New Delhi: Capital market regulator SEBI on Monday said that L&T Mutual Fund has ceased to exist as a mutual fund. This comes after L&T Mutual Fund Trustee Ltd informed SEBI that it is seeking approval for the change in control of L&T Investment Management Ltd and the registration granted to L&T Mutual Fund (L&T MF) by the markets regulator following the merger of L&T’s schemes. wants to surrender. MF with HSBC Mutual Fund.
Subsequently, SEBI has accepted L&T MF’s request to surrender its certificate of registration. ,Read also: This employee chose to quit his 6-figure salary job rather than return to the office full-time,
“Consequently, L&T MF will cease to exist as a mutual fund with effect from April 6, 2023,” the Securities and Exchange Board of India (SEBI) said in a statement. ,Also Read: AI Artist Draws Bill Gates, Musk, Zuckerberg, Other Billionaires As World’s Poorest—See How They Look,
Further, it is stated that L&T MF shall continue to be liable for all liabilities/obligations, (including monetary penalty) for contravention of the provisions of the SEBI Act and (Mutual Funds) Rules, which occurred prior to surrender of certificate of registration Are.