Sebi issues show-cause notices to HDFC, Kotak mutual funds on Essel Group exposure
Updated : May 14, 2019 06:35 AM IST
In the wake of Essel Group companies grappling with debt woes, many mutual funds have come under redemption pressure.
In April, HDFC AMC and Kotak Mahindra AMC sought more time for payouts with respect to their Fixed Maturity Plans (FMPs).
Sources said Sebi, which regulates mutual funds, has served show-cause notices to the two asset management companies (AMCs) regarding their dealings in shares of Essel group companies.