P&H HC: Eyewitness Account Not Credible if Eyewitness Directly Identifies Accused in Court  ||  Delhi HC: Conditions u/s 45 PMLA Have to Give Way to Article 21 When Accused Incarcerated for Long  ||  Delhi High Court: Delhi Police to Add Grounds of Arrest in Arrest Memo  ||  Kerala High Court: Giving Seniority on the Basis of Rules is a Policy Decision  ||  Del. HC: Where Arbitrator has Taken Plausible View, Court Cannot Interfere u/s 34 of A&C Act  ||  Ker. HC: No Question of Estoppel Against Party Where Error is Committed by Court Itself  ||  Supreme Court: Revenue Entries are Admissible as Evidence of Possession  ||  SC: Mere Breakup of Relationship Between Consenting Couple Can’t Result in Criminal Proceedings  ||  SC: Bar u/s 195 CrPC Not Attracted Where Proceedings Initiated Pursuant to Judicial Order  ||  NTF Gives Comprehensive Suggestions on Enhancing Better Working Conditions of Medical Professions    

Restriction on redemption of Mutual Funds- (Securities and Exchange Board of India) (31 May 2016)

MANU/SMFD/0004/2016

Capital Market

In efforts to quell disparity in imposition of restrictions on redemption of mutual funds, the Securities and Exchange Board of India clarified that redemption can be curtailed “when there are circumstance leading to a systemic crisis or event that severely constricts market liquidity”.

Restrictions are envisaged to last between 10 and 90 working days and the SEBI expects to be informed of the same. Redemption requests up to Rs. 2 lakh will not be subject to restriction.

Information pertaining to restrictions will have to be prominently disclosed to investors in scheme related documentation.

So far, restrictions on redemption of mutual funds have been left to funds’ devices. Such restrictions, at present also used in oblique circumstance being faced by individual entities, were intended to ve limited to excessive requests arising out of market crises.

Tags : MUTUAL FUND   REDEMPTION   RESTRICTION   SEBI  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved