Canara Robeco AMC pays Rs 84.82 lakh to Sebi to settle alleged violations of MF regulations

Canara Robeco Asset Management Company settled alleged MF regulation violations with Sebi, paying over Rs 84.82 lakh. Sebi initiated adjudication proceedings against the AMC for violations under Mutual Fund Regulations, including prohibiting guaranteed returns and other clauses related to scheme investors, NAV calculation, scheme categorization, and disclosure of scheme performance. \r

While the AMC settled without admitting or denying the findings, it filed a settlement application in August 2023. The High Powered Advisory Committee recommended settling the case with the payment of ₹84,82,500 after considering revised settlement terms proposed by the AMC in December 2023.