SEBI Settlement: SBICAP Trustee Company Ltd Agrees To Rs 25.08 Lakh Payment Over Regulatory Violations

SEBI has settled with SBICAP Trustee Company Ltd., requiring a payment of Rs 250.8 lakh for violations of regulatory norms. The settlement arises from allegations that SBICAP failed to exercise due diligence while managing the schemes of a mutual fund, breaching SEBI's regulations. The amount includes disgorgement of Rs 97.3 lakh and interest of Rs 114.5 lakh. SBICAP agreed to pay this sum without admitting or denying the findings. The settlement terms were approved by SEBI's High Powered Advisory Committee. This case underscores SEBI's enforcement of stringent compliance standards in the mutual fund sector.