Capital Markets #supreme court#sebi
Supreme Court Upholds Sebi Action Against Kotak AMC, MD Nilesh Shah Over FMP Violations
The Supreme Court upheld Sebi's regulatory action against Kotak Mahindra Asset Management Company, its trustee company, and senior executives including MD Nilesh Shah for violations related to six Fixed Maturity Plan schemes. The court rejected the argument that investors profited, emphasizing that regulatory breaches cannot be excused. It imposed costs of Rs 30 lakh on Kotak AMC and Rs 20 lakh on Kotak Trustee Company.
Jul 14, 2026 1 source