In a big reprieve to L&T Investment Management Ltd, market regulator Securities and Exchange Board of India (SEBI), disposed of adjudication proceedings for not updating research reports regularly or as per the availability of updated financial statements of the investee companies.
Investments by local equity mutual funds in the group accounted for only 0.9 percent of the industry’s $182 billion in assets at the end of March, according to data compiled by Bloomberg
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