Securities Appellate Tribunal overturns SEBI penalty on SBI, LIC, Bank of Baroda over UTI MF
SEBI had fined the three entities for holding over 10% stake in UTI MF, which was in violation of SEBI rules
BusinessToday.In | January 12, 2021 | Updated 14:58 IST
The Securities Appellate Tribunal (SAT) has reversed the penalty imposed by the Securities and Exchange Board of India (SEBI) on three entities (Photo- Reuters)
The Securities Appellate Tribunal (SAT) has reversed the penalty imposed by the Securities and Exchange Board of India (SEBI) on State Bank of India (SBI), Bank of Baroda and Life Information Corporation (LIC) on the matter of UTI Asset Management Company (AMC).