Capital markets regulator SEBI has settled the alleged breach of regulations by Canara Robeco Asset Management Company with the payment of ₹84.82 lakh by the fund house.
In a settlement order issued on Tuesday, SEBI said it had issued a show cause notice to the fund house in 2022 for the alleged violation of MF regulations.
Pending the adjudication proceedings, the fund house last August proposed to settle the proceedings initiated against it, without admitting or denying the findings of the law, through a settlement application filed.
SEBI’s high-powered advisory committee in its meeting held in March considered the settlement terms proposed, and recommended that the case may be settled by payment of ₹84.82 lakh.
The fund house paid the agreed amount on June 6 and the adjudication proceedings initiated were settled through a SEBI order issued on Tuesday.