L&T Mutual Fund ceases to exist as a mutual fund, capital markets regulator Sebi said on Monday.
This comes after L&T Mutual Fund Trustee Ltd had informed Sebi that it wanted to surrender the registration granted to L&T Mutual Fund (L&T MF) by the markets regulator pursuant to the approval of the change in control of L&T Investment Management Ltd and the merger of schemes of L&T MF with HSBC Mutual Fund.
Following this, Sebi has accepted the request for the surrender of L&T MF's certificate of registration.
"Consequently, L&T MF ceases to exist as a mutual fund with effect from April 6, 2023," the Securities and Exchange Board of India (Sebi) said in a statement.
Further, it said L&T MF will continue to be liable for all liabilities/ obligations, (including monetary penalties) for violations of the provisions of the Sebi Act and (Mutual Fund) regulations that have taken place before its surrender of the certificate of registration.
Published 10 April 2023, 17:14 IST