Canara Robeco Settles with SEBI for Rs 84.82 Lakh Over Mutual Fund Norm Violations

Canara Robeco Asset Management Company Ltd resolved a regulatory case with SEBI by paying Rs 84.82 lakh towards settlement charges. The case concerned alleged violations of mutual fund norms for the period from April 2020 to March 2021.

Canara Robeco Asset Management Company Ltd reached a settlement with SEBI on Tuesday, paying Rs 84.82 lakh to resolve allegations of mutual fund norm violations.

The case pertained to offsite surveillance of the mutual fund from April 2020 to March 2021. The resolution followed an application by Canara Robeco to settle the proceedings without admitting or denying the findings.

SEBI acknowledged the settlement terms and formally concluded the adjudication process against Canara Robeco, initiated through a show cause notice dated October 14, 2022.