SAT gives partial relief to Kotak AMC in Sebi case on fixed maturity plan payouts
The Securities Appellate Tribunal (SAT) has granted partial relief to Kotak Mahindra Asset Management Company in a case related to delayed payouts in certain fixed maturity plans (FMPs), while upholding penalties imposed earlier by the capital markets regulator. In an order passed on Friday, SAT set aside the disgorgement of management fees that had been…