'Regulatory Compliance Cannot Be Ignored for Investor Gains': SEBI Action Against Kotak Mutual Fund in Essel Debt Case Upheld: Supreme Court

The Supreme Court has upheld the regulatory action taken by the Securities and Exchange Board of India (SEBI) against Kotak Mahindra Asset Management Company Ltd. (Kotak AMC), Kotak Mahindra Trustee Company Ltd. and several senior officials over violations relating to six Fixed Maturity Plans (FMPs) linked to debt instruments issued by Essel Group entities. A Bench comprising Justice Dipankar Datta and Justice Satish Chandra Sharma held that compliance with securities…