SEBI directs HDFC Mutual Fund to make payment of Rs3.79 crore to settle a case of violations

HDFC Mutual Fund has settled a case of violations with Securities and Exchange Board of India. The violations included maturity of a security purchased by a scheme exceeding the maturity of the scheme; difference in TER (total expense ratio) for direct and regular plans being lower than the commission paid to the distributors in certain schemes; NAVs (net asset values) of certain schemes not being published on HDFC Mutual Fund website for a certain period of time; and error in valuation of unlisted equity shares of a company.  
 
The allegations were based on a probe on the schemes for the period April 2014 to March 2016. HDFC Mutual has settled the case by paying a fine of Rs3.79 crore to the capital market regulator.

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