AMC: SEBI fines Kotak AMC, its MD Nilesh Shah and 5 other officials for violation of rules

Mumbai: Securities and Exchange Board of India (SEBI) has imposed penalty on Kotak Asset Management Company (AMC), its managing director Nilesh ShahChief Investment Officer (Loans) Lakshmi Iyer and four other senior executives of the company for violation of mutual fund rules. The regulator has imposed a fine of Rs 40 lakh on Kotak AMC. Shah and Iyer have been fined ₹30 lakh and ₹25 lakh respectively. Other senior officials of the fund house to be penalized are Deepak Agarwal, Vice President and Fund Manager, Jolly Bhatt, Compliance Officer, Abhishek Bisen,…