HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  


Search:



The Web

Rediff








Business
Portfolio Tracker
Business News
Specials
Columns
Market Report
Mutual Funds
Interviews
Tutorials
Message Board
Stock Talk
Press Releases



Home > Business > PTI > Report

Sebi may probe JM MF's G-sec dealings

May 08, 2003 21:50 IST

Securities and Exchange Board of India may soon launch a full-fledged investigation into the alleged violation of mutual funds regulations by JM Mutual Fund while dealing in government securities.

"Following Reserve Bank of India's communication on transactions involving JM Mutual Fund and two finance companies, we have sought preliminary data on G-sec trading from the fund", Sebi sources said in Mumbai on Thursday.

"The apex bank has sought a probe into transactions by these parties in highly illiquid government securities and based on the analysis we could go for regular investigations," they said.

Sources said JM MF officials have maintained that these transactions are legal and meet the investment norms.

RBI has pointed out that transactions pattern and activity levels of the two finance companies, which are not registered with the market regulator or the stock exchanges, do not appear to be conducted by an ordinary investor, sources added.



© Copyright 2003 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.





Article Tools

Email this Article

Printer-Friendly Format

Letter to the Editor



Related Stories


Debt funds at a dead end?

Global bids for pension funds

Fundmen hot on income



People Who Read This Also Read


Opposition protests HPCL sale

Indian tech firms face backlash

India offers 24 oil blocks







HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  
© 2003 rediff.com India Limited. All Rights Reserved.