Reliance MF withdraws ad after SEBI warning

Agencies
Posted: Thursday, Jun 04, 2009 at 1934 hrs IST
Updated: Thursday, Jun 04, 2009 at 1934 hrs IST

Font Size

Feedback

Discuss

Sensex seen choppy, Reliance watched 'Brokers against extending trading hours'Sensex closes down 49 points Gold hits fresh record on global cues

Mumbai: Anil Ambani group (ADAG) owned Reliance Mutual Fund said on Thursday that it has withdrawn advertisement of its new scheme following a show-cause notice by the market regulator SEBI.

"...the advertisement in question has been withdrawn, and a revised advertisement will be released starting tomorrow," a Reliance MF spokesperson said.

In an order on Wednesday, SEBI asked Reliance MF to explain violations of norms in its advertisement for its infrastructure fund to avert action by the market watchdog.

The spokesperson said, "We will file our response to SEBI within the prescribed time of 15 days to establish that there has been no violation of applicable SEBI guidelines. The spokesperson added that the Reliance Infrastructure Fund NFO will close as announced on June 23, 2009.

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

I agree to the terms of use.

Latest News

Print Edition

Events

Reliance MF withdraws ad after SEBI warning

Post Comments