Question

If any person who is registered with sebi as a collective investment scheme including mutual funds for sponsoring for carrying on any investment scheme fails to comply with the terms and condition of certificate of registration he shall be liable to a penalty which shall not be less than

Answer 1

Explanation:

registered with the Board as a collective investment scheme, including mutual funds, for sponsoring or carrying on any investment scheme, fails to comply with the terms and conditions of certificate of registration, he shall be liable to [42][a penalty of one lakh rupees for each day during which such failure ...