Nippon AMC gets Sebi nod for settlement in Yes Bank AT1 case

MUMBAI Nippon Life India AMC said on Thursday that Sebi has given its in-principle approval to a settlement in a case related to investments by certain MF schemes in Yes Bank's AT1 bonds.

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The AMC said it has paid ₹96.8 crore towards the settlement, including ₹89.1 crore towards reversal of management fees earned on the investments, along with interest, and ₹7.7 crore towards settlement amounts for the company and certain officials. The final settlement order from Sebi is awaited.


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The company had received a show-cause notice from Sebi in August, 2024, alleging "non-compliance with certain securities laws" in relation to investments made by some of Nippon's schemes in Yes Bank's AT1 bonds.