New Delhi, Apr 10 (PTI) L&T Mutual Fund ceases to exist as a mutual fund, capital markets regulator Sebi said on Monday.

This comes after L&T Mutual Fund Trustee Ltd had informed Sebi that it wanted to surrender the registration granted to L&T Mutual Fund (L&T MF) by the markets regulator pursuant to the approval of change in control of L&T Investment Management Ltd and merger of schemes of L&T MF with HSBC Mutual Fund.

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Following this, Sebi has accepted the request for surrender of L&T MF's certificate of registration.

"Consequently, L&T MF ceases to exist as a mutual fund with effect from April 6, 2023," the Securities and Exchange Board of India (Sebi) said in a statement.

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Further, it said L&T MF will continue to be liable for all liabilities/ obligations, (including monetary penalties) for violations of the provisions of the Sebi Act and (Mutual Fund) regulations that have taken place before its surrender of certificate of registration.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)