Life Insurance Corporation of India Limited
Penalties and directions recorded
- Appeals partly allowed; Rs 10 lakh penalty each substituted with warning
- SEBI at liberty to impose penalty for similar future violations
- Appeals partly allowed; Rs 10 lakh penalty each set aside and substituted with warning
- SEBI at liberty to impose penalty for similar future violations
SAT-appeal
- Sponsors of own mutual funds holding 18.2% each in UTI AMC/UTI Trustee exceeding 10% shareholding/voting limit under Reg 7B after 12 March 2019 deadline.Appeals partly allowed; Rs 10 lakh penalty each substituted with warning · No order on costsAppeal: Appeal Nos. 304, 306, 307 of 2020 disposed on 07.01.2021 (reserved 23.12.2020) - partly allowed
- Holding 18.2% each in UTI AMC/Trustee beyond 10% cross-shareholding cap under Reg 7B after 12 March 2019 deadline.Appeals partly allowed; Rs 10 lakh penalty each set aside and substituted with warning · SEBI at liberty to impose penalty for similar future violationsAppeal: Appeal Nos. 304, 306 and 307 of 2020 decided on 07.01.2021 (reserved 23.12.2020) - partly allowed, penalty replaced with warning
Source: SecMarx — Life Insurance Corporation of India Limited. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.