SEBON has taken action for Merchant Banker for violating mutual fund management act – 2067. As per the Act, the mutual funds can invest only 10% of fund size in the deposit of Banks & financial instructions.
During inspection, it is found that CBIL Capital, NIC ASIA Capital, Laxmi Capital Market and NMB Capital had crossed the provision by Act. So they are imposed by fine.
They have to pay fine as following;
NMB Capital – 35000
Laxmi Capital – 35000
CBIL Capital – 35000
NIC Aisa Capital – 25000
