L&T Mutual Fund launches 180 days fixed maturity plan

L&T Mutual Fund new issue closes on 27th April

L&T Mutual Fund has launched L&T FMP-III (April 180D A), a close-ended income scheme.

The investment objective of the scheme would be to achieve growth of capital through investments made in a basket of debt/fixed income securities maturing on or before the maturity of the scheme. The tenor of the plan is 180 days.

The new issue closes on 27th April. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Bekxy Kuriakose is the fund manager.

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ICICI Prudential Mutual Fund unveils 367 days fixed maturity plan

ICICI Prudential Mutual Fund new issue closes on 28th April

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 56-1 Year Plan E, close-ended income scheme.

The investment objective of the plan is to seek to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme. The tenure of the plan is 367 days.

The new issue closes on 28th April. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager.

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Dena Bank settles insider trading case by SEBI with payment of Rs10 lakh

The capital market regulator found the bank was involved in trading of shares of Alka Securities without making adequate disclosures

Mumbai: The Securities and Exchange Board of India (SEBI) has settled and passed a consent order in a case against Dena Bank, on a payment of Rs10 lakh, for alleged violation of insider trading norms.

The case relates to Dena Bank's trading in shares of Alka Securities, allegedly breaching the rules.

"The noticee (Dena Bank) has remitted a sum of Rs10 lakh...this consent order disposes of the said adjudication proceedings...," SEBI said, in passing the consent order, yesterday. In a consent order, the company or person pays the settlement fee without denying or admitting the guilt, reports PTI.

Noticing a sudden spurt in the price and trading volume of shares of Alka Securities, SEBI had conducted detailed investigations in the dealings in 2008-09.
It said that Dena Bank transacted substantially in the shares of the company, but failed to make disclosures as required under the SEBI (Prohibition of Insider Trading) Regulations.

Dena Bank was found to have been involved in these transactions, which involved off-market transfer of shares. The public sector lender was holding 1.36 crore shares in Alka Securities, representing 27.36% of the paid up capital.

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