MFs not liable for bad calls; L&T MF case sets template

India's market regulator, Securities and Exchange Board of India (Sebi), has issued a show-cause notice to L&T Mutual Fund over its lack of transparency regarding fund management decisions. Sebi accused the asset management company of not providing detailed reasons for its buy-sell decisions. While Sebi did not impose a fine, the notice shed light on the internal decision-making processes at L&T Mutual Fund. The case highlights the need for industry participants to ensure transparency and analytical rigour in their investment decisions.

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