SEBI cancels certificate of registration order of GIC mutual fund

Mumbai Sept 20 (UNI) Securities and Exchange Board of India has cancelled the certificate of registration of GIC Mutual Fund and withdrawn the approval granted to GIC Asset Management company limited to act as an asset management company.

As per the SEBI order, which comes into immediate effect, the GIC Mutual Fund, the board of trustees of GIC Mutual Fund and GIC Asset Management Company Limited cannot carry out any activity as a mutual fund, trustees or asset management company respectively.

UNI