Capital markets regulator SEBI on Thursday imposed a total fine 

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of Rs 1.6 crore on seven organisations, including Kotak Mahindra Trustee Company 

and Kotak AMC Managing Director Nilesh Shah, for violating 

mutual fund norms while investing in Essel Group companies.

Lakshmi Iyer, Deepak Agarwal, Abhishek Bisen, as well as compliance officers 

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Jolly Bhatt and Gaurang Shah, who were members of the investment committee 

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that approved investment decisions related to specific fixed maturity plan 

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(FMP) schemes, are also included. Received penalty from SEBI.

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They have 45 days to pay the fine as directed.

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Zee Entertainment Enterprises Ltd. By pledging the equity shares

of the company, its promoter Sciqter Media Services secured the debt securities.

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