Kotak AMC moves Supreme Court challenging SAT ruling in Essel group case over SEBI penalties

SAT backed SEBI penalties but struck a key fee order

Kotak Mahindra Asset Management has filed an appeal in the Supreme Court against a Securities Appellate Tribunal order in the Essel Group case. SAT upheld SEBI’s findings that Kotak made regulatory lapses and delayed payouts tied to six fixed maturity plans, but it set aside the regulator’s fee disgorgement order.