Supreme Court upholds SEBI’s ₹2.1 crore penalty on Kotak AMC, Nilesh Shah and others against Essel Group

The Supreme Court upheld SEBI’s penalties against Kotak Mahindra AMC and six executives for mutual fund regulation violations. The court emphasized compliance over profits and upheld a total penalty of ₹2.1 crore, cautioning the mutual fund industry about the importance of regulatory adherence.