India’s market regulator, SEBI, has chosen 34 entities, including E&Y, Deloitte Touche Tohmatsu India,
and Grant Thornton India, for a forensic inquiry into mutual funds, their asset management companies (AMCs), and trustees.
KPMG Assurance & Consulting Services, Chokshi & Chokshi, Nangia & Co, and Pipara & Co are among the other entities named, according to SEBI.
The empanelment period spans from September 20, 2023, to September 19, 2026.
Selection Process
SEBI finalized this list after reviewing all applications received in response to the expression of interest (EOI) it issued in February.
These organizations are tasked with collecting, extracting, and analyzing digital evidence from mobile devices, computers, tablets, hard drives, and USB drives.
Enhanced Trustee Responsibilities
In July, SEBI expanded the role and accountability of mutual fund trustees to safeguard the interests of unitholders as the mutual fund industry continues to grow.
Massive Bond Mutual Fund Withdrawals
According to the Association of Mutual Funds in India (Amfi), there were withdrawals in nine out of 16 bond categories in August.
Most of the withdrawals occurred in categories with a tenure of less than one year, such as cash, ultra-short, and short-term funds. Additionally, there were withdrawals in the banking and PSU category in August.
The month saw a total withdrawal of INR 25,872 crore from bond mutual funds, whereas the previous month witnessed an infusion of INR 61,440 crore.
