Nippon AMC gets Sebi nod for settlement in Yes Bank AT1 case

Nippon Life India Asset Management Company has obtained in-principle approval from Sebi regarding a settlement case involving mutual fund investments in Yes Bank's AT1 bonds. With a settlement payment of ₹96.8 crore, including management fee reversals, this comes after a show-cause notice was issued in August 2024 due to alleged non-compliance. The final ruling from Sebi is still anticipated by the company and its representatives.