Ltd (DSPIM) resigned from their jobs earlier this month following an inquiry into suspicious transactions, said a spokesperson for the mutual fund and another person aware of the matter. The officials had provided funds from their personal accounts to an ex-employee, who in turn, traded in the securities market. “An internal inquiry committee was set up and while the inquiry was on, these employees resigned," said the spokesperson. However, the DSP spokesperson said the internal inquiry committee has not found evidence of any insider trading, front-running or any other illegal activities. As per mutual fund regulations, repeated so-called loan constitutes an activity which needs to be reported to the company and approved on a case-by-case basis.

Source: Mint May 09, 2019 16:01 UTC