The probe, initiated by Sebi in 2022, focuses on Nippon Life India Asset Management (earlier Reliance Mutual Fund) over its ₹2,500 crore investment in Yes Bank’s Additional Tier 1 (AT1) bonds. The investigation probes whether the former promoter, Anil Ambani’s Reliance Capital, influenced the fund’s investment decision, potentially impacting the fiduciary responsibility of its executives.
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