HDFC Asset Management Company (HDFC AMC) Ltd on Monday said it is in receipt of two show cause notices from the Securities and Exchange Board of India (SEBI) in relation to the investments of its Fixed Maturity Plans in debt instruments of Essel Group of companies.
HDFC AMC, which is the investment manager of HDFC Mutual Fund, in a stock exchange notice, said, "We are working with our legal advisors and are in the process of responding to the said show cause notices."
As at March-end 2019, the AMC's assets under management rose to ₹3,43,900 crore, recording a year on year increase of 18 per cent.