New Delhi: The Securities and Exchange Board of India (Sebi) on Thursday cancelled the registration of Alliance Capital Mutual Fund following the fund house's request.
At the request of Alliance Capital Mutual Fund, Sebi has cancelled the certificate of registration of Alliance Capital MF and has withdrawn the approval granted to Alliance Capital Asset Management (India) Pvt Ltd to act as the asset management company to the mutual fund, the markets regulator said in a statement.
Consequently, with immediate effect, Alliance Capital Mutual Fund, ACAM Trust Company Pvt Ltd and Alliance Capital Asset Management (India) Pvt Ltd cannot carry out any activity as a mutual fund, trustee company or AMC, respectively.
In 2005, Birla Sun Life MF had announced to acquire the Indian mutual fund schemes of Alliance Capital MF.
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