Choice International Limited announced that it has received in-principle approval from the Securities and Exchange Board of India (SEBI) for sponsoring and setting up a mutual fund. This marks a significant milestone as the company prepares to establish an Asset Management Company (AMC) and a Trustee Company in compliance with SEBI regulations and other applicable laws.
“With reference to the above subject, we wish to inform you that the Company has received an In-Principle approval from Securities and Exchange Board of India (SEBI) vide their letter dated December 26, 2024, for sponsoring/setting up of Mutual Fund. Accordingly, the Company would be setting up an Asset Management Company and the Trustee Company in accordance with applicable “SEBI” Regulations and other applicable laws. The Final approval for registration will be granted by “SEBI” subject to fulfilment by the Company the requirements stipulated in the in principal approval letter,” the company said in exchange filing.
The final registration approval will be granted by SEBI once the stipulated requirements outlined in the in-principle approval letter are fulfilled.
