Last week, Axis Mutual Fund announced the suspension of two fund managers - one of them also the chief dealer pending what they called a "suo moto investigation".
According to the statement released, this investigation began in February but curiously the decision to suspend the two accused was taken just a day after Moneycontrol first brought this discrepancy to light.
According to well-placed sources, the allegations include front running and price rigging of stocks.
So far, the status is that AZB & Partners and Alvarez & Marsel are the two external agencies probing the case and SEBI is being kept apprised of the developments.
So, in light of all this - what should the unit holders of the 7 impacted schemes do? Do these developments impact those who might have invested in these schemes managed by the two accused fund managers and what about the other schemes? Does this event dent sentiment or should unit holders maintain status quo till the final findings of the ongoing investigations? To answer these questions CNBC-TV18 spoke to Mohit Gang, CEO & Co-founder of Moneyfront.
Watch video for entire conversation.
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