The acquisition of Sun F&C Mutual Fund by Principal Mutual Fund has run into rough weather with two minors of the Khemka family threatening to take legal recourse against the deal.
The Khemkas own Sun F&C Mutual Fund jointly with Foreign & Colonial Emerging Markets of the UK.
Manju Manot of L P Manot & Co, legal counsel of the two minors, Mihir and Kushaal, said the transfer of ownership of Sun F&C was illegal and her clients would be filing an appeal against it with the Calcutta High Court on Monday.
She added the Khemka juniors would seek intervention of the Securities and Exchange Board of India (Sebi) to
