Mutual funds vs the Sebi

Sebi's objections concern the roll-over of maturity (extension of maturity) and a private deal to allow time to the borrower without proper disclosure in the scheme to investors

Looking at the headlines over the past few weeks if one gets the impression that all is not well between the Securities and Exchange Board of India (Sebi) and the mutual funds, one wouldn’t be too off the mark. The question is, why is it so when both have a similar objective — that is, to develop the mutual fund industry, while protecting investor interest. The crux lies in a crucial difference: MFs have a commercial objective as well — they not only earn for the investor but also for themselves. The Sebi has no commercial objective. 

At the root of