Both KMPT and Kotak AMC are 100% subsidiaries of KMB. In August 2021, SEBI had imposed a monetary penalty on Kotak AMC of Rs 5 mn (US$ 68,092) and other penalties, which were partly stayed by the Securities Appellate Tribunal on October 2021, for the investments in the Zee founder companies. In this case too the monetary fine was a pittance, and the company could easily pay it – in FY2021 Kotak AMC had a net worth of Rs 10.9 bn (US$ 149 mn). If the regulatory penalty had been more than the equity capital of the AMC, the parent company, which is KMB, would have had to recapitalise the AMC.