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Form ADV (full filing)

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FORM ADV
UNIFORM APPLICATION FOR INVESTMENT ADVISER REGISTRATION AND REPORT BY EXEMPT REPORTING ADVISERS

Primary Business Name: KOTAK ALTERNATE ASSET MANAGERS LIMITED CRD Number: 317952
Annual Amendment - All Sections Rev. 10/2021
6/30/2026 8:47:19 PM

WARNING: Complete this form truthfully. False statements or omissions may result in denial of your application, revocation of your registration, or criminal prosecution. You must
keep this form updated by filing periodic amendments. See Form ADV General Instruction 4.
Item 1 Identifying Information

Responses to this Item tell us who you are, where you are doing business, and how we can contact you. If you are filing an umbrella registration, the information in Item 1 should
be provided for the filing adviser only. General Instruction 5 provides information to assist you with filing an umbrella registration.

A. Your full legal name (if you are a sole proprietor, your last, first, and middle names):
KOTAK ALTERNATE ASSET MANAGERS LIMITED

B. (1) Name under which you primarily conduct your advisory business, if different from Item 1.A.
KOTAK ALTERNATE ASSET MANAGERS LIMITED

List on Section 1.B. of Schedule D any additional names under which you conduct your advisory business.

(2) If you are using this Form ADV to register more than one investment adviser under an umbrella registration, check this box

If you check this box, complete a Schedule R for each relying adviser.

C. If this filing is reporting a change in your legal name (Item 1.A.) or primary business name (Item 1.B.(1)), enter the new name and specify whether the name change is of
your legal name or your primary business name:

D. (1) If you are registered with the SEC as an investment adviser, your SEC file number: 801-127639
(2) If you report to the SEC as an exempt reporting adviser, your SEC file number:
(3) If you have one or more Central Index Key numbers assigned by the SEC ("CIK Numbers"), all of your CIK numbers:
No Information Filed

E. (1) If you have a number ("CRD Number") assigned by the FINRA's CRD system or by the IARD system, your CRD number: 317952

If your firm does not have a CRD number, skip this Item 1.E. Do not provide the CRD number of one of your officers, employees, or affiliates.

(2) If you have additional CRD Numbers, your additional CRD numbers:
No Information Filed

F. Principal Office and Place of Business
(1) Address (do not use a P.O. Box):
Number and Street 1: Number and Street 2:
27 BKC, 7TH FLOOR, PLOT NO.C-27 "G" BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST)
City: State: Country: ZIP+4/Postal Code:
MUMBAI India 400051

If this address is a private residence, check this box:

List on Section 1.F. of Schedule D any office, other than your principal office and place of business, at which you conduct investment advisory business. If you are applying for
registration, or are registered, with one or more state securities authorities, you must list all of your offices in the state or states to which you are applying for registration or
with whom you are registered. If you are applying for SEC registration, if you are registered only with the SEC, or if you are reporting to the SEC as an exempt reporting adviser,
list the largest twenty-five offices in terms of numbers of employees as of the end of your most recently completed fiscal year.

(2) Days of week that you normally conduct business at your principal office and place of business:
Monday - Friday Other:

Normal business hours at this location:
09:30 TO 18:30
(3) Telephone number at this location:
+91-022-65292400
(4) Facsimile number at this location, if any:
(5) What is the total number of offices, other than your principal office and place of business, at which you conduct investment advisory business as of the end of your most
recently completed fiscal year?
3
G. Mailing address, if different from your principal office and place of business address:

Number and Street 1: Number and Street 2:
City: State: Country: ZIP+4/Postal Code:

If this address is a private residence, check this box:

H. If you are a sole proprietor, state your full residence address, if different from your principal office and place of business address in Item 1.F.:

Number and Street 1: Number and Street 2:
City: State: Country: ZIP+4/Postal Code:

Yes No
I. Do you have one or more websites or accounts on publicly available social media platforms (including, but not limited to, Twitter, Facebook and LinkedIn)?

If "yes," list all firm website addresses and the address for each of the firm's accounts on publicly available social media platforms on Section 1.I. of Schedule D. If a website address
serves as a portal through which to access other information you have published on the web, you may list the portal without listing addresses for all of the other information. You
may need to list more than one portal address. Do not provide the addresses of websites or accounts on publicly available social media platforms where you do not control the
content. Do not provide the individual electronic mail (e-mail) addresses of employees or the addresses of employee accounts on publicly available social media platforms.

J. Chief Compliance Officer
(1) Provide the name and contact information of your Chief Compliance Officer. If you are an exempt reporting adviser, you must provide the contact information for your Chief
Compliance Officer, if you have one. If not, you must complete Item 1.K. below.

Name: Other titles, if any:
Telephone number: Facsimile number, if any:
Number and Street 1: Number and Street 2:
City: State: Country: ZIP+4/Postal Code:

Electronic mail (e-mail) address, if Chief Compliance Officer has one:

(2) If your Chief Compliance Officer is compensated or employed by any person other than you, a related person or an investment company registered under the Investment
Company Act of 1940 that you advise for providing chief compliance officer services to you, provide the person's name and IRS Employer Identification Number (if any):
Name:
IRS Employer Identification Number:

K. Additional Regulatory Contact Person: If a person other than the Chief Compliance Officer is authorized to receive information and respond to questions about this Form
ADV, you may provide that information here.

Name: Titles:
Telephone number: Facsimile number, if any:
Number and Street 1: Number and Street 2:
City: State: Country: ZIP+4/Postal Code:

Electronic mail (e-mail) address, if contact person has one:

Yes No
L. Do you maintain some or all of the books and records you are required to keep under Section 204 of the Advisers Act, or similar state law, somewhere other than
your principal office and place of business?

If "yes," complete Section 1.L. of Schedule D.
Yes No
M. Are you registered with a foreign financial regulatory authority?

Answer "no" if you are not registered with a foreign financial regulatory authority, even if you have an affiliate that is registered with a foreign financial regulatory authority. If "yes,"
complete Section 1.M. of Schedule D.
Yes No
N. Are you a public reporting company under Sections 12 or 15(d) of the Securities Exchange Act of 1934?

Yes No
O. Did you have $1 billion or more in assets on the last day of your most recent fiscal year?
If yes, what is the approximate amount of your assets:
$1 billion to less than $10 billion

$10 billion to less than $50 billion

$50 billion or more

For purposes of Item 1.O. only, "assets" refers to your total assets, rather than the assets you manage on behalf of clients. Determine your total assets using the total assets
shown on the balance sheet for your most recent fiscal year end.
P. Provide your Legal Entity Identifier if you have one:
3358009WM2OCD58DA559

A legal entity identifier is a unique number that companies use to identify each other in the financial marketplace. You may not have a legal entity identifier.

SECTION 1.B. Other Business Names

No Information Filed

SECTION 1.F. Other Offices

Complete the following information for each office, other than your principal office and place of business, at which you conduct investment advisory business. You must complete a
separate Schedule D Section 1.F. for each location. If you are applying for SEC registration, if you are registered only with the SEC, or if you are an exempt reporting adviser, list
only the largest twenty-five offices (in terms of numbers of employees).

Number and Street 1: Number and Street 2:
7TH FLOOR, VENUS AMADEUS JODHPUR CROSS ROAD, SATELLITE
City: State: Country: ZIP+4/Postal Code:
AHMEDABAD India 380015

If this address is a private residence, check this box:

Telephone Number: Facsimile Number, if any:
+91-22-4336070

If this office location is also required to be registered with FINRA or a state securities authority as a branch office location for a broker-dealer or investment adviser on the
Uniform Branch Office Registration Form (Form BR), please provide the CRD Branch Number here:

How many employees perform investment advisory functions from this office location?
2

Are other business activities conducted at this office location? (check all that apply)
(1) Broker-dealer (registered or unregistered)
(2) Bank (including a separately identifiable department or division of a bank)
(3) Insurance broker or agent
(4) Commodity pool operator or commodity trading advisor (whether registered or exempt from registration)
(5) Registered municipal advisor
(6) Accountant or accounting firm
(7) Lawyer or law firm

Describe any other investment-related business activities conducted from this office location:
THE APPLICANT DOES NOT CARRY OUT OTHER BUSINESS ACTIVITIES FROM THIS OFFICE LOCATION. HOWEVER, SOME OF THE OTHER GROUP ENTITIES SHARE THE SAME
BUILDING.

Number and Street 1: Number and Street 2:
KOTAK HOUSE, 5TH FLOOR NO.22, M.G. ROAD
City: State: Country: ZIP+4/Postal Code:
BANGALORE India 560001

If this address is a private residence, check this box:

Telephone Number: Facsimile Number, if any:
+91-22-4336070

Number and Street 1: Number and Street 2:
KOTAK AEROCITY, 5TH FLOOR ASSET AREA 9,IBIS COMMERCIAL BLOCK, IGI AIRPORT
City: State: Country: ZIP+4/Postal Code:
NEW DELHI India 110037

If this address is a private residence, check this box:

Telephone Number: Facsimile Number, if any:
+91-22-4336070

How many employees perform investment advisory functions from this office location?
8

SECTION 1.I. Website Addresses

List your website addresses, including addresses for accounts on publicly available social media platforms where you control the content (including, but not limited to, Twitter,
Facebook and/or LinkedIn). You must complete a separate Schedule D Section 1.I. for each website or account on a publicly available social media platform.

Address of Website/Account on Publicly Available Social Media Platform: https://www.kotakalternateasset.com/investment-advisory/#bespoke-advisory

Address of Website/Account on Publicly Available Social Media Platform: https://x.com/KotakAlts
Address of Website/Account on Publicly Available Social Media Platform: https://www.linkedin.com/company/kotakalt

SECTION 1.L. Location of Books and Records

Complete the following information for each location at which you keep your books and records, other than your principal office and place of business. You must complete a
separate Schedule D, Section 1.L. for each location.

Name of entity where books and records are kept:
KOTAK ALTERNATE ASSET MANAGERS LIMITED

Number and Street 1: Number and Street 2:
KOTAK AEROCITY, 5TH FLOOR ASSET AREA 9,IBIS COMMERCIAL BLOCK, IGI AIRPORT
City: State: Country: ZIP+4/Postal Code:
NEW DELHI India 110037

If this address is a private residence, check this box:

Telephone Number: Facsimile number, if any:
+91 89291578

This is (check one):
one of your branch offices or affiliates.

a third-party unaffiliated recordkeeper.

other.

Briefly describe the books and records kept at this location.
BOOKS AND RECORDS FOR RIA

Name of entity where books and records are kept:
KOTAK ALTERNATE ASSET MANAGERS LIMITED

Number and Street 1: Number and Street 2:
KOTAK HOUSE, 5TH FLOOR NO.22, M.G. ROAD
City: State: Country: ZIP+4/Postal Code:
BANGALORE India 560001

If this address is a private residence, check this box:

Telephone Number: Facsimile number, if any:
+91 8976929910

This is (check one):
one of your branch offices or affiliates.

a third-party unaffiliated recordkeeper.

other.

Briefly describe the books and records kept at this location.
BOOKS AND RECORDS FOR THE RIA

Name of entity where books and records are kept:
KOTAK ALTERNATE ASSET MANAGERS LIMITED

Number and Street 1: Number and Street 2:
7TH FLOOR, VENUS AMADEUS JODHPUR CROSS ROAD, SATELLITE
City: State: Country: ZIP+4/Postal Code:
AHMEDABAD India 380015

If this address is a private residence, check this box:
Telephone Number: Facsimile number, if any:
+91 6359988850

This is (check one):
one of your branch offices or affiliates.

a third-party unaffiliated recordkeeper.

other.

Briefly describe the books and records kept at this location.
BOOKS AND RECORDS FOR THE RIA

SECTION 1.M. Registration with Foreign Financial Regulatory Authorities

List the name and country, in English, of each foreign financial regulatory authority with which you are registered. You must complete a separate Schedule D Section 1.M. for each
foreign financial regulatory authority with whom you are registered.

Name of Country/Foreign Financial Regulatory Authority:
India - Securities and Exchange Board of India

Other:

Name of Country/Foreign Financial Regulatory Authority:
Other

Other:
INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY

Item 2 SEC Registration/Reporting

Responses to this Item help us (and you) determine whether you are eligible to register with the SEC. Complete this Item 2.A. only if you are applying for SEC registration or
submitting an annual updating amendment to your SEC registration. If you are filing an umbrella registration, the information in Item 2 should be provided for the filing adviser only.

A. To register (or remain registered) with the SEC, you must check at least one of the Items 2.A.(1) through 2.A.(12), below. If you are submitting an annual updating
amendment to your SEC registration and you are no longer eligible to register with the SEC, check Item 2.A.(13). Part 1A Instruction 2 provides information to help you
determine whether you may affirmatively respond to each of these items.
You (the adviser):

(1) are a large advisory firm that either:

(a) has regulatory assets under management of $100 million (in U.S. dollars) or more; or

(b) has regulatory assets under management of $90 million (in U.S. dollars) or more at the time of filing its most recent annual updating amendment and is
registered with the SEC;

(2) are a mid-sized advisory firm that has regulatory assets under management of $25 million (in U.S. dollars) or more but less than $100 million (in U.S. dollars) and
you are either:

(a) not required to be registered as an adviser with the state securities authority of the state where you maintain your principal office and place of business; or

(b) not subject to examination by the state securities authority of the state where you maintain your principal office and place of business;

Click HERE for a list of states in which an investment adviser, if registered, would not be subject to examination by the state securities authority.

(3) Reserved

(4) have your principal office and place of business outside the United States;

(5) are an investment adviser (or subadviser) to an investment company registered under the Investment Company Act of 1940;

(6) are an investment adviser to a company which has elected to be a business development company pursuant to section 54 of the Investment Company Act of
1940 and has not withdrawn the election, and you have at least $25 million of regulatory assets under management;

(7) are a pension consultant with respect to assets of plans having an aggregate value of at least $200,000,000 that qualifies for the exemption in rule 203A-2(a);

(8) are a related adviser under rule 203A-2(b) that controls, is controlled by, or is under common control with, an investment adviser that is registered with the SEC,
and your principal office and place of business is the same as the registered adviser;

If you check this box, complete Section 2.A.(8) of Schedule D.

(9) are an adviser relying on rule 203A-2(c) because you expect to be eligible for SEC registration within 120 days;
If you check this box, complete Section 2.A.(9) of Schedule D.

(10) are a multi-state adviser that is required to register in 15 or more states and is relying on rule 203A-2(d);

If you check this box, complete Section 2.A.(10) of Schedule D.

(11) are an Internet adviser relying on rule 203A-2(e);

If you check this box, complete Section 2.A.(11) of Schedule D.

(12) have received an SEC order exempting you from the prohibition against registration with the SEC;

If you check this box, complete Section 2.A.(12) of Schedule D.

(13) are no longer eligible to remain registered with the SEC.

State Securities Authority Notice Filings and State Reporting by Exempt Reporting Advisers
C. Under state laws, SEC-registered advisers may be required to provide to state securities authorities a copy of the Form ADV and any amendments they file with the SEC.
These are called notice filings. In addition, exempt reporting advisers may be required to provide state securities authorities with a copy of reports and any amendments they
file with the SEC. If this is an initial application or report, check the box(es) next to the state(s) that you would like to receive notice of this and all subsequent filings or
reports you submit to the SEC. If this is an amendment to direct your notice filings or reports to additional state(s), check the box(es) next to the state(s) that you would like
to receive notice of this and all subsequent filings or reports you submit to the SEC. If this is an amendment to your registration to stop your notice filings or reports from
going to state(s) that currently receive them, uncheck the box(es) next to those state(s).

Jurisdictions

AL IL NE SC
AK IN NV SD
AZ IA NH TN
AR KS NJ TX
CA KY NM UT
CO LA NY VT
CT ME NC VI
DE MD ND VA
DC MA OH WA
FL MI OK WV
GA MN OR WI
GU MS PA WY
HI MO PR
ID MT RI

If you are amending your registration to stop your notice filings or reports from going to a state that currently receives them and you do not want to pay that state's notice filing or
report filing fee for the coming year, your amendment must be filed before the end of the year (December 31).

SECTION 2.A.(8) Related Adviser
If you are relying on the exemption in rule 203A-2(b) from the prohibition on registration because you control, are controlled by, or are under common control with an investment
adviser that is registered with the SEC and your principal office and place of business is the same as that of the registered adviser, provide the following information:

Name of Registered Investment Adviser

CRD Number of Registered Investment Adviser

SEC Number of Registered Investment Adviser
-

SECTION 2.A.(9) Investment Adviser Expecting to be Eligible for Commission Registration within 120 Days
If you are relying on rule 203A-2(c), the exemption from the prohibition on registration available to an adviser that expects to be eligible for SEC registration within 120 days, you
are required to make certain representations about your eligibility for SEC registration. By checking the appropriate boxes, you will be deemed to have made the required
representations. You must make both of these representations:
I am not registered or required to be registered with the SEC or a state securities authority and I have a reasonable expectation that I will be eligible to register with the SEC
within 120 days after the date my registration with the SEC becomes effective.
I undertake to withdraw from SEC registration if, on the 120th day after my registration with the SEC becomes effective, I would be prohibited by Section 203A(a) of the
Advisers Act from registering with the SEC.

SECTION 2.A.(10) Multi-State Adviser
If you are relying on rule 203A-2(d), the multi-state adviser exemption from the prohibition on registration, you are required to make certain representations about your eligibility
for SEC registration. By checking the appropriate boxes, you will be deemed to have made the required representations.

If you are applying for registration as an investment adviser with the SEC, you must make both of these representations:
I have reviewed the applicable state and federal laws and have concluded that I am required by the laws of 15 or more states to register as an investment adviser with the
state securities authorities in those states.
I undertake to withdraw from SEC registration if I file an amendment to this registration indicating that I would be required by the laws of fewer than 15 states to register a s
an investment adviser with the state securities authorities of those states.

If you are submitting your annual updating amendment, you must make this representation:
Within 90 days prior to the date of filing this amendment, I have reviewed the applicable state and federal laws and have concluded that I am required by the laws of at least
15 states to register as an investment adviser with the state securities authorities in those states.

SECTION 2.A.(11) Internet Adviser
If you are relying on rule 203A-2(e), the Internet adviser exemption from the prohibition on registration, you are required to make a representation about your eligibility for SEC
registration. By checking the appropriate box, you will be deemed to have made the required representation.

If you are applying for registration as an investment adviser with the SEC or changing your existing Item 2 response regarding your eligibility for SEC registration, you must make
this representation:
I will provide investment advice on an ongoing basis to more than one client exclusively through an operational interactive website.
If you are filing an annual updating amendment to your existing registration and are continuing to rely on the Internet adviser exemption for SEC registration, you must make
this representation:
I have provided and will continue to provide investment advice on an ongoing basis to more than one client exclusively through an operational interactive website.

SECTION 2.A.(12) SEC Exemptive Order
If you are relying upon an SEC order exempting you from the prohibition on registration, provide the following information:

Application Number:
803-

Date of order:

Item 3 Form of Organization
If you are filing an umbrella registration, the information in Item 3 should be provided for the filing adviser only.
A. How are you organized?
Corporation

Sole Proprietorship

Limited Liability Partnership (LLP)

Partnership

Limited Liability Company (LLC)

Limited Partnership (LP)

Other (specify):

If you are changing your response to this Item, see Part 1A Instruction 4.

B. In what month does your fiscal year end each year?
MARCH

C. Under the laws of what state or country are you organized?
State Country
India

If you are a partnership, provide the name of the state or country under whose laws your partnership was formed. If you are a sole proprietor, provide the name of the state or
country where you reside.

If you are changing your response to this Item, see Part 1A Instruction 4.

Item 4 Successions
Yes No
A. Are you, at the time of this filing, succeeding to the business of a registered investment adviser, including, for example, a change of your structure or legal status
(e.g., form of organization or state of incorporation)?

If "yes", complete Item 4.B. and Section 4 of Schedule D.

B. Date of Succession: (MM/DD/YYYY)

If you have already reported this succession on a previous Form ADV filing, do not report the succession again. Instead, check "No." See Part 1A Instruction 4.

SECTION 4 Successions

No Information Filed

Item 5 Information About Your Advisory Business - Employees, Clients, and Compensation

Responses to this Item help us understand your business, assist us in preparing for on-site examinations, and provide us with data we use when making regulatory policy. Part
1A Instruction 5.a. provides additional guidance to newly formed advisers for completing this Item 5.

Employees

If you are organized as a sole proprietorship, include yourself as an employee in your responses to Item 5.A. and Items 5.B.(1), (2), (3), (4), and (5). If an employee performs more than
one function, you should count that employee in each of your responses to Items 5.B.(1), (2), (3), (4), and (5).

A. Approximately how many employees do you have? Include full- and part-time employees but do not include any clerical workers.
214

B. (1) Approximately how many of the employees reported in 5.A. perform investment advisory functions (including research)?
50
(2) Approximately how many of the employees reported in 5.A. are registered representatives of a broker-dealer?
0
(3) Approximately how many of the employees reported in 5.A. are registered with one or more state securities authorities as investment adviser representatives?
0
(4) Approximately how many of the employees reported in 5.A. are registered with one or more state securities authorities as investment adviser representatives for an
investment adviser other than you?
0
(5) Approximately how many of the employees reported in 5.A. are licensed agents of an insurance company or agency?
0
(6) Approximately how many firms or other persons solicit advisory clients on your behalf?
0

In your response to Item 5.B.(6), do not count any of your employees and count a firm only once – do not count each of the firm's employees that solicit on your behalf.

Clients

In your responses to Items 5.C. and 5.D. do not include as "clients" the investors in a private fund you advise, unless you have a separate advisory relationship with those investors.

C. (1) To approximately how many clients for whom you do not have regulatory assets under management did you provide investment advisory services during your most
recently completed fiscal year?
0
(2) Approximately what percentage of your clients are non-United States persons?
100%

D. For purposes of this Item 5.D., the category "individuals" includes trusts, estates, and 401(k) plans and IRAs of individuals and their family members, but does not include
businesses organized as sole proprietorships.
The category "business development companies" consists of companies that have made an election pursuant to section 54 of the Investment Company Act of 1940. Unless you
provide advisory services pursuant to an investment advisory contract to an investment company registered under the Investment Company Act of 1940, do not answer (1)(d) or
(3)(d) below.

Indicate the approximate number of your clients and amount of your total regulatory assets under management (reported in Item 5.F. below) attributable to each of the
following type of client. If you have fewer than 5 clients in a particular category (other than (d), (e), and (f)) you may check Item 5.D.(2) rather than respond to Item 5.D.(1).

The aggregate amount of regulatory assets under management reported in Item 5.D.(3) should equal the total amount of regulatory assets under management reported in
Item 5.F.(2)(c) below.
If a client fits into more than one category, select one category that most accurately represents the client to avoid double counting clients and assets. If you advise a
registered investment company, business development company, or pooled investment vehicle, report those assets in categories (d), (e), and (f) as applicable.

(1) Number of (2) Fewer than 5 (3) Amount of Regulatory Assets under
Type of Client Client(s) Clients Management
(a) Individuals (other than high net worth individuals) $
(b) High net worth individuals 1181 $ 6,843,359,046
(c) Banking or thrift institutions $
(d) Investment companies $
(e) Business development companies $
(f) Pooled investment vehicles (other than investment companies and business 27 $ 3,910,915,827
development companies)
(g) Pension and profit sharing plans (but not the plan participants or government $
pension plans)
(h) Charitable organizations $
(i) State or municipal government entities (including government pension plans) $
(j) Other investment advisers $
(k) Insurance companies $
(l) Sovereign wealth funds and foreign official institutions $
(m) Corporations or other businesses not listed above 637 $ 7,763,617,384
(n) Other: $

Compensation Arrangements
E. You are compensated for your investment advisory services by (check all that apply):
(1) A percentage of assets under your management
(2) Hourly charges
(3) Subscription fees (for a newsletter or periodical)
(4) Fixed fees (other than subscription fees)
(5) Commissions
(6) Performance-based fees
(7) Other (specify):

Item 5 Information About Your Advisory Business - Regulatory Assets Under Management
Regulatory Assets Under Management
Yes No
F. (1) Do you provide continuous and regular supervisory or management services to securities portfolios?

(2) If yes, what is the amount of your regulatory assets under management and total number of accounts?
U.S. Dollar Amount Total Number of Accounts
Discretionary: (a) $ 3,813,664,039 (d) 24
Non-Discretionary: (b) $ 14,704,228,218 (e) 1,821
Total: (c) $ 18,517,892,257 (f) 1,845

Part 1A Instruction 5.b. explains how to calculate your regulatory assets under management. You must follow these instructions carefully when completing this Item.

(3) What is the approximate amount of your total regulatory assets under management (reported in Item 5.F.(2)(c) above) attributable to clients who are non-United States
persons?
$ 14,965,629,533

Item 5 Information About Your Advisory Business - Advisory Activities
Advisory Activities
G. What type(s) of advisory services do you provide? Check all that apply.
(1) Financial planning services
(2) Portfolio management for individuals and/or small businesses
(3) Portfolio management for investment companies (as well as "business development companies" that have made an election pursuant to section 54 of the
Investment Company Act of 1940)
(4) Portfolio management for pooled investment vehicles (other than investment companies)
(5) Portfolio management for businesses (other than small businesses) or institutional clients (other than registered investment companies and other pooled
investment vehicles)
(6) Pension consulting services
(7) Selection of other advisers (including private fund managers)
(8) Publication of periodicals or newsletters
(9) Security ratings or pricing services
(10) Market timing services
(11) Educational seminars/workshops
(12) Other(specify): INVESTMENT ADVISORY SERVICES TO CLIENTS, INCLUDING HIGH NET WORTH INDIVIDUALS, BUSINESSES AND POOLED INVESTMENT VEHICLES

Do not check Item 5.G.(3) unless you provide advisory services pursuant to an investment advisory contract to an investment company registered under the Investment Company
Act of 1940, including as a subadviser. If you check Item 5.G.(3), report the 811 or 814 number of the investment company or investment companies to which you provide advice
in Section 5.G.(3) of Schedule D.

H. If you provide financial planning services, to how many clients did you provide these services during your last fiscal year?
0

1 - 10
11 - 25
26 - 50
51 - 100
101 - 250
251 - 500
More than 500
If more than 500, how many?
(round to the nearest 500)

In your responses to this Item 5.H., do not include as "clients" the investors in a private fund you advise, unless you have a separate advisory relationship with those investors.

Yes No
I. (1) Do you participate in a wrap fee program?

(2) If you participate in a wrap fee program, what is the amount of your regulatory assets under management attributable to acting as:
(a) sponsor to a wrap fee program
$
(b) portfolio manager for a wrap fee program?
$
(c) sponsor to and portfolio manager for the same wrap fee program?
$

If you report an amount in Item 5.I.(2)(c), do not report that amount in Item 5.I.(2)(a) or Item 5.I.(2)(b).

If you are a portfolio manager for a wrap fee program, list the names of the programs, their sponsors and related information in Section 5.I.(2) of Schedule D.

If your involvement in a wrap fee program is limited to recommending wrap fee programs to your clients, or you advise a mutual fund that is offered through a wrap fee program, do
not check Item 5.I.(1) or enter any amounts in response to Item 5.I.(2).
Yes No
J. (1) In response to Item 4.B. of Part 2A of Form ADV, do you indicate that you provide investment advice only with respect to limited types of investments?

(2) Do you report client assets in Item 4.E. of Part 2A that are computed using a different method than the method used to compute your regulatory assets under
management?

K. Separately Managed Account Clients
Yes No
(1) Do you have regulatory assets under management attributable to clients other than those listed in Item 5.D.(3)(d)-(f) (separately managed account clients)?

If yes, complete Section 5.K.(1) of Schedule D.

(2) Do you engage in borrowing transactions on behalf of any of the separately managed account clients that you advise?

If yes, complete Section 5.K.(2) of Schedule D.

(3) Do you engage in derivative transactions on behalf of any of the separately managed account clients that you advise?

If yes, complete Section 5.K.(2) of Schedule D.

(4) After subtracting the amounts in Item 5.D.(3)(d)-(f) above from your total regulatory assets under management, does any custodian hold ten percent or more
of this remaining amount of regulatory assets under management?

If yes, complete Section 5.K.(3) of Schedule D for each custodian.

L. Marketing Activities
Yes No
(1) Do any of your advertisements include:

(a) Performance results?
(b) A reference to specific investment advice provided by you (as that phrase is used in rule 206(4)-1(a)(5))?

(d) Endorsements (other than those that satisfy rule 206(4)-1(b)(4)(ii))?

(e) Third-party ratings?

(2) If you answer "yes" to L(1)(c), (d), or (e) above, do you pay or otherwise provide cash or non-cash compensation, directly or indirectly, in connection with the
use of testimonials, endorsements, or third-party ratings?

(3) Do any of your advertisements include hypothetical performance ?

(4) Do any of your advertisements include predecessor performance ?

SECTION 5.G.(3) Advisers to Registered Investment Companies and Business Development Companies

No Information Filed

SECTION 5.I.(2) Wrap Fee Programs

No Information Filed

SECTION 5.K.(1) Separately Managed Accounts
After subtracting the amounts reported in Item 5.D.(3)(d)-(f) from your total regulatory assets under management, indicate the approximate percentage of this remaining amount
attributable to each of the following categories of assets. If the remaining amount is at least $10 billion in regulatory assets under management, complete Question (a). If the
remaining amount is less than $10 billion in regulatory assets under management, complete Question (b).

Any regulatory assets under management reported in Item 5.D.(3)(d), (e), and (f) should not be reported below.

If you are a subadviser to a separately managed account, you should only provide information with respect to the portion of the account that you subadvise.

End of year refers to the date used to calculate your regulatory assets under management for purposes of your annual updating amendment . Mid-year is the date six months
before the end of year date. Each column should add up to 100% and numbers should be rounded to the nearest percent.

Investments in derivatives, registered investment companies, business development companies, and pooled investment vehicles should be reported in those categories. Do not
report those investments based on related or underlying portfolio assets. Cash equivalents include bank deposits, certificates of deposit, bankers' acceptances and similar bank
instruments.

Some assets could be classified into more than one category or require discretion about which category applies. You may use your own internal methodologies and the
conventions of your service providers in determining how to categorize assets, so long as the methodologies or conventions are consistently applied and consistent with
information you report internally and to current and prospective clients. However, you should not double count assets, and your responses must be consistent with any
instructions or other guidance relating to this Section.

(a) Asset Type Mid-year End of year
(i) Exchange-Traded Equity Securities % %
(ii) Non Exchange-Traded Equity Securities % %
(iii) U.S. Government/Agency Bonds % %
(iv) U.S. State and Local Bonds % %
(v) Sovereign Bonds % %
(vi) Investment Grade Corporate Bonds % %
(vii) Non-Investment Grade Corporate Bonds % %
(viii) Derivatives % %
(ix) Securities Issued by Registered Investment Companies or Business Development Companies % %
(x) Securities Issued by Pooled Investment Vehicles (other than Registered Investment Companies or Business Development % %
Companies)
(xi) Cash and Cash Equivalents % %
(xii) Other % %
Generally describe any assets included in "Other"
(b) Asset Type End of year
(i) Exchange-Traded Equity Securities 12 %
(ii) Non Exchange-Traded Equity Securities 1%
(iii) U.S. Government/Agency Bonds 0%
(iv) U.S. State and Local Bonds 0%
(v) Sovereign Bonds 0%
(vi) Investment Grade Corporate Bonds 12 %
(vii) Non-Investment Grade Corporate Bonds 0%
(viii) Derivatives 0%
(ix) Securities Issued by Registered Investment Companies or Business Development Companies 0%
(x) Securities Issued by Pooled Investment Vehicles (other than Registered Investment Companies or Business Development Companies) 55 %
(xi) Cash and Cash Equivalents 2%
(xii) Other 16 %
Generally describe any assets included in "Other"
REITS, INVITS, OTHER PORTFOLIO MANAGEMENT SERVICES

SECTION 5.K.(2) Separately Managed Accounts - Use of Borrowingsand Derivatives

No information is required to be reported in this Section 5.K.(2) per the instructions of this Section 5.K.(2)

If your regulatory assets under management attributable to separately managed accounts are at least $10 billion, you should complete Question (a). If your regulatory assets
under management attributable to separately managed accounts are at least $500 million but less than $10 billion, you should complete Question (b).

(a) In the table below, provide the following information regarding the separately managed accounts you advise. If you are a subadviser to a separately managed account, you
should only provide information with respect to the portion of the account that you subadvise. End of year refers to the date used to calculate your regulatory assets under
management for purposes of your annual updating amendment. Mid-year is the date six months before the end of year date.

In column 1, indicate the regulatory assets under management attributable to separately managed accounts associated with each level of gross notional exposure. For
purposes of this table, the gross notional exposure of an account is the percentage obtained by dividing (i) the sum of (a) the dollar amount of any borrowings and (b) the
gross notional value of all derivatives, by (ii) the regulatory assets under management of the account.

In column 2, provide the dollar amount of borrowings for the accounts included in column 1.

In column 3, provide aggregate gross notional value of derivatives divided by the aggregate regulatory assets under management of the accounts included in column 1 with
respect to each category of derivatives specified in 3(a) through (f).

You may, but are not required to, complete the table with respect to any separately managed account with regulatory assets under management of less than $10,000,000.

Any regulatory assets under management reported in Item 5.D.(3)(d), (e), and (f) should not be reported below.

(i) Mid-Year

Gross Notional (1) Regulatory Assets Under (2)
Exposure Management Borrowings (3) Derivative Exposures
(b) Foreign
(a) Interest Rate Exchange (c) Credit (d) Equity (e) Commodity (f) Other
Derivative Derivative Derivative Derivative Derivative Derivative
Less than 10% $ $ % % % % % %

10-149% $ $ % % % % % %

150% or more $ $ % % % % % %

Optional: Use the space below to provide a narrative description of the strategies and/or manner in which borrowings and derivatives are used in the management of the
separately managed accounts that you advise.

(ii) End of Year

10-149% $ $ % % % % % %

150% or more $ $ % % % % % %

(b) In the table below, provide the following information regarding the separately managed accounts you advise as of the date used to calculate your regulatory assets under
management for purposes of your annual updating amendment. If you are a subadviser to a separately managed account, you should only provide information with respect
to the portion of the account that you subadvise.

In column 2, provide the dollar amount of borrowings for the accounts included in column 1.

You may, but are not required to, complete the table with respect to any separately managed accounts with regulatory assets under management of less than $10,000,000.

Any regulatory assets under management reported in Item 5.D.(3)(d), (e), and (f) should not be reported below.

Gross Notional Exposure (1) Regulatory Assets Under Management (2) Borrowings
Less than 10% $ $

10-149% $ $

150% or more $ $

SECTION 5.K.(3) Custodians for Separately Managed Accounts

No Information Filed

Item 6 Other Business Activities

In this Item, we request information about your firm's other business activities.

A. You are actively engaged in business as a (check all that apply):
(1) broker-dealer (registered or unregistered)
(2) registered representative of a broker-dealer
(3) commodity pool operator or commodity trading advisor (whether registered or exempt from registration)
(4) futures commission merchant
(5) real estate broker, dealer, or agent
(6) insurance broker or agent
(7) bank (including a separately identifiable department or division of a bank)
(8) trust company
(9) registered municipal advisor
(10) registered security-based swap dealer
(11) major security-based swap participant
(12) accountant or accounting firm
(13) lawyer or law firm
(14) other financial product salesperson (specify):

If you engage in other business using a name that is different from the names reported in Items 1.A. or 1.B.(1), complete Section 6.A. of Schedule D.
Yes No
B. (1) Are you actively engaged in any other business not listed in Item 6.A. (other than giving investment advice)?

(2) If yes, is this other business your primary business?

If "yes," describe this other business on Section 6.B.(2) of Schedule D, and if you engage in this business under a different name, provide that name.
Yes No
(3) Do you sell products or provide services other than investment advice to your advisory clients?

If "yes," describe this other business on Section 6.B.(3) of Schedule D, and if you engage in this business under a different name, provide that name.
SECTION 6.A. Names of Your Other Businesses

No Information Filed

SECTION 6.B.(2) Description of Primary Business
Describe your primary business (not your investment advisory business):

If you engage in that business under a different name, provide that name:

SECTION 6.B.(3) Description of Other Products and Services
Describe other products or services you sell to your client. You may omit products and services that you listed in Section 6.B.(2) above.

If you engage in that business under a different name, provide that name:

Item 7 Financial Industry Affiliations

In this Item, we request information about your financial industry affiliations and activities. This information identifies areas in which conflicts of interest may occur between you
and your clients.

A. This part of Item 7 requires you to provide information about you and your related persons, including foreign affiliates. Your related persons are all of your advisory affiliates
and any person that is under common control with you.
You have a related person that is a (check all that apply):
(1) broker-dealer, municipal securities dealer, or government securities broker or dealer (registered or unregistered)
(2) other investment adviser (including financial planners)
(3) registered municipal advisor
(4) registered security-based swap dealer
(5) major security-based swap participant
(6) commodity pool operator or commodity trading advisor (whether registered or exempt from registration)
(7) futures commission merchant
(8) banking or thrift institution
(9) trust company
(10) accountant or accounting firm
(11) lawyer or law firm
(12) insurance company or agency
(13) pension consultant
(14) real estate broker or dealer
(15) sponsor or syndicator of limited partnerships (or equivalent), excluding pooled investment vehicles
(16) sponsor, general partner, managing member (or equivalent) of pooled investment vehicles

Note that Item 7.A. should not be used to disclose that some of your employees perform investment advisory functions or are registered representatives of a broker-dealer. The
number of your firm's employees who perform investment advisory functions should be disclosed under Item 5.B.(1). The number of your firm's employees who are registered
representatives of a broker-dealer should be disclosed under Item 5.B.(2).

Note that if you are filing an umbrella registration, you should not check Item 7.A.(2) with respect to your relying advisers, and you do not have to complete Section 7.A. in
Schedule D for your relying advisers. You should complete a Schedule R for each relying adviser.

For each related person, including foreign affiliates that may not be registered or required to be registered in the United States, complete Section 7.A. of Schedule D.

You do not need to complete Section 7.A. of Schedule D for any related person if: (1) you have no business dealings with the related person in connection with advisory services you
provide to your clients; (2) you do not conduct shared operations with the related person; (3) you do not refer clients or business to the related person, and the related person does
not refer prospective clients or business to you; (4) you do not share supervised persons or premises with the related person; and (5) you have no reason to believe that your
relationship with the related person otherwise creates a conflict of interest with your clients.

You must complete Section 7.A. of Schedule D for each related person acting as qualified custodian in connection with advisory services you provide to your clients (other than any
mutual fund transfer agent pursuant to rule 206(4)-2(b)(1)), regardless of whether you have determined the related person to be operationally independent under rule 206(4)-2 of
the Advisers Act.

SECTION 7.A. Financial Industry Affiliations

Complete a separate Schedule D Section 7.A. for each related person listed in Item 7.A.

1. Legal Name of Related Person:
KOTAK MAHINDRA (INTERNATIONAL) LIMITED

2. Primary Business Name of Related Person:
KOTAK MAHINDRA (INTERNATIONAL) LIMITED
3. Related Person's SEC File Number (if any) (e.g., 801-, 8-, 866-, 802-)
801 - 76440
or
Other

4. Related Person's
(a) CRD Number (if any):

(b) CIK Number(s) (if any):
No Information Filed

5. Related Person is: (check all that apply)
(a) broker-dealer, municipal securities dealer, or government securities broker or dealer
(b) other investment adviser (including financial planners)
(c) registered municipal advisor
(d) registered security-based swap dealer
(e) major security-based swap participant
(f) commodity pool operator or commodity trading advisor (whether registered or exempt from registration)
(g) futures commission merchant
(h) banking or thrift institution
(i) trust company
(j) accountant or accounting firm
(k) lawyer or law firm
(l) insurance company or agency
(m) pension consultant
(n) real estate broker or dealer
(o) sponsor or syndicator of limited partnerships (or equivalent), excluding pooled investment vehicles
(p) sponsor, general partner, managing member (or equivalent) of pooled investment vehicles
Yes No
6. Do you control or are you controlled by the related person?

7. Are you and the related person under common control?

8. (a) Does the related person act as a qualified custodian for your clients in connection with advisory services you provide to clients?
(b) If you are registering or registered with the SEC and you have answered "yes," to question 8.(a) above, have you overcome the presumption that you are not
operationally independent (pursuant to rule 206(4)-2(d)(5)) from the related person and thus are not required to obtain a surprise examination for your clients'
funds or securities that are maintained at the related person?
(c) If you have answered "yes" to question 8.(a) above, provide the location of the related person's office responsible for custody of your clients' assets:
Number and Street 1: Number and Street 2:
City: State: Country: ZIP+4/Postal Code:
If this address is a private residence, check this box:
Yes No
9. (a) If the related person is an investment adviser, is it exempt from registration?

(b) If the answer is yes, under what exemption?
EXEMPT REPORTING ADVISER

10. (a) Is the related person registered with a foreign financial regulatory authority ?
(b) If the answer is yes, list the name and country, in English of each foreign financial regulatory authority with which the related person is registered.
Name of Country/English Name of Foreign Financial Regulatory Authority
India - Securities and Exchange Board of India
Mauritius, Republic of - Financial Services Commission

11. Do you and the related person share any supervised persons?

12. Do you and the related person share the same physical location?

1. Legal Name of Related Person:
KOTAK MAHINDRA LIFE INSURANCE COMPANY LTD

2. Primary Business Name of Related Person:
KOTAK MAHINDRA LIFE INSURANCE COMPANY LTD

3. Related Person's SEC File Number (if any) (e.g., 801-, 8-, 866-, 802-)
-
or
Other

4. Related Person's
(a) CRD Number (if any):

(b) CIK Number(s) (if any):
No Information Filed

7. Are you and the related person under common control?

(b) If the answer is yes, under what exemption?

10. (a) Is the related person registered with a foreign financial regulatory authority ?
(b) If the answer is yes, list the name and country, in English of each foreign financial regulatory authority with which the related person is registered.
Name of Country/English Name of Foreign Financial Regulatory Authority
Other - INDIA - INSURANCE REGULATORY & DEVELOPMENT AUTHORITY

11. Do you and the related person share any supervised persons?

12. Do you and the related person share the same physical location?

1. Legal Name of Related Person:
KOTAK MAHINDRA ASSET MANAGEMENT COMPANY

2. Primary Business Name of Related Person:
KOTAK MAHINDRA ASSET MANAGEMENT COMPANY

3. Related Person's SEC File Number (if any) (e.g., 801-, 8-, 866-, 802-)
-
or
Other

4. Related Person's
(a) CRD Number (if any):
(b) CIK Number(s) (if any):
No Information Filed

7. Are you and the related person under common control?

(b) If the answer is yes, under what exemption?

11. Do you and the related person share any supervised persons?

12. Do you and the related person share the same physical location?

1. Legal Name of Related Person:
KOTAK MAHINDRA ASSET MANAGEMENT (SINGAPORE) PTE. LTD.

2. Primary Business Name of Related Person:
KOTAK MAHINDRA ASSET MANAGEMENT (SINGAPORE) PTE. LTD.

3. Related Person's SEC File Number (if any) (e.g., 801-, 8-, 866-, 802-)
801 - 108865
or
Other

4. Related Person's
(a) CRD Number (if any):
286032
(b) CIK Number(s) (if any):
No Information Filed
5. Related Person is: (check all that apply)
(a) broker-dealer, municipal securities dealer, or government securities broker or dealer
(b) other investment adviser (including financial planners)
(c) registered municipal advisor
(d) registered security-based swap dealer
(e) major security-based swap participant
(f) commodity pool operator or commodity trading advisor (whether registered or exempt from registration)
(g) futures commission merchant
(h) banking or thrift institution
(i) trust company
(j) accountant or accounting firm
(k) lawyer or law firm
(l) insurance company or agency
(m) pension consultant
(n) real estate broker or dealer
(o) sponsor or syndicator of limited partnerships (or equivalent), excluding pooled investment vehicles
(p) sponsor, general partner, managing member (or equivalent) of pooled investment vehicles
Yes No
6. Do you control or are you controlled by the related person?

7. Are you and the related person under common control?

(b) If the answer is yes, under what exemption?

11. Do you and the related person share any supervised persons?

12. Do you and the related person share the same physical location?

1. Legal Name of Related Person:
KOTAK MAHINDRA BANK LTD

2. Primary Business Name of Related Person:
KOTAK MAHINDRA BANK LTD

3. Related Person's SEC File Number (if any) (e.g., 801-, 8-, 866-, 802-)
-
or
Other

4. Related Person's
(a) CRD Number (if any):

(b) CIK Number(s) (if any):
No Information Filed

7. Are you and the related person under common control?

8. (a) Does the related person act as a qualified custodian for your clients in connection with advisory services you provide to clients?
(b) If you are registering or registered with the SEC and you have answered "yes," to question 8.(a) above, have you overcome the presumption that you are not
operationally independent (pursuant to rule 206(4)-2(d)(5)) from the related person and thus are not required to obtain a surprise examination for your clients'
funds or securities that are maintained at the related person?
(c) If you have answered "yes" to question 8.(a) above, provide the location of the related person's office responsible for custody of your clients' assets:
Number and Street 1: Number and Street 2:
KOTAK INFINITI-2ND FLOOR INFINITY PARK OFF WESTERN EXPRESS HIGHWAY, GENERAL AK VAIDYA M
City: State: Country: ZIP+4/Postal Code:
MUMBAI India 400097
If this address is a private residence, check this box:
Yes No
9. (a) If the related person is an investment adviser, is it exempt from registration?

(b) If the answer is yes, under what exemption?

11. Do you and the related person share any supervised persons?

12. Do you and the related person share the same physical location?

1. Legal Name of Related Person:
KOTAK SECURITIES LTD.

2. Primary Business Name of Related Person:
KOTAK SECURITIES LTD.

3. Related Person's SEC File Number (if any) (e.g., 801-, 8-, 866-, 802-)
-
or
Other

4. Related Person's
(a) CRD Number (if any):

(b) CIK Number(s) (if any):
No Information Filed

7. Are you and the related person under common control?

8. (a) Does the related person act as a qualified custodian for your clients in connection with advisory services you provide to clients?
(b) If you are registering or registered with the SEC and you have answered "yes," to question 8.(a) above, have you overcome the presumption that you are not
operationally independent (pursuant to rule 206(4)-2(d)(5)) from the related person and thus are not required to obtain a surprise examination for your clients'
funds or securities that are maintained at the related person?
(c) If you have answered "yes" to question 8.(a) above, provide the location of the related person's office responsible for custody of your clients' assets:
Number and Street 1: Number and Street 2:
27 BKC, C 27, G BLOCK BANDRA KURLA COMPLEX
City: State: Country: ZIP+4/Postal Code:
MUMBAI India 400051
If this address is a private residence, check this box:
Yes No
9. (a) If the related person is an investment adviser, is it exempt from registration?

(b) If the answer is yes, under what exemption?

11. Do you and the related person share any supervised persons?

12. Do you and the related person share the same physical location?

1. Legal Name of Related Person:
KOTAK MAHINDRA CAPITAL COMPANY LTD.

2. Primary Business Name of Related Person:
KOTAK MAHINDRA CAPITAL COMPANY LTD.

3. Related Person's SEC File Number (if any) (e.g., 801-, 8-, 866-, 802-)
-
or
Other

4. Related Person's
(a) CRD Number (if any):

(b) CIK Number(s) (if any):
No Information Filed

7. Are you and the related person under common control?

(b) If the answer is yes, under what exemption?
FOREIGN PRIVATE ADVISER EXEMPTION

11. Do you and the related person share any supervised persons?

12. Do you and the related person share the same physical location?

1. Legal Name of Related Person:
KOTAK MAHINDRA TRUSTEESHIP SERVICES LIMITED

2. Primary Business Name of Related Person:
KOTAK MAHINDRA TRUSTEESHIP SERVICES LIMITED

3. Related Person's SEC File Number (if any) (e.g., 801-, 8-, 866-, 802-)
-
or
Other

4. Related Person's
(a) CRD Number (if any):

(b) CIK Number(s) (if any):
No Information Filed

7. Are you and the related person under common control?

(b) If the answer is yes, under what exemption?

10. (a) Is the related person registered with a foreign financial regulatory authority ?
(b) If the answer is yes, list the name and country, in English of each foreign financial regulatory authority with which the related person is registered.
No Information Filed
11. Do you and the related person share any supervised persons?

12. Do you and the related person share the same physical location?

1. Legal Name of Related Person:
KOTAK MAHINDRA, INC.

2. Primary Business Name of Related Person:
KOTAK MAHINDRA, INC.

3. Related Person's SEC File Number (if any) (e.g., 801-, 8-, 866-, 802-)
8 - 51740
or
Other

4. Related Person's
(a) CRD Number (if any):
47251
(b) CIK Number(s) (if any):
No Information Filed

(b) If the answer is yes, under what exemption?

10. (a) Is the related person registered with a foreign financial regulatory authority ?
(b) If the answer is yes, list the name and country, in English of each foreign financial regulatory authority with which the related person is registered.
No Information Filed
11. Do you and the related person share any supervised persons?

12. Do you and the related person share the same physical location?

Item 7 Private Fund Reporting

Yes No

B. Are you an adviser to any private fund?

If "yes," then for each private fund that you advise, you must complete a Section 7.B.(1) of Schedule D, except in certain circumstances described in the next sentence and in
Instruction 6 of the Instructions to Part 1A. If you are registered or applying for registration with the SEC or reporting as an SEC exempt reporting adviser, and another SEC-registered
adviser or SEC exempt reporting adviser reports this information with respect to any such private fund in Section 7.B.(1) of Schedule D of its Form ADV (e.g., if you are a subadviser),
do not complete Section 7.B.(1) of Schedule D with respect to that private fund. You must, instead, complete Section 7.B.(2) of Schedule D.

In either case, if you seek to preserve the anonymity of a private fund client by maintaining its identity in your books and records in numerical or alphabetical code, or similar
designation, pursuant to rule 204-2(d), you may identify the private fund in Section 7.B.(1) or 7.B.(2) of Schedule D using the same code or designation in place of the fund's name.

SECTION 7.B.(1) Private Fund Reporting

Funds per Page: 15 Total Funds: 5

A. PRIVATE FUND

Information About the Private Fund

1. (a) Name of the private fund:
KOTAK ICONIC FUND
(b) Private fund identification number:
(include the "805-" prefix also)
805-1535733392

2. Under the laws of what state or country is the private fund organized:
State: Country:
India

3. (a) Name(s) of General Partner, Manager, Trustee, or Directors (or persons serving in a similar capacity):
Name of General Partner, Manager, Trustee, or Director
KOTAK ALTERNATE ASSET MANAGERS LIMITED (MANAGER)
KOTAK MAHINDRA TRUSTEESHIP SERVICES LIMITED (TRUSTEE)

(b) If filing an umbrella registration, identify the filing adviser and/or relying adviser(s) that sponsor(s) or manage(s) this private fund.
No Information Filed
4. The private fund (check all that apply; you must check at least one):
(1) qualifies for the exclusion from the definition of investment company under section 3(c)(1) of the Investment Company Act of 1940
(2) qualifies for the exclusion from the definition of investment company under section 3(c)(7) of the Investment Company Act of 1940

5. List the name and country, in English, of each foreign financial regulatory authority with which the private fund is registered.
Name of Country/English Name of Foreign Financial Regulatory Authority
India - Securities and Exchange Board of India
Singapore - Monetary Authority of Singapore
United Kingdom - Financial Conduct Authority

Yes No
6. (a) Is this a "master fund" in a master-feeder arrangement?

(b) If yes, what is the name and private fund identification number (if any) of the feeder funds investing in this private fund?
No Information Filed

Yes No
(c) Is this a "feeder fund" in a master-feeder arrangement?

(d) If yes, what is the name and private fund identification number (if any) of the master fund in which this private fund invests?
Name of private fund:

Private fund identification number:
(include the "805-" prefix also)

NOTE: You must complete question 6 for each master-feeder arrangement regardless of whether you are filing a single Schedule D, Section 7.B.(1) for the master-feeder
arrangement or reporting on the funds separately.

7. If you are filing a single Schedule D, Section 7.B.(1) for a master-feeder arrangement according to the instructions to this Section 7.B.(1), for each of the feeder funds
answer the following questions:

No Information Filed

NOTE: For purposes of questions 6 and 7, in a master-feeder arrangement, one or more funds ("feeder funds") invest all or substantially all of their assets in a single
fund ("master fund"). A fund would also be a "feeder fund" investing in a "master fund" for purposes of this question if it issued multiple classes (or series) of shares or
interests, and each class (or series) invests substantially all of its assets in a single master fund.
Yes No
8. (a) Is this private fund a "fund of funds"?

NOTE: For purposes of this question only, answer "yes" if the fund invests 10 percent or more of its total assets in other pooled investment vehicles, regardless of
whether they are also private funds or registered investment companies.
(b) If yes, does the private fund invest in funds managed by you or by a related person?

Yes No
9. During your last fiscal year, did the private fund invest in securities issued by investment companies registered under the Investment Company Act of 1940
(other than "money market funds," to the extent provided in Instruction 6.e.)?

10. What type of fund is the private fund?

hedge fund liquidity fund private equity fund real estate fund securitized asset fund venture capital fund Other private fund: MULTI ASSET FUND
INVESTING IN LISTED INDIAN EQUITY AND DEBT SECURITIES

NOTE: For definitions of these fund types, please see Instruction 6 of the Instructions to Part 1A.

11. Current gross asset value of the private fund:
$ 276,900,773

Ownership

12. Minimum investment commitment required of an investor in the private fund:
$ 105,652
NOTE: Report the amount routinely required of investors who are not your related persons (even if different from the amount set forth in the organizational documents of
the fund).
13. Approximate number of the private fund's beneficial owners:
60

14. What is the approximate percentage of the private fund beneficially owned by you and your related persons:
0%

15. (a) What is the approximate percentage of the private fund beneficially owned (in the aggregate) by funds of funds:
0%
Yes No
(b) If the private fund qualifies for the exclusion from the definition of investment company under section 3(c)(1) of the Investment Company Act of 1940, are
sales of the fund limited to qualified clients?

16. What is the approximate percentage of the private fund beneficially owned by non-United States persons:
90%

Your Advisory Services
Yes No
17. (a) Are you a subadviser to this private fund?

(b) If the answer to question 17.(a) is "yes," provide the name and SEC file number, if any, of the adviser of the private fund. If the answer to question 17.(a) is "no,"
leave this question blank.
No Information Filed

Yes No
18. (a) Do any investment advisers (other than the investment advisers listed in Section 7.B.(1).A.3.(b)) advise the private fund?

(b) If the answer to question 18.(a) is "yes," provide the name and SEC file number, if any, of the other advisers to the private fund. If the answer to question 18.(a) is
"no," leave this question blank.
No Information Filed

Yes No
19. Are your clients solicited to invest in the private fund?

NOTE: For purposes of this question, do not consider feeder funds of the private fund.

20. Approximately what percentage of your clients has invested in the private fund?
14%

Private Offering
Yes No
21. Has the private fund ever relied on an exemption from registration of its securities under Regulation D of the Securities Act of 1933?

22. If yes, provide the private fund's Form D file number (if any):
Form D file number
021-490868

B. SERVICE PROVIDERS

Auditors
Yes No
23. (a) (1) Are the private fund's financial statements subject to an annual audit?

(2) If the answer to question 23.(a)(1) is "yes," are the financial statements prepared in accordance with U.S. GAAP?

If the answer to question 23.(a)(1) is "yes," respond to questions (b) through (h) below. If the private fund uses more than one auditing firm, you must complete
questions (b) through (f) separately for each auditing firm.

Additional Auditor Information : 1 Record(s) Filed.

If the answer to question 23.(a)(1) is "yes," respond to questions (b) through (h) below. If the private fund uses more than one auditing firm, you must
complete questions (b) through (f) separately for each auditing firm.

(b) Name of the auditing firm:
MM CHITALE AND CO

(c) The location of the auditing firm's office responsible for the private fund's audit (city, state and country):
City: State: Country:
MUMBAI India
Yes No
(d) Is the auditing firm an independent public accountant?

(e) Is the auditing firm registered with the Public Company Accounting Oversight Board?

If yes, Public Company Accounting Oversight Board-Assigned Number:

(f) If "yes" to (e) above, is the auditing firm subject to regular inspection by the Public Company Accounting Oversight Board in accordance with its
rules?

Yes No
(g) Are the private fund's audited financial statements for the most recently completed fiscal year distributed to the private fund's investors?

(h) Do all of the reports prepared by the auditing firm for the private fund since your last annual updating amendment contain unqualified opinions?

Yes No Report Not Yet Received

If you check "Report Not Yet Received," you must promptly file an amendment to your Form ADV to update your response when the report is available.

Prime Broker
Yes No
24. (a) Does the private fund use one or more prime brokers?

If the answer to question 24.(a) is "yes," respond to questions (b) through (e) below for each prime broker the private fund uses. If the private fund uses more than
one prime broker, you must complete questions (b) through (e) separately for each prime broker.

No Information Filed

Custodian
Yes No
25. (a) Does the private fund use any custodians (including the prime brokers listed above) to hold some or all of its assets?

If the answer to question 25.(a) is "yes," respond to questions (b) through (g) below for each custodian the private fund uses. If the private fund uses more than one
custodian, you must complete questions (b) through (g) separately for each custodian.

Additional Custodian Information : 1 Record(s) Filed.

If the answer to question 25.(a) is "yes," respond to questions (b) through g) below for each custodian the private fund uses. If the private fund uses more than
one custodian, you must complete questions (b) through (g) separately for each custodian.

(b) Legal name of custodian:
AXIS BANK LIMITED

(d) The location of the custodian's office responsible for custody of the private fund's assets (city, state and country):
City: State: Country:
MUMBAI India
Yes No
(e) Is the custodian a related person of your firm?

(f) If the custodian is a broker-dealer, provide its SEC registration number (if any):
-
CRD Number (if any):

(g) If the custodian is not a broker-dealer, or is a broker-dealer but does not have an SEC registration number, provide its legal entity identifier (if any)
549300HVNWMJPOFVNI41
Administrator
Yes No
26. (a) Does the private fund use an administrator other than your firm?

If the answer to question 26.(a) is "yes," respond to questions (b) through (f) below. If the private fund uses more than one administrator, you must complete
questions (b) through (f) separately for each administrator.

Additional Administrator Information : 1 Record(s) Filed.

(b) Name of administrator:
AXIS BANK LIMITED

(c) Location of administrator (city, state and country):
City: State: Country:
MUMBAI India
Yes No
(d) Is the administrator a related person of your firm?

(e) Does the administrator prepare and send investor account statements to the private fund's investors?
Yes (provided to all investors) Some (provided to some but not all investors) No (provided to no investors)

(f) If the answer to question 26.(e) is "no" or "some," who sends the investor account statements to the (rest of the) private fund's investors? If investor
account statements are not sent to the (rest of the) private fund's investors, respond "not applicable."
REGISTRAR AND TRANSFER AGENT - COMPUTER AGE MANAGEMENT SERVICES

27. During your last fiscal year, what percentage of the private fund's assets (by value) was valued by a person, such as an administrator, that is not your related person?
0%
Include only those assets where (i) such person carried out the valuation procedure established for that asset, if any, including obtaining any relevant quotes, and (ii)
the valuation used for purposes of investor subscriptions, redemptions or distributions, and fee calculations (including allocations) was the valuation determined by such
person.

Marketers
Yes No
28. (a) Does the private fund use the services of someone other than you or your employees for marketing purposes?

You must answer "yes" whether the person acts as a placement agent, consultant, finder, introducer, municipal advisor or other solicitor, or similar person. If the
answer to question 28.(a) is "yes," respond to questions (b) through (g) below for each such marketer the private fund uses. If the private fund uses more than one
marketer you must complete questions (b) through (g) separately for each marketer.

Additional Marketer Information : 1 Record(s) Filed.

You must answer "yes" whether the person acts as a placement agent, consultant, finder, introducer, municipal advisor or other solicitor, or similar person. If
the answer to question 28.(a) is "yes," respond to questions (b) through (g) below for each such marketer the private fund uses. If the private fund uses more
than one marketer, you must complete questions (b) through (g) separately for each marketer.

Yes No
(b) Is the marketer a related person of your firm?

(d) If the marketer is registered with the SEC, its file number (e.g., 801-, 8-, or 866-):
8 - 51740
and CRD Number (if any):
47251

(e) Location of the marketer's office used principally by the private fund (city, state and country):
City: State: Country:
NEW YORK New York United States
Yes No
(f) Does the marketer market the private fund through one or more websites?

(g) If the answer to question 28.(f) is "yes," list the website address(es):
No Information Filed

A. PRIVATE FUND

Information About the Private Fund

1. (a) Name of the private fund:
KOTAK ICONIC FUND II
(b) Private fund identification number:
(include the "805-" prefix also)
805-2411438811

2. Under the laws of what state or country is the private fund organized:
State: Country:
India

(b) If filing an umbrella registration, identify the filing adviser and/or relying adviser(s) that sponsor(s) or manage(s) this private fund.
No Information Filed

4. The private fund (check all that apply; you must check at least one):
(1) qualifies for the exclusion from the definition of investment company under section 3(c)(1) of the Investment Company Act of 1940
(2) qualifies for the exclusion from the definition of investment company under section 3(c)(7) of the Investment Company Act of 1940

Yes No
6. (a) Is this a "master fund" in a master-feeder arrangement?

(b) If yes, what is the name and private fund identification number (if any) of the feeder funds investing in this private fund?
No Information Filed

Yes No
(c) Is this a "feeder fund" in a master-feeder arrangement?

(d) If yes, what is the name and private fund identification number (if any) of the master fund in which this private fund invests?
Name of private fund:

Private fund identification number:
(include the "805-" prefix also)

10. What type of fund is the private fund?

hedge fund liquidity fund private equity fund real estate fund securitized asset fund venture capital fund Other private fund: MULTI-ASSET FUND
INVESTING IN LISTED INDIAN EQUITY AND DEBT SECURITIES

NOTE: For definitions of these fund types, please see Instruction 6 of the Instructions to Part 1A.

11. Current gross asset value of the private fund:
$ 149,188,389

Ownership

13. Approximate number of the private fund's beneficial owners:
26

14. What is the approximate percentage of the private fund beneficially owned by you and your related persons:
1%

16. What is the approximate percentage of the private fund beneficially owned by non-United States persons:
91%

Your Advisory Services
Yes No
17. (a) Are you a subadviser to this private fund?

Yes No
18. (a) Do any investment advisers (other than the investment advisers listed in Section 7.B.(1).A.3.(b)) advise the private fund?

Yes No
19. Are your clients solicited to invest in the private fund?
NOTE: For purposes of this question, do not consider feeder funds of the private fund.

20. Approximately what percentage of your clients has invested in the private fund?
14%

Private Offering
Yes No
21. Has the private fund ever relied on an exemption from registration of its securities under Regulation D of the Securities Act of 1933?

22. If yes, provide the private fund's Form D file number (if any):
No Information Filed

B. SERVICE PROVIDERS

Auditors
Yes No
23. (a) (1) Are the private fund's financial statements subject to an annual audit?

(2) If the answer to question 23.(a)(1) is "yes," are the financial statements prepared in accordance with U.S. GAAP?

Additional Auditor Information : 1 Record(s) Filed.

If the answer to question 23.(a)(1) is "yes," respond to questions (b) through (h) below. If the private fund uses more than one auditing firm, you must
complete questions (b) through (f) separately for each auditing firm.

(b) Name of the auditing firm:
MM CHITALE AND CO

(e) Is the auditing firm registered with the Public Company Accounting Oversight Board?

If yes, Public Company Accounting Oversight Board-Assigned Number:

(f) If "yes" to (e) above, is the auditing firm subject to regular inspection by the Public Company Accounting Oversight Board in accordance with its
rules?

Yes No
(g) Are the private fund's audited financial statements for the most recently completed fiscal year distributed to the private fund's investors?

(h) Do all of the reports prepared by the auditing firm for the private fund since your last annual updating amendment contain unqualified opinions?

Yes No Report Not Yet Received

If you check "Report Not Yet Received," you must promptly file an amendment to your Form ADV to update your response when the report is available.

Prime Broker
Yes No
24. (a) Does the private fund use one or more prime brokers?

No Information Filed

Custodian
Yes No
25. (a) Does the private fund use any custodians (including the prime brokers listed above) to hold some or all of its assets?

Additional Custodian Information : 1 Record(s) Filed.

(b) Legal name of custodian:
AXIS BANK LIMITED

(f) If the custodian is a broker-dealer, provide its SEC registration number (if any):
-
CRD Number (if any):

(g) If the custodian is not a broker-dealer, or is a broker-dealer but does not have an SEC registration number, provide its legal entity identifier (if any)
549300HVNWMJPOFVNI41

Administrator
Yes No
26. (a) Does the private fund use an administrator other than your firm?

Additional Administrator Information : 1 Record(s) Filed.

(b) Name of administrator:
AXIS BANK LIMITED

(c) Location of administrator (city, state and country):
City: State: Country:
MUMBAI India
Yes No
(d) Is the administrator a related person of your firm?

Marketers
Yes No
28. (a) Does the private fund use the services of someone other than you or your employees for marketing purposes?

Additional Marketer Information : 1 Record(s) Filed.

You must answer "yes" whether the person acts as a placement agent, consultant, finder, introducer, municipal advisor or other solicitor, or similar person. If
the answer to question 28.(a) is "yes," respond to questions (b) through (g) below for each such marketer the private fund uses. If the private fund uses more
than one marketer, you must complete questions (b) through (g) separately for each marketer.

Yes No
(b) Is the marketer a related person of your firm?

(d) If the marketer is registered with the SEC, its file number (e.g., 801-, 8-, or 866-):
8 - 51740
and CRD Number (if any):
47251

(g) If the answer to question 28.(f) is "yes," list the website address(es):
No Information Filed

A. PRIVATE FUND

Information About the Private Fund

1. (a) Name of the private fund:
KOTAK ICONIC INDIA EQUITY FEEDER FUND
(b) Private fund identification number:
(include the "805-" prefix also)
805-8451765663

2. Under the laws of what state or country is the private fund organized:
State: Country:
India

5. List the name and country, in English, of each foreign financial regulatory authority with which the private fund is registered.
Name of Country/English Name of Foreign Financial Regulatory Authority
Other - GIFT CITY - INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY
Singapore - Monetary Authority of Singapore

Yes No
6. (a) Is this a "master fund" in a master-feeder arrangement?

(b) If yes, what is the name and private fund identification number (if any) of the feeder funds investing in this private fund?
No Information Filed

Yes No
(c) Is this a "feeder fund" in a master-feeder arrangement?

(d) If yes, what is the name and private fund identification number (if any) of the master fund in which this private fund invests?
Name of private fund:
KOTAK ICONIC FUND
Private fund identification number:
(include the "805-" prefix also)
805-1535733392

No Information Filed

10. What type of fund is the private fund?

hedge fund liquidity fund private equity fund real estate fund securitized asset fund venture capital fund Other private fund: MULTI-ASSET FUND
INVESTING IN INDIAN DOMICILED PRIVATE FUND

NOTE: For definitions of these fund types, please see Instruction 6 of the Instructions to Part 1A.

11. Current gross asset value of the private fund:
$ 10,800,000

Ownership

12. Minimum investment commitment required of an investor in the private fund:
$ 150,000
NOTE: Report the amount routinely required of investors who are not your related persons (even if different from the amount set forth in the organizational documents of
the fund).
13. Approximate number of the private fund's beneficial owners:
41

14. What is the approximate percentage of the private fund beneficially owned by you and your related persons:
0%

16. What is the approximate percentage of the private fund beneficially owned by non-United States persons:
92%

Your Advisory Services
Yes No
17. (a) Are you a subadviser to this private fund?

Yes No
18. (a) Do any investment advisers (other than the investment advisers listed in Section 7.B.(1).A.3.(b)) advise the private fund?

Yes No
19. Are your clients solicited to invest in the private fund?

NOTE: For purposes of this question, do not consider feeder funds of the private fund.

20. Approximately what percentage of your clients has invested in the private fund?
0%

Private Offering
Yes No
21. Has the private fund ever relied on an exemption from registration of its securities under Regulation D of the Securities Act of 1933?

22. If yes, provide the private fund's Form D file number (if any):
Form D file number
021-526940

B. SERVICE PROVIDERS

Auditors
Yes No
23. (a) (1) Are the private fund's financial statements subject to an annual audit?

(2) If the answer to question 23.(a)(1) is "yes," are the financial statements prepared in accordance with U.S. GAAP?

Additional Auditor Information : 1 Record(s) Filed.

If the answer to question 23.(a)(1) is "yes," respond to questions (b) through (h) below. If the private fund uses more than one auditing firm, you must
complete questions (b) through (f) separately for each auditing firm.

(b) Name of the auditing firm:
MM CHITALE AND CO

(e) Is the auditing firm registered with the Public Company Accounting Oversight Board?

If yes, Public Company Accounting Oversight Board-Assigned Number:

(f) If "yes" to (e) above, is the auditing firm subject to regular inspection by the Public Company Accounting Oversight Board in accordance with its
rules?

Yes No
(g) Are the private fund's audited financial statements for the most recently completed fiscal year distributed to the private fund's investors?

(h) Do all of the reports prepared by the auditing firm for the private fund since your last annual updating amendment contain unqualified opinions?

Yes No Report Not Yet Received

If you check "Report Not Yet Received," you must promptly file an amendment to your Form ADV to update your response when the report is available.

Prime Broker
Yes No
24. (a) Does the private fund use one or more prime brokers?

No Information Filed

Custodian
Yes No
25. (a) Does the private fund use any custodians (including the prime brokers listed above) to hold some or all of its assets?

Additional Custodian Information : 1 Record(s) Filed.

(b) Legal name of custodian:
KOTAK MAHINDRA BANK LIMITED

(f) If the custodian is a broker-dealer, provide its SEC registration number (if any):
-
CRD Number (if any):

(g) If the custodian is not a broker-dealer, or is a broker-dealer but does not have an SEC registration number, provide its legal entity identifier (if any)
335800E6GTTXKHXE2I75
Administrator
Yes No
26. (a) Does the private fund use an administrator other than your firm?

Additional Administrator Information : 1 Record(s) Filed.

(b) Name of administrator:
OHM DOVETAIL GLOBAL SERVICES (IFSC) PRIVATE LIMITED

(c) Location of administrator (city, state and country):
City: State: Country:
GIFT CITY India
Yes No
(d) Is the administrator a related person of your firm?

Marketers
Yes No
28. (a) Does the private fund use the services of someone other than you or your employees for marketing purposes?

Additional Marketer Information : 1 Record(s) Filed.

You must answer "yes" whether the person acts as a placement agent, consultant, finder, introducer, municipal advisor or other solicitor, or similar person. If
the answer to question 28.(a) is "yes," respond to questions (b) through (g) below for each such marketer the private fund uses. If the private fund uses more
than one marketer, you must complete questions (b) through (g) separately for each marketer.

Yes No
(b) Is the marketer a related person of your firm?

(d) If the marketer is registered with the SEC, its file number (e.g., 801-, 8-, or 866-):
8 - 51740
and CRD Number (if any):
47251

A. PRIVATE FUND

Information About the Private Fund

1. (a) Name of the private fund:
KOTAK OPTIMUS INDIA ALLOCATION AGGRESSIVE SCHEME
(b) Private fund identification number:
(include the "805-" prefix also)
805-7067590727

2. Under the laws of what state or country is the private fund organized:
State: Country:
India

(b) If filing an umbrella registration, identify the filing adviser and/or relying adviser(s) that sponsor(s) or manage(s) this private fund.
No Information Filed

Yes No
6. (a) Is this a "master fund" in a master-feeder arrangement?

(b) If yes, what is the name and private fund identification number (if any) of the feeder funds investing in this private fund?
No Information Filed

Yes No
(c) Is this a "feeder fund" in a master-feeder arrangement?

(d) If yes, what is the name and private fund identification number (if any) of the master fund in which this private fund invests?
Name of private fund:

Private fund identification number:
(include the "805-" prefix also)

No Information Filed
NOTE: For purposes of questions 6 and 7, in a master-feeder arrangement, one or more funds ("feeder funds") invest all or substantially all of their assets in a single
fund ("master fund"). A fund would also be a "feeder fund" investing in a "master fund" for purposes of this question if it issued multiple classes (or series) of shares or
interests, and each class (or series) invests substantially all of its assets in a single master fund.
Yes No
8. (a) Is this private fund a "fund of funds"?

10. What type of fund is the private fund?

hedge fund liquidity fund private equity fund real estate fund securitized asset fund venture capital fund Other private fund: MULTI-ASSET FUND
INVESTING IN LISTED INDIAN EQUITY AND DEBT SECURITIES

NOTE: For definitions of these fund types, please see Instruction 6 of the Instructions to Part 1A.

11. Current gross asset value of the private fund:
$ 4,170,490

Ownership

13. Approximate number of the private fund's beneficial owners:
99

14. What is the approximate percentage of the private fund beneficially owned by you and your related persons:
5%

16. What is the approximate percentage of the private fund beneficially owned by non-United States persons:
59%

Your Advisory Services
Yes No
17. (a) Are you a subadviser to this private fund?

Yes No
18. (a) Do any investment advisers (other than the investment advisers listed in Section 7.B.(1).A.3.(b)) advise the private fund?

Yes No
19. Are your clients solicited to invest in the private fund?

NOTE: For purposes of this question, do not consider feeder funds of the private fund.
20. Approximately what percentage of your clients has invested in the private fund?
0%

Private Offering
Yes No
21. Has the private fund ever relied on an exemption from registration of its securities under Regulation D of the Securities Act of 1933?

22. If yes, provide the private fund's Form D file number (if any):
Form D file number
021-475173

B. SERVICE PROVIDERS

Auditors
Yes No
23. (a) (1) Are the private fund's financial statements subject to an annual audit?

(2) If the answer to question 23.(a)(1) is "yes," are the financial statements prepared in accordance with U.S. GAAP?

Additional Auditor Information : 1 Record(s) Filed.

If the answer to question 23.(a)(1) is "yes," respond to questions (b) through (h) below. If the private fund uses more than one auditing firm, you must
complete questions (b) through (f) separately for each auditing firm.

(b) Name of the auditing firm:
MM CHITALE AND CO

(e) Is the auditing firm registered with the Public Company Accounting Oversight Board?

If yes, Public Company Accounting Oversight Board-Assigned Number:

(f) If "yes" to (e) above, is the auditing firm subject to regular inspection by the Public Company Accounting Oversight Board in accordance with its
rules?

Yes No
(g) Are the private fund's audited financial statements for the most recently completed fiscal year distributed to the private fund's investors?

(h) Do all of the reports prepared by the auditing firm for the private fund since your last annual updating amendment contain unqualified opinions?

Yes No Report Not Yet Received

If you check "Report Not Yet Received," you must promptly file an amendment to your Form ADV to update your response when the report is available.

Prime Broker
Yes No
24. (a) Does the private fund use one or more prime brokers?

No Information Filed

Custodian
Yes No
25. (a) Does the private fund use any custodians (including the prime brokers listed above) to hold some or all of its assets?

Additional Custodian Information : 1 Record(s) Filed.

(b) Legal name of custodian:
AXIS BANK LIMITED

(f) If the custodian is a broker-dealer, provide its SEC registration number (if any):
-
CRD Number (if any):

(g) If the custodian is not a broker-dealer, or is a broker-dealer but does not have an SEC registration number, provide its legal entity identifier (if any)
549300HVNWMJPOFVNI41

Administrator
Yes No
26. (a) Does the private fund use an administrator other than your firm?

Additional Administrator Information : 1 Record(s) Filed.

(b) Name of administrator:
AXIS BANK LIMITED

(c) Location of administrator (city, state and country):
City: State: Country:
MUMBAI India
Yes No
(d) Is the administrator a related person of your firm?

Marketers
Yes No
28. (a) Does the private fund use the services of someone other than you or your employees for marketing purposes?

Additional Marketer Information : 1 Record(s) Filed.

You must answer "yes" whether the person acts as a placement agent, consultant, finder, introducer, municipal advisor or other solicitor, or similar person. If
the answer to question 28.(a) is "yes," respond to questions (b) through (g) below for each such marketer the private fund uses. If the private fund uses more
than one marketer, you must complete questions (b) through (g) separately for each marketer.

Yes No
(b) Is the marketer a related person of your firm?

(d) If the marketer is registered with the SEC, its file number (e.g., 801-, 8-, or 866-):
8 - 51740
and CRD Number (if any):
47251

(g) If the answer to question 28.(f) is "yes," list the website address(es):
No Information Filed

A. PRIVATE FUND

Information About the Private Fund

1. (a) Name of the private fund:
KOTAK OPTIMUS INDIA ALLOCATION MODERATE SCHEME
(b) Private fund identification number:
(include the "805-" prefix also)
805-5814906620

2. Under the laws of what state or country is the private fund organized:
State: Country:
India

(b) If filing an umbrella registration, identify the filing adviser and/or relying adviser(s) that sponsor(s) or manage(s) this private fund.
No Information Filed

Yes No
6. (a) Is this a "master fund" in a master-feeder arrangement?

(b) If yes, what is the name and private fund identification number (if any) of the feeder funds investing in this private fund?
No Information Filed

Yes No
(c) Is this a "feeder fund" in a master-feeder arrangement?

(d) If yes, what is the name and private fund identification number (if any) of the master fund in which this private fund invests?
Name of private fund:

Private fund identification number:
(include the "805-" prefix also)

No Information Filed

10. What type of fund is the private fund?

hedge fund liquidity fund private equity fund real estate fund securitized asset fund venture capital fund Other private fund: MULTI-ASSET FUND
INVESTING IN LISTED INDIAN EQUITY AND DEBT SECURITIES

NOTE: For definitions of these fund types, please see Instruction 6 of the Instructions to Part 1A.

11. Current gross asset value of the private fund:
$ 7,562,488

Ownership

14. What is the approximate percentage of the private fund beneficially owned by you and your related persons:
5%

16. What is the approximate percentage of the private fund beneficially owned by non-United States persons:
63%

Your Advisory Services
Yes No
17. (a) Are you a subadviser to this private fund?

Yes No
18. (a) Do any investment advisers (other than the investment advisers listed in Section 7.B.(1).A.3.(b)) advise the private fund?

Yes No
19. Are your clients solicited to invest in the private fund?

NOTE: For purposes of this question, do not consider feeder funds of the private fund.

20. Approximately what percentage of your clients has invested in the private fund?
0%

Private Offering
Yes No
21. Has the private fund ever relied on an exemption from registration of its securities under Regulation D of the Securities Act of 1933?

22. If yes, provide the private fund's Form D file number (if any):
Form D file number
021-475171

B. SERVICE PROVIDERS

Auditors
Yes No
23. (a) (1) Are the private fund's financial statements subject to an annual audit?

(2) If the answer to question 23.(a)(1) is "yes," are the financial statements prepared in accordance with U.S. GAAP?

Additional Auditor Information : 1 Record(s) Filed.

If the answer to question 23.(a)(1) is "yes," respond to questions (b) through (h) below. If the private fund uses more than one auditing firm, you must
complete questions (b) through (f) separately for each auditing firm.

(b) Name of the auditing firm:
MM CHITALE AND CO

(e) Is the auditing firm registered with the Public Company Accounting Oversight Board?

If yes, Public Company Accounting Oversight Board-Assigned Number:

(f) If "yes" to (e) above, is the auditing firm subject to regular inspection by the Public Company Accounting Oversight Board in accordance with its
rules?

Yes No
(g) Are the private fund's audited financial statements for the most recently completed fiscal year distributed to the private fund's investors?

(h) Do all of the reports prepared by the auditing firm for the private fund since your last annual updating amendment contain unqualified opinions?

Yes No Report Not Yet Received

If you check "Report Not Yet Received," you must promptly file an amendment to your Form ADV to update your response when the report is available.

Prime Broker
Yes No
24. (a) Does the private fund use one or more prime brokers?

No Information Filed

Custodian
Yes No
25. (a) Does the private fund use any custodians (including the prime brokers listed above) to hold some or all of its assets?

Additional Custodian Information : 1 Record(s) Filed.

(b) Legal name of custodian:
AXIS BANK LIMITED

(f) If the custodian is a broker-dealer, provide its SEC registration number (if any):
-
CRD Number (if any):

Additional Administrator Information : 1 Record(s) Filed.

(b) Name of administrator:
AXIS BANK LIMITED

(c) Location of administrator (city, state and country):
City: State: Country:
MUMBAI India
Yes No
(d) Is the administrator a related person of your firm?

Marketers
Yes No
28. (a) Does the private fund use the services of someone other than you or your employees for marketing purposes?

Additional Marketer Information : 1 Record(s) Filed.

You must answer "yes" whether the person acts as a placement agent, consultant, finder, introducer, municipal advisor or other solicitor, or similar person. If
the answer to question 28.(a) is "yes," respond to questions (b) through (g) below for each such marketer the private fund uses. If the private fund uses more
than one marketer, you must complete questions (b) through (g) separately for each marketer.

Yes No
(b) Is the marketer a related person of your firm?

(d) If the marketer is registered with the SEC, its file number (e.g., 801-, 8-, or 866-):
8 - 51740
and CRD Number (if any):
47251

(g) If the answer to question 28.(f) is "yes," list the website address(es):
No Information Filed

Funds per Page: 15 Total Funds: 5

SECTION 7.B.(2) Private Fund Reporting

No Information Filed

Item 8 Participation or Interest in Client Transactions

In this Item, we request information about your participation and interest in your clients' transactions. This information identifies additional areas in which conflicts of interest may
occur between you and your clients. Newly-formed advisers should base responses to these questions on the types of participation and interest that you expect to engage in
during the next year.

Like Item 7, Item 8 requires you to provide information about you and your related persons, including foreign affiliates.

Proprietary Interest in Client Transactions
A. Do you or any related person: Yes No
(1) buy securities for yourself from advisory clients, or sell securities you own to advisory clients (principal transactions)?

(2) buy or sell for yourself securities (other than shares of mutual funds) that you also recommend to advisory clients?

(3) recommend securities (or other investment products) to advisory clients in which you or any related person has some other proprietary (ownership) interest
(other than those mentioned in Items 8.A.(1) or (2))?

Sales Interest in Client Transactions
B. Do you or any related person: Yes No
(1) as a broker-dealer or registered representative of a broker-dealer, execute securities trades for brokerage customers in which advisory client securities are
sold to or bought from the brokerage customer (agency cross transactions)?
(2) recommend to advisory clients, or act as a purchaser representative for advisory clients with respect to, the purchase of securities for which you or any related
person serves as underwriter or general or managing partner?
(3) recommend purchase or sale of securities to advisory clients for which you or any related person has any other sales interest (other than the receipt of sales
commissions as a broker or registered representative of a broker-dealer)?

Investment or Brokerage Discretion
C. Do you or any related person have discretionary authority to determine the: Yes No
(1) securities to be bought or sold for a client's account?

(2) amount of securities to be bought or sold for a client's account?

(3) broker or dealer to be used for a purchase or sale of securities for a client's account?

(4) commission rates to be paid to a broker or dealer for a client's securities transactions?

D. If you answer "yes" to C.(3) above, are any of the brokers or dealers related persons?

E. Do you or any related person recommend brokers or dealers to clients?

F. If you answer "yes" to E. above, are any of the brokers or dealers related persons?

G. (1) Do you or any related person receive research or other products or services other than execution from a broker-dealer or a third party ("soft dollar benefits") in
connection with client securities transactions?
(2) If "yes" to G.(1) above, are all the "soft dollar benefits" you or any related persons receive eligible "research or brokerage services" under section 28(e) of the
Securities Exchange Act of 1934?

H. (1) Do you or any related person, directly or indirectly, compensate any person that is not an employee for client referrals?

(2) Do you or any related person, directly or indirectly, provide any employee compensation that is specifically related to obtaining clients for the firm (cash or non-
cash compensation in addition to the employee's regular salary)?

I. Do you or any related person, including any employee, directly or indirectly, receive compensation from any person (other than you or any related person) for client
referrals?
In your response to Item 8.I., do not include the regular salary you pay to an employee.

In responding to Items 8.H. and 8.I., consider all cash and non-cash compensation that you or a related person gave to (in answering Item 8.H.) or received from (in answering Item
8.I.) any person in exchange for client referrals, including any bonus that is based, at least in part, on the number or amount of client referrals.
Item 9 Custody

In this Item, we ask you whether you or a related person has custody of client (other than clients that are investment companies registered under the Investment Company Act of
1940) assets and about your custodial practices.

A. (1) Do you have custody of any advisory clients': Yes No
(a) cash or bank accounts?

(b) securities?

If you are registering or registered with the SEC, answer "No" to Item 9.A.(1)(a) and (b) if you have custody solely because (i) you deduct your advisory fees directly from your
clients' accounts, or (ii) a related person has custody of client assets in connection with advisory services you provide to clients, but you have overcome the presumption that you
are not operationally independent (pursuant to Advisers Act rule 206(4)-2(d)(5)) from the related person.

(2) If you checked "yes" to Item 9.A.(1)(a) or (b), what is the approximate amount of client funds and securities and total number of clients for which you have custody:

U.S. Dollar Amount Total Number of Clients
(a) $ (b)

If you are registering or registered with the SEC and you have custody solely because you deduct your advisory fees directly from your clients' accounts, do not include the amount
of those assets and the number of those clients in your response to Item 9.A.(2). If your related person has custody of client assets in connection with advisory services you provide
to clients, do not include the amount of those assets and number of those clients in your response to 9.A.(2). Instead, include that information in your response to Item 9.B.(2).

B. (1) In connection with advisory services you provide to clients, do any of your related persons have custody of any of your advisory clients': Yes No
(a) cash or bank accounts?

(b) securities?

You are required to answer this item regardless of how you answered Item 9.A.(1)(a) or (b).

(2) If you checked "yes" to Item 9.B.(1)(a) or (b), what is the approximate amount of client funds and securities and total number of clients for which your related persons
have custody:

U.S. Dollar Amount Total Number of Clients
(a) $ 14,704,228,218 (b) 1,821

C. If you or your related persons have custody of client funds or securities in connection with advisory services you provide to clients, check all the following that apply:
(1) A qualified custodian(s) sends account statements at least quarterly to the investors in the pooled investment vehicle(s) you manage.
(2) An independent public accountant audits annually the pooled investment vehicle(s) that you manage and the audited financial statements are distributed to the
investors in the pools.
(3) An independent public accountant conducts an annual surprise examination of client funds and securities.
(4) An independent public accountant prepares an internal control report with respect to custodial services when you or your related persons are qualified
custodians for client funds and securities.

If you checked Item 9.C.(2), C.(3) or C.(4), list in Section 9.C. of Schedule D the accountants that are engaged to perform the audit or examination or prepare an internal control
report. (If you checked Item 9.C.(2), you do not have to list auditor information in Section 9.C. of Schedule D if you already provided this information with respect to the private funds
you advise in Section 7.B.(1) of Schedule D).

D. Do you or your related person(s) act as qualified custodians for your clients in connection with advisory services you provide to clients? Yes No
(1) you act as a qualified custodian

(2) your related person(s) act as qualified custodian(s)

If you checked "yes" to Item 9.D.(2), all related persons that act as qualified custodians (other than any mutual fund transfer agent pursuant to rule 206(4)-2(b)(1)) must be
identified in Section 7.A. of Schedule D, regardless of whether you have determined the related person to be operationally independent under rule 206(4)-2 of the Advisers Act.

E. If you are filing your annual updating amendment and you were subject to a surprise examination by an independent public accountant during your last fiscal year, provide the
date (MM/YYYY) the examination commenced:

F. If you or your related persons have custody of client funds or securities, how many persons, including, but not limited to, you and your related persons, act as qualified
custodians for your clients in connection with advisory services you provide to clients?
2

SECTION 9.C. Independent Public Accountant
No Information Filed

Item 10 Control Persons

In this Item, we ask you to identify every person that, directly or indirectly, controls you. If you are filing an umbrella registration, the information in Item 10 should be provided for
the filing adviser only.

If you are submitting an initial application or report, you must complete Schedule A and Schedule B. Schedule A asks for information about your direct owners and executive
officers. Schedule B asks for information about your indirect owners. If this is an amendment and you are updating information you reported on either Schedule A or Schedule B
(or both) that you filed with your initial application or report, you must complete Schedule C.
Yes No
A. Does any person not named in Item 1.A. or Schedules A, B, or C, directly or indirectly, control your management or policies?

If yes, complete Section 10.A. of Schedule D.

B. If any person named in Schedules A, B, or C or in Section 10.A. of Schedule D is a public reporting company under Sections 12 or 15(d) of the Securities Exchange Act of 1934,
please complete Section 10.B. of Schedule D.

SECTION 10.A. Control Persons

No Information Filed

SECTION 10.B. Control Person Public Reporting Companies

No Information Filed

Item 11 Disclosure Information

In this Item, we ask for information about your disciplinary history and the disciplinary history of all your advisory affiliates. We use this information to determine whether to grant
your application for registration, to decide whether to revoke your registration or to place limitations on your activities as an investment adviser, and to identify potential problem
areas to focus on during our on-site examinations. One event may result in "yes" answers to more than one of the questions below. In accordance with General Instruction 5 to
Form ADV, "you" and "your" include the filing adviser and all relying advisers under an umbrella registration.

Your advisory affiliates are: (1) all of your current employees (other than employees performing only clerical, administrative, support or similar functions); (2) all of your officers,
partners, or directors (or any person performing similar functions); and (3) all persons directly or indirectly controlling you or controlled by you. If you are a "separately identifiable
department or division" (SID) of a bank, see the Glossary of Terms to determine who your advisory affiliates are.

If you are registered or registering with the SEC or if you are an exempt reporting adviser, you may limit your disclosure of any event listed in Item 11 to ten years following the date of
the event. If you are registered or registering with a state, you must respond to the questions as posed; you may, therefore, limit your disclosure to ten years following the date of an
event only in responding to Items 11.A.(1), 11.A.(2), 11.B.(1), 11.B.(2), 11.D.(4), and 11.H.(1)(a). For purposes of calculating this ten-year period, the date of an event is the date the
final order, judgment, or decree was entered, or the date any rights of appeal from preliminary orders, judgments, or decrees lapsed.

You must complete the appropriate Disclosure Reporting Page ("DRP") for "yes" answers to the questions in this Item 11.

Yes No
Do any of the events below involve you or any of your supervised persons?

For "yes" answers to the following questions, complete a Criminal Action DRP:
A. In the past ten years, have you or any advisory affiliate: Yes No
(1) been convicted of or pled guilty or nolo contendere ("no contest") in a domestic, foreign, or military court to any felony?

(2) been charged with any felony?

If you are registered or registering with the SEC, or if you are reporting as an exempt reporting adviser, you may limit your response to Item 11.A.(2) to charges that are currently
pending.

B. In the past ten years, have you or any advisory affiliate:
(1) been convicted of or pled guilty or nolo contendere ("no contest") in a domestic, foreign, or military court to a misdemeanor involving: investments or an
investment-related business, or any fraud, false statements, or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a
conspiracy to commit any of these offenses?
(2) been charged with a misdemeanor listed in Item 11.B.(1)?

If you are registered or registering with the SEC, or if you are reporting as an exempt reporting adviser, you may limit your response to Item 11.B.(2) to charges that are currently
pending.

For "yes" answers to the following questions, complete a Regulatory Action DRP:
C. Has the SEC or the Commodity Futures Trading Commission (CFTC) ever: Yes No
(1) found you or any advisory affiliate to have made a false statement or omission?

(2) found you or any advisory affiliate to have been involved in a violation of SEC or CFTC regulations or statutes?

(3) found you or any advisory affiliate to have been a cause of an investment-related business having its authorization to do business denied, suspended, revoked,
or restricted?
(4) entered an order against you or any advisory affiliate in connection with investment-related activity?

(5) imposed a civil money penalty on you or any advisory affiliate, or ordered you or any advisory affiliate to cease and desist from any activity?

D. Has any other federal regulatory agency, any state regulatory agency, or any foreign financial regulatory authority:
(1) ever found you or any advisory affiliate to have made a false statement or omission, or been dishonest, unfair, or unethical?

(2) ever found you or any advisory affiliate to have been involved in a violation of investment-related regulations or statutes?

(3) ever found you or any advisory affiliate to have been a cause of an investment-related business having its authorization to do business denied, suspended,
revoked, or restricted?
(4) in the past ten years, entered an order against you or any advisory affiliate in connection with an investment-related activity?

(5) ever denied, suspended, or revoked your or any advisory affiliate's registration or license, or otherwise prevented you or any advisory affiliate, by order, from
associating with an investment-related business or restricted your or any advisory affiliate's activity?

E. Has any self-regulatory organization or commodities exchange ever:
(1) found you or any advisory affiliate to have made a false statement or omission?

(2) found you or any advisory affiliate to have been involved in a violation of its rules (other than a violation designated as a "minor rule violation" under a plan
approved by the SEC)?
(3) found you or any advisory affiliate to have been the cause of an investment-related business having its authorization to do business denied, suspended,
revoked, or restricted?
(4) disciplined you or any advisory affiliate by expelling or suspending you or the advisory affiliate from membership, barring or suspending you or the advisory
affiliate from association with other members, or otherwise restricting your or the advisory affiliate's activities?

F. Has an authorization to act as an attorney, accountant, or federal contractor granted to you or any advisory affiliate ever been revoked or suspended?

G. Are you or any advisory affiliate now the subject of any regulatory proceeding that could result in a "yes" answer to any part of Item 11.C., 11.D., or 11.E.?

For "yes" answers to the following questions, complete a Civil Judicial Action DRP:
H. (1) Has any domestic or foreign court: Yes No
(a) in the past ten years, enjoined you or any advisory affiliate in connection with any investment-related activity?

(b) ever found that you or any advisory affiliate were involved in a violation of investment-related statutes or regulations?

(c) ever dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or any advisory affiliate by a state or foreign
financial regulatory authority?
(2) Are you or any advisory affiliate now the subject of any civil proceeding that could result in a "yes" answer to any part of Item 11.H.(1)?

Item 12 Small Businesses

The SEC is required by the Regulatory Flexibility Act to consider the effect of its regulations on small entities. In order to do this, we need to determine whether you meet the
definition of "small business" or "small organization" under rule 0-7.

Answer this Item 12 only if you are registered or registering with the SEC and you indicated in response to Item 5.F.(2)(c) that you have regulatory assets under management of
less than $25 million. You are not required to answer this Item 12 if you are filing for initial registration as a state adviser, amending a current state registration, or switching from
SEC to state registration.

For purposes of this Item 12 only:

Total Assets refers to the total assets of a firm, rather than the assets managed on behalf of clients. In determining your or another person's total assets, you may use the
total assets shown on a current balance sheet (but use total assets reported on a consolidated balance sheet with subsidiaries included, if that amount is larger).
Control means the power to direct or cause the direction of the management or policies of a person, whether through ownership of securities, by contract, or otherwise. Any
person that directly or indirectly has the right to vote 25 percent or more of the voting securities, or is entitled to 25 percent or more of the profits, of another person is
presumed to control the other person.

Yes No
A. Did you have total assets of $5 million or more on the last day of your most recent fiscal year?

If "yes," you do not need to answer Items 12.B. and 12.C.

B. Do you:
(1) control another investment adviser that had regulatory assets under management (calculated in response to Item 5.F.(2)(c) of Form ADV) of $25 million or more
on the last day of its most recent fiscal year?
(2) control another person (other than a natural person) that had total assets of $5 million or more on the last day of its most recent fiscal year?
C. Are you:
(1) controlled by or under common control with another investment adviser that had regulatory assets under management (calculated in response to Item 5.F.(2)(c)
of Form ADV) of $25 million or more on the last day of its most recent fiscal year?
(2) controlled by or under common control with another person (other than a natural person) that had total assets of $5 million or more on the last day of its most
recent fiscal year?

Schedule A
Direct Owners and Executive Officers
1. Complete Schedule A only if you are submitting an initial application or report. Schedule A asks for information about your direct owners and executive officers. Use Schedule C
to amend this information.
2. Direct Owners and Executive Officers. List below the names of:
(a) each Chief Executive Officer, Chief Financial Officer, Chief Operations Officer, Chief Legal Officer, Chief Compliance Officer(Chief Compliance Officer is required if you are
registered or applying for registration and cannot be more than one individual), director, and any other individuals with similar status or functions;
(b) if you are organized as a corporation, each shareholder that is a direct owner of 5% or more of a class of your voting securities, unless you are a public reporting company
(a company subject to Section 12 or 15(d) of the Exchange Act);
Direct owners include any person that owns, beneficially owns, has the right to vote, or has the power to sell or direct the sale of, 5% or more of a class of your voting
securities. For purposes of this Schedule, a person beneficially owns any securities: (i) owned by his/her child, stepchild, grandchild, parent, stepparent, grandparent,
spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, sharing the same residence; or (ii) that he/she has the right to
acquire, within 60 days, through the exercise of any option, warrant, or right to purchase the security.
(c) if you are organized as a partnership, all general partners and those limited and special partners that have the right to receive upon dissolution, or have contributed, 5%
or more of your capital;
(d) in the case of a trust that directly owns 5% or more of a class of your voting securities, or that has the right to receive upon dissolution, or has contributed, 5% or more of
your capital, the trust and each trustee; and
(e) if you are organized as a limited liability company ("LLC"), (i) those members that have the right to receive upon dissolution, or have contributed, 5% or more of your
capital, and (ii) if managed by elected managers, all elected managers.
3. Do you have any indirect owners to be reported on Schedule B? Yes No

4. In the DE/FE/I column below, enter "DE" if the owner is a domestic entity, "FE" if the owner is an entity incorporated or domiciled in a foreign country, or "I" if the owner or
executive officer is an individual.
5. Complete the Title or Status column by entering board/management titles; status as partner, trustee, sole proprietor, elected manager, shareholder, or member; and for
shareholders or members, the class of securities owned (if more than one is issued).
6. Ownership codes are: NA - less than 5% B - 10% but less than 25% D - 50% but less than 75%
A - 5% but less than 10% C - 25% but less than 50% E - 75% or more
7. (a) In the Control Person column, enter "Yes" if the person has control as defined in the Glossary of Terms to Form ADV, and enter "No" if the person does not have control. Note
that under this definition, most executive officers and all 25% owners, general partners, elected managers, and trustees are control persons.
(b) In the PR column, enter "PR" if the owner is a public reporting company under Sections 12 or 15(d) of the Exchange Act.
(c) Complete each column.
FULL LEGAL NAME (Individuals: Last DE/FE/I Title or Status Date Title or Status Ownership Control PR CRD No. If None: S.S. No. and Date of
Name, First Name, Middle Name) Acquired MM/YYYY Code Person Birth, IRS Tax No. or Employer ID No.
KOTAK MAHINDRA BANK LIMITED FE MEMBER 03/1994 D Y N
KOTAK MAHINDRA CAPITAL COMPANY FE MEMBER 03/1994 C Y N
LIMITED
Sriniwasan, Subramanian, NMN I MANAGING DIRECTOR 01/2017 NA Y N 7628366
Gupta, Dipak, NMN I DIRECTOR 03/2016 NA Y N 7628374
Das, Oisharya, nmn I DIRECTOR 08/2019 NA Y N 7628376
Shah, Gaurang, nmn I DIRECTOR 05/2019 NA Y N 7628379
Saptarshi, Rajeev, nmn I CHIEF OPERATING OFFICER & 08/2022 NA Y N 7628381
WHOLE-TIME DIRECTOR
Hansraj, Jaideep, NMN I DIRECTOR 03/2024 NA Y N 7945915
Mitra, Sanjay, Surajit I CHIEF COMPLIANCE OFFICER 04/2025 NA Y N 8089012
SHAH, TEJAL, APOORVA I PRINCIPAL OFFICER 04/2026 NA Y N 8300348
Karra, Eshwar I DEPUTY MANAGING DIRECTOR 06/2025 NA Y N 8306817

Schedule B
Indirect Owners
1. Complete Schedule B only if you are submitting an initial application or report. Schedule B asks for information about your indirect owners; you must first complete Schedule A,
which asks for information about your direct owners. Use Schedule C to amend this information.
2. Indirect Owners. With respect to each owner listed on Schedule A (except individual owners), list below:
(a) in the case of an owner that is a corporation, each of its shareholders that beneficially owns, has the right to vote, or has the power to sell or direct the sale of, 25% or
more of a class of a voting security of that corporation;

For purposes of this Schedule, a person beneficially owns any securities: (i) owned by his/her child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, sharing the same residence; or (ii) that he/she has the right to acquire, within
60 days, through the exercise of any option, warrant, or right to purchase the security.
(b) in the case of an owner that is a partnership, all general partners and those limited and special partners that have the right to receive upon dissolution, or have
contributed, 25% or more of the partnership's capital;
(c) in the case of an owner that is a trust, the trust and each trustee; and
(d) in the case of an owner that is a limited liability company ("LLC"), (i) those members that have the right to receive upon dissolution, or have contributed, 25% or more of
the LLC's capital, and (ii) if managed by elected managers, all elected managers.
3. Continue up the chain of ownership listing all 25% owners at each level. Once a public reporting company (a company subject to Sections 12 or 15(d) of the Exchange Act) is
reached, no further ownership information need be given.
4. In the DE/FE/I column below, enter "DE" if the owner is a domestic entity, "FE" if the owner is an entity incorporated or domiciled in a foreign country, or "I" if the owner is an
individual.
5. Complete the Status column by entering the owner's status as partner, trustee, elected manager, shareholder, or member; and for shareholders or members, the class of
securities owned (if more than one is issued).
6. Ownership codes are: C - 25% but less than 50% E - 75% or more
D - 50% but less than 75% F - Other (general partner, trustee, or elected manager)
7. (a) In the Control Person column, enter "Yes" if the person has control as defined in the Glossary of Terms to Form ADV, and enter "No" if the person does not have control.
Note that under this definition, most executive officers and all 25% owners, general partners, elected managers, and trustees are control persons.
(b) In the PR column, enter "PR" if the owner is a public reporting company under Sections 12 or 15(d) of the Exchange Act.
(c) Complete each column.
FULL LEGAL NAME (Individuals: Last DE/FE/I Entity in Which Interest Status Date Status Ownership Control PR CRD No. If None: S.S. No. and Date of
Name, First Name, Middle Name) is Owned Acquired Code Person Birth, IRS Tax No. or Employer ID No.
MM/YYYY
KOTAK MAHINDRA BANK FE KOTAK MAHINDRA MEMBER 07/1995 E Y N
CAPITAL COMPANY
LIMITED
KOTAK, UDAY, SURESH I KOTAK MAHINDRA BANK SHAREHOLDER 11/1985 C Y N 5520816
LIMITED

Schedule D - Miscellaneous
You may use the space below to explain a response to an Item or to provide any other information.
1. Number of employees reported in Item 5 is as of March 31, 2026. 2. USD INR EXCHANGE RATE considered as 94.65 as of March 31, 2026 for all numbers reported in the ADV. 3.
AUM details shared in respect of Item 1.O, Item 5.D, Item 5.F(2), Item 5.F(3), Section 5.K(1), Item 9.B(2) have been taken considering the consolidated India and US advisory
business. AUM for US advisory business is USD 46.45 million as at March 31, 2026 with 7 advisory clients. 4. Please note that we share the same building with some of the
related persons. We sit on different floors and have separate access controls for our floors. 5. Please note that we do not hold custody of assets for our advisory clients. We only
provide non-discretionary advice to the clients. The custody and bank accounts are managed by the clients themselves. 6. Disciplinary action mentioned for the Registrant does
not pertain to Advisory business and does not impact the US advisory clients in any way. 7. Penalty amounts have been converted into USD considering INR-USD rate as 94.65

Schedule R

No Information Filed

DRP Pages

CRIMINAL DISCLOSURE REPORTING PAGE (ADV)

No Information Filed

REGULATORY ACTION DISCLOSURE REPORTING PAGE (ADV)

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an INITIAL AMENDED response used to report details for affirmative responses to Items 11.C., 11.D., 11.E., 11.F. or 11.G.
OR
of Form ADV.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the same event. If an event
gives rise to actions by more than one regulator, provide details for each action on a separate DRP.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name).
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANK LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is registered or applying for
registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the adviser's or advisory affiliate's favor.

If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item 11.D(4), and only if that
event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any event listed in Item 11 that occurred more than
ten years ago.

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

B. If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to the IARD or CRD for
the event? If the answer is "Yes," no other information on this DRP must be provided.

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

06/07/2013 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
Debt - Government
Other Product Types:
SAVINGS ACCOUNTS, SALE OF GOLD AND REMITTANCES

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
RESERVE BANK OF INDIA ALLEGED THAT KOTAK MAHINDRA BANK LIMITED, (I) DID NOT CATEGORISE GOLD / BULLION DEALERS, JEWELLERS AND TRUST RELATIONSHIPS AS
HIGH RISK ACCOUNTS FROM THE ANTI-MONEY LAUNDERING PERSPECTIVE, (II) SOLD GOLD TO 5 CUSTOMERS IN CASH TRANSACTIONS EXCEEDING THE PRESCRIBED LIMIT
OF INR 50,000, AND (III) FAILED TO OBTAIN THE TAX IDENTIFICATION NUMBER FROM THREE CUSTOMERS.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

07/22/2013 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 252,660.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
RBI CARRIED OUT A REVIEW OF INTERNAL CONTROL, COMPLIANCE SYSTEMS AND PROCESSES OF 39 BANKS IN INDIA IN APRIL2013 IN RELATION TO AML/KYC
REQUIREMENTS. WITH RESPECT TO KOTAK MAHINDRA BANK LIMITED (KMBL), RBI HELD THAT THE RISK SCORING MODEL WAS NOT IN ACCORDANCE WITH REGULATORY
REQUIREMENTS. RBI ALSO FOUND IN 5 CASES (OUT OFABOUT 13000 TRANSACTIONS), KMBL HAD SOLD GOLD TO CUSTOMERS IN CASH TRANSACTIONS EXCEEDING THE
PRESCRIBED LIMIT OF INR 50,000. RBI ALSO NOTED KMBL HAD NOT OBTAINED THE TAX IDENTIFICATION NUMBER WITH RESPECT TO 3 TRANSACTIONS (OUT OF 738
TRANSACTIONS) UNDER A PRESCRIBED REMITTANCE SCHEME. A FINE OF INR15.01 MILLION WAS LEVIED ON KMBL WHICH WAS PAID ON 22 JULY 2013. KMBL, BEING A
LISTED COMPANY ON THE EXCHANGES OF INDIA, DISCLOSED THIS MATTER IN ITS ANNUAL REPORT FOR 2013-14.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANKLIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

02/19/2018 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
Insurance
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (IRDA) OF INDIA HAD NOTED THAT EXIDE LIFE INSURANCE COMPANY HAD PAID INFRASTRUCTURE FACILITY
CHARGES TO THE ING VYSYA BANK (WHICH MERGED WITH KOTAK MAHINDRABANK LIMITED ON APRIL, 1 2015) DURING 2013-14 AND IRDA FOUND THAT IT IS IN VIOLATION
OF CLAUSE 21 OF THE GUIDELINES ON LICENSING OF CORPORATE AGENTS (DATED 14.7.2015) AND SECTION 40 OF INSURANCE ACT 1938 AS THE AMOUNT PAID HAD
EXCEEDED THE LIMIT OF EXPENDITURE ON COMMISSION STIPULATED UNDER SEC 40 A OF THE INSURANCE ACT.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

03/05/2018 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 1,549.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
IRDA HAD NOTED THAT EXIDE LIFE INSURANCE COMPANY HAD PAID INFRASTRUCTURE FACILITY CHARGES TO THE ING VYSYABANK (WHICH MERGED WITH KOTAK MAHINDRA
BANK LIMITED ON 1 APRIL 2015) DURING 2013-14 AND IRDA FOUND THAT IT IS IN VIOLATION OF CLAUSE 21 OF THE GUIDELINES ON LICENSING OF CORPORATE AGENTS
(DATED 14.7.2015) AND SECTION 40 OF INSURANCE ACT 1938 AS THE AMOUNT PAID HAD EXCEEDED THE LIMIT OF EXPENDITURE ON COMMISSION STIPULATED UNDER SEC
40A OF THE INSURANCE ACT. KOTAK MAHINDRA BANK LIMITED HAD REPRESENTED THAT THE BANK HAD NEVER VIOLATEDTHE PROVISIONS OF ACT NOR ANY ADVERSE
REMARKS WERE IDENTIFIED BY IRDA DURING THE INSPECTION OF THE AGENCY OFTHE BANK AND SINCE THIS CASE PERTAINED TO PAYMENTS MADE PRIOR TO THE MERGER
OF ING VYSYA BANK WITH KOTAK MAHINDRA BANK LIMITED, THE BANK MAY NOT BE PENALISED. HOWEVER IRDA MAINTAINED THAT IT IS A VIOLATION OF THE ACT AND
HENCE NEED TO BE DEALT ACCORDINGLY AND LEVIED A FINE OF INR 0.1 MILLION.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANKLIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:
B. If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to the IARD or CRD for
the event? If the answer is "Yes," no other information on this DRP must be provided.

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

02/04/2019 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
Other
Other Product Types:
KYC

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE RESERVE BANK OF INDIA (RBI) HAD IMPOSED A PENALTY OF INR 20 LAKH (INR 2 MILLION) ON KOTAK MAHINDRA BANK LIMITED IN FEBRUARY 2019 FOR KNOW YOUR
CUSTOMER (KYC) DEFICIENCIES FOUND IN OPENING ONE SAVINGS ACCOUNT OPENED IN THE YEAR 2010.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

02/14/2019 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 27,898.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal, Financial Operations
Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to requalify/retrain, type of exam required and
whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution, disgorgement or monetary compensation, provide total amount, portion
levied against you or an advisory affiliate, date paid and if any portion of penalty was waived:
A FINE OF INR 2 MILLION EQUIVALENT TO USD 27898 WAS LEVIED BY THE RESERVE BANK OF INDIA WHICH WAS PAID INFULL. (USD/INR RATE USED 71.69 AS AT 4TH
FEBRUARY 2019)
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
THE RBI HAD IMPOSED A PENALTY OF INR20 LAKH ( INR 2 MILLION) ON KOTAK MAHINDRA BANK LTD IN FEBRUARY 2019 FOR KYC DEFICIENCIES FOUND IN OPENING ONE
SAVINGS ACCOUNT OPENED IN THE YEAR 2010. THIS WAS A CASE OF FAILURE OF THE PERSONNEL IN MEETING THE CUSTOMER BEFORE OPENING THE ACCOUNT. AS PER
THE BANK'S PROCESSES IT IS MANDATORY TO MEET THE CUSTOMER BEFORE ON-BOARDING THE CUSTOMER. IN THE CITED CASE, BRANCH PERSONNEL HAD VISITED THE
HOUSE OF THE CUSTOMER BUT DID NOT MEET THE CUSTOMER AND HAD CERTIFIED THAT THEY MET THE CUSTOMER. ACTION HAS ALREADY BEEN TAKEN ON THE ERRANT
EMPLOYEE AND THE PROCESS HAS BEEN REITERATED FOR STRICTER COMPLIANCE.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD
This advisory affiliate is a Firm an Individual
Number:
Registered:
Yes No
Name: KOTAK MAHINDRA TRUSTEE COMPANY
LIMITED
(For individuals, Last, First, Middle)

CRD
This advisory affiliate is a Firm an Individual
Number:
Registered:
Yes No
Name: KOTAK MAHINDRA ASSET
MANAGEMENT COMPANY LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
SECURITIES AND EXCHANGE BOARD OF INDIA ("SEBI")

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

05/10/2019 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED ("KMAMC") AND KOTAK MAHINDRA TRUSTEE COMPANY LIMITED

6. Principal Product Type:
Other
Other Product Types:
MUTUAL FUNDS

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
SEBI ISSUED SCN UNDER SECTION 11(1), 11B AND 11B (2) OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH PROVISIONS OF SEBI (MUTUAL FUND)
REGULATIONS, 1996 ALLEGING THAT ON MATURITY DATE OF KOTAK FMP SERIES 127 AND 183, CLOSE ENDED DEBT SCHEMES, INVESTORS WERE NOT PAID FULL PROCEEDS
ON THE DECLARED NET ASSET VALUE(NAV) DUE TO PENDING RECOVERY OF DUES FROM THE PORTFOLIO COMPANY I.E. ESSEL GROUP OF COMPANIES. KMAMC VIDE
ITSLETTER DATED AUGUST 29, 2019, HAD FILED ITS REPLY TO THE AFORESAID SCNS. SUBSEQUENTLY, SEBI SERVED A SCN VIDE ITSLETTER NO.
SEBI/HO/IMD/DF2/OW/P/2020/13217/1 DATED AUGUST 13, 2020 IN THE MATTER OF KOTAK FMP SERIES 187, 189,193 AND 194, ISSUED UNDER SECTION 11(1), 11B AND
11B(2) OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READRULE 4 (1) OF THE SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES,
1995 FOR INQUIRY ANDIMPOSING PENALTY UNDER SECTIONS 15D (B) AND 15 HB OF THE ACT READ WITH PROVISIONS OF THE SEBI (MUTUAL FUNDS)REGULATIONS, 1996,
SEBI VIDE ITS ORDER NO. WTM/SM/IMD/IMD-I DOF2/13158/2021-22 DATED AUGUST 27, 2021 HAS ISSUED CERTAIN DIRECTIONS AND IMPOSED PENALTY ON KMAMC.
FURTHER, IT WAS DIRECTED THAT: A.KMAMC SHALL REFUND A PART OF THE INVESTMENT MANAGEMENT AND ADVISORY FEES COLLECTED FROM THE UNIT HOLDERS OF THE
AFORESAID SIX FMP SCHEMES, EQUIVALENT TO THE PERCENTAGE OF EXPOSURE TO THE ZCNCDS OF THE ISSUERS IN THE RESPECTIVE SCHEMES AS ON THE DATE OF
MATURITY OF THE SIX FMP SCHEMES, ALONG WITH A SIMPLE INTEREST AT THE RATE OF 15% PER ANNUM FROM THE DATE OF MATURITY OF SUCH SCHEMES TILL THE DATE
OF ACTUAL PAYMENT TO THE RESPECTIVE UNIT HOLDERS OF THE SAID SCHEMES. B.SEBI HAS IMPOSED A MONETARY PENALTIES OF INR 50,00,000 (RUPEES FIFTY LAKHS
ONLY/-) ON KMAMC UNDER THE PROVISIONS OF SECTIONS 15D(B) AND 15 HB FOR THE VIOLATIONS OF THE PROVISIONS OF SEBI ACT, 1992, MF REGULATIONS,1996 AS
WELL AS VARIOUS CIRCULARS. C.KMAMC HAS BEEN ALSO RESTRAINED FROM LAUNCHING ANY NEW FMP SCHEME FOR APERIOD OF SIX MONTHS FROM THE DATE OF SEBI
ORDER. THE BOARD OF KMAMC HAD FILED AN APPEAL BEFORE THE SECURITIES APPELLATE TRIBUNAL AGAINST THE SEBI ORDER DATED AUGUST 27, 2021. THE SAT HEARING
WAS HELD ON OCTOBER 21, 2021AND HAS GRANTED THE FOLLOWING INTERIM RELIEF ON THE SEBI ORDER DATED AUGUST 27, 2021 PASSED ON KMAMC. D. STAYON
DIRECTION ISSUED TO REFUND A PART OF THE INVESTMENT MANAGEMENT AND ADVISORY FEES COLLECTED BY THE APPELLANT FROM THE UNIT HOLDERS. UNDERTAKING TO
BE SUBMITTED TO SEBI THAT IN CASE OF AN ADVERSE ORDER AT SAT,THE REFUND OF ABOVE MENTIONED FEES SHALL BE MADE BY KOTAK AMC WITHIN 2 MONTHS FROM
THE DATE OF SAT ORDER . B.DEPOSIT 20 LACS WITH SEBI, IN AN INTEREST BEARING ACCOUNT TILL OUTCOME OF FINAL SAT ORDER. C. WE INFORMED SAT THAT WE WILL
ADHERE TO THE SEBI ORDER RESTRAINING FROM LAUNCHING ANY NEW FMP SCHEME FOR A PERIOD OF SIX MONTHS FROM THE DATE OF SEBI ORDER UNDERTAKING WAS
SUBMITTED BY KMAMC TO SEBI ON NOVEMBER 17, 2021 AND DEPOSIT OF RS.20 LACS WAS MADE WITH SEBI ON NOVEMBER 16, 2021. KOTAK MAHINDRA TRUSTEE COMPANY
LIMITED (TRUSTEE COMPANY) AND FEW EMPLOYEES AND DIRECTOR OF KMAMC HAD BEEN SERVED A SHOW CAUSE NOTICE BY SEBI DATEDMAY 31, 2019 IN THE MATTER OF
FMP SERIES 127 AND 183, SHOW CAUSE NOTICE DATED OCTOBER 12, 2020 IN THE MATTER OF KOTAK FMP SERIES 187, 189, 193 AND 194 AND SUPPLEMENTARY SCN
DATED MAY 06, 2022 SECTION 11(1), 11B AND 11B(2) OFSECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ RULE 4 (1) OF THE SEBI ( PROCEDURE FOR
HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995 FOR INQUIRY AND IMPOSING PENALTY UNDER SECTIONS 15D (B) AND 15 HB OF THEACT READ WITH
PROVISIONS OF THE SEBI (MUTUAL FUND) REGULATIONS, 1996. SUBSEQUENTLY, SEBI VIDE ITS ORDER NO.ORDER/SM/AE/2022-23/17536-17542 DATED JUNE 30, 2022 HAS
IMPOSED PENALTY ON KOTAK MAHINDRA TRUSTEE COMPANY LIMITED AND FEW EMPLOYEES OF KMAMC. KOTAK MAHINDRA TRUSTEE COMPANY LIMITED AND FEW
EMPLOYEES OF KMAMC AREIN PROCESS TO FILE AN APPEAL BEFORE THE SECURITIES.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:

11. Resolution Date (MM/DD/YYYY):

Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANK LIMITED
(For individuals, Last, First, Middle)

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

07/04/2022 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
KOTAK MAHINDRA BANK

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
RBI VIDE ITS LETTER DATED JULY 4, 2022 HAS LEVIED A PENALTY OF INR 10.50 MILLION (USD 131250) FOR FAILURE TO COMPLY WITH THE FOLLOWING PROVISIONS/ACT: ?
INR 3 MILLION (USD 37500) FOR NON-COMPLIANCE WITH DIRECTIONS ON 'CUSTOMER PROTECTION - LIMITING LIABILITY OF CUSTOMERS IN UNAUTHORISED ELECTRONIC
BANKING TRANSACTIONS. ?INR 3 MILLION(USD 37500) FOR CONTRAVENTION OF THE PROVISIONS OF SUB-SECTION (2) OF SECTION 26A OF THE ACT READ WITH
PARAGRAPH 3 OF THE DEPOSITOR EDUCATION AND AWARENESS FUND SCHEME' 2014 ?INR 4.50 MILLION (USD 56250) FOR NON-COMPLIANCE WITH DIRECTIONS ON
BANKS, EXPOSURE TO CAPITAL MARKETS - RATIONALIZATION OF NORMS' AND ,LOANS AND ADVANCES -STATUTORY AND OTHER RESTRICTIONS

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Other

11. Resolution Date (MM/DD/YYYY):

07/04/2022 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 131,250.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal, Financial Operations
Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to requalify/retrain, type of exam required and
whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution, disgorgement or monetary compensation, provide total amount, portion
levied against you or an advisory affiliate, date paid and if any portion of penalty was waived:
RBI VIDE ITS LETTER DATED JULY 4, 2022 HAS LEVIED A PENALTY OF INR 10.50 MILLION (USD 131250) FOR FAILURE TO COMPLY WITH THE FOLLOWING
PROVISIONS/ACT: ?INR 3 MILLION (USD 37500) FOR NON-COMPLIANCE WITH DIRECTIONS ON 'CUSTOMER PROTECTION - LIMITING LIABILITY OF CUSTOMERS IN
UNAUTHORISED ELECTRONIC BANKINGTRANSACTIONS. ?INR 3 MILLION (USD 37500) FOR CONTRAVENTION OF THE PROVISIONS OF SUB-SECTION (2) OFSECTION 26A
OF THE ACT READ WITH PARAGRAPH 3 OF THE DEPOSITOR EDUCATION AND AWARENESS FUND SCHEME'2014 ?INR 4.50 MILLION (USD 56250) FOR NON-COMPLIANCE
WITH DIRECTIONS ON BANKS, EXPOSURE TO CAPITALMARKETS - RATIONALIZATION OF NORMS' AND ,LOANS AND ADVANCES -STATUTORY AND OTHER RESTRICTIONS

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
RBI VIDE ITS LETTER DATED JULY 4, 2022 HAS LEVIED A PENALTY OF INR 10.50 MILLION (USD 131250) FOR FAILURE TO COMPLY WITH THE FOLLOWING PROVISIONS/ACT: ?
INR 3 MILLION (USD 37500) FOR NON-COMPLIANCE WITH DIRECTIONS ON 'CUSTOMER PROTECTION - LIMITING LIABILITY OF CUSTOMERS IN UNAUTHORISED ELECTRONIC
BANKING TRANSACTIONS. ?INR 3 MILLION(USD 37500) FOR CONTRAVENTION OF THE PROVISIONS OF SUB-SECTION (2) OF SECTION 26A OF THE ACT READ WITH
PARAGRAPH 3 OF THE DEPOSITOR EDUCATION AND AWARENESS FUND SCHEME' 2014 ?INR 4.50 MILLION (USD 56250) FOR NON-COMPLIANCE WITH DIRECTIONS ON
BANKS, EXPOSURE TO CAPITAL MARKETS - RATIONALIZATION OF NORMS' AND ,LOANS AND ADVANCES -STATUTORY AND OTHER RESTRICTIONS

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANK LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA (RBI)

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

06/06/2019 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
Other
Other Product Types:
INFORMATION SUBMISSION

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE RESERVE BANK OF INDIA (RBI) HAS, BY AN ORDER DATED JUNE 06, 2019, IMPOSED A MONETARY PENALTY OF INR 2 CRORES(RS 20 MILLION) ON KOTAK MAHINDRA BANK
LIMITED (THE BANK) FOR FAILURE TO FURNISH INFORMATION ABOUT DETAILS OFTHE SHAREHOLDING HELD BY ITS PROMOTERS AND TO SUBMIT DETAILS OF THE PROPOSED
COURSE OFACTION/PLANS/STRATEGY OF THE BANK FOR COMPLYING WITH THE PERMITTED TIMELINE FOR DILUTION OF PROMOTERSHAREHOLDING.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

06/19/2019 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 289,184.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
THE RESERVE BANK OF INDIA (RBI) HAS, BY AN ORDER DATED JUNE 06, 2019, IMPOSED A MONETARY PENALTY OF RS 2 CRORES(RS 20 MILLION) ON KOTAK MAHINDRA BANK
LIMITED (THE BANK) FOR FAILURE TO FURNISH INFORMATION ABOUT DETAILS OF THE SHAREHOLDING HELD BY ITS PROMOTERS AND TO SUBMIT DETAILS OF THE PROPOSED
COURSE OFACTION/PLANS/STRATEGY OF THE BANK FOR COMPLYING WITH THE PERMITTED TIMELINE FOR DILUTION OF PROMOTER SHAREHOLDING.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANK LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

02/08/2017 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:
5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
Banking Products (Other than CD(s))
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE RESERVE BANK OF INDIA (RBI) ALLEGED THAT KOTAK MAHINDRA BANK LIMITED IN REPORTED A FOREIGN EXCHANGE TRANSACTION ON NET BASIS INSTEAD OF GROSS
BASIS, AS REQUIRED BY RBI.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

04/21/2017 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 155.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
IMPORTERS/EXPORTERS WHO WISH TO NET OFF THEIR RECEIVABLES/PAYABLES WITH THEIR OVERSEAS COUNTER PARTIES, NEEDTO OBTAIN RBI APPROVAL FOR SUCH
NETTING. RBI GRANTED APPROVAL FOR NETTING OFF TRANSACTION SUBJECT TO THE TERMSAND CONDITIONS THEREIN, WHICH INTER-ALIA INCLUDED A CONDITION THAT
KMBL SHOULD REPORT THE TRANSACTIONS ONGROSS BASIS IN RELEVANT RETURNS HOWEVER KMBL REPORTED THE TRANSACTION ON NET BASIS INSTEAD OF GROSS
BASIS. HAVING EXAMINED THE MATTER, RBI IMPOSED A PENALTY ON KMBL OF INR 10000 (ABOUT USD 155) FOR THE ERROR IN REPORTING .

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANKLIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

04/21/2016 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
Debt - Government
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE RESERVE BANK OF INDIA ALLEGED THAT IN RELATION TO A SECURITIES GENERAL LEDGER ("SGL") TRANSACTION IN BASKET REPO IN 182 DAY TREASURY BILLS CARRIED
OUT BY KOTAK MAHINDRA BANK LIMITED'S TREASURY DEPARTMENT, THERE WAS A SHORTAGE OF SECURITIES TO THE TUNE OF RS.91.42 CRORE (ABOUT US$ 15 MILLION.)

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

05/12/2016 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 8,000.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
KOTAK MAHINDRA BANK LIMITED'S ("KMBL") TREASURY FUNCTION HAD UNDERTAKEN A SUBSIDIARY GENERAL LEDGER ("SGL")BORROWING TRANSACTION IN BASKET REPO IN
182 DAY TREASURY BILLS FOR INR.200.78 CRORES (ABOUT $33 MILLION) ONAPRIL 13, 2016. HOWEVER THERE WAS AN ERROR BY KMBL'S TREASURY IN COMPUTING THE
AVAILABLE SECURITIES BALANCERESULTING IN A SHORTFALL OF SECURITIES OF INR.91.42 CRORES (ABOUT $15 MILLION) IN THE SGL ACCOUNT OF KMBL WITHTHE
RESERVE BANK OF INDIA. AFTER CONSIDERING KMBL'S EXPLANATION, RBI IMPOSED A PENALTY OF INR 5 LAKH (ABOUT$8000) ON KMBL FOR THE SAID SGL BOUNCE.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANKLIMITED
(For individuals, Last, First, Middle)
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is registered or applying for
registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the adviser's or advisory affiliate's favor.

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

03/21/2014 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
Debt - Corporate
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
THE RESERVE BANK OF INDIA ALLEGED THAT KOTAK MAHINDRA BANK LIMITED HAS FAILED TO OBTAIN A NO OBJECTIONCERTIFICATE FROM THREE BANKS THAT HAD ALREADY
EXTENDED CREDIT FACILITIES TO DECCAN CHRONICLE HOLDINGS LIMITED(COMPANY) BEFORE EXTENDING A LOAN TO THE COMPANY AND FAILED TO INFORM THE BANK
WHICH HAD PROVIDED WORKINGCAPITAL FINANCE TO THE COMPANY ABOUT THE LOAN.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

08/01/2014 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 16,434.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
THE RESERVE BANK OF INDIA CONDUCTED A SCRUTINY OF THE BOOKS OF 12 BANKS DURING THE LAST QUARTER OF 2013 ONTHE PROCESS FOLLOWED IN THE MATTER OF
LENDING TO DECCAN CHRONICLE HOLDINGS LIMITED (COMPANY). EVEN THOUGHKOTAK MAHINDRA BANK LIMITED (KMBL) WAS AWARE THAT THE COMPANY HAD CREDIT
FACILITIES FROM OTHER BANKS, KMBLFAILED TO OBTAIN A NO-OBJECTION CERTIFICATE FROM OTHER BANKS BEFORE EXTENDING A LOAN TO THE COMPANY AND DIDNOT
INFORM THE BANK THAT HAD PROVIDED WORKING CAPITAL FINANCE TO THE COMPANY ABOUT THE LOAN. RESERVE BANK OFINDIA LEVIED A FINE OF INR 1 MILLION ON
KMBL FOR NOT FOLLOWING ITS GUIDELINES IN THE MATTER. KMBL BEING A PUBLICLISTED COMPANY ON THE EXCHANGES IN INDIA DISCLOSED THIS MATTER IN ITS ANNUAL
REPORT FOR THE YEAR 2014-15.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANK LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

12/11/2025 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
RBI HAD LEVIED A PENALTY FOR FOLLOWING: ACCESS TO BANKING SERVICES - BASIC SAVINGS BANK DEPOSIT ACCOUNT: THE BANK OPENED ANOTHER BSBD ACCOUNT OF
CERTAIN CUSTOMERS WHO WERE ALREADY HOLDING BSBD ACCOUNT IN THE BANK; SCOPE OF ACTIVITIES TO BE UNDERTAKEN OF BUSINESS CORRESPONDENTS (BCS): THE
BANK ENTERED INTO AN ARRANGEMENT WITH BCS FOR UNDERTAKING ACTIVITIES, WHICH ARE NOT COVERED WITHIN THE SCOPE OF ACTIVITIES THAT CAN BE UNDERTAKEN
BY BCS CREDIT INFORMATION COMPANIES RULES, 2006 (CLC RULES) - THE BANK FURNISHED INACCURATE INFORMATION, IN RESPECT OF CERTAIN BORROWERS TO CREDIT
INFORMATION COMPANIES (CICS).

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

12/11/2025 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 65,451.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
RBI HAD LEVIED A PENALTY FOR FOLLOWING: ACCESS TO BANKING SERVICES - BASIC SAVINGS BANK DEPOSIT ACCOUNT: THE BANK OPENED ANOTHER BSBD ACCOUNT OF
CERTAIN CUSTOMERS WHO WERE ALREADY HOLDING BSBD ACCOUNT IN THE BANK; SCOPE OF ACTIVITIES TO BE UNDERTAKEN OF BUSINESS CORRESPONDENTS (BCS): THE
BANK ENTERED INTO AN ARRANGEMENT WITH BCS FOR UNDERTAKING ACTIVITIES, WHICH ARE NOT COVERED WITHIN THE SCOPE OF ACTIVITIES THAT CAN BE UNDERTAKEN
BY BCS CREDIT INFORMATION COMPANIES RULES, 2006 (CLC RULES) - THE BANK FURNISHED INACCURATE INFORMATION, IN RESPECT OF CERTAIN BORROWERS TO CREDIT
INFORMATION COMPANIES (CICS).

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK SECURITIES LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
NATIONAL STOCK EXCHANGE OF INDIA LIMITED

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

10/14/2021 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
KOTAK SECURITIES LIMITED ("KSL OR THE COMPANY") HAD RECEIVED TWO SHOW CAUSE NOTICES FROM NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE") FOR THE
MATTERS OF MATCH & REVERSAL OF TRADES TRANSACTIONS BEARING REFERENCE NO: NSE/INVG/2021/110175 DATED OCTOBER 14, 2021 AND NO: NSE/INVG/2022/113998
DATED MAY 02, 2022. THE COMPANY'S CLIENT MR. RAJASEKHAR GUTTIKONDA (RK8U0) AND 2 OF HIS RELATIVES HAD EXECUTED SYNCHRONIZED / MATCHED TRADES AND
THESE TRADES WERE REVERSED WITH SAME COUNTERPARTIES. AFTER CONSIDERING ALL THE FACTS AND SUBMISSIONS, MCSGFC PASSED AN ORDER STATING THAT THESE
TRADES WERE NON GENUINE AND ABNORMAL TRADES AND THEREFORE COMPANY WAS LIABLE TO PAY A PENALTY OF ?47,57,300/- (RUPEES FORTY-SEVEN LAKHS FIFTY-
SEVEN THOUSAND AND THREE HUNDRED ONLY), I.E. 100% OF THE PROFIT MADE BY ONE PARTY AND 100% OF THE LOSS INCURRED BY THE COUNTERPARTY.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

10/14/2021 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 25,131.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal, Financial Operations
Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to requalify/retrain, type of exam required and
whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution, disgorgement or monetary compensation, provide total amount, portion
levied against you or an advisory affiliate, date paid and if any portion of penalty was waived:
THE COMPANY HAD RESPONDED TO THE SAID NOTICES AND A PERSONAL REPRESENTATION WAS DONE BEFORE THE MEMBER AND CORE SETTLEMENT GUARANTEE
FUND COMMITTEE ("MCSGFC") OF NSE ON JANUARY 23, 2023. THEREAFTER, THE COMPANY HAD RECEIVED ORDER OF MCSGFC DATED 29 AUG 2023, WHEREIN KSL
WAS DIRECTED TO PAY A PENALTY OF ?47,57,300/- (RUPEES FORTY-SEVEN LAKHS FIFTY-SEVEN THOUSAND AND THREE HUNDRED ONLY). THE PENALTY WAS ALREADY
DEBITED TO RESPECTIVE CLIENTS BEFORE THE ORDER. BASED ON MULTIPLE DISCUSSIONS WITH THE CLIENT, WE HAVE RECOVERED 50% OF THE PENALTY AMOUNT
FROM THE CLIENT, AND HAVE PAID THE BALANCE 50% OUT OF KSL'S OWN ACCOUNT. ON CLIENT'S REQUEST, WE HAVE ALSO FILED A REVIEW PETITION WITH
MCSGFC OF NSE FOR REDUCTION IN PENALTY AMOUNT. OUR REVIEW APPLICATION HAS BEEN PLACED BEFORE THE COMMITTEE IN THE MONTH OF MARCH 2024. THE
REVIEW PETITION HAS BEEN REJECTED BY THE MEMBER COMMITTEE OF THE EXCHANGE, AND THE PENALTY AMOUNT OF RS. 47,57,300 STANDS VALID. AS MENTIONED
EARLIER, 50% OF THE PENALTY AMOUNT WAS ALREADY RECOVERED FROM THE CLIENT, WHILE THE REMAINING 50% HAS BEEN BORNE BY KSL.

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
KOTAK SECURITIES LIMITED ("KSL OR THE COMPANY") HAD RECEIVED TWO SHOW CAUSE NOTICES FROM NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE") FOR THE
MATTERS OF MATCH & REVERSAL OF TRADES TRANSACTIONS BEARING REFERENCE NO: NSE/INVG/2021/110175 DATED OCTOBER 14, 2021 AND NO: NSE/INVG/2022/113998
DATED MAY 02, 2022. THE COMPANY'S CLIENT MR. RAJASEKHAR GUTTIKONDA (RK8U0) AND 2 OF HIS RELATIVES HAD EXECUTED SYNCHRONIZED / MATCHED TRADES AND
THESE TRADES WERE REVERSED WITH SAME COUNTERPARTIES. AFTER CONSIDERING ALL THE FACTS AND SUBMISSIONS, MCSGFC PASSED AN ORDER STATING THAT THESE
TRADES WERE NON GENUINE AND ABNORMAL TRADES AND THEREFORE COMPANY WAS LIABLE TO PAY A PENALTY OF ?47,57,300/- (RUPEES FORTY-SEVEN LAKHS FIFTY-
SEVEN THOUSAND AND THREE HUNDRED ONLY), I.E. 100% OF THE PROFIT MADE BY ONE PARTY AND 100% OF THE LOSS INCURRED BY THE COUNTERPARTY.
GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an INITIAL AMENDED response used to report details for affirmative responses to Items 11.C., 11.D., 11.E., 11.F. or 11.G.
OR
of Form ADV.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANK LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

07/04/2022 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
1.THE RESERVE BANK OF INDIA HAS LEVIED PENALTIES FOR FAILURE TO COMPLY WITH THE FOLLOWING PROVISIONS/ACT A.FOR NON-COMPLIANCE WITH DIRECTIONS ON
'CUSTOMER PROTECTION - LIMITING LIABILITY OF CUSTOMERS IN UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS. B.FOR CONTRAVENTION OF THE PROVISIONS OF
SUBSECTION (2) OF SECTION 26A OF THE ACT READ WITH PARAGRAPH 3 OF THE DEPOSITOR EDUCATION AND AWARENESS FUND SCHEME' 2014. C.FOR NON-COMPLIANCE
WITH DIRECTIONS ON BANKS, EXPOSURE TO CAPITAL MARKETS - RATIONALIZATION OF NORMS' AND LOANS AND ADVANCES -STATUTORY AND OTHER

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

07/04/2022 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 110,935.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
1.THE RESERVE BANK OF INDIA HAS LEVIED PENALTIES FOR FAILURE TO COMPLY WITH THE FOLLOWING PROVISIONS/ACT A.FOR NON-COMPLIANCE WITH DIRECTIONS ON
'CUSTOMER PROTECTION - LIMITING LIABILITY OF CUSTOMERS IN UNAUTHORISED ELECTRONIC BANKING TRANSACTIONS. B.FOR CONTRAVENTION OF THE PROVISIONS OF
SUBSECTION (2) OF SECTION 26A OF THE ACT READ WITH PARAGRAPH 3 OF THE DEPOSITOR EDUCATION AND AWARENESS FUND SCHEME' 2014. C.FOR NON-COMPLIANCE
WITH DIRECTIONS ON BANKS, EXPOSURE TO CAPITAL MARKETS - RATIONALIZATION OF NORMS' AND LOANS AND ADVANCES -STATUTORY AND OTHER

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

No Information Filed

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

07/04/2025 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
WE HAVE MADE A SETTLEMENT APPLICATION WITH SEBI IN RESPECT OF KOTAK INDIA GROWTH FUND - II, A VENTURE CAPITAL FUND, TO SETTLE THE EXTENSION OF
TENURE BEYOND THE TERM MENTIONED IN THE PRIVATE PLACEMENT MEMORANDUM OF THE FUND. SEBI'S INTERNAL COMMITTEE AT THEIR MEETING HAD PROPOSED A
SETTLEMENT AMOUNT OF ? 10,87,500 WHICH WE HAVE AGREED TO. THE SAID SETTLEMENT ORDER HAS NO IMPACT ON THE US ADVISORY BUSINESS OR ITS CLIENTS.

8. Current Status? Pending On Appeal Final
9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

06/08/2026 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 11,490.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
WE HAVE MADE A SETTLEMENT APPLICATION WITH SEBI IN RESPECT OF KOTAK INDIA GROWTH FUND - II, A VENTURE CAPITAL FUND, TO SETTLE THE EXTENSION OF
TENURE BEYOND THE TERM MENTIONED IN THE PRIVATE PLACEMENT MEMORANDUM OF THE FUND. SEBI'S INTERNAL COMMITTEE AT THEIR MEETING HAD PROPOSED A
SETTLEMENT AMOUNT OF ? 10,87,500 WHICH WE HAVE AGREED TO. THE SAID SETTLEMENT ORDER HAS NO IMPACT ON THE US ADVISORY BUSINESS OR ITS CLIENTS.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

No Information Filed
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is registered or applying for
registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the adviser's or advisory affiliate's favor.

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

10/30/2025 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
SEBI HAD INTRODUCED AN INDUSTRY WIDE SETTLEMENT SCHEME WHEREBY ALL VENTURE CAPITAL FUNDS (VCFS) WHICH HAVE MIGRATED TO THE AIF REGULATIONS COULD
MAKE AN APPLICATION TO SETTLE THE EXTENSION OF TENURE BEYOND THE TERM MENTIONED IN THE PRIVATE PLACEMENT MEMORANDUM OF THE FUND. OUR FUND NAMED
KOTAK INDIA VENTURE FUND - I MADE AN APPLICATION UNDER THE SETTLEMENT SCHEME AND PAID AN AMOUNT OF INR 450,000 TO SETTLE THE EXTENSION OF TENURE OF
THE FUND. THE SAID SETTLEMENT ORDER HAS NO IMPACT ON THE US ADVISORY BUSINESS OR ITS CLIENTS.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

03/10/2026 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 4,754.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension
B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
SEBI HAD INTRODUCED AN INDUSTRY WIDE SETTLEMENT SCHEME WHEREBY ALL VENTURE CAPITAL FUNDS (VCFS) WHICH HAVE MIGRATED TO THE AIF REGULATIONS COULD
MAKE AN APPLICATION TO SETTLE THE EXTENSION OF TENURE BEYOND THE TERM MENTIONED IN THE PRIVATE PLACEMENT MEMORANDUM OF THE FUND. OUR FUND NAMED
KOTAK INDIA VENTURE FUND - I MADE AN APPLICATION UNDER THE SETTLEMENT SCHEME AND PAID AN AMOUNT OF INR 450,000 TO SETTLE THE EXTENSION OF TENURE OF
THE FUND. THE SAID SETTLEMENT ORDER HAS NO IMPACT ON THE US ADVISORY BUSINESS OR ITS CLIENTS.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANK LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

10/17/2023 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
RBI HAD IMPOSED A PENALTY OF INR 3.95 CRORE ON THE BANK FOR FOLLOWING CONTRAVENTIONS: A) FAILURE TO CARRY OUT ANNUAL REVIEW/DUE DILIGENCE OF THE
SERVICE PROVIDER B) FAILURE TO ENSURE THAT CUSTOMERS ARE NOT CONTACTED AFTER 7 PM AND BEFORE 7 AM C) LEVYING INTEREST FROM THE DISBURSEMENT DUE
DATE INSTEAD OF THE ACTUAL DATE OF DISBURSEMENT, CONTRARY TO THE TERMS & CONDITIONS OF SANCTION D) LEVYING FORECLOSURE CHARGE DESPITE THERE BEING
NO CLAUSE IN THE LOAN AGREEMENT FOR LEVY OF PREPAYMENT PENALTY ON LOANS RECALLED/FORECLOSURE INITIATED BY THE BANK.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

10/17/2023 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 417,327.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
RBI HAD IMPOSED A PENALTY OF INR 3.95 CRORE ON THE BANK FOR FOLLOWING CONTRAVENTIONS: A) FAILURE TO CARRY OUT ANNUAL REVIEW/DUE DILIGENCE OF THE
SERVICE PROVIDER B) FAILURE TO ENSURE THAT CUSTOMERS ARE NOT CONTACTED AFTER 7 PM AND BEFORE 7 AM C) LEVYING INTEREST FROM THE DISBURSEMENT DUE
DATE INSTEAD OF THE ACTUAL DATE OF DISBURSEMENT, CONTRARY TO THE TERMS & CONDITIONS OF SANCTION D) LEVYING FORECLOSURE CHARGE DESPITE THERE BEING
NO CLAUSE IN THE LOAN AGREEMENT FOR LEVY OF PREPAYMENT PENALTY ON LOANS RECALLED/FORECLOSURE INITIATED BY THE BANK.
GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an INITIAL AMENDED response used to report details for affirmative responses to Items 11.C., 11.D., 11.E., 11.F. or 11.G.
OR
of Form ADV.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

No Information Filed

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

12/07/2023 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:
5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
KOTAK ALTERNATE ASSET MANAGERS LIMITED (KAAML), KOTAK SEAF INDIA FUND AND KOTAK MAHINDRA TRUSTEESHIP SERVICES LIMITED (KMTSL) HAD RECEIVED A SHOW
CAUSE NOTICE DATED DECEMBER 07, 2023 FROM SEBI IN THE MATTER OF INDIA GROWTH FUND ("IGF"), A SCHEME OF KOTAK SEAF INDIA FUND (VENTURE CAPITAL FUND)
MANAGED BY KAAML AND FOR WHICH KMTSL WAS ACTING AS TRUSTEE, IN WHICH SEBI HAD ALLEGED THAT IGF WAS WOUND UP BEYOND THE TERM SPECIFIED IN IGF'S
PRIVATE PLACEMENT MEMORANDUM ("PPM"). THE TERM OF IGF WAS EXTENDED WITH THE CONSENT OF THE SUPER MAJORITY OF THE CONTRIBUTORS IN ACCORDANCE
WITH THE TERMS OF THE CONTRIBUTION AGREEMENT READ WITH THE PRIVATE PLACEMENT MEMORANDUM OF THE SCHEME. HOWEVER, SEBI HAD TREATED THIS
EXTENSION AS A VIOLATION UNDER REGULATION 23(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS READ WITH REGULATION 39 OF SEBI AIF REGULATIONS AND
LEVIED A PENALTY OF RS.3,00,000/- JOINTLY AND SEVERALLY ON KAAML, KOTAK SEAF INDIA FUND AND KMTSL VIDE ADJUDICATION ORDER DATED FEBRUARY 21, 2024. AN
APPEAL WAS FILED BEFORE THE SECURITIES APPELLATE TRIBUNAL (SAT) AGAINST THE AFORESAID ADJUDICATION ORDER. THE SAID APPEAL HAS NOW BEEN WITHDRAWN
AND THE CASE STANDS CLOSED. THE PENALTY AS LEVIED BY SEBI HAS BEEN PAID BY KAAML. THE SAID ADJUDICATION ORDER HAS NO IMPACT ON THE US ADVISORY
BUSINESS OR ITS CLIENTS.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

04/27/2026 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 3,170.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
KOTAK ALTERNATE ASSET MANAGERS LIMITED (KAAML), KOTAK SEAF INDIA FUND AND KOTAK MAHINDRA TRUSTEESHIP SERVICES LIMITED (KMTSL) HAD RECEIVED A SHOW
CAUSE NOTICE DATED DECEMBER 07, 2023 FROM SEBI IN THE MATTER OF INDIA GROWTH FUND ("IGF"), A SCHEME OF KOTAK SEAF INDIA FUND (VENTURE CAPITAL FUND)
MANAGED BY KAAML AND FOR WHICH KMTSL WAS ACTING AS TRUSTEE, IN WHICH SEBI HAD ALLEGED THAT IGF WAS WOUND UP BEYOND THE TERM SPECIFIED IN IGF'S
PRIVATE PLACEMENT MEMORANDUM ("PPM"). THE TERM OF IGF WAS EXTENDED WITH THE CONSENT OF THE SUPER MAJORITY OF THE CONTRIBUTORS IN ACCORDANCE
WITH THE TERMS OF THE CONTRIBUTION AGREEMENT READ WITH THE PRIVATE PLACEMENT MEMORANDUM OF THE SCHEME. HOWEVER, SEBI HAD TREATED THIS
EXTENSION AS A VIOLATION UNDER REGULATION 23(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS READ WITH REGULATION 39 OF SEBI AIF REGULATIONS AND
LEVIED A PENALTY OF RS.3,00,000/- JOINTLY AND SEVERALLY ON KAAML, KOTAK SEAF INDIA FUND AND KMTSL VIDE ADJUDICATION ORDER DATED FEBRUARY 21, 2024. AN
APPEAL WAS FILED BEFORE THE SECURITIES APPELLATE TRIBUNAL (SAT) AGAINST THE AFORESAID ADJUDICATION ORDER. THE SAID APPEAL HAS NOW BEEN WITHDRAWN
AND THE CASE STANDS CLOSED. THE PENALTY AS LEVIED BY SEBI HAS BEEN PAID BY KAAML. THE SAID ADJUDICATION ORDER HAS NO IMPACT ON THE US ADVISORY
BUSINESS OR ITS CLIENTS.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK SECURITIES LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

08/06/2024 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
KOTAK SECURITIES LIMITED ("KSL OR THE COMPANY") HAD RECEIVED SHOW CAUSE NOTICE FROM NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE") FOR THE
MATTERS OF MATCH & REVERSAL OF TRADES TRANSACTIONS BEARING REFERENCE NO: NSE/INVG/2024/136511 DATED AUGUST 06, 2024. THE 2 CLIENTS HAD EXECUTED
SYNCHRONIZED / MATCHED TRADES AND THESE TRADES WERE REVERSED WITH SAME COUNTERPARTIES.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

08/06/2024 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 2,665.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
KOTAK SECURITIES LIMITED ("KSL OR THE COMPANY") HAD RECEIVED SHOW CAUSE NOTICE FROM NATIONAL STOCK EXCHANGE OF INDIA LIMITED ("NSE") FOR THE
MATTERS OF MATCH & REVERSAL OF TRADES TRANSACTIONS BEARING REFERENCE NO: NSE/INVG/2024/136511 DATED AUGUST 06, 2024. THE 2 CLIENTS HAD EXECUTED
SYNCHRONIZED / MATCHED TRADES AND THESE TRADES WERE REVERSED WITH SAME COUNTERPARTIES.

Regulatory Action
Check item(s) being responded to:
11.C(1) 11.C(2) 11.C(3) 11.C(4) 11.C(5)
11.D(1) 11.D(2) 11.D(3) 11.D(4) 11.D(5)
11.E(1) 11.E(2) 11.E(3) 11.E(4)
11.F. 11.G.

Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File with a completed
Execution Page.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD
This advisory affiliate is a Firm an Individual
Number:
Registered:
Yes No
Name: KOTAK MAHINDRA ASSET
MANAGEMENT COMPANY LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

05/10/2019 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED (AMC) HAS BEEN SERVED A SHOW CAUSE NOTICE (SCN) BY SEBI, VIDE ITS LETTER NO.
SEBI/HO/IMD/DF2/OW/P/2019/11854/1 DATED MAY 10, 2019, AND SUPPLEMENTARY SHOW CAUSE NOTICE VIDE SEBI'S LETTER NO.
SEBI/HO/IMD/DF2/OW/P/2019/014772/1 DATED JUNE 12, 2019, ISSUED UNDER SECTION 11(1), 11B AND 11B (2) OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT,
1992 READ WITH PROVISIONS OF SEBI (MUTUAL FUND) REGULATIONS, 1996, IN THE MATTER OF KOTAK MAHINDRA ASSET MANAGEMENT CO. LTD. THE ALLEGED CHARGE IS,
THAT ON MATURITY DATE OF KOTAK FMP SERIES 127 AND 183, CLOSE ENDED DEBT SCHEMES, INVESTORS WERE NOT PAID FULL PROCEEDS ON THE DECLARED NAV DUE TO
PENDING RECOVERY OF DUES FROM ESSEL GROUP OF COMPANIES. THE AMC VIDE ITS LETTER DATED AUGUST 29, 2019, HAD FILED ITS REPLY TO THE AFORESAID SHOW
CAUSE NOTICE AND SUPPLEMENTARY SHOW CAUSE NOTICE. KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED (AMC) HAS BEEN SERVED A SHOW CAUSE NOTICE
(SCN) BY SEBI, VIDE ITS LETTER NO. SEBI/HO/IMD/DF2/OW/P/2020/13217/1 DATED AUGUST 13, 2020 IN THE MATTER OF KOTAK FMP SERIES 187, 189, 193 AND 194,
ISSUED UNDER SECTION 11(1), 11B AND 11B(2) OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ RULE 4 (1) OF THE SEBI ( PROCEDURE FOR HOLDING
INQUIRY AND IMPOSING PENALTIES) RULES, 1995 FOR INQUIRY AND IMPOSING PENALTY UNDER SECTIONS 15D (B) AND 15 HB OF THE ACT READ WITH PROVISIONS OF THE
SEBI (MUTUAL FUND) REGULATIONS, 1996. SEBI VIDE ITS ORDER NO. WTM/SM/IMD/IMD-I DOF2/13158/2021-22 DATED AUGUST 27, 2021 HAD ISSUED CERTAIN DIRECTIONS
AND IMPOSED PENALTY TO KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED (KMAMC). KMAMC HAD ALSO BEEN RESTRAINED FROM LAUNCHING ANY NEW FMP
SCHEME FOR A PERIOD OF SIX MONTHS FROM THE DATE OF SEBI ORDER. THE BOARD OF KOTAK ASSET MANAGEMENT COMPANY LTD HAD FILED AN APPEAL BEFORE THE
SECURITIES APPELLATE TRIBUNAL AGAINST THE SEBI ORDER DATED AUGUST 27, 2021. THE SAT HEARING WAS HELD ON AUGUST 24, 2022 AND HAS GRANTED STAY ON
DIRECTION ISSUED UNDER SEBI ORDER DATED JUNE 30, 2022. THE SAT HEARING FOR SEBI ORDER DATED AUGUST 27, 2021 AND JUNE 30, 2022 HAS BEEN ADJOURNED TO
MARCH 19, 2025, THE ORDER HAS BEEN RESERVED BY SAT. SAT, VIDE ITS ORDER DATED MARCH 6, 2026, HAS GRANTED RELIEF IN RESPECT OF THE DIRECTION RELATING TO
DISGORGEMENT OF INVESTMENT MANAGEMENT FEES, WHILE UPHOLDING THE SEBI ORDER ON PENALTIES. THE SAT HAS FURTHER GRANTED EIGHT WEEKS' TIME TO PURSUE
APPROPRIATE LEGAL REMEDIES.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:

11. Resolution Date (MM/DD/YYYY):

Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED (AMC) HAS BEEN SERVED A SHOW CAUSE NOTICE (SCN) BY SEBI, VIDE ITS LETTER NO.
SEBI/HO/IMD/DF2/OW/P/2019/11854/1 DATED MAY 10, 2019, AND SUPPLEMENTARY SHOW CAUSE NOTICE VIDE SEBI'S LETTER NO.
SEBI/HO/IMD/DF2/OW/P/2019/014772/1 DATED JUNE 12, 2019, ISSUED UNDER SECTION 11(1), 11B AND 11B (2) OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT,
1992 READ WITH PROVISIONS OF SEBI (MUTUAL FUND) REGULATIONS, 1996, IN THE MATTER OF KOTAK MAHINDRA ASSET MANAGEMENT CO. LTD. THE ALLEGED CHARGE IS,
THAT ON MATURITY DATE OF KOTAK FMP SERIES 127 AND 183, CLOSE ENDED DEBT SCHEMES, INVESTORS WERE NOT PAID FULL PROCEEDS ON THE DECLARED NAV DUE TO
PENDING RECOVERY OF DUES FROM ESSEL GROUP OF COMPANIES. THE AMC VIDE ITS LETTER DATED AUGUST 29, 2019, HAD FILED ITS REPLY TO THE AFORESAID SHOW
CAUSE NOTICE AND SUPPLEMENTARY SHOW CAUSE NOTICE. KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED (AMC) HAS BEEN SERVED A SHOW CAUSE NOTICE
(SCN) BY SEBI, VIDE ITS LETTER NO. SEBI/HO/IMD/DF2/OW/P/2020/13217/1 DATED AUGUST 13, 2020 IN THE MATTER OF KOTAK FMP SERIES 187, 189, 193 AND 194,
ISSUED UNDER SECTION 11(1), 11B AND 11B(2) OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ RULE 4 (1) OF THE SEBI ( PROCEDURE FOR HOLDING
INQUIRY AND IMPOSING PENALTIES) RULES, 1995 FOR INQUIRY AND IMPOSING PENALTY UNDER SECTIONS 15D (B) AND 15 HB OF THE ACT READ WITH PROVISIONS OF THE
SEBI (MUTUAL FUND) REGULATIONS, 1996. SEBI VIDE ITS ORDER NO. WTM/SM/IMD/IMD-I DOF2/13158/2021-22 DATED AUGUST 27, 2021 HAD ISSUED CERTAIN DIRECTIONS
AND IMPOSED PENALTY TO KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED (KMAMC). KMAMC HAD ALSO BEEN RESTRAINED FROM LAUNCHING ANY NEW FMP
SCHEME FOR A PERIOD OF SIX MONTHS FROM THE DATE OF SEBI ORDER. THE BOARD OF KOTAK ASSET MANAGEMENT COMPANY LTD HAD FILED AN APPEAL BEFORE THE
SECURITIES APPELLATE TRIBUNAL AGAINST THE SEBI ORDER DATED AUGUST 27, 2021. THE SAT HEARING WAS HELD ON AUGUST 24, 2022 AND HAS GRANTED STAY ON
DIRECTION ISSUED UNDER SEBI ORDER DATED JUNE 30, 2022. THE SAT HEARING FOR SEBI ORDER DATED AUGUST 27, 2021 AND JUNE 30, 2022 HAS BEEN ADJOURNED TO
MARCH 19, 2025, THE ORDER HAS BEEN RESERVED BY SAT. SAT, VIDE ITS ORDER DATED MARCH 6, 2026, HAS GRANTED RELIEF IN RESPECT OF THE DIRECTION RELATING TO
DISGORGEMENT OF INVESTMENT MANAGEMENT FEES, WHILE UPHOLDING THE SEBI ORDER ON PENALTIES. THE SAT HAS FURTHER GRANTED EIGHT WEEKS' TIME TO PURSUE
APPROPRIATE LEGAL REMEDIES.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

No Information Filed

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

10/12/2023 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
KOTAK OPTIMUS MODERATE SCHEME ("THE SCHEME"), A SCHEME OF KOTAK ALTERNATE ASSETS FUND III ('THE FUND') BEING A CATEGORY III ALTERNATIVE INVESTMENT
FUND HAVING SEBI REGISTRATION NO. IN/AIF3/18-19/0604 DATED OCTOBER 19, 2018. THE OBJECTIVE OF THE SCHEME IS TO ACHIEVE MODERATE CAPITAL APPRECIATION
OF ASSETS BY EQUALLY ALLOCATING INVESTMENTS TO DEBT AND EQUITY SECURITIES. INVESTMENTS ARE WELL DIVERSIFIED TO REDUCE SIGNIFICANT RISKS TO ANY
PARTICULAR INVESTMENT IN THE PORTFOLIO. KOTAK ALTERNATE ASSET MANAGERS LIMITED ("KAAML"), A SUBSIDIARY OF KOTAK MAHINDRA BANK LIMITED, ACTS AS THE
INVESTMENT MANAGER TO THE SCHEME. AS PART OF THE INVESTMENT STRATEGY, THE SCHEME INVESTS IN TAX FREE BONDS OF PUBLIC SECTOR UNIT (PSU) ISSUERS. AS
PER SEBI AIF REGULATIONS, 2012, A CATEGORY III AIF IS NOT ALLOWED TO INVEST MORE THAN 10% OF INVESTABLE FUNDS (IN CASE OF ALL ASSET CLASSES EXCEPT
EQUITY) IN A SINGLE INVESTEE COMPANY. HOWEVER, THE SCHEME INADVERTENTLY BREACHED THE LIMIT OF 10% IN ONE OF THE DEBT PORTFOLIO INVESTMENTS IN A PSU
VIZ. INDIAN RAILWAY FINANCIAL CORPORATION, DONE BY THE SCHEME FROM MAY 13, 2022 TILL JULY 11, 2022. IN THE ISSUER LIMIT TRACKER FILE, AGAINST EACH
TRADE/SECURITY, THE NAME OF THE ISSUER WAS MANUALLY INSERTED/WRITTEN WHICH WAS THE ROOT CAUSE FOR THE BREACH OF THE CONCENTRATION LIMIT, AS THE
MAKER OF THE ISSUER LIMIT TRACKER HAD WRITTEN AN INCORRECT NAME OF THE ISSUER AGAINST THE PARTICULAR SECURITY. FOR E.G.; IRFC 08.48% TAXFREE SERIES
89A OPTION-II21-NOV-2028 BOND WAS MARKED AGAINST ISSUER NAME OF REC, RESULTING IN TO INCORRECT AMOUNT OF INVESTMENTS AS WELL AS ITS VALUATION
AGAINST THE ISSUER I.E. IRFC, WHICH IN TURN RESULTED INTO THE BREACH OF SEBI CONCENTRATION LIMIT NORMS. THE SETTLEMENT PROCEEDING IN RESPECT OF THE
SAID DEFAULT HAS BEEN CLOSED WITH SEBI. THE SAID SETTLEMENT ORDER HAS NO IMPACT ON THE US ADVISORY BUSINESS OR ITS CLIENTS.

8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

01/30/2024 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 8,320.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
KOTAK OPTIMUS MODERATE SCHEME ("THE SCHEME"), A SCHEME OF KOTAK ALTERNATE ASSETS FUND III ('THE FUND') BEING A CATEGORY III ALTERNATIVE INVESTMENT
FUND HAVING SEBI REGISTRATION NO. IN/AIF3/18-19/0604 DATED OCTOBER 19, 2018. THE OBJECTIVE OF THE SCHEME IS TO ACHIEVE MODERATE CAPITAL APPRECIATION
OF ASSETS BY EQUALLY ALLOCATING INVESTMENTS TO DEBT AND EQUITY SECURITIES. INVESTMENTS ARE WELL DIVERSIFIED TO REDUCE SIGNIFICANT RISKS TO ANY
PARTICULAR INVESTMENT IN THE PORTFOLIO. KOTAK ALTERNATE ASSET MANAGERS LIMITED ("KAAML"), A SUBSIDIARY OF KOTAK MAHINDRA BANK LIMITED, ACTS AS THE
INVESTMENT MANAGER TO THE SCHEME. AS PART OF THE INVESTMENT STRATEGY, THE SCHEME INVESTS IN TAX FREE BONDS OF PUBLIC SECTOR UNIT (PSU) ISSUERS. AS
PER SEBI AIF REGULATIONS, 2012, A CATEGORY III AIF IS NOT ALLOWED TO INVEST MORE THAN 10% OF INVESTABLE FUNDS (IN CASE OF ALL ASSET CLASSES EXCEPT
EQUITY) IN A SINGLE INVESTEE COMPANY. HOWEVER, THE SCHEME INADVERTENTLY BREACHED THE LIMIT OF 10% IN ONE OF THE DEBT PORTFOLIO INVESTMENTS IN A PSU
VIZ. INDIAN RAILWAY FINANCIAL CORPORATION, DONE BY THE SCHEME FROM MAY 13, 2022 TILL JULY 11, 2022. IN THE ISSUER LIMIT TRACKER FILE, AGAINST EACH
TRADE/SECURITY, THE NAME OF THE ISSUER WAS MANUALLY INSERTED/WRITTEN WHICH WAS THE ROOT CAUSE FOR THE BREACH OF THE CONCENTRATION LIMIT, AS THE
MAKER OF THE ISSUER LIMIT TRACKER HAD WRITTEN AN INCORRECT NAME OF THE ISSUER AGAINST THE PARTICULAR SECURITY. FOR E.G.; IRFC 08.48% TAXFREE SERIES
89A OPTION-II21-NOV-2028 BOND WAS MARKED AGAINST ISSUER NAME OF REC, RESULTING IN TO INCORRECT AMOUNT OF INVESTMENTS AS WELL AS ITS VALUATION
AGAINST THE ISSUER I.E. IRFC, WHICH IN TURN RESULTED INTO THE BREACH OF SEBI CONCENTRATION LIMIT NORMS. THE SETTLEMENT PROCEEDING IN RESPECT OF THE
SAID DEFAULT HAS BEEN CLOSED WITH SEBI. THE SAID SETTLEMENT ORDER HAS NO IMPACT ON THE US ADVISORY BUSINESS OR ITS CLIENTS.

PART I
A. The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

You and one or more of your
advisory affiliates
One or more of your
advisory affiliates

ADV DRP - ADVISORY AFFILIATE

CRD Number:
This advisory affiliate is a Firm an Individual
Registered:
Yes No
Name: KOTAK MAHINDRA BANK LIMITED
(For individuals, Last, First, Middle)

This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the circumstances:

Yes No

NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.

PART II
1. Regulatory Action initiated by:
SEC Other Federal State Foreign
SRO
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO)
RESERVE BANK OF INDIA

2. Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions:

3. Date Initiated (MM/DD/YYYY):

04/11/2025 Exact Explanation
If not exact, provide explanation:

4. Docket/Case Number:

5. Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):

6. Principal Product Type:
No Product
Other Product Types:

7. Describe the allegations related to this regulatory action (your response must fit within the space provided):
RBI HAD LEVIED A PENALTY FOR FOLLOWING: (A)THE BANK FAILED TO ENSURE THAT THE OUTSTANDING 'LOAN COMPONENT' WAS AT LEAST THE SPECIFIED PERCENTAGE OF
THE SANCTIONED FUND-BASED WORKING CAPITAL LIMIT FOR CERTAIN BORROWERS IN LINE WITH RBI GUIDELINES ON LOAN SYSTEM FOR DELIVERY OF BANK CREDIT.
(B)THE BANK DID NOT COMPLY WITH THE MARGIN REQUIREMENTS FOR INTRA-DAY LIMITS TO CERTAIN STOCK-BROKERS IN LINE WITH RBI GUIDELINES ON 'LOANS AND
ADVANCES - STATUTORY AND OTHER RESTRICTION
8. Current Status? Pending On Appeal Final

9. If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.

10. How was matter resolved:
Settled

11. Resolution Date (MM/DD/YYYY):

04/11/2025 Exact Explanation
If not exact, provide explanation:

12. Resolution Detail:

A. Were any of the following Sanctions Ordered (check all appropriate items)?

Monetary/Fine Amount: $ 64,870.00
Revocation/Expulsion/Denial Disgorgement/Restitution
Censure Cease and Desist/Injunction
Bar Suspension

B. Other Sanctions Ordered:

13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response must fit within the
space provided).
RBI HAD LEVIED A PENALTY FOR FOLLOWING: (A)THE BANK FAILED TO ENSURE THAT THE OUTSTANDING 'LOAN COMPONENT' WAS AT LEAST THE SPECIFIED PERCENTAGE OF
THE SANCTIONED FUND-BASED WORKING CAPITAL LIMIT FOR CERTAIN BORROWERS IN LINE WITH RBI GUIDELINES ON LOAN SYSTEM FOR DELIVERY OF BANK CREDIT.
(B)THE BANK DID NOT COMPLY WITH THE MARGIN REQUIREMENTS FOR INTRA-DAY LIMITS TO CERTAIN STOCK-BROKERS IN LINE WITH RBI GUIDELINES ON 'LOANS AND
ADVANCES - STATUTORY AND OTHER RESTRICTION

CIVIL JUDICIAL ACTION DISCLOSURE REPORTING PAGE (ADV)

No Information Filed

Part 2
Exemption from brochure delivery requirements for SEC-registered advisers

SEC rules exempt SEC-registered advisers from delivering a firm brochure to some kinds of clients. If these exemptions excuse you from delivering a brochure to all of your
advisory clients, you do not have to prepare a brochure.
Yes No
Are you exempt from delivering a brochure to all of your clients under these rules?

If no, complete the ADV Part 2 filing below.

Amend, retire or file new brochures:

Brochure ID Brochure Name Brochure Type(s)
416945 KOTAK ALTERNATE ASSET MANAGERS High net worth individuals, Private funds or pools
LIMITED - PART 2A BROCHURE

Part 3

CRS Type(s) Affiliate Info Retire

Investment Advisor
Investment Advisor

Execution Pages
DOMESTIC INVESTMENT ADVISER EXECUTION PAGE
You must complete the following Execution Page to Form ADV. This execution page must be signed and attached to your initial submission of Form ADV to the SEC and all
amendments.

Appointment of Agent for Service of Process

By signing this Form ADV Execution Page, you, the undersigned adviser, irrevocably appoint the Secretary of State or other legally designated officer, of the state in which you
maintain your principal office and place of business and any other state in which you are submitting a notice filing, as your agents to receive service, and agree that such persons
may accept service on your behalf, of any notice, subpoena, summons, order instituting proceedings, demand for arbitration, or other process or papers, and you further agree
that such service may be made by registered or certified mail, in any federal or state action, administrative proceeding or arbitration brought against you in any place subject to
the jurisdiction of the United States, if the action, proceeding, or arbitration (a) arises out of any activity in connection with your investment advisory business that is subject to
the jurisdiction of the United States, and (b) is founded, directly or indirectly, upon the provisions of: (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust
Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these acts, or (ii) the laws of the
state in which you maintain your principal office and place of business or of any state in which you are submitting a notice filing.

Signature

I, the undersigned, sign this Form ADV on behalf of, and with the authority of, the investment adviser. The investment adviser and I both certify, under penalty of perjury under
the laws of the United States of America, that the information and statements made in this ADV, including exhibits and any other information submitted, are true and correct,
and that I am signing this Form ADV Execution Page as a free and voluntary act.

I certify that the adviser's books and records will be preserved and available for inspection as required by law. Finally, I authorize any person having custody or possession of
these books and records to make them available to federal and state regulatory representatives.

Signature: Date: MM/DD/YYYY
Printed Name: Title:
Adviser CRD Number:
317952

NON-RESIDENT INVESTMENT ADVISER EXECUTION PAGE
You must complete the following Execution Page to Form ADV. This execution page must be signed and attached to your initial submission of Form ADV to the SEC and all
amendments.

1. Appointment of Agent for Service of Process

By signing this Form ADV Execution Page, you, the undersigned adviser, irrevocably appoint each of the Secretary of the SEC, and the Secretary of State or other legally
designated officer, of any other state in which you are submitting a notice filing, as your agents to receive service, and agree that such persons may accept service on your
behalf, of any notice, subpoena, summons, order instituting proceedings, demand for arbitration, or other process or papers, and you further agree that such service may be
made by registered or certified mail, in any federal or state action, administrative proceeding or arbitration brought against you in any place subject to the jurisdiction of the
United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with your investment advisory business that is subject to the jurisdiction of the
United States, and (b) is founded, directly or indirectly, upon the provisions of: (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of
1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these acts, or (ii) the laws of any state in which you
are submitting a notice filing.

2. Appointment and Consent: Effect on Partnerships

If you are organized as a partnership, this irrevocable power of attorney and consent to service of process will continue in effect if any partner withdraws from or is admitted to
the partnership, provided that the admission or withdrawal does not create a new partnership. If the partnership dissolves, this irrevocable power of attorney and consent
shall be in effect for any action brought against you or any of your former partners.

3. Non-Resident Investment Adviser Undertaking Regarding Books and Records

By signing this Form ADV, you also agree to provide, at your own expense, to the U.S. Securities and Exchange Commission at its principal office in Washington D.C., at any
Regional or District Office of the Commission, or at any one of its offices in the United States, as specified by the Commission, correct, current, and complete copies of any or all
records that you are required to maintain under Rule 204-2 under the Investment Advisers Act of 1940. This undertaking shall be binding upon you, your heirs, successors and
assigns, and any person subject to your written irrevocable consents or powers of attorney or any of your general partners and managing agents.

Signature

I, the undersigned, sign this Form ADV on behalf of, and with the authority of, the non-resident investment adviser. The investment adviser and I both certify, under penalty of
perjury under the laws of the United States of America, that the information and statements made in this ADV, including exhibits and any other information submitted, are true
and correct, and that I am signing this Form ADV Execution Page as a free and voluntary act.

Signature: Date: MM/DD/YYYY
SANJAY MITRA 06/30/2026
Printed Name: Title:
SANJAY MITRA CHIEF COMPLIANCE OFFICER
Adviser CRD Number:
317952