SEBI has imposed a fine of ₹16 lakh on Edelweiss Asset Management, its CEO Radhika Gupta and fund manager Trideep Bhattacharya for violating mutual fund rules. The regulator noted that the Edelweiss Focused Equity Fund violated the provision mandating it to invest in a maximum of 30 stocks. The deviation was observed for 88 days, SEBI said.