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Axis Asset Management Company, which had sacked its two fund managers in May, on Tuesday said a detailed probe has found that they had violated securities law but emphasised that their conduct would not have any impact on its operations. The mutual fund promoted by Axis Bank terminated the services of its chief trader and fund manager Viresh Joshi on May 18, and fund manager Deepak Agrawal on May 20. It was alleged that the two individuals made illicit gains through front-running activities.
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