Received all interest payments and maturity proceeds, says fund house
LIC Mutual Fund has received Rs. 295 crore payment as part of its investments in troubled IL&FS Securities Service. The entire IL&FS Group companies have delayed interest and redemption of its bonds, rattling the entire financial markets.
Earlier this month, LIC Mutual Fund had got the first tranche of Rs. 200 crore from IL&FS Securities Services which has been acquired by IndusInd Bank.
Mutual funds had invested about Rs. 2,800 crore in the debt securities of ailing Infrastructure Leasing & Financial Services and its group companies, which were downgraded recently on liquidity concerns.
