Nobody knows for sure whether or when Sebi is going to restrict redemptions on liquid funds. But the reports are disconcerting for the mutual funds and intermediaries. ET has reported on November 12 that Sebi is considering a short lock-in period liquid funds. Investors, especially large companies, park idle cash in liquid funds for a short period. Any restriction on redemption would make liquid schemes meaningless, fear many mutual fund participants. ET.com Mutual Funds spoke two debt mutual fund managers and a top mutual fund industry analyst to find out what is in store for liquid funds.