Worries about the prospects of debt mutual funds holding securities of Subhash Chandra’s Essel Group entities have resurfaced after Kotak Mutual Fund delayed full redemption in several fixed maturity plans (FMPs), sparking a scramble among investors to check if they too have any exposure to such paper.
Wealth managers said investors have turned jittery about the repayment capabilities of Essel, which has bought time from lenders — mutual funds and non-banking finance companies (NBFCs) — ..