The perils of investments by mutual funds investing in debt paper collateralised by listed equity shares came home to roost recently. In this instance mutual funds have acted prudently and agreed to a controlled liquidation with some possible additional returns for investors. This brings to focus the “loan against shares” market in India. Traditionally this has been the domain of non-banking financeNSE -2.62 % companies (NBFCs) and other non-bank financiers. It’s an important source of risk capi ..
