News From Press Mutual Funds Grapple with Altico Capital’s Default

Mutual Funds Grapple with Altico Capital’s Default

Source: Moneylife Sep 14, 2019

Real estate financier Altico Capital India recently defaulted on interest payments of Rs19.90 crore due on 12 September 2019 to Mashreq bank of the United Arab Emirates (UAE). Altico Capital is a non-banking finance company (NBFC) lending mainly to the real estate sector with considerable borrowings from banks and financial institutions, including many mutual funds (MFs).

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