News From Press MFs reel from Reliance Business Broadcast Holdings default; exposure around 100% in one scheme

MFs reel from Reliance Business Broadcast Holdings default; exposure around 100% in one scheme

Source: Mint Sep 16, 2019

Mutual funds, Reliance Business Broadcast Holdings, Reliance ADAG Group, CARE Ratings, BTVi, UTI Ultra Short Term Fund, RNAM

On 12th September, CARE Ratings downgraded Reliance Business Broadcast Network Holdings Ltd (a Reliance ADAG Group company) to D due to a delay in debt servicing. Reliance Business Broadcast Network Holdings Ltd holds Business Broadcast News Private Limited as a 100% subsidiary. The latter, which operated the business TV channel BTVi, reportedly halted operations on 1st September 2019.

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1 Comment

Prashant · 5 years ago `

It is ironic that so many defaults are happening and all AMCs and even government is sleeping over it and just passing on the loss to investors. Whoever defaults should be booked by the law and sent to jail immediately otherwise nobody will be afraid to eat up investor's and other's money. His or her properties and all the other assets should be seized and all the lenders should be paid out of that. Why should investors bear default burden when they have given money to these big AMCs to manage them well and keep them safe as well?

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