Mutual funds are likely to extend the September 30 deadline for Essel Group to repay the remaining debt, according to three people familiar with the matter. After repaying about Rs 2,300 crore last week, Essel group have to settle the remaining debt by September 30 as per the agreement.
Essel Group sold 11 per cent in its media unit, Zee Entertainment, to Invesco Oppenheimer for Rs 4,224 crore and repaid Rs 2,300 crore to six mutual fund houses.
