India’s top mutual funds risk running afoul of the country’s securities regulator for granting more time to media mogul Subhash Chandra for repaying nearly a billion dollars in debt.
Shares of the group’s flagship Zee Entertainment Enterprises Ltd.NSE -4.59 % have steadied since hitting a five-year low Monday after the group said the money managers had agreed to extend the repayment timelines on obligations due by September-end.
