News From Press HC order on Indiabulls NCD dues puts MFs in tight spot

HC order on Indiabulls NCD dues puts MFs in tight spot

So far, the RBI has not spoken about providing a line of credit to the fund houses.

ET Apr 22, 2020

An order of the Delhi high court obtained by private sector lender IndiabullsNSE -5.00 % Housing Finance against markets regulator Sebi has put mutual fund houses in a tight spot. The HC has granted Indiabulls, a non-banking financial company (NBFC), the permission to not pay its debenture holders, including fund houses, interest and principal as long as the RBI allows banks and NBFCs to offer moratorium to their borrowers. Fund managers now fear that other NBFCs may take the same route ..

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