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Kotak AMC, executives seek settlement in Essel Group debt dispute
The case dates back to the 2019 Essel liquidity crisis, when a sharp fall in Zee Entertainment's share price triggered margin calls on pledged shares securing debt held by six Kotak fixed maturity plans (FMPs). The case relates to Kotak Mutual Fund's six close-ended debt schemes (FMPs), which had invested in zero coupon non-convertible debentures (NCDs) issued by Konti Infrapower & Multiventures and Edison Utility Works, part of the Essel Group, the promoter group of Zee Entertainment Enterprises.
Kotak AMC, executives seek settlement in Essel Group debt dispute
The case dates back to the 2019 Essel liquidity crisis, when a sharp fall in Zee Entertainment's share price triggered margin calls on pledged shares securing debt held by six Kotak fixed maturity plans (FMPs). The case relates to Kotak Mutual Fund's six close-ended debt schemes (FMPs), which had invested in zero coupon non-convertible debentures (NCDs) issued by Konti Infrapower & Multiventures and Edison Utility Works, part of the Essel Group, the promoter group of Zee Entertainment Enterprises.
ICICI Prudential Mutual Fund reduces stake in Entertainment Network India Ltd by over 2% - scanx.trade
ICICI Prudential Mutual Fund reduces stake in Entertainment Network India Ltd by over 2%scanx.trade
Sebi allows AIFs to retain liquidation proceeds beyond fund life
Markets regulator Sebi on Tuesday issued guidelines to permit Alternative Investment Funds (AIFs) to retain liquidation proceeds beyond their permissible fund life under specified circumstances. The regulator also introduced an 'Inoperative Fund' framework for wound-up funds with residual obligations. The move follows amendments to the Sebi (Alternative Investment Funds) Regulations on April 18 aimed at providing operational flexibility to AIFs during the winding-up process and surrender of registration. Under the new framework, AIFs or their schemes may retain liquidation proceeds beyond the liquidation or dissolution period if they have received litigation notices or regulatory demands, obtained consent from at least 75 per cent of investors by value for retaining funds against anticipated liabilities, or need to meet residual winding-up related operational expenses, Sebi said in its circular. The regulator said litigation-related communications could include notices from tax ...
Stock markets can deliver years of zero returns, explains DSP Mutual Fund MD, CEO: Key takeaways for investors
Kalpen Parekh, MD and CEO at DSP Mutual Fund, shared an important insight in his post on social media platform X (formerly Twitter) that all markets can have long periods of zero returns.