Mutual Fund houses approach SEBI to give time to Essel Group
Feb 06 2019
News Category: Industry Update
According to media reports, mutual funds have asked Securities and Exchange Board of India (SEBI) to change the terms of the debenture trust deed of Essel Group. Mutual funds have approached the regulator and requested it to provide Essel promoters sometime to identify a strategic investor rather than offloading the pledged share, particularly as the security coverage has plunged. SEBI is expected to consider the case after determining if it’s in the best interest of the investors.