Media Reports: Kotak Mutual Fund unable to repay FMP investors until recovery from Zee
Apr 11 2019
News Category: AMC Specific Updates
According to media reports, Kotak Mutual Fund may be unable to repay the entire investment by investors of Kotak FMP Series 127 and Kotak FMP Series 183. The two funds, which have already matured, were invested in two Zee Entertainment Enterprises Ltd. (Zee) backed NCDs. The AMC does not intend to sell the collateralized shares of Zee until Sep 30, 2019, which is the moratorium issued to Zee for investment repayment.