Debenture trustees have been directed to communicate immediately to investors any restructuring proposal
Sebi | Mutual Funds
The Securities and Exchange Board of India (Sebi) on Thursday directed mutual funds
(MFs) to report immediately to rating agencies any proposal they receive from lenders or debenture trustees (DTs) for restructuring of debt due to Covid-related stress.
DTs have been directed to communicate immediately to investors any restructuring proposal. “If the valuation agency, based on its assessment of the proposal, is of the view that the proposed restructuring is solely due to fallout of the pandemic then the valuation agency may not consider the restructuring,” the regulator said.
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First Published: Fri, October 02 2020. 01:03 IST