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Anil Ambani To Subhash Chandra — Promoter Debt Risk Ignored By Some Rating Agencies?
Together, Brickworks and Infomerics have rated 95.6 percent of the equity-backed bonds floating in the market.
21 Feb 2019, 10:03 AM IST
In late January, a surprising bit of news emerged from India’s mutual fund industry. Some of the country’s most prominent mutual funds reached a ‘stand-still’ agreement with the Subhash Chandra-promoted Essel Group, which meant they would not sell shares of group companies pledged with them.Mutual funds had invested in bonds issued by the group’s promoter entities, backed by equity shares of listed group companies in the form of coll...
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