In a note to investors, FT MF said that it was in the process of initiating appropriate enforcement action to recover dues from the issuer and other connected parties
Franklin Templeton shut six debt mutual fund schemes on April 23, citing redemption pressure and lack of liquidity in the bond market
These funds may be raised in one or more tranches, the company said
Bonds/non-convertible debentures constitute significant portion of company's total borrowings, says state-owned lender
Rating revision factored in likelihood of default on payments due on Wednesday
The payments to the lenders or NCD holders remain in abeyance and will be subject to the outcome of the CIRP process, the company said.
In notes to its consolidated results for FY20, the list of debt on which it has defaulted, or has delayed payments, includes 33 different lenders and non-convertible debenture (NCD) series.
The company has restarted operations at all plants with Jamshedpur facility also getting approval on May 27, Tata Motors said in a regulatory filing.
If the proposal is approved, companies listing their non-convertible debentures won't be obliged to meet disclosure norms
The fund-raising will be used to meet the Haridwar-based company's working capital requirements and strengthen the supply chain network
NCDs will carry a coupon rate of 10.10 per cent with a tenure of three years
Schemes among the six wound up by the fund house had given the loan crore against non-convertible debentures (NCDs) to the firm in March 2019, according to ED's chargesheet
Mutual fund manager appoints legal counsel, says it is considering ways to maximise recovery value
Also, watch out for a company raising money at a very high rate of interest
Sebi regulations required fund houses to cap exposure to such papers at 10% of scheme assets
The nationwide lockdown has impacted the company's cash flow and the firm needs funds for its business continuity and growth over the next 12-18 months, Blue Star said in a regulatory filing
The move comes after the Sebi, Association of Mutual Funds (Amfi), and IDBI trustee moved a Division Bench of the court, challenging the interim order granting protection to Indiabulls.
Piramal Enterprises's (PEL's) Rs 3,000 crore fundraising is through debentures.
The NCDs will be listed on the Wholesale Debt Market segment of the BSE.The finance committee meeting of the company held a meeting on Monday.
Sebi is likely to allow corporate houses to treat unlisted non-convertible debentures as 'term loans'.