UTI Mutual Fund (MF) has taken objection to IL&FS group officials’ proposal that lenders should take 42 per cent haircut on their exposure to the group’s special purpose vehicle — Jorabat Shillong Expressway (JSEL). <\/p>\n
“UTI MF has strongly objected to the proposal shared as it completely ignored the sponsor undertaking and differentiation between secured and unsecured lenders,” the fund house said in an investor note. <\/p>\n
The note pointed out that the haircut was proposed when the fund house met IL&FS officials to discuss how JSEL’s classification can be changed from ‘amber’ entity. <\/p>\n
‘Amber’ entities are those entities that are not able to meet all their obligations (financial and operational), but can meet only operational payment obligations and obligations to senior secured financial creditors.<\/p>\n","protected":false},"excerpt":{"rendered":"
UTI Mutual Fund (MF) has taken objection to IL&FS group officials’ proposal that lenders should take 42 per cent haircut on their exposure to the group’s special purpose vehicle — Jorabat Shillong Expressway (JSEL). “UTI MF has strongly objected to the proposal shared as it completely ignored the sponsor undertaking and differentiation between secured and unsecured lenders,” the fund house said in an investor note. The note pointed out that the haircut was proposed when the fund house met IL&FS officials to discuss how JSEL’s classification can be changed from ‘amber’ entity. ‘Amber’ entities are those entities that are not […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-296106","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/296106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=296106"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/296106\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=296106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=296106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=296106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}