Sandeep Singh

Articles By Sandeep Singh

HDFC Mutual Fund to take mark down of 37% over its exposure to HREL

The delay in receipt of annuity does not hamper the capability of HREL servicing the payment obligation of Rs 52.7 crore due on 14th April 2019 with the available cash of Rs 83 crore.”

Two Essel firms were in red, but top mutual funds lent them Rs 960 crore

While Reliance MF said it will not comment on individual investments, HDFC MF and Kotak MF said their investments in the two Essel Group firms were backed by the collateral of Zee shares.

Despite SC order on RBI circular, bad loan resolution under IBC to continue

The government expects the bad loan resolution to continue under the IBC, while the Reserve Bank comes out with revised rule that specifies the framework under which it can direct banks to push cases for insolvency resolution.

Explained: Should debt mutual funds investors worry?

Two mutual fund houses have acknowledged exposure to securities of troubled group firms. How such schemes work, the risk they sometimes carry, and what has happened to raise investors’ concerns

Explained: Debt funds are supposed to be ‘safe’. So, why is there concern now?

While banks are already facing a crisis of NPAs on account of default by a number of corporate entities including large companies, the news of mutual funds having exposure to such companies has alarmed investors in mutual funds.

Stuck with huge exposure to IL&FS Transportation and Essel Group, Kotak MF sends SoS to investors

Investors of Kotak FMP Series 183 were told that almost 27% of the scheme corpus of Rs 457 crore is invested in three troubled entities facing liquidity crisis.

Insolvency resolution framework for individuals set to be issued shortly

As the Insolvency and Bankruptcy Board of India (IBBI) has already finalised the norms for individual bankruptcy resolution in case of personal guarantors, the government is expected to notify these within a month, sources familiar with the matter said.

Strong FPI inflows, $5 billion liquidity boost push forex reserves to 10-month high

The previous high was Rs 30,906 crore in March 2017. After taking into account the Rs 13,000 crore investment in the debt market, the total FPI inflow for March so far works out to Rs 43,450 crore.

Mother Dairy invested Rs 190 crore in IL&FS, sent SOS to PM after default

These investments happened at a time when the IL&FS Group’s debt woes were in the public domain and the IL&FS group was busy selling its assets to raise funds to honour its debt repayments.

Raising funds tough for lower-rated firms as credit costs increase sharply

Sources said heavy borrowings by public sector companies and aversion in bank lending to non-banking finance companies (NBFCs) are other reasons liquidity remains an issue for lower-rated companies.

‘Piramal, Baring PE in talks to acquire majority stake in DHFL’

Earlier this month, DHFL chairman and MD, Kapil Wadhawan had said that the company has engaged with large potential entities to identify and on-board the right strategic partner and are in advanced stages of discussions to achieve the same over the next 90 days.

No takers for job of independent director in IL&FS companies

As many as 77 positions are vacant and there are few takers. Most of these positions fell vacant after a slew of resignations by directors following the IL&FS debt default crisis in September 2018.

February-March FPI inflows of Rs 46,000 crore keep rupee and equities on a high

Between February 1 and March 22, 2019, the FPIs have pumped in a net of Rs 46,000 crore in the Indian equities.

‘I would say that I did not get a fair trial … but now the legal course is done’

Speaking to Sandeep Singh ahead of his book release, Gupta maintains that he did not get a fair trial.

Markets expect RBI to continue bond buying to support heavy borrowing

From 1 April 2016 onwards, the Central government excluded states and union territories – except Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh – raising funds from NSSF.

Infra push leads to surge in bank credit, reverses 2-year trend

According to Reserve Bank of India data, bank credit outstanding to the infrastructure sector rose by over Rs 95,000 crore or 10.8 per cent between April 2018 and January 2019 to Rs 9.86 lakh crore.

$5 billion currency swap window will push down rates on high rupee liquidity

The rub-off effect of this move, along with benign inflation forecast and slowing industrial growth, will nudge the RBI Monetary Policy Committee to cut interest rates further in the policy review next month.

If developers don’t complete projects, then the Authority will get them completed: Rajive Kumar, UPRERA

Having started work in September 2018, Kumar told Sandeep Singh that the team has been able to solve around 2,500 cases in almost six months, taking the total number of resolutions to over 4,800 now.

‘Sebi open offer norms to safeguard interest of minority shareholders’

Sebi has discontinued automatic exemption in respect of persons other than lenders, from making open offer for acquisitions under debt restructuring schemes.

14 ex-directors of IL&FS get notice for laundering, fraud, payoffs

The charges include specific instances of directors of a borrower entity, who also happened to be directors of IL&FS group companies, and a case where a large portion of the loan given to a company was later transferred into the account of its directors.