 "File photo of Subhash Chandra")
Shares of Essel group companies fell 2-10 per cent on Wednesday on worries about its stake sale getting delayed. Meanwhile, Reliance Mutual Fund (MF) unwound its loan-against-shares (LAS) exposure to the group. Sources said the fund house recovered over Rs 400 crore of its debt exposure by liquidating the promoters’ pledged shares held as collateral.
While the group is seeing some pressure from the lenders to expedite its stake sale process, Punit Goenka, MD & CEO of Zee Entertainment, said it was on and would be finalised in six-eight weeks.
Sources said Reliance MF had decided to stay away from
