Covid-19: Sebi gives more time to mutual funds on unlisted debt

The Securities and Exchange Board of India (Sebi) has clarified that the grandfathering of the unlisted non-convertible debentures (NCDs) is applicable across the mutual fund (MF) industry.

Meanwhile, Sebi extended the timelines for reducing exposure to unlisted NCDs in phased manner to September 30, 2020, and December 31, 2020. By September, MFs can bring down exposure to 15 per cent, and 10 per cent by December 31.  In March, the industry had requested extension in light of the coronavirus pandemic.