HDFC MF weighs paying partial proceeds to fixed maturity plan investors

Earlier, the fund house had extended the maturity date of one of its schemes that had exposures to Essel group companies

The country’s largest fund house — HDFC Mutual Fund (MF) — has informed unitholders on how it plans to deal with fixed maturity plans (FMPs) exposed to Essel group and that it is engaging with the National Company Law Appellate Tribunal (NCLAT) on exposure to Hazaribagh Ranchi Expressway (HREL) — the special purpose vehicle that belongs to Infrastructure Leasing & Financial Services (IL&FS) group.

“HDFC MF continues to make legal representations at the NCLAT to lift the moratorium imposed on ‘Amber’ companies so that the investors’ interest is protected,” the fund house said. It added that it is taking another 12