Business Standard

Only mutual fund to file cases, erstwhile UTI sees some recoveries

The biggest defaulter is Maharashtra-based Malvika Steel

mutual funds

Sachin P Mampatta Mumbai
The oldest mutual fund in the country, undivided UTI, is also the only one to figure on the list of institutions that have filed cases against wilful defaulters.

The fund house has 27 cases with Rs 252.6 crore outstanding, according to data from TransUnion Cibil, which maintains a database of such cases.

This is based on accounts where defaults are of Rs 1 crore or more. The cases show a significant drop from 5 years ago.

There were 90 cases of Rs 848.8 crore at the end of 2014. This came down by around a third as of December 2018. 


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First Published: Mar 28 2019 | 11:25 PM IST

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