 "Mutual Fund investments")
UTI Mutual Fund (MF) has received the dues from Zee Learn (ZLL) after the fund house had side-pocketed the exposure to the Essel Group company last week.
In an exchange note, ZLL disclosed that the balance amount was paid to UTI MF by Zee Entertainment Enter-prises (ZEEL) and that “they were in the process of acquiring the non-convertible debentures (NCDs) subject to necessary paperwork and legal approvals.”
The fund house had decided to segregate its exposure to ZLL after CARE Ratings downgraded the NCDs to below investment grade on the likelihood of default on NCD payments on the maturity date of July
