Tribunal upholds SEBI order against Mallya
March 12, 2021
Indian business man Vijay Mallya leaves the high Court for a lunch break as he appeals against extradition to India to face fraud charges at the Royal Courts of Justice in London, Tuesday, July 2, 2019. Mallya, whose business empire once included Kingfisher beer, left India two and a half years ago after defaulting on debts of more than a billion dollars linked to a failing venture, Kingfisher Airlines.(AP Photo/Alastair Grant) - AP
Indian business man Vijay Mallya leaves the high Court for a lunch break as he appeals against extradition to India to face fraud charges at the Royal Courts of Justice in London, Tuesday, July 2, 2019. Mallya, whose business empire once included Kingfisher beer, left India two and a half years ago after defaulting on debts of more than a billion dollars linked to a failing venture, Kingfisher Airlines.(AP Photo/Alastair Grant) - AP×
In a statement, the Association of Mutual Funds in India (Amfi) said "it fully supports the need and spirit of the circular in capping exposure to perpetual bonds".
Read more about Sebi extends Central KYC Registry to legal entities on Business Standard. Sebi on Wednesday asked regulated entities to upload Know Your Customer data pertaining to accounts of legal entities opened on or after April 1, onto the Central KYC Registry
Mutual funds have been directed to value perpetual bonds bonds on the assumption that these would be redeemed after 100 years essentially leading to steep losses in the near term.