8 schemes of ABSL Mutual Fund receive part payment from IL&FS’ SPV

Aditya Birla Sun Life Mutual Fund has received payment towards overdues against exposure in special purpose vehicles (SPV) of crisis-hit IL&FS, ETNOW reported quoting sources.

The mutual fund house received an overdue amount of Rs 114.50 crore.

“Eight schemes have received part payment,” the report said.

Jharkhand Road Projects and Implementation Company Ltd are the SPVs. They were moved to “Green” from “Amber” by The National Company Law Appellate Tribunal.

“Green”, “Amber” and “Red” are categories of companies based on their ability to meet payment obligations over the next 12 months.

Companies that are able to pay all payment obligations are “green”, companies only able to meet operational payments and senior secured debt obligations are “amber” and those that are unable to meet obligations to even senior secured financial creditors are categorised as “red”.

ETNow also added that the regular debt servicing of bonds to start henceforth.


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