UTI Mutual Fund on Thursday mentioned it has acquired all its dues from Zee Learn Limited after the fund home segregated its publicity to the corporate.
In a press release, the fund home mentioned it “has received the entire payment (along with interest accrued to date) due from Zee Learn Limited on July 14, 2020”.
UTI Mutual Fund, on July 7, segregated portfolio in respect of debt securities of Zee Learn in its two schemes — UTI Credit Risk Fund and UTI Medium Term Fund — because of the downgrade of such securities beneath funding grade.
The two schemes collectively had an publicity of about ₹44 crore to Zee Learn.
The restoration proceeds, in proportion to traders’ unit holdings, shall be credited to traders’ core banking answer (CBS) checking account, if registered within the portfolio, the fund home mentioned.
It additional mentioned that within the absence of checking account particulars, the bodily warrants shall be dispatched as soon as postal companies develop into operational.
“This repayment shows our commitment towards our investors and we will continue our efforts in the best interest of the unit holders of our schemes,” the fund home mentioned.
This story has been printed from a wire company feed with out modifications to the textual content.