Classification of FII investments in debt mutual funds as corporate debt restricts further corporate debt investments until compliance. SEBI directs that FII and sub account investments in debt oriented mutual fund units be treated as corporate debt and counted within the corporate debt ceiling; accordingly, no further investment or rollover in corporate debt is permitted until aggregate holdings comply with the corporate debt limit. SEBI also cancels separate 100% debt FII allocations, makes unutilized government securities/T bill limits available on a first come first serve basis with 15 day validity, and requires custodians to reclassify and nullify prior equity reports for such mutual fund transactions on the prescribed reporting date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Classification of FII investments in debt mutual funds as corporate debt restricts further corporate debt investments until compliance.
SEBI directs that FII and sub account investments in debt oriented mutual fund units be treated as corporate debt and counted within the corporate debt ceiling; accordingly, no further investment or rollover in corporate debt is permitted until aggregate holdings comply with the corporate debt limit. SEBI also cancels separate 100% debt FII allocations, makes unutilized government securities/T bill limits available on a first come first serve basis with 15 day validity, and requires custodians to reclassify and nullify prior equity reports for such mutual fund transactions on the prescribed reporting date.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
