Investment limit for provident and pension funds expanded to permit private company bonds with dual credit ratings The amendment permits trustees of approved provident, superannuation and gratuity funds to invest a sub portion of their authorised investible moneys in bonds or securities of non public companies that have investment gradings from two or more registered credit rating agencies; this investment permission is an additional proviso to the existing pattern of investments and is effective from 1 April 1998.
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.
Investment limit for provident and pension funds expanded to permit private company bonds with dual credit ratings
The amendment permits trustees of approved provident, superannuation and gratuity funds to invest a sub portion of their authorised investible moneys in bonds or securities of non public companies that have investment gradings from two or more registered credit rating agencies; this investment permission is an additional proviso to the existing pattern of investments and is effective from 1 April 1998.
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