Guarantee Scheme for Corporate Debt (GSCD) approved - Debt raised/ to be raised by Corporate Debt Market Development Fund (CDMDF) for the purpose of providing guarantee cover. - G.S.R. 559 (E) - Indian Law
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Guarantee scheme for corporate debt enables guaranteed borrowing by a market stability fund during market dislocation. The Central Government approved the Guarantee Scheme for Corporate Debt (GSCD) under which GFCD, managed by NCGTC, provides full guarantee cover for borrowings of the Corporate Debt Market Development Fund (CDMDF) in times of market dislocation. CDMDF, a SEBI regulated AIF funded by specified debt mutual funds and AMCs, may leverage its corpus to purchase investment grade corporate debt subject to prudential issuer limits, a loss absorption waterfall that prioritizes first loss by selling MF schemes and contributors, and operational controls including SEBI triggers, trustee governance, reporting, and a guarantee fee payable by Member Lending Institutions.
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.
Guarantee scheme for corporate debt enables guaranteed borrowing by a market stability fund during market dislocation.
The Central Government approved the Guarantee Scheme for Corporate Debt (GSCD) under which GFCD, managed by NCGTC, provides full guarantee cover for borrowings of the Corporate Debt Market Development Fund (CDMDF) in times of market dislocation. CDMDF, a SEBI regulated AIF funded by specified debt mutual funds and AMCs, may leverage its corpus to purchase investment grade corporate debt subject to prudential issuer limits, a loss absorption waterfall that prioritizes first loss by selling MF schemes and contributors, and operational controls including SEBI triggers, trustee governance, reporting, and a guarantee fee payable by Member Lending Institutions.
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