Essel Group promoter Sold the Shares of ZEE to Refunding for Lenders:
The Zee Entertainment Enterprises shares sold by the promoters of the Essel group. Due to the Essel group refunding the amount to HDFC Mutual Fund, ICICI Prudential Mutual Fund, and Aditya Birla SL Mutual fund.
HDFC Mutual Fund obtained Rs 167 crores as a refunding amount also with interest. The debit amount of Rs 13.7 crores decreased from Rs 1,156 crores by the excellent revolution of the HDFC Mutual fund.
The refunding amount of Rs 267 crores with interest obtained by the ICICI Prudential AMC and Aditya Birla Sun Life MF collected Rs 840 crores.
On 31st March 2019, the market value debits of Rs 1,156 crores decreased to Rs 13.7 crores on 26th Nov 2019, due to this refunding amount. It enclosed with the Dish TV India Ltd shares.
The Essel Group exhibits the 2 open-ended funds of ICICI Prudential MF. And it utilizes the ZEE stocks as security purpose.
The ICICI Prudential MF invested the total collected refunding amount from the Essel in the ZEEL. Due to the ZEEL promoters selling their shares. Thereafter, anyone of the ICICI Prudential Mutual Fund schemes doesn’t invest in any debt instrument issues from the ZEEL promoters.
The Essel group company fail to pay on refunding amount to the 3 funds of the Aditya Birla Sl Mutual Fund. The Adilink Infra and multi trading company sorted by the Aditya Birla SF Mutual Fund with Rs 787 crores. Due to the unsecured document issued by the company.