IL&FS MF's exposure under scanner; firm says in good position to repay dues

The IL&FS group has come under scanner of the Reserve Bank of India (RBI) because of its exposure to group firms and mounting debt burden. However, sources said market regulator Securities and Exchange Board of India (Sebi) may also step in. The bone of contention is IL&FS Infrastructure Debt Fund’s (IDF) high exposure to its own group’s renewable businesses. The IDF, run by IL&FS MF, has more than 30 per cent of AUM in two of its schemes exposed to IL&FS Solar Power and IL&FS Wind Energy (IWEL). The IDF Series 2B has 31 per cent of its AUM exposed to non-convertible debentur.....

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