UTI Mutual Fund has received the entire payment (along with interest accrued to date) due from Zee Learn Limited on July 14, 2020, in UTI Credit Risk Fund (which had been segregated on July 7, 2020) and UTI Medium Term Fund (which had been segregated on July 7, 2020).
On July 7, 2020 UTI Mutual Fund had created a segregated portfolio in respect of debt securities of Zee Learn Limited in UTI Credit Risk Fund and UTI Medium Term Fund due to the downgrade of such securities below investment grade.
The recovery proceeds, in proportion to investors’ unit holdings, will be credited to investors’ Core Banking Solution (CBS) bank account, if registered in the portfolio, and in the absence of CBS bank account details, the physical warrant will be dispatched once postal / courier services become operational.
