A bird flies past the new logo of the Securities and Exchange Board of India (SEBI) at its headquarters in Mumbai, India, April 19, 2023.
REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsOct 17 (Reuters) - India's markets regulator and its central bank are investigating about a dozen cases of alternate investment funds (AIFs) allegedly being used to circumvent regulations, including "evergreening" of stressed loans, according to three sources with direct knowledge of the matter.
The central bank has initiated enquiries into these cases, according to the first and third sources.
In other cases under investigation, AIFs have been used to evade caps on foreign investment in certain sectors, the first and third sources said.
Priority payouts are when an investment is split into senior and junior tranches based on the risk and priority of payout.
Persons:
Francis Mascarenhas, Ananth Narayan, AIFs, Jayshree, Jamie Freed
Organizations:
Securities and Exchange Board of India, REUTERS, Securities, Exchange Board of India, Reserve Bank of India, AIFs, Thomson
Locations:
Mumbai, India