really ?
http://www.livemint.com/Money/7uX5KqlxAMnKxrCFU7ghjM/India-to-tighten-mutual-fund-redemption-rules-after-Amtek-cr.html
JPMorgan in September sought approval from investors in the two funds to separate the troubled debt from other investments, a move that would help it lift the restrictions on redemptions. Amtek Auto’s bond, which matured later that month, was the biggest holding in the Short Term Income Fund, making up 15% of assets on 31 July, data compiled by Bloomberg show. The security was among the top 10 holdings of India treasury fund.
The company saw its bonds score cut to C by Brickwork Ratings India Pvt. The agency on 7 October lowered it further to default, citing coupon delays. The regulator may order rating companies to explain the reasons before suspending ratings, Sinha said.
“We are looking at what are the situations where you can suspend ratings, and how to convey that message to the market transparently,” he said. “Sudden withdrawal of ratings don’t convey anything to bondholders
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