https://www.businessinsider.in/indi...ual-funds-defer-dues/articleshow/68831689.cms April 15th is the big day, if they really roll-over, it means total shadow banking collapse in India is at the door step and expect Oil to plummet... Two biggest consumers are India and China, both in serious limbo... Oil Plummets again, end of cycle. Oil has a fascinating bounce before every recession dating to 75 With IL&FS collapse late last year and the shock waves it sent in India Credit Markets, it seemed it was the beginning of the system unravelling... The shadow banks, non-banking financial companies and mutual funds, which had lent money to IL&FS and Essel Group to stand have their backs broken by the massive unpaid dues. IL&FS had a debt of $13 billion when it defaulted on some of it. About 10 fund houses had lent to 16 companies belonging to Essel Group with the promoters' shares as security. To their surprise, the fund managers found out later that some of those shares were already pledged to other lenders. On Monday, Kotak Mutual Fund informed its investors that it would not be able to redeem the securities held by the investors because one of its loans, to the struggling Zee Group has soured. The borrower has sought additional time to repay the debt, and the investors who had trusted their savings with the fund have become collateral damage. HDFC Mutual Fund, the country’s largest, said it would roll over one of its fixed maturity plans, which is due for redemption on April 15. However, this financial services major that manages billions of people's wealth, has given the payment delay an ironic twist. “The purpose of rollover/ extension is due to current interest rate scenario and portfolio positioning, the yields prevailing in the short maturity bucket present an option for investors to lock in their investments at current prevailing yields,” HDFC MF told its investors. "Extensions are not possible unless the investors agree. Something like 75% of the investors in that particular scheme have to agree to a rollover. Otherwise a close-ended debt fund has to mature and the money has to be given," Ananth Narayan, professor of finance at SP Jain Institute of Management and Research, told a television channel.