Review of provisions of the circular dated September 24, 2019 issued under SEBI (Mutual Funds) Regulations, 1996 due to the COVID - 19 pandemic and moratorium permitted by RBI.

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..... s/ Boards of Trustees of Mutual Funds/ Association of Mutual Funds in India (AMFI) Sir / Madam, Sub: Review of provisions of the circular dated September 24, 2019 issued under SEBI (Mutual Funds) Regulations, 1996 due to the COVID - 19 pandemic and moratorium permitted by RBI. 1. Currently, Valuation agencies appointed by AMFI recognize default of security in terms of Clause 5.1.1.2 .....

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..... agencies may not consider the same as a default for the purpose of valuation of money market or debt securities held by Mutual Funds. 4. However, in the scenario as stated above, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted. 5. The above modification to our circular dated September 24, 2019 shall .....

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