Taurus MF to approach Sebi on BILT default

The fund house suspends fresh subscription in the affected schemes

The fund house, the latest to have taken a massive valuation hit in its debt schemes, plans to propose possible measures to the regulator, in order to safeguard the interests of its existing unit holders.Taurus Mutual Fund, one of the smallest fund houses in the country, plans to approach the Securities and Exchange Board of India (Sebi) after one of its investments -- Ballarpur Industries (BILT) -- failed to honour the maturity obligation last week.

In a statement, Taurus said, "It is committed to initiating all steps in this regard to ensure that any recovery from BILT will be shared with