Q.3 What are the special situation funds (SSFs)? How will SSF’s full participation across the entire spectrum of the secondary market for corporate debt help deal with the issue of bad debt? (10 Marks)

Mentor’s comment- https://indianexpress.com/article/opinion/columns/why-special-situation-funds-are-necessary-7821566/ In the intro, mention the issue of NPA in India. In the body, describe the SSFs. In the benefits mention liquidity, less haircut to the debtor, less provisional capital etc. Conclude by mentioning that ┬áthe introduction of SSFs promises to usher in a modern era of distressed debt investing in India.