Is it true that Indian mutual funds are selling bonds of corporates in the market?

Mutual funds are actually selling bonds heavily in the market where they any sign of stress. This situation has aggravated after the Templeton decision to wind down six of its schemes. Even bond issued by government-backed lenders like PNB, Andhra Bank and Canara Bank were traded in the past few days at yields of over 12.5%. Mutual funds have been struggling with redemptions, especially from corporate clients and institutions who do not want to take chances with debt funds at this point of time. Most MFs feel it is best to cut less liquid securities first when expecting further redemptions. But spreads are soaring.