MUMBAI, Mar 13: Financial institutions (FIs) have expressed concern over the Securities & Exchange Board of India's (Sebi's) indictment of Hindustan Lever Ltd on charges of insider-trading in Brooke Bond Lipton India Ltd (BBLIL) shares.``This is a serious matter,'' said an FI chief, adding that the institutions will take a view on this shortly.
The institutions are awaiting a copy of Sebi's judgement.
The FIs, which have exposures by of equity and debt in the company, are expected to hold a joint meeting to decide on a course of action, sources said.
General Insurance Corporation, Life Insurance Corporation, and Unit Trust of India together hold 15 per cent stake in the company.
Unilever holds 51 per cent in HLL, while foreign-institutional investors (FIIs), mutual funds and the public hold about 34 per cent.
Meanwhile, the FIs are unfazed by the Indal independent committee's suggestion of asking its shareholders to reject Sterlite Industries' open offer to acquire 20 per cent stake in thedomestic aluminium-maker.
``We will go by our own institutional committee's evaluation and recommendation over the issue,'' the FI chief said.
The committee can at best use the Indal panel report as one of the inputs, said sources. The FIs are awaiting a revised offer from Sterlite against Alcans offer of Rs 105 a share, before deciding on a course of action. The Sterlite offer is expected to be made next week, the sources said.
