Delhi police have arrested a director of the Kuber Group of finance companies, which had allegedly misappropriated crores of rupees collected through its various schemes from investors. Crime branch police arrested Mukesh Mohan Sharma, brother of company chairman Pradyumna Kumar Sharma, yesterday and produced him in the court of metropolitan magistrate Manoj Jain, who remanded him to two day's police custody.

PSI Data set to stage good H1 show

An encore is likely from PSI Data Systems Ltd. For the financial year ended December 31, 1998, the Bangalore-based company posted an impressive net profit growth of 165 per cent from Rs 1.72 crore to Rs 4.57 crore (excluding the extraordinary item of Rs 1.4 crore). For the first-half of the year ended December 1999, good results are expected for PSI.

Sebi nod for Churiwala Securities

Churiwala Securities Pvt Ltd, on Wednesday, obtained approval from the Securities and Exchange Board of India as depositoryparticipant of Central Depository Services (India) Ltd. The depository operations will supplement the stock broking activity. and will commence with immediate effect.

Polaris IPO likely at Rs 210

Polaris Software is likely to charge a premium of Rs 200 for its proposed IPO. The highest-priced software public issue in recent times will open for subscription on August 4, according to a market source.