Tuesday, November 17, 1998
UTI to move HC on HLL insider trading by Dec 7
The Unit Trust of India (UTI) has said that it will file a writ petition within three weeks before the Mumbai High Court challenging the Appellate Authority's July 14 order which had struck down the Securities and Exchange Board of India (SEBI) directive to Hindutan Lever Ltd to compensate UTI with Rs 3.04 crore in the insider trading case.
Shell pulls out of BPCL refinery
Oil major royal shell has withdrawn from the proposed Rs 10,000 crore joint venture refinery project with the state-owned Bharat Petroleum (BPCL) in Uttar Pradesh. Shell has withdrawn from the joint venture UP refinery project due to commitments to invest funds in other areas of the petroleum sector.
Century Textiles declares lockout
B K Birla-owned, Century Textiles and Industries Ltd, has suffered a major setback with the management declaring a lock-out at its Century Pulp and Paper division, including at the division's bagasse unit at Lalkua in Uttar Pradesh.
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