The Financial Express -- News

Wednesday, December 3 1997

Goldman Sachs nominees to monitor ventures with Kotak

Goldman Sachs, the UK-based investment banking major, has deputed two representatives to oversee the day-to-day operations of its two joint ventures with Kotak Mahindra -- Kotak Mahindra Capital Company and Kotak Mahindra Securities Ltd. The move to more closely monitor the operations of the two companies comes even as Goldman Sachs is pressing for raising its stake from 28% to 40%.

UTI's money market fund mop-up crosses Rs 100 crore

Seven months after the launch of its money market mutual fund, Unit Trust of India has seen the net corpus of the scheme cross the Rs 100-crore mark for the first time last week. The fund, operated as an alternative to short-term fixed deposits in banks coupled with regular withdrawals, has resulted in a lower net figure of Rs 100 crore.

SOL Pharma to seek shareholders nod to go back on dividend move

SOL Pharmaceuticals Ltd (SOL) has proposed to nullify its earlier decision to pay a 30% dividend to its shareholders for the accounting year 1995-96. Company sources said SOL has been facing a severe liquidity crisis which forced it to suspend the operations intermittently.

Crisil assigns AA+ to ICI debt plan

Bankers divided over hike in reserve ratio