Monday, June 1, 1998
Appellate authority sore over UTI's higher compensation claim in SEBI-Lever row
The appellate authority in the finance ministry hearing the Hindustan Lever Ltd (HLL) insider trading case has expressed displeasure over the manner in which Unit Trust of India (UTI) has sought a hike in the compensation granted to it by SEBI. The authority, which concluded its hearings in the case on May 30, will deliver its verdict in due course.
SEBI unmoved by chambers' plea on quarterly disclosure
SEBI has decided not to entertain the pleas of industry chambers seeking a stay on the regulator's directive asking all listed companies to furnish quarterly unaudited results. Apart from the fact that continuous disclosures are important to investors, SEBI officials feel that it is rather strange that the chambers are raising a hue and cry on this issue when each one of them was represented on the Bhave Committee which had framed the guidelines for continuous disclosures.
Hessian exchange to police jute mills
The directors of East India Jute & Hessian Exchange plan to check the financial positions of jute mills, regularly and also bring in certain changes to its bye-laws to protect the buyers from unscrupulous and fly-by-night jute mill owners. The move was prompted by reports that a number of buyers had expressed concerns over the status and credibility of the jute mill owners, thereby adversely affecting trade.
|
|
