Thursday, November 12, 1998
Unit Trust to file plea for compensation from Lever
The Unit Trust of India (UTI) has decided to file a petition before the Mumbai high court seeking compensation from Hindustan Lever (HLL) in the insider trading case. Sebi had directed HLL to pay a compensation of Rs 3.04 crore to UTI for the notional loss suffered by it.
Ministry gets uptight on expenses, tightens state firms' purse-strings
The finance ministry, in a stringent directive to all public-sector units (PSUs), has urged expenditure cuts, demanded accountability, and imposition of freeze on recruitments. This is part of a communique on guidelines on expenditure management - fiscal prudence and austerity.
Fema, money-laundering bills' may ignore "common" offences
The finance ministry is planning to considerably soften and finetune certain crucial provisions of the prevention of money laundering bill (PMLB) and foreign exchange management bill (Fema) to offset the fears expressed by the industry.
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