Wednesday, November 18, 1998
Banks, institutions corner 60% of Concor shares
Banks and financial insitutions have been alloted over 60 per cent of the nine million shares of Container Corporation of India (Concor), divested by the government. The State Bank of India (SBI), which had bid for two million shares worth Rs 50 crore, has been alloted the entire chunk, thereby, becoming the largest subscriber to Concor's divestment programme.
DCA note moots penalty for buyback norms' violations
The Department of Company Affairs (DCA) has moved a cabinet note for providing a specific penalty for violations of SEBI regulations on buyback, defining interest rates for inter-corporate deposits and limiting the period for claiming unclaimed/unpaid dividends to seven years. The new provisions will be introduced in the Companies (Amendment) Bill, 1998, which is expected to be tabled in Lok Sabha in the winter session, beginning November 30.
NSDL to kick off trading in gilts segment next month
The National Stock Depository Ltd (NSDL) will kick off a separate segment for settlement in government securities from next month. The country's only securities depository will also enhance the list of its participants by admitting three more bourses soon.
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