The Indian Express -- Business

Tuesday, July 15 1997

FOREX RATES INDICES STOCK

SC bans Mafatlal share transfer

In a special leave petition filed by Mafatlal Industries against Miheer Mafatlal, the Supreme Court has ordered that the disputed shares from the 1987 rights issue should not be transferred to third parties without the leave of the court.

SEBI instructs SEs to limit broker exposure

In a bid to ensure safety in the market operations, the Securities and Exchange Board of India (SEBI) has asked the stock exchanges to work out the modalities for placing a gross trading exposure limit on brokers on the lines of the practice currently adopted by the National Stock Exchange. SEBI has also directed the Calcutta Stock Exchange (CSE) to immediately collect margins worth Rs 6 crore due from members.

FIs to challenge charge-sheet on ITC

Financial institutions (FIs) are planning to challenge the Enforcement Directorate's (ED) move to charge-sheet their nominees on the board of ITC Limited for alleged FERA violations of $ 114 million. Apart from challenging the ED's move in court, FIs may also contemplate withdrawing their nominees in various companies in which they do not have much exposure. This has already been done by ICICI as part of its recent code on corporate governance.

Shares crash on selling

RBI told to form cover for NBFC deposits

Centre bid to bail out UCO Bank

DMK move pulls down stocks

Ministry for cap on rating agencies

Gold crash dents forex reserves

RBI bans two Helios group cos

Hudco plans to raise Rs 500 cr