Friday, October 2, 1998
No powers to regulate US-64: SEBI
The Securities and Exchange Board of India (SEBI) has expressed its inability to monitor Unit Trust of India's (UTI) US-64 scheme following the recent controversy over US-64's eroded net asset value. The market regulator stated that legally it does not have any regulatory authority over UTI as the Trust has been created under a separate Act of Parliament.
Electrolux forms new JV with Voltas
The Electrolux group, the world's leading household appliances manufacturer, has announced a joint venture in India with Voltas Ltd--Electrolux Voltas Pvt Ltd--for the manufacture of household appliances in the country.
Aviation ministry exhorts cabinet to accept Kelkar advice on IA in toto
The Union ministry has once again insisted on the acceptance of the Kelkar committee recommendations on Indian Airlines in toto. The ministry has said the recommendations of the Kelkar committee are in the form of a total strategy package.
|
|
