MUMBAI: The governing board of the Bombay Stock Exchange, at its meeting convened on December 21, has once again identified two brokers who would be declared defaulters for non-fulfilment of financial obligations. It has asked one broker, Mahendra C Babu, to repay his dues of Rs 90 lakh worth of shares arising out of bad delivery introduced on the exchange. It has also identified that SN Tara, who had been accused of rigging BPL, Sterlite and Videocon share prices has an outstanding liability of about Rs 47 lakh.

UTI offers demat for 3 schemes

MUMBAI: The Unit Trust of India (UTI) has entered into an arrangement with the National Securities Depository Ltd (NSDL) to offer dematerialisation facility for Mastershare '86, Mastergrowth '93 and Grandmaster '93. These three schemes have a combined corpus of Rs 1,378 crore. The facility to dematerialise these units is available from December 21 onwards.

Nabard directors posts lying vacant

MUMBAI: The financeministry is yet to fill in the posts of five professional directors on the board of Nabard, the bank's annual report states. This is in addition to the post of chairmanship which has been lying vacant since June 1998 when P Kotaiah retired.

Task force to detect Modvat misuse

NEW DELHI: The Union government has set up a high-level nine-member special task force headed by the director general (anti-evasion) central excise RK Chakrabarti to detect the growing misuse of Modvat and suggest ways to counter it.