April, May redemptions by corporates, banks -- Full probe into US-64 insider trading: Sinha
THE Government has decided to launch a full-fledged independent probe into insider trading on US-64 by top corporates and commercial banks which had redeemed units in April and May this year and also on the investment decisions taken by the UTI managemen t over the last few years.

False trades: 4 broking firms suspended
FOUR brokering firms, two each of the Bombay Stock Exchange and the National Stock Exchange, have been suspended for inserting non-genuine trades last week after the formal launch of derivatives trading. The Securities and Exchange Board of India has als o advised the Calcutta Stock Exchange to investigate and take strict action against two other brokers who were involved in such wanton trading errors.

SAB may bid for UB stake at `right' price
THE $4.18-billion South African Breweries (SAB) Plc has indicated that it is open to talks with United Breweries (UB) Ltd to acquire ``substantial'' stake in the latter at the right valuation. This follows UB's statement last week inviting SAB to bid for minority stake in the company.

UTI officials sweat it out
UNIT Trust of India (UTI) officials were busy working and re-working on the draft proposal to solve the liquidity issue with regard to individual investors in its largest scheme, US-64. The officials, including five Executive Directors and the acting Cha irman, Mr K.G. Vassal, were closeted in long meetings till late evening after the board meeting earlier in the day.

6 cos shortlisted for fourth cell financial bidding
THE Government has shortlisted six companies for participating in the financial bidding for the award of the fourth operator for the Cellular Mobile Telephone Service (CMTS).

LIC to pay Rs 470 cr for Corpn Bank shares
LIFE Insurance Corporation of India will pay Rs 470.40 crore for acquiring 2.4 crore equity shares of Corporation Bank, taking its total holding in the bank to 27 per cent.

No trade in US-64 on DSE
THE special window opened by the Delhi Stock Exchange on Friday to offer liquidity for US-64 investors, stuck by the suspension order announced by the Unit Trust of India on July 2, is not catching up with investors' fancy.

CBI may step in
THE Central Bureau of Investigation (CBI) is expected to step in shortly to probe some of the investment decisions taken by the ousted Chairman of the Unit Trust of India, Mr P.S. Subramanyam, and other senior officials.

Commercial Capital in limbo
A scene in Mumbai on Monday when heavy rains continued to pound the metropolis for the third day throwing normal life out of gear.

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