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UTI shoves more onto its fund managers’ plate
Unit Trust of India has decided to make its U fund managers responsible for market operations involving the portfolios of investments under their care. The UTI Chairman, Mr. G.P. Gupta, told Business Line here today that if the fund manager was also involved in the day-to-day market operations, he would be able to exercise better control. This move will also help the management monitor the performance of these schemes better, Mr. Gupta added. Consequently, UTI has ‘reconstructed’ its entire fund management and market operations department.
SC bar on courts on ULFA funding cases
The Supreme Court on Friday prohibited all courts in the country, including high courts, from entertaining any matter relating to the funding of militants in Assam. The prohibition order was imposed by a division bench comprising Mr. Justice M.K. Mukherjee and Mr. Justice K.T. Thomas, while setting aside the anticipatory bail orders of the Mumbai High Court to four top executives of Tata Tea company, allegedly involved in funding ULFA militants in the State, and transferred their bail applications from the Mumbai court to the Guwahati High Court for disposal.
No new tech, models till dispute is resolved: Suzuki
Suzuki Motor Corporation (SMC) will not introduce new models and technology in Maruti Udyog Ltd (MUL) till its dispute with the Indian Government is settled, the company’s Chairman, Mr. Osamu Suzuki, said here. Asked about his perception over fears that SMC would not introduce new cars in India pending a solution to the dispute over the appointment of Mr. R.S.S.L.N. Bhaskarudu as the MUL Managing Director, Mr. Suzuki said: “I completely agree with the fear.”
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