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July 20, 2001
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Money > Business Headlines > Report July 20, 2001 |
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Retired SC judge may head UTI probeBS Economy Bureau The government is likely to appoint a retired Supreme Court judge to head the independent probe on Unit Trust of India's functioning over the last 5-7 years. According to top government officials, finance minister Yashwant Sinha will announce the terms of reference of the probe within the first few days of the monsoon session of Parliament. Sources said the terms of reference of the probe included issues like private placement of equity with UTI and if such deals were consummated in the best commercial interests of the Trust. Besides, the enquiry would also delve into insider trading which led to large-scale redemption of US-64 units in April-May. The independent enquiry would also look at the circumstances, which led to the UTI board suspending the sale and repurchase of US-64 units. The Trust's operations during the stock market upheaval in March this year will also be probed, sources said. Powered by YOU MAY ALSO WANT TO READ:
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