HDFC Mutual Fund launches 36 months fixed term plan

HDFC Mutual Fund new issue closes 9th November

HDFC Mutual Fund has launched HDFC FMP 36M October 2011 (1), a close-ended income scheme.

The investment objective of the plans under the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date. The tenure of the scheme is 36 months.

The new issue closes on 9 November 2011. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Miten Lathia is the fund manager.

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DSP BlackRock MF launches 24 months fixed term plan

DSP BlackRock Mutual Fund new issue closes 14th November

DSP BlackRock Mutual Fund has launched DSP BlackRock FTP-Series 1-24M, a close-ended income scheme.

The primary investment objective of the schemes is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the schemes. The tenure of the scheme is 24 months.

The new issue closes on 14 November 2011. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

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Tata Motors’ appeal assigned to new division bench of Calcutta HC

Appearing for West Bengal government’s industries department, senior counsel Kalyan Banerjee told the division bench comprising justice Sengupta and justice Bagchi that it did not have jurisdiction to hear the case

Kolkata: The chief justice of the Calcutta High Court on Tuesday assigned the appeal of Tata Motors (TML) challenging a trial court order upholding constitutionality of Singur Land Act to a new division bench after the state questioned whether an earlier bench had jurisdiction to hear the case, reports PTI.

Chief justice JN Patel assigned the TML appeal challenging the Singur Land Rehabilitation and Development Act, 2011, to a division bench comprising Justice Pinaki Chandra Ghosh and Justice Mrinal Kanti Chaudhuri.

TML had earlier moved the appeal and another application seeking extension of the stay on the single bench order before the division bench comprising justice KJ Sengupta and justice Joymalya Bagchi.

TML is likely to move the bench on Wednesday as justice I P Mukerji, while passing the order on 28th September, gave an unconditional stay till 2nd November.

The division bench presided by justice Sengupta referred to the chief justice the appeal by TML challenging the earlier order validating the Singur Act after the state questioned whether it had jurisdiction to hear the case.

Appearing for West Bengal government’s industries department, senior counsel Kalyan Banerjee told the division bench comprising justice Sengupta and justice Bagchi that it did not have jurisdiction to hear the case.


Mr Banerjee claimed that the appeal challenging the validity of the Singur Land Rehabilitation and Development Act 2011 should be heard by another bench presided by justice Pinaki Chandra Ghosh as such matters relating to challenge of validity of an act were under his jurisdiction.

Appearing for Tata Motors, barrister S Pal submitted that the bench headed by justice Sengupta had concurrent jurisdiction and could hear the appeal like all others and as such there was no question of lack of jurisdiction.

Hearing both the parties, the bench decided to refer the matter to chief justice JN Patel to clarify whether it had jurisdiction or not to hear the matter.

TML has challenged the order of justice IP Mukerji, who upheld the constitutionality of Singur Land Rehabilitation and Development Act, 2011, by which West Bengal government vested the land leased to the company at Singur, before the division bench.

The court had, after passing the order on 28th September, given an unconditional stay of the judgement till 2nd November to allow any aggrieved party to file an appeal, if it so desired.

Tata Motors, which was to set up its Nano car plant at Singur, had moved to Sanand in Gujarat in 2008 citing law and order problem.

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