ICICI Prudential Mutual Fund unveils 367 days fixed maturity plan

ICICI Prudential Mutual Fund new issue closes on 28th April

ICICI Prudential Mutual Fund has launched ICICI Prudential Fixed Maturity Plan-Series 56-1 Year Plan E, close-ended income scheme.

The investment objective of the plan is to seek to generate regular returns by investing in a portfolio of fixed income securities/debt instruments maturing on or before the maturity of the plan under the scheme. The tenure of the plan is 367 days.

The new issue closes on 28th April. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Chaitanya Pande is the fund manager.


Dena Bank settles insider trading case by SEBI with payment of Rs10 lakh

The capital market regulator found the bank was involved in trading of shares of Alka Securities without making adequate disclosures

Mumbai: The Securities and Exchange Board of India (SEBI) has settled and passed a consent order in a case against Dena Bank, on a payment of Rs10 lakh, for alleged violation of insider trading norms.

The case relates to Dena Bank's trading in shares of Alka Securities, allegedly breaching the rules.

"The noticee (Dena Bank) has remitted a sum of Rs10 lakh...this consent order disposes of the said adjudication proceedings...," SEBI said, in passing the consent order, yesterday. In a consent order, the company or person pays the settlement fee without denying or admitting the guilt, reports PTI.

Noticing a sudden spurt in the price and trading volume of shares of Alka Securities, SEBI had conducted detailed investigations in the dealings in 2008-09.
It said that Dena Bank transacted substantially in the shares of the company, but failed to make disclosures as required under the SEBI (Prohibition of Insider Trading) Regulations.

Dena Bank was found to have been involved in these transactions, which involved off-market transfer of shares. The public sector lender was holding 1.36 crore shares in Alka Securities, representing 27.36% of the paid up capital.


MP High Court seeks time-bound plan on Union Carbide waste clean-up

The court said it would examine whether the erstwhile Union Carbide or Dow Chemicals, which later acquired Union Carbide, should be made liable for the reimbursement of expenditure for the clean-up

Jabalpur: The Madhya Pradesh High Court has asked the Centre to furnish a time-bound action plan by 12th May for removing the toxic waste from the Union Carbide factory premises in Bhopal—the site of catastrophic gas leak in December 1984, reports PTI.

“Somewhere, the suffering of the people has been forgotten in the rigmarole of committees, sub-committees and the task forces,” the division bench of justices Sushil Harkauli and Prakash Shrivastava said yesterday.

“It is undoubtedly the responsibility of the Union government, particularly the environment, health and petro-chemicals ministries to get the toxic waste cleared or disposed at the earliest in a best suited manner.”

The bench was hearing a PIL filed by Alok Pratap Singh with regard to the toxic waste lying at the site since the factory closed down.

The court said it would examine whether the erstwhile Union Carbide should be made liable for the reimbursement of expenditure for the clean-up.

Further, the court will also see if Dow Chemicals—which bought Union Carbide—can be treated as its successor in this matter.

But the issue of reimbursement must not come in the way of safe and proper disposal of toxic waste, the court said.

The next hearing would take place on 12th May.


We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)