Investors’ Action

 

"No Sunshine in Autumn" (MoneyLIFE, 28 February 2008) seems to suggest that fighting the unilateral termination of the Senior Citizens’ Unit Plan (SCUP) is unlikely to achieve much. I beg to disagree. The question is ‘Do investors have a case against UTI MF?’ The answer is an emphatic ‘YES’ for the following reasons:

  1. UTI got converted into UTI MF and all assets and liabilities...
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  • Legal action: SCUP

    Legal action: SCUP
    We propose to file a case in the National Consumer Disputes Redressal Forum against the scrapping of the Senior Citizen’s Unit Plan by UTI MF. For this, we need to have the numbers to make the litigation cost effective - also when many people are affected, the case is expedited on a priority basis.|

    If we do not file the case, UTI will have set an unhealthy precedent of...

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  • Drop the amendment

    Refer to “Media Masochism” (Letter from the Editor, MoneyLIFE March 27). At present, before levying a penalty under section 271 (1), the IT officer is required to record the reasons for believing that there is a wilful misrepresentation by the assessee - a detailed statement on the reasons has to be noted in the files. The same may be considered by higher authorities, including courts for...

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