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SC uphelds conviction of Uco Bank officials and Ashwin Mehta in 1992 scam

13 August 2009 To bookmark you need to sign in  0
The Supreme Court, while upholding the Special Court's verdict in the 1992 securities scam, sentenced Uco Bank's former chairman and managing director and general manager to imprisonment.

A bench headed by Justive SB Sinha also sentenced Ashwin and Sudhir Mehta to rigorous imprisonment (RI) for one month and a fine of Rs100,000, each.

While the SC upheld 6 months RI sentence and...
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Foreign institutional investors (FIIs) were allowed to invest in India since 1993. In 2005, Indians were allowed to invest large sums overseas. Global investing may seem new but it is not. Before the Russian revolution, you could hear French investors discuss their Russian bond investments in Paris. Barings, an aristocratic British investment bank, was a big investor in Argentina. Jamshedji...

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RETAIL INVESTORS
If the MF industry relies on corporate money and then claims that it has a large corpus, it is a mistake. Importance of non-corporate investors should be realised. It is in the interest of the industry to have increased investor participation. – CB Bhave, chairman, SEBI

ML View: This could have been straight out of the speeches of the previous three SEBI...
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