INVESTMENT NORM CHANGES NOT TO COVER MAJOR COS

Article Abstract:

The new inter-corporate investment norms introduced by the Government of India will not cover corporates like Tatas, Hindustan Lever, Reliance and ITC which have a market share of 25 percent and more. The Government has decided to keep an insertion, Section 108 in the Companies Act. Under the section dominant undertakings as defined by the Monopolies and Restrictive Trade practices Act will have to seek the Government's approval for inter-corporate investments. (gs)

Comment:

The new inter-corporate investment norms introduced by the Government of India will not cover corporates like Tatas, Hindustan Lever, Reliance and ITC which have a market share of 25 percent and more.

Corporations

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SEBI SUSPENDS TATIA STOCKS FOR 2 YEARS

Article Abstract:

The Securities and Exchange Board of India (Sebi) has suspended Tatia Stocks and Options (TSO) from transacting in the securities markets for two years from February 18, 1999. The action was taken since Sebi's inquiry revealed TSO's involvement in price manipulation of Paro Leasing and Finance's scrip. The Paro's scrip prices had surged from Rs9.5 to Rs90 in a month's time (Sept-Oct 1995). Sebi has issued a show cause notice to TSO. (um)(psr)

Security brokers and dealers, Securities Brokerage, Stockbrokers, Tatia Stocks and Options

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