NATIONAL Damodaran quits UTI MF, UTI-I, to focus on IDBI M Damodaran has quit as the chairman and managing director of UTI Mutual Fund and administrator of UTI-I to concentrate on his activities with Industrial
Development Bank of India (IDBI).
Investors' interests will be protected: Anil Ambani Reliance Industries Vice-Chairman Anil Ambani, embroiled in a tussle with his elder brother Mukesh over the control of Reliance empire, today (Dec 19, 2004) assured investors that their interest will be protected and "whatever" happens in future will be "good'.
RIM assails 'vilification campaign' against Mukesh Amid a proxy war between the two Ambani brothers over control of Rs 90,000 crore Reliance Empire, Mukesh Ambani-controlled Reliance Infocomm today (Dec 19, 2004) said it had invested over Rs 14,000 crore towards rolling out the largest information and communication infrastructure and dismissed allegations of huge bad debt as "canard as part of vilification campaign".
S&N acquires 17.5 % stake in United Breweries Ltd The board of United Breweries Ltd (UBL) today (Dec 19, 2004) approved a transaction with Scottish and New Castles Plc (S&N), under which the latter will receive 17.5 per cent of UBL's equity by way of preferential allotment for Rs 217 crore or Rs 575 per share.
SBI moves SC to discontinue Janata Deposit scheme The State Bank of India (SBI) has moved the Supreme Court seeking an order to discontinue its 33-year-old 'Janata Deposit Scheme' on the ground that it has become economically unviable due to its negative returns for last several years causing a drain on the bank's resources.
Bandwidth row: REACH seeks Mgmt Committee meeting In a new twist to the ongoing bandwidth controversy, REACH, a global telecom carrier and landing partner of Reliance Group-owned FLAG, has sought for an extraordinary management committee meeting to discuss "unauthorised" upgrading of FLAG Europe Asia (FEA) cable".
