Friday, March 15, 2013

SUUTI'S SHARES NOT FOR ALL

The Cabinet in March 2012 cleared the winding up of the Specified Undertaking of Unit Trust of India (SUUTI) and the transfer of its assets (11.5% stake in ITC, 23.6% in Axis Bank and 8.3% in L&T) to an asset management company. The Finance Minister has said that the government's "SUUTI shares" in three private firms would not be sold through the competitive bidding route.

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