News From Press Investor relations: US investor sues government over UTI

Investor relations: US investor sues government over UTI

Source: Financial Express Aug 9, 2018

After unsuccessfully petitioning the finance ministry and the Securities and Exchange Board of India (Sebi), US investor T Rowe Price (TRP) on Wednesday filed a case in the Bombay High Court against the Indian government asking it to prevent PSU financial investors — State Bank of India, Life Insurance Corporation (LIC), Punjab National Bank (PNB) and Bank of Baroda — from scuttling Unit Trust of India’s (UTI) attempts at an initial public offering (IPO) and trying to take over the country’s fourth largest mutual fund through the back door.

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