The Bombay High Court adjourned the hearing of the petition filed by T Rowe Price International to August 28 after the US-based shareholder of UTI Mutual Fund sought more time saying that it is in talks with the government for an out-of-court settlement of the matter.
On Monday, Fredun De Vitre, senior counsel who was appearing for the T Rowe Price informed the court that talks are on and hence the US-headquartered firm is seeking more time.
