News From Press SBI, LIC fail to get more time to cut UTI MF stake

SBI, LIC fail to get more time to cut UTI MF stake

Source: The Economic Times Mar 6, 2019

Two domestic shareholders of UTI Asset Management Co — State Bank of IndiaNSE 1.28 % (SBI) and Life Insurance Corporation of India (LIC) — have sought more time from the Securities and Exchange Board of India (Sebi) to divest their stake in the asset manager but the market regulator has declined them an extension of time, said people with knowledge of the matter.

Last year in March, the Securities and Exchange Board of India (Sebi) introduced a cross-holding limit in mutual funds to eli ..

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