Based on the findings of the Keki Mistry report, the regulator has proposed phasing out share buybacks from the open market through stock exchanges as these are prone to misuse.
The Tata Group is in final negotiations to buy a majority stake in India’s eighth-biggest mutual fund, UTI Asset Management Co (AMC), from four state-owned financial entities, according to people close to the development.
Reliance Capital’s administrator informed resolution applicants that they will need to offer at least ₹6,500 crore — pegged as the threshold bid amount — to participate in the auction for the company, said people aware of the development.
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