US-64: Gujarat investors' plea

By Our Special Correspondent

AHMEDABAD, JULY 12. The Gujarat Investors' and Shareholders' Association has urged the Union Finance Minister, Mr. Yashwant Sinha, to protect the interests of millions of investors in the Unit Trust of India's US-64 scheme and restore investors' confidence in government managed institutions.

In a letter to Mr. Sinha, the association president, Mr. Chinubhai Shah, regretted the irregularities committed by the UTI ``right under the nose of the Finance Ministry officials'' to cause injustice and ``betrayal'' of the loyal and faithful investors.

He wondered how a public institution directly reporting to the union finance ministry could ``defraud'' the public openly by selling its units at Rs. 14.55 in April and May, when the authorities were fully aware that the net worth of the same unit had gone below Rs 10.

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Section  : Business
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