The net collection from all mutual funds schemes for the month of September was Rs 235 crore, says an Amfi release. While the total sales from all schemes including the new three schemes launched during the month was Rs 3310 crore, the total redemption during the month was Rs 3075 crore, resulting a net gain of Rs 235 crore. The assets under the management of all mutual funds industry is in order of Rs 85,487 crore as on September 30.

NSE suspends broker

National Stock Exchange has suspended M/S Sanghi Corporate Services Ltd with effect from today for the failure of the trading member in meeting the requirements for continued membership of the exchange/ clearing corporation, an NSE release said.

IFCI asks Barar to seek Sebi exemption

Industrial Finance Corporation of India has asked the promoters of sick Barar Industries to obtain exemption from Sebi from the provisions of takeover code for the transfer of 50 per cent of their shareholding to a new promoter. In a draft rehabilitation scheme circulated by the BIFR, IFCI said Barar Industries promoters should obtain exemption from takeover code in respect of transfer of their 50 per cent shareholding to proposed new promoter SN Sahoo, company's raw material supplier.