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Assocham warns against FIs move
EXPRESS NEWS SERVICE
The Assocham president KP Singh has sought finance minister's intervention to resolve financial institutions move to offer their shareholdings to the existing promoters at a negotiated fair value. "This will further cement the foundation laid for mutual relationship between financial institutions and corporate India," Singh said. The FIs move to dispose their stake in the open market to a highest bidder instead of negotiating with the existing promoters will disturb the company's management.Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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