Citibank depository tops Instanex ratings
Citibank has topped the first Instanex annual survey of depository banks on feedback received from Indian corporates who have made ADR/GDR issues. It has the top position in all three categories- pre-issue, during issue and post-issue. The second and third best were Bankers Trust/Deutsche Bank and The Bank of New York. The survey conducted between February and May 2000 by Instanex Capital Consultants Pvt Ltd provides feedback on the criteria used by Indian corporates in selecting a depository bank, key customer relationship issues among other useful information.Company law settlement scheme
The registrar of companies, Mumbai has informed that the company law settlement scheme,2000 closes on August 31, 2000. He has further clarified that delinquent companies would be facing prosecution by the courts resulting in hefty fines.
Bar on Burr Brown share-buying goes
The Reserve Bank of India (RBI) on Friday notified that non-resident Indians (NRIs)/overseas corporate bodies (OCBs) and persons of Indian origin (PIOs) can now purchase equity shares and convertible debentures of Burr Brown (India) Ltd up to 24 per cent of its paid-up capital. The shares and convertible debentures could be purchased through stock exchanges under the portfolio investment scheme (PIS), the central bank said in a release. RBI has also notified that foreign institutional investors (FIIs) can purchase equity shares and convertible debentures of Burr Brown (India) Ltd up to 40 per cent of its paid up capital through primary/secondary markets in India under PIS.
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