UTI Officers' Association moves top court in 26% stake sale case

Bombay HC recently dismissed the case citing delay in filing

The Supreme Court has ordered an issue of notice to UTI AMC stakeholders State Bank of India, Bank of Baroda, LIC, Punjab National Bank and the government, along with T Rowe Price, in an appeal pertaining to the 26 per cent stake sale by the domestic sponsors of the AMC to the US-based asset manager in 2010.

The Bombay High Court (HC) had issued an order last year, impleading T Rowe as a respondent (to hear its views as an affected party) in the plea pertaining to the AMC's 2010 stake sale to the US firm. However, it recently dismissed