Bombay High Court adjourns hearing in UTI Mutual Fund matter

Petitioner T Rowe Price seeks more time to hold discussions with stakeholders; Puri demits office

The Bombay High Court on Monday adjourned the hearing on a writ petition filed by T Rowe Price in the matter of UTI Mutual Fund (MF). The US-based firm sought more time to explore the possibility of settling the matter through discussions with the involved parties. The hearing was adjourned by consent.

According to sources, the finance ministry, which is one of the respondents in the writ petition, is also open to discussing the matter.

As one of the directions sought in the petition pertained to extension of UTI MF’s Managing Director Leo Puri’s tenure, the matter was pushed up for hearing