Employee-related litigation could hit UTI MF's valuation ahead of IPO sale

UTI Mutual Fund is involved in a number of cases of employee-related litigation, which could have a bearing on its valuations as it hits the market for a public share sale.
 
The asset manager is yet to resolve the impasse surrounding the payment of pension to its erstwhile employees who had opted for voluntary retirement in 2003. The pension payout to the 1,200-odd employees could amount to Rs 400-600 crore, according to sources.
 
It is not clear if the amount will be paid out of UTI MF’s books or whether the Specified Undertaking of the Unit Trust of