UTI AMC yet to resolve pension issue of former staff as IPO nears

Employee association plan to move court if corrective action is not taken

UTI Asset Management Company (AMC) is yet to resolve the impasse surrounding the pension dues of its former employees who had opted for voluntary retirement in 2003 as well as sundry grievances related to its officers' association.

The issue assumes significance as these liabilities could impact valuations ahead of a possible public share sale.

A few months ago, the All India UTI AMC Officers’ Association had shot off a letter to the Securities and Exchange Board of India (Sebi) alleging that the draft prospectus of the asset manager’s initial public offering (IPO) failed to adequately highlight the contingent liabilities arising