Sensex falls 339 points
Mumbai: The Bombay Stock Exchange index of 30 shares lost 339 points, or 7.08 per cent, during the week ended 29 October 1999. The main factor responsible for the fall was selling by foreign institutional investors.
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Who’ll head Sebi?
Mumbai: D R Mehta, chairman, Securities and Exchange Board of India, has said that he will not seek an extension after February 2000, when his tenure ends.

Mr.Mehta was given a five-year term earlier, when the rules permitted a tenure of only three years. During a hearing to a petition filed against his original appointment, Mr.Mehta has said that he will not seek an extension.
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L&T to go for NYSE listing
Mumbai: Larsen & Toubro would like to get itself listed on the New York Stock Exchange in the year 2000. It will also start maintaining its accounts according to the US generally accepted accounting practices.

Boston Consultancy Group has been appointed to advise on the strategies and business mix to be followed by L&T.
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IndBank hopeful
Mumbai: Indfund Management, the asset management company for Indian Bank Mutual fund has obtained legal opinion from former Supreme Court justice K Venkatachary and a few others. They have said that Indfund cannot be held responsible for the returns indicated in the Ind Prakash scheme.

Indian Bank has made up for the shortfall in the Ind Jyothi scheme, as the bank was responsible, as the sponsor, to meet the commitments of its mutual fund. The Ind Jyothi scheme had specifically mentioned the words "assured returns" in its offer letter.
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