Ironic that ex UTI and ex SEBI Chief Dave to head SEBI’s Advisory Committee on Mutual Funds
Wasn’t Mr S A Dave the Chairman of UTI in the 1990’s when it subscribed to the controversial preferential allotment of Equity Shares of over Rs 700 crs made by Reliance Industries. It was controversial for several reasons…striking reasons were that the shares were locked in and were subscribed to at higher than market price !…clearly the Investment decision …