Key Points
I ask, was it in fulfilment of this policy that the Corporation purchased by direct negotiation from an individual, Shri Mundhra, shares worth Rs. 1,25,00,000 in his concern on the 25th June 1957?.
In March, in April, in June, in JulyJuly is the one which the statement has left outin August, in September, for six months in this year and on 19 different occasions the Corporation purchased shares of the Mundhra Group for a sum of Rs..
And, whenever the Corporation wanted to augment its shares, Shri Mundhra was always there waiting to oblige, so much so that on one occasion the Life Insurance Corporation transacted business on a day when both the Calcutta and Bombay Stock Exchanges were closed...
I am going to jump one week from the 17th to give you an idea of how much less the Corporation would have paid had the purchase been made on the 10th June at prices prevailing and quoted at the Calcutta Stock Exchange..
The British India Corporation in which on one day, the 25th June, they invested Rs. 42 lakhs, paid a dividend of 14 per cent in 1954, nil in 1955 and 2 per cent, for the year ending 1956...
