November 18, 1999
PR No. 267/1999

Press Release

Pursuant to the approval of the amalgamation of HB Asset Management Company Ltd with Creditcapital Asset Management Company Ltd and amalgamation of HB Trust Co. Ltd. with Creditcapital Investment Trust Co. Ltd by the High Court of Delhi and High Court of Bombay, it is clarified that HB Mutual Fund has ceased to exist. Consequently, the two schemes of erstwhile HB Mutual Fund viz. Libra Leap Scheme and Libra Tax Shield Scheme have become schemes of Taurus Mutual Fund. Accordingly the approval granted to HB Asset Management Company Ltd to act as an asset management company has been withdrawn.