Two companies to drop UTI name after Jan 2008
Taking the cue from UTI Bank that rechristened itself Axis Bank, two other entities that use the UTI brand will assume a new name after January 2008.
By PTI |
KOLKATA: Taking the cue from UTI Bank that rechristened itself Axis Bank, two other entities that use the UTI brand will assume a new name after January 2008.
UTI Technology Services Limited and UTI Infrastructural Services Limited would have to drop the UTI name or pay royalty to the brand's owner - UTI AMC.
Specified Undertaking of Unit Trust of India (SUUTI) Administrator S B Mathur told PTI that both the companies would have to drop the UTI name after January 2008.
"They cannot use the UTI name after that period," he said.
He, however, said that everything depends on whether they agreed to abide by the terms and conditions set by UTI AMC.
UTI Bank Limited was the first entity to change its name to Axis Bank Limited on similar grounds. However, the bank would be allowed to retain the UTI name till January 2008.
The same is true for UTI Securities Limited (UTISEL), which had been sold off to Securities Trading Corporation of India (STCI).
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