Ruling on Rajlakshmi

A writ petition challenging the UTI's decision to prematurely terminate the Rajlakshmi Unit Scheme 1992 (RUS 1992) has been rejected by the Mumbai High Court.

The petition filed by the Investors Grievances Forum was dismissed as the court upheld UTI's decision to terminate RUS-92 on September 30. The court did not find substance in the petitioner's contentions and stated the termination was in accordance with the scheme's terms. However, legal restrictions placed by some of the other courts are still in place and the last word is yet to be said on the termination of Rajlakshmi.