7. Fund to Bond to Cash
1964: UTI launches US-64, an open-ended balanced fund
1990-1995: Dividend rate of US-64 is 18%. It rises to 26% by 1995
1995-99: Net asset value of US-64 falls drastically
1999: Deepak Parekh panel set up to suggest US-64 revamp, bailout
2001: UTI suspends sale, purchase of US-64 units for six months
2003: US-64 mutual fund ends; investors offered cash or tax-free tradable
bonds, with 6.75% annual interest
2008: Bonds mature on 31 May, putting an end to the US-64 saga
Year wise information about the process of scam