BUSINESS
CBDT says income tax shortfall 'non-neogtiable', instructs top brass to pull up their socks to meet FY20 target
The CBDT Chairman said that a shortfall in tax collections is not negotiable despite a cut in the corporate tax rate, and that this short fall of Rs 1.36 lakh crore has to be recovered with extra efforts.
BUSINESS
ED steps up probe in pulses price rigging case; Edelweiss officials called for questioning
The agency has started calling the officials of companies which are suspected of having colluded to manipulate the prices.
BUSINESS
MCX Clearing Corp’s top boss appointment hits legal hurdle over technicality
MCXCC had appointed Ahlwawat MD and CEO in April last year for three years. After the company’s board and SEBI had approved the appointment, the same had to be approved by shareholders in the immediate extra-ordinary general meeting that followed
BUSINESS
PMC Bank case: ED's burning of the midnight oil, delayed paperwork stalls exit of Wadhawans from jail
An appeal filed by the Enforcement Directorate challenged a Bombay High Court order that allowed the shifting of HDIL promoters Rakesh and Sarang Wadhawan, those accused in the Rs 6,800 crore PMC Bank scam case, from Mumbai's Arthur Road prison to their residence.
BUSINESS
Edelweiss Chairman Rashesh Shah appears before ED in forex case
The businessman arrived at ED office in south Mumbai's Fort area around noon and exited after 5 pm, officials said. Details on the information sought from him were not immediately available.
BUSINESS
Edelweiss Chairman Rashesh Shah appears before ED in forex case
Edelweiss Chairman and Chief Executive Officer Rashesh Shah appeared in front of officials of the Enforcement Directorate today.
BUSINESS
Old Monk maker Mohan Meakin to relist on exchanges
The 163-year-old company looks to return to the capital markets 16 years after it had de-listed its equity shares from the Delhi and Calcutta stock exchanges.
BUSINESS
SEBI-appointed SMAC may approve new margining system, share pledging mechanism next week
The SEBI-appointed Risk Management Review Committee (RMRC) in October had agreed on most recommendations of the sub-working group. This group had proposed lower margins for hedged positions and status-quo on unhedged derivative positions.
BUSINESS
ED to issue fresh summon to Edelweiss' Rashesh Shah in connection with Rs 2,000cr forex scam
The case pertains to violation of foreign exchange norms involving a firm Capstone Forex, a Mira-Bhayander based firm.
BUSINESS
I-T Department carries out searches at Aarti Industries' premises
The investigation wing of the Income Tax department is conducting searches at offices and manufacturing plants of Aarti Industries, a source told Moneycontrol.
BUSINESS
SEBI okay with brokers funding client margins, but only with their own money
The brokers’ associations have been given a week’s time to submit the note on funding the margins of their clients.
BUSINESS
SEBI may relax deadline for separation of chairman, MD posts by 1-2 years
The Securities and Exchange Board of India (SEBI) may extend its March 31, 2020 deadline for listed companies to split the post of chairman and managing director post by a year.
BUSINESS
SEBI to retain cash market margin rules, NRIs may get relief after Jan 8 meet
SEBI may give a day’s time to NRIs to pay the margin, provided brokers maintain a separate account for their trades, a source told Moneycontrol.
BUSINESS
NSE, NCDEX explore merger, but don't see eye to eye on valuation
NSE does not want to give more than Rs 600 crore for the agri commodity exchange as against the asking price of nearly Rs 1,000 crore, according to a source.
BUSINESS
PMC Bank fiasco: ED probe reveals bank paid the price for preferential treatment to HDIL
HDIL was taking undue liberty even before its IPO was launched in 2007.
BUSINESS
PMC Bank scam: Anu Wadhawan drew Rs 70 lakh/month pay; unaware of source of funds behind her bungalows
Wives of Sarang and Rakesh Wadhawan owned a vast number of properties but claim to be unaware of the source of funds for the purchases.
BUSINESS
PMC Bank scam: ED probe reveals bank gave Rs 50 cr loan to HDIL 23 days before RBI action
The bank was placed under restrictions by RBI for allegedly trying to mislead the banking regulator by masking its core banking system and creating over 21,000 fake accounts to hide loan defaults by HDIL group companies.
INDIA
PMC Bank case: EOW files 32,000-page chargesheet against 5 accused
The chargesheet has named former managing director of the bank Joy Thomas, former chairman Waryam Singh, former director of the bank Surjit Singh Arora, along with Housing Development and Infrastructure Limited (HDIL) promoters Rakesh Wadhawan and Sarang Wadhawan.
BUSINESS
Iqbal Mirchi's associates, family under scanner of Scotland Yard, UAE authorities
The move comes after the chargesheet filed by ED in PMLA court earlier this month
BUSINESS
Budget 2020 | Level playing field between MF, ULIPs; allow plan switch without tax: SEBI to FM
SEBI has written to the Ministry of Finance ahead of the Union Budget, recommending about a dozen measures for the commodity market, mutual funds and AIFs.
BUSINESS
MCA moves NCLAT to seek review of Tata Sons vs Mistry order
The NCLAT agreed to hear the matter on January 2.
BUSINESS
SEBI reshuffles portfolios of executive directors
VS Sundaresan now in charge of Commodity Market Regulation, Babita Rayudu to look after enforcement.
BUSINESS
Tata Sons a private entity | MCA may challenge NCLAT order in SC
While hearing the appeals, NCLAT learnt that RoC had struck down the word ‘public’ and shown ‘Tata Sons’ as a ‘private’ company despite absence of any order passed by the Tribunal under Section 14 of the Companies Act, 2013
BUSINESS
Lenders drag Karvy to DRT for recovery of loans
The lenders are hoping to recover money from Karvy by seeking the sale of broker’s assets which is pledged with bankers by the DRT. A source close to development told Moneycontrol, "Karvy's promoters pledged their own stake and other assets which are around worth of Rs 5,000 crore."
