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."
BUSINESS
Mistry camp says NCLAT verdict 'victory of good governance', but Cyrus unlikely to return to Tata Group
Even as the order to reinstate Mistry as chairman of Tata Sons has been suspended for four weeks, insiders who did not wish to go on record said he is unlikely to return to Bombay House.
BUSINESS
Karvy scam | SEBI likely to seek RBI probe into role of banks, NBFCs
Lenders that extended loans to Karvy, partially in lieu of client securities, had enough warning signs that something was amiss.
BUSINESS
Offer For Sale: NSE, BSE unable to broadcast actual OFS price at closing time, brokers complain
As per SEBI guidelines, it is mandatory for companies to offer a minimum 10 percent reservation for retail investors.
BUSINESS
Budget 2020: Equity and commodities brokers submit key issues for consideration
The recommendations include the reduction of the STT and the CTT.
BUSINESS
Enforcement Directorate set to confiscate Nirav Modi’s assets for auction
These assets include Nirav Modi’s apartment in one of Mumbai’s prominent housing society, Samudra Mahal, and 6-7 other real estate properties in South Mumbai.
BUSINESS
SEBI may crack the whip on Karvy and BMA Wealth, attach properties
SEBI mainly pursues attachment of properties in collective investment schemes where promoters fail to return the capital of small investors.
BUSINESS
SEBI set to fill posts of three executive directors
The interview panel comprises Chairman Ajay Tyagi, whole-time member G Mahalingam, former RBI Deputy Governor HR Khan and TK Viswanathan, former Secretary in the Law Ministry.
BUSINESS
Karvy case: SAT refuses relief to banks
SAT had earlier directed SEBI to hear Bajaj Finance's plea and pass an order by December 10.
BUSINESS
IPOs worth Rs 15,000 cr coming soon, govt divestment to excite market: SEBI Chairman Ajay Tyagi
The IPO market was slow in the first half of 2019 but is picking up again in the second, Tyagi said.
BUSINESS
SAT asks NSDL to hold back remaining stocks of Karvy clients
The tribunal further directed SEBI to hear out the lender's concerns by December 4 and pass an order by December 10.
BUSINESS
Karvy case: SAT halts further transfer of client securities after lenders challenge SEBI decision
The banks have sought immediate freezing of the securities transferred to clients' accounts. HDFC Bank has lent Rs 400 crore to Karvy based on these pledged shares
BUSINESS
Bajaj Finance challenges SEBI decision on Karvy: 'Have right to pledged shares'
Bajaj Finance has moved the SAT to challenge SEBI's decision on restoring Karvy's pledged securities to its clients.
BUSINESS
Big relief in Karvy case: After swift SEBI crackdown, 93% of investors get back pledged securities
The NSE and the BSE, on December 2, suspended Karvy's trading license with immediate effect.
BUSINESS
I-T dept conducts searches at 40 premises of Everest Spices
The company, which is located Mumbai’s suburbs, is come under the department’s scanner for indulging in bogus billing
BUSINESS
Zee Entertainment in SEBI, MCA crosshairs after exit of independent directors
According to a regulatory filing by Zee, Kumar and Vohra had raised concerns over several issues, which included discrepancies in spending CSR funds.
BUSINESS
Here's how Karvy Stock Broking "almost" dodged regulatory lens
SEBI got wind of the goings on at Karvy in mid-October when the brokerage used clients funds for proprietary trading. The regulator then carried out a reconciliation exercise of the client accounts.
