BUSINESS
Global HFT bigwigs are taking local route to play Indian derivatives
Experts say a domestic brokerage licence provides the foreign funds with greater flexibility in derivative markets, especially when it comes to taking short positions
BUSINESS
PFC legal advisors green light SP loan against Tata Sons shares
SP Group had initially begun talks with lenders to secure $1.2 billion to refinance a part of its Rs 20,000 crore debt originally maturing in the last week of May
BUSINESS
SAM’s senior partner Iqbal Khan and his team to join JSA
Iqbal is currently a senior partner at SAM and will be National Corporate Lead at JSA. He will further collaborate with the partners at JSA to build and even stronger firm.
BUSINESS
MC Explains: Why SP Group wants to pledge Tata Sons shares and Tata Trusts are concerned?
Disagreements have been brewing between Tata Trusts and SP Group in the last few months over the transferability of shares held by SP Group in Tata Sons
BUSINESS
Investor compensation claims fall as Sebi clamps down on stockbroker frauds
The National Stock Exchange provided compensation worth Rs 52 crore to investors who were defrauded by brokers in FY24, against Rs 129 crore in FY23, Rs 535 crore in FY22 and Rs 552 crore in FY21, official data showed
BUSINESS
MCA tightens scrutiny of beneficial ownership norms for foreign-owned companies
Several FOCCs have received notices from ROCs alleging violation of SBO rules. All these entities declared they had no SBO in their annual filings
BUSINESS
NCLT allows Kirloskar Industries to sell shares of Kirloskar Brothers
The tribunal also came down heavily on both sections of family for the stalemate and expressed concerns over the impact of such family feud on thousands of public investors.
BUSINESS
Sebi’s new rule to limit impact of news leaks on deal pricing will bring cheer to dealmakers, companies
In the past, some M&A deals involving listed companies have been impacted by the rising price of the stock after news of impending deals were reported in the media
BUSINESS
Madras High Court bars Binny promoters from accessing company funds
Sebi and the Ministry of Corporate Affairs are probing an alleged Rs 850-crore scam related to the company. The court order restrains Binny’s promoter and chairman M Nandgopal and his son and daughter from interfering in the company's day-to-day affairs.
BUSINESS
3 Hong Kong-based FPIs get NSE notice for derivatives market trades
All three funds have responded to NSE’s notices and have told the exchange that these were machine-driven trades with no human intervention
BUSINESS
Explained: Should founders of listed Startups be eligible for ESOPs?
Food-delivery aggregator Zomato recently announced a significant allocation of Rs 3,780 crore in employee stock options to incentivise its top leadership, including founder Deepinder Goyal.
BUSINESS
MC Exclusive: SP group offers to pay Rs 400 cr extra to bond holders
In exchange, the group has sought bond holders’ approval for postponing of the coupon payment on the debt to September 30 from previous repayment date of May 26.
BUSINESS
Sovereign wealth funds see 60% rise in India assets, touch Rs 4.7 lakh crore mark
In 2023, the assets under custody of sovereign wealth funds was Rs 3 lakh crore NSDL data showed. This increase shows that global investors are upping their bets on the India growth story.
BUSINESS
Multi-billion-dollar Godrej family settlement won't attract tax: Sources
The group has opted for the 'family arrangement' route under tax law, which is exempt from capital gains tax
BUSINESS
Explained: Sebi's move to open Indian markets to NRIs
Until now a foreign portfolio investor could have NRIs as investors, but the non-residents could not have majority ownership.
BUSINESS
Explainer: What next for FPIs with past Adani links post settlement plea?
It is noteworthy that Adani stocks have hardly reacted to news reports of FPIs with past exposure to Adani stocks seeking a settlement. Since April 22, the Adani Group stocks have traded flat indicating that the market has put the episode behind it
BUSINESS
ED arrests FBI-wanted man in Rs 3,000 crore digital currency scam
The agency has arrested an individual Parvinder Singh from Haldwani, Uttarakhand today following raids that were conducted on Friday. A special team of FBI is also in India regarding the case, sources said
BUSINESS
FATF India review to conclude by June, no major red flags so far
The global anti-money laundering and terrorism financing watchdog will present its evaluation report in in Singapore in June
BUSINESS
Govt eyeing vouchers, subsidies to make AI GPUs affordable for educational institutions, innovators
Both the proposals are being discussed with Nvidia. Government is also keen on talks with other global players, sources. The market has welcomed the move, saying the government's involvement will mean better access.
BUSINESS
UK NRIs seek asset separation, Dubai residency to avoid new tax measures
The UK government's plan to significantly alter its tax system for non-residents has sparked a surge in client inquiries, particularly from NRIs residing in the UK.
BUSINESS
EXPLAINED : How reclaiming of lost shares will become quicker under proposed changes
The proposed scheme seeks to reduce the time required to reclaim shares from up to a year now to just 60 days.
BUSINESS
Cost of overseas equity investments goes up for India’s wealthy
Sebi’s March 24 circular directed Indian asset managers to stop accepting fresh inflows into schemes that invest in foreign shares or ETFs since the industry-wide limit of $1 billion has almost been breached.
BUSINESS
Recovery of fraudulent GST input credit rises to12% in FY24: Sources
The improvement in recovery rate comes as the DGGI has started to adopt a proactive strategy to detect the Input Tax Credit cases in early stages. GST expert explains how even ordinary citizens are trapped by fraudsters.
BUSINESS
Foreign currency loan book of banks in GIFT City crosses $50 billion mark
The GIFT City loan market has grown rapidly as the total dollar loans given by international banking units have surged 180 percent in just two years.
