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.
BUSINESS
CCI sends show-cause notice to Muthoot Finance for 'regulatory shopping'
CCI introduced the requirement to disclose parallel proceedings to dissuade entities from lodging complaints on a matter already being investigated by other regulators, say legal experts
BUSINESS
Sebi annual inspections focus on PEPs and Mule accounts ahead of general elections
Given the impending general elections, Sebi has tightened its monitoring of brokers to check mail practices. The regulator has also dwelt in detail to see if the brokers followed all the rules applicable for flagging and monitoring of PEP accounts.
BUSINESS
P-note investment surges to 7-year high as FPIs bet heavily on Indian mid-caps
In terms of value, P-notes account for 2.1-2.4% of total FPI assets in India, which is highest since October 2020, shows data..
BUSINESS
Why is Sebi cracking down on mule accounts?
Some of the regulatory orders issued by the market regulator in the recent past indicate that certain bankers and wealth managers have been using mule accounts to inflate the subscription numbers of both initial public offerings and debt issuances
BUSINESS
Bridge funding for real estate insolvency turning a challenge due to lack of clarity on rules
The issue has come up in the ongoing insolvency of real estate firm Supertech and during the Umang Realtech case.
