BUSINESS
NSE’s settlement plea in the co-location case rejected by Sebi
NSE had sought to settle under Sebi's consent mechanism, allowing resolution without admitting guilt. Sebi rejected NSE's plea and will issue a regulatory order instead, the sources noted.
BUSINESS
Paytm's oversight lapses on politically exposed people forced RBI's hand: Sources
RBI's audit of Paytm Payment Bank's risk management system found several deficiencies in the way it conducted due diligence while onboarding politically exposed persons (PEPs)
BUSINESS
BAT stake sale in ITC won't require govt approval if sold to domestic entities
However, if the potential buyer is a foreign entity then the same would have to be approved by the government, experts said
BUSINESS
Not exploring legal options, says Paytm Payments Bank
In the past, there have been instances where the regulator’s orders have been challenged. In 2018, Kotak Mahindra Bank promoter Uday Kotak challenged RBI’s imposing restrictions on promoter shareholding in the Bombay High Court
BUSINESS
Why RBI lost patience with Paytm Payments Bank: Anti-money laundering lapses, related party transactions
RBI found that the company did not conduct proper background checks on the source of funds before onboarding clients, they said.
BUSINESS
Manufacturing companies face uncertainty as Budget mentions no extension of beneficial tax rate
According to tax experts, the budget documents are silent about extending the applicability of the Section 115BAB of the Income Tax Act. The section provides a beneficial tax rate of 15 percent to companies incorporated post 2019 and who begin their manufacturing before March 31, 2024.
BUSINESS
Zee says it is not aware of any proposals regarding promoter stake hike
In response to a story published by Moneycontrol, stock exchanges had sought a clarification from the company.
BUSINESS
Subhash Chandra’s statements on ZEEL stake hike under Sebi scrutiny: Sources
In recent statements, Subhash Chandra has said that promoters of ZEEL will increase their stake in the company to 26 percent from the current 4 percent. Rules mandate that listed companies should disclose material events to shareholders first.
BUSINESS
Foreign funds oppose Sebi’s instant settlement plan
In a letter to the market regulator, leading funds have said that they fear the planned move may create fragmentation of market volumes and distort prices due to two settlement cycles.
