TRENDS
COVID-19 | IIT alumni launch philanthropic initiative to raise funds for medical infrastructure
The alumni groups have come together to provide critical medical equipment like oxygen concentrators, cylinders, para monitor machines and other support supplies to government hospitals.
TRENDS
SEBI’s proactive steps provide booster dose to capital market in pandemic times
From developmental work to strengthening the regulatory or compliance framework, the SEBI, MIIs and Intermediaries seem to have worked well together, despite the constraints, to ensure minimum hindrances in the stock market and related activities.
BUSINESS
Vedanta’s Sterlite plant sends out first load of medical oxygen
The Supreme Court had on April 27 allowed the Sterlite Copper plant in Thoothukudi, which was shut down in May 2018 over pollution concerns, to reopen to produce oxygen.
BUSINESS
Sebi proposes to give easier exit to shareholders post-IPO, change 'promoter' definition: Here is what experts say
Moneycontrol has spoken to legal experts and market observers to obtain their views on the discussion paper. Most are of the opinion that the regulator’s proposals would have a favourable impact on the Indian equity market.
BUSINESS
Exclusive| We plan to turn IIFL Finance into a retail-only NBFC, says chairman Nirmal Jain
Jain talks to Moneycontrol about IIFL group’s digital transformation, tapping the international market for funds, taking on rivals in the crowded discount brokerage space and more.
BUSINESS
Do your due diligence before sending show cause notices on service tax defaults: CBIC tells officers
Tax-related associations say the department has issued notices even to many businesses which are exempt from service tax for the year 2015-16. Experts say that not all differences in data between income tax and service tax amount to tax evasion.
BUSINESS
Lockdown forces sharp fall in cement demand; signals slowdown in construction activity
Industry pins its hopes on lifting of temporary state imposed restrictions; government has major infrastructure projects like Bharat Mala in the pipeline
BUSINESS
COVID-19 second wave | Sebi gives listed companies more time to report results
The market regulator has also extended the time period for filing annual secretarial compliance report to June 30.
BUSINESS
Sebi may tighten noose on exchanges for tech glitch by penalising management: Source
In the past, Sebi had imposed a disincentive amount of Rs 50 lakhs on National Stock Exchange for a techanical glitch. Though there is no fixed amount for the monetary disincentive currently, it’s clear that the regulator wants to formalise penalties at a higher amount to avoid such mishaps in future.
BUSINESS
COVID fallout: Sebi may not allow brokers to work from home if call recording is not in place
ANMI wants 16 other relaxations due to severe pandemic conditions; regulator is cautious about front running cases and unauthorised trade without client information, which does not favour investors.
BUSINESS
Loss-making companies still holding AGMs at the last minute: IiAS report
In the seventh edition of its study on the association between the timing of AGMs of Nifty 500 companies and their financial performance, the advisory firm continues to contend that the rationale offered by many companies for delaying their AGMs due to their ‘large size and complex business’ is untenable.
BUSINESS
Companies in critical sectors manage to vaccinate employees below eligible age of 45
Authorities have allowed companies in critical sectors such as ports and power to vaccinate employees even if they are not old enough to be normally eligible. Companies say they are diligently abiding by the rules in their vaccination drives.
BUSINESS
Tax evasion: Byju’s parent faces scrutiny by GST intelligence wing
Edtech unicorn Byju’s faces two cases for alleged tax evasion of around Rs 43 crore and has been asked to respond to show-cause notices detailing the alleged violations.
BUSINESS
We continue to be optimistic about the potential of transmission sector: IndiGrid
Harsh Shah, Chief Executive Officer, IndiGrid, spoke to Moneycontrol on the rights issue, future plan of the company, amendment to Sebi regulations and the potential of InvITs and Real Estate Investment Trusts. IndiGrid is now planning a rights issue that will open on April 6 and close on April 13.
BUSINESS
Sebi tweaks rules for delisting, sustainability reporting and startups
Sebi’s board has approved a series of measures, which make it easier for startups to go public, introduced new norms that make delisting of shares more transparent, and introduced sustainability reporting by companies.
BUSINESS
CBI books DHFL promoters for creating over 2.6 lakh fake home loan accounts
The case registered by CBI is against promoters of DHFL Kapil Wadhawan and Dheeraj Wadhawan who are already facing two other cases by CBI in the Yes bank scam and UP power Corporation scam.
BUSINESS
Sebi board set to have an action-packed meeting on March 25
Items that could be on the agenda include a revamp in delisting regulations, de-classification of promoters, shareholding norms for Market Infrastructure Institutions and discussions on an innovation growth platform.
BUSINESS
MCA orders inspection of Edelweiss Asset Reconstruction Company’s books after whistleblower complaint to PMO
Paras Kuhad, a former additional solicitor general of India and 14 percent shareholder in EARC along with his family, has alleged that controlling shareholders diverted at least Rs 1,800 crore from the asset reconstruction firm; the company has strongly denied any wrongdoing.
BUSINESS
Sebi may direct exchanges to operate from DR site within 45 minutes if tech glitch halts trading
All main exchanges have an alternative base of operation called DR site to help them conduct operations seamlessly during an emergency.
BUSINESS
Enforcement Directorate conducts searches on real estate player Shivalik Group
An Enforcement Directorate team from Delhi searched more than a dozen places on March 4.
BUSINESS
Enforcement Directorate launches money-laundering investigation against Franklin Templeton
ED will probe if Franklin Templeton officials sold their investments and made unlawful gains just before the AMC closed six debt mutual fund schemes in April 2020.
INDIA
Income Tax department raids locations linked to Taapsee Pannu, Anurag Kashyap
Besides actor Taapsee Pannu and film director Anurag Kashyap, the I-T department's searches were on at locations linked to film producer Vikas Bahl and distribution company Phantom Films, according to a report
BUSINESS
NSE glitch: Sebi forms panel to strengthen interoperability
Problems at NSE and its clearing corporation created an unforeseen situation in which market players could not switch to another exchange’s clearing corp..
BUSINESS
Trading glitch: NSE’s new offerings may run into SEBI hurdle
The regulator wants the exchange to expand its capacity to take orders as new services will put pressure on the market architecture and an interruption like the one on Wednesday could repeat.
