BUSINESS
SEBI wants exchanges to consider brokers’ views before extending trading hours
NSE and BSE had submitted a plan to extended trading hours till midnight from October 1. On May 4, SEBI had agreed to increase timings for equity derivatives trading to 11.55 pm.
BUSINESS
L&T Finance, DB Realty, Tree House under MCA scanner over use of IPO funds
The ministry has sought documents relating to the IPO from these companies.
BUSINESS
J&J faulty hip implant case: Govt appoints 5-member central expert committee to determine compensation for patients
The five-member Central expert committee will review the reports of state level committees or applications submitted by affected patients based parameters such as degree of disability and patient suffering on account of monetary loss due to loss of wages and other losses. The base amount was fixed at Rs 20 lakh.
BUSINESS
GST dept's service tax crackdown continues, searches payments firm EbixCash
The action is the latest on an issue on which industry and the department have a different interpretation of rules.
BUSINESS
MCA orders formal investigation into Jet Airways for alleged siphoning of funds
The order came after the ministry found financial irregularities and instances of siphoning off of funds in the company's books
BUSINESS
ED probes over 2 dozen companies for suspected round-tripping via GDRs
Preliminary enquiry begins amid suspicion several Indian companies used GDRs to route black money into India.
BUSINESS
Size of Bhushan Steel alleged fraud may jump from Rs 2,000cr to Rs 6,000-7,000cr
Bhushan Steel, and its erstwhile promoters, have been previously accused of siphoning off over Rs 2,000 crore.
BUSINESS
MCA probes Jet Airways on suspicion of siphoning funds: Sources
A senior official confirmed to Moneycontrol that the Mumbai Registrar of Companies (RoC) will inspect Jet’s books of accounts.
BUSINESS
GST unit cracks down on 3 private banks, 1 payment bank for Rs 100-cr tax evasion
The entities are suspected of evading GST by under-reporting the value of the funds transferred for customers.
BUSINESS
Supreme Court stays Bombay HC order granting relief to disqualified directors
As a result of the Supreme Court order, other orders issued by various high courts in around 2,000 cases of disqualification of directors have also been stayed
BUSINESS
NSE officials suppressed information about few brokerages in co-location case
SEBI’s preliminary findings of the CFT on a complaint pertaining to the co-location case revealed that the exchange did not divulge that more than eight IPs were procured by OPG in January 2012, some of which were used by entities other than OPG.
BUSINESS
NSE Co-location case: Narain, Ramakrishnan play blame game in testimony to SEBI
SEBI questioned the two former officials on multiple matters including Omenisys, Ajay Shah, and brokers allegedly involved in the case.
BUSINESS
SEBI-appointed committee questions EY’s ability as auditor in NSE's cash, currency derivative co-location case
Technical Advisory Committee feels EY is compromising its future as an independent forensic auditor by not reaching a conclusion despite ‘obvious findings’
BUSINESS
Exclusive | NSE co-location audit: 3 brokers misused secondary server and ignored exchange warning
Deloitte Touche Tohmatsu India LLP conducted forensic investigations into three brokerage houses including OPG Securities, SMC Global and Barclays Securities.
BUSINESS
Breakthrough for MCA, PNB in Nirav Modi case: US Bankruptcy court orders issue of summons to examine Modi, others
The order also authorises gathering of documents from these individuals and others such as Ajay Gandhi and Kunal Patel
BUSINESS
No plans to review margin rules; ASM for benefit of retail investors: SEBI chief
Ajay Tyagi feels that a robust margin system is important for protecting the interests of retail investors.
BUSINESS
NSE applies for extending equity derivatives trading hours till midnight: Sources
The National Stock Exchange, India’s top stock exchange, is looking to start a second trading session between 5:00 pm and 11:55 pm, only for equity derivatives, after the regular session ends at 3.30 pm.
BUSINESS
CBI names NSE chairman in fresh charge sheet in Aircel-Maxis case
Overall, the CBI has named 18 individuals under section 120-B read with section 7, 12, 13(2) read with 13(1) D of the Prevention of Corruption Act.
BUSINESS
Unhappy over technical glitches, SEBI may consider special audit of MCX's technology
Over the last year, MCX has had six major technical glitches, five of them in less than two months.
BUSINESS
SEBI may not give green signal to petrol and diesel future contracts
petrol and diesel prices are close to multi-year highs because of the recent spurt in global crude oil prices.
BUSINESS
NFRA may begin with supervision of listed companies' auditors
NFRA will have the power to investigate, either suo motu or if there is a reference made to it by the government, according to the rules released by MCA.
BUSINESS
NCLAT upholds MCA's move to freeze assets of independent directors in PNB fraud case
These directors belong to companies owned by Nirav Modi and Mehul Choksi
ECONOMY
Changing auditors? Corporate affairs ministry wants to know handover process
The government wants to know the extent to which some details about a company is shared by an outgoing auditor with the incoming one
BUSINESS
Turf war: SEBI, MCA may be on collision course over issue of regulating auditors
Although the Union Cabinet has given the nod to establish a separate regulator for CAs, it seems like SEBI still wants to regulate auditors.
