BUSINESS
Karvy aftermath: SEBI plans to revamp structure to check skulduggery by brokers
Under the revised structure, client money will continue to be kept with depositaries such as NSDL and CDSL or custodian and can be transferred to a broker only under the direction of the clearing corporation.
BUSINESS
Default disclosure, PMS fund changes, NSE glitches: Everything that transpired at SEBI board meet
Here are the key decisions taken and issues discussed at the SEBI board meeting.
BUSINESS
PMC Bank scam: Enforcement Directorate may give nod to sale of HDIL's assets
ED has attached properties worth Rs 3,830 crore, which include vast parcels of land in Vasai and Palghar, besides a luxury bungalow in Alibaug and luxury cars.
BUSINESS
PMC Bank scam: RBI, others move closer to selling HDIL land to return depositor money
The Reserve Bank of India, Enforcement Directorate, the Economic Offences Wing of the Mumbai Police and administrators of PMC Bank have formed a coordination team to expedite action in the PMC Bank case.
BUSINESS
A series of bad client trades on castor seeds puts Karvy into a liquidity crunch
The Hyderabad based-financial services group is facing a liquidity crunch as some of its clients have defaulted on payments after incurring huge losses on trades in castor seed contracts.
BUSINESS
SEBI may revamp norms to cut rights issue process time to 31 days at next board meet
The market regulator may discuss significant reduction in time taken to process a rights issue to 31 days from 55-58 in the current framework.
BUSINESS
IL&FS crisis fallout: SEBI takes a dim view of role of credit rating agencies, may fine them only Rs 1 crore
"SEBI has initiated action against credit rating agencies under Section 15HB but can only impose monetary penalty," a source told Moneycontrol.
BUSINESS
Ask Nilekani or God, says SEBI chief on Infosys chairman's 'God' statement
Addressing analysts in a conference call on November 5, Nilekani said he felt “insulted with the (whistleblowers’) accusations,” and that “even God can't change the earnings of the company.”
BUSINESS
MCA orders SFIO probe in Cox & Kings: Sources
The Ministry of Corporate Affairs (MCA) has ordered a Serious Fraud Investigation Office probe in travel firm Cox & Kings after it uncovered prima facie evidence of siphoning of money, a source told Moneycontrol.
BUSINESS
MCA orders SFIO probe into CG Power: Sources
The MCA ordered an SFIO probe on the recommendations of the Western Regional Director of the MCA, which, in its report on CG Power submitted last month, found diversion of funds.
BUSINESS
Income Tax Department conducts raids on two dozen entities across Maharashtra
As per sources "Department is conducting searches more than two dozens places and searches could be continue next few days also".
BUSINESS
Iqbal Mirchi case: ED questions Dheeraj Wadhawan for hours, right after he gets discharged from hospital
Dheeraj Wadhawan's name had come up during interrogation of the arrested accused Ranjit Singh Bindra and Humayun Merchant.
BUSINESS
DHFL crisis: ED calls Kapil Wadhawan for clarification, summons Kundra again this week
Kapil Wadhawan is said to have reportedly submitted some documents related to the deals and left the ED office after about an hour and a half. Sources said he may be summoned again.
BUSINESS
Exclusive | SEBI may lower margin requirements for hedged trades in F&O segment
The SEBI-appointed Risk Management Review Committee met on October 16 and agreed to most recommendations of the sub-working group. This group had proposed lower margins for hedged positions and status quo on unhedged derivative positions
INDIA
Iqbal Mirchi money laundering case: Raj Kundra appears before ED, Shilpa Shetty may be questioned next
Kundra had earlier denied any wrongdoing in these business dealings
BUSINESS
SEBI might investigate whistle-blowers' complaints on Infosys
Series of allegations were levelled by the whistle-blower referring to steps taken by Parekh like resorting to unethical practices to boost short-term profit and downsizing expenses by not recognising visa cost
BUSINESS
ED summons former Bhushan Steel promoter Neeraj Singhal over Iqbal Mirchi case
The ED sought to know about the financial transaction with Iqbal Mirchi's family. It could have taken place somewhere between 2010-11 through an associate company where Neeraj Sighal was the director.
BUSINESS
Enforcement Directorate arrests two close aides of Iqbal Mirchi
After hearing the arguments from both sides, the court sent Merchant to custody in remand till October 24.
BUSINESS
PMC Bank crisis: ED identifies 50 new properties of HDIL for possible attachment
The Enforcement Directorate has already attached assets of HDIL that are worth 3,800 crore. These include high end cars, lavish bungalows and jewelry.
POLITICS
Maharashtra elections 2019: Income Tax Dept seizes cash and gold worth Rs 43 crore
The investigation wing of the I-T Department has seized around Rs 43.18 crore since September 27, of which Rs 2 crore was released after documents of the cash and valuables were furnished before it.
BUSINESS
Enforcement Directorate conducts searches on Wadhawan brothers over alleged dealings with Iqbal Mirchi
The searches were carried to investigate loans given to Sunblink Developers, which bought three properties from Iqbal Mirchi worth Rs 225 crore in 2010.
INDIA
ED quizzes Praful Patel over transactions with Iqbal Mirchi's family in 12-hour meeting
NCP leader Praful Patel appeared before the Enforcement Directorate today, which questioned him on transactions between his firm Millennium Developers and late drug lord Iqbal Mirchi’s family.
BUSINESS
SEBI board may consider hiking PMS investment limit to Rs 50 lakh, tighter norms for auditors
The Securities and Exchange Board of India (SEBI) may discuss new regulations for auditors, portfolio management services (PMS) and proxy advisory services at its upcoming board meeting in November.
BUSINESS
Hours before ED custody, Wadhwans request agencies to sell attached assets and repay PMC Bank customers
According to HDIL, the company has securitised enough assets to the PMC banks as compared to the loan taken. They have securitised 40 assets with clear titles with the bank.
