BUSINESS
Open offer relaxation, preferential share allotment pricing norm changes likely among major changes to be made by Sebi
Another proposal likely to be considered is the deposition of 100 percent money into an escrow account for an indirect acquisition. Currently, this is applicable for direct acquisition only.
BUSINESS
Advance tax collection plunges 76%, Mumbai circle records 78% drop in June quarter
According to sources, gross collection of income tax, however, is down by 31 percent.
COMMODITIES
In a first, BSE to launch futures contracts on almonds on June 22
The move is on the back of its successful launch of options contract on spot gold prices.
BUSINESS
Yes Bank case: Avantha Group raised Delhi property rent by 65 times to obtain loan
Investigations have found that the rental income from a Delhi property owned by Gautam Thapar was raised just before a loan was sanctioned by Yes Bank against it.
BUSINESS
ED raid at Cox & Kings in Yes Bank case: A maze of dubious transactions under lens
The teams of the central agency have carried out the searches under the Prevention of Money Laundering Act.
BUSINESS
Brokers in a tight spot as tech glitch hits NSE again
Option segment prices are not reflecting or updating on the terminals linked to the country’s largest bourse.
BUSINESS
Sebi may give in-principle nod to NSE IPO but with conditions
The National Stock Exchange may have to share the details and the status of the co-location server case in the draft red herring prospectus.
BUSINESS
EXCLUSIVE: IL&FS used every trick in the book to mislead regulators, round-trip loans: Forensic audit
The report highlights the then management’s admission of the near-bankruptcy situation of ITNL and instead of reporting the same to the regulators, it tried to use its contacts to influence the RBI to adopt a restructuring plan outside IBC and NCLT.
BUSINESS
MCX announces pay cuts for senior employees
The exchange is taking a slew of measures to reduce cost including re-negotiation with vendors and reduction in sitting fees for directors.
BUSINESS
Sachin Bansal’s mutual fund ambitions run into Sebi wall
Flipkart co-founder’s fintech plans appear to face delays because of the strict regulatory framework imposed by the capital markets regulator.
BUSINESS
A new lease of life: SEBI move to ease fundraising norms to help stressed companies avoid insolvency
The measure was recommended by SEBI’s Primary Market Advisory Committee, and the regulator is expected to implement the new guidelines in a month’s time.
BUSINESS
Exclusive | IL&FS unit colluded with Mumbai contractor on infra projects, finds forensic audit
IL&FS Transportation Networks India Limited passed lucrative contracts to GHV India Private Limited through suspicious transactions and rigged bidding, says report by Grant Thornton.
BUSINESS
2nd SEBI employee tests positive for COVID-19, headquarters closed for 5 days
SEBI has shut down its headquarters for five days from May 20-25
BUSINESS
IL&FS case: Govt all set to move Supreme Court to prosecute auditors BSR, Deloitte
The High Court ruling on April 20 was a relief for the two audit firms that moved court against the government’s decision to ban them from auditing activities for five years and initiate criminal proceedings against them.
BUSINESS
Yes Bank case: Rana Kapoor’s daughters claim innocence, say ‘father handles all business’
Roshni Kapoor, the youngest daughter, in her statement to the ED, said she was just ten years old when holding companies were set up.
BUSINESS
Yes Bank case: ED arrests DHFL promoters Kapil and Dheeraj Wadhawan
The Bombay High Court had refused to grant anticipatory bail to the Wadhawans, noting that that their custodial interrogation was necessary to unearth the conspiracy in the multi-crore scam.
BUSINESS
Former CEO Ravneet Gill puts the blame on Rana Kapoor for Yes Bank collapse
Gill, who joined as MD and CEO of Yes Bank on March 1, 2019, stated that he was brought to the bank for reasons such as ‘poor credit culture, poor compliance culture, centralisation of power and lack of institutionalisation’.
BUSINESS
SEBI rule for investment in unlisted NCDs a reason for fund fiasco, says Franklin Templeton global chief
According to the company, heightened redemptions after the lockdown led to increased concentration of unlisted bonds which were needed to be held until maturity.
BUSINESS
ED to file chargesheet against Rana Kapoor, 7 others; provisionally attach Rajiv Gandhi painting: Sources
ED has provisionally attached 168 bank accounts of Rana Kapoor, family members and associates companies worth Rs 52 crores.
BUSINESS
Yes Bank case | Enforcement Directorate to submit first charge sheet today
Sources told Moneycontrol that the ED may serve the charge sheet to his three daughters, wife and their companies, which have allegedly received benefits.
BUSINESS
COVID-19 impact | Indian jewellers warn of a 'Thailand-like crisis', highlight working capital woes
Jewellers in Thailand were grappling for cash as people came in large numbers to sell gold, prompting PM Thailand Prayuth Chan-Ocha to tell them to "not to sell gold in large amounts".
BUSINESS
IndiaNivesh Securities case: Edelweiss approaches HC seeking payment of outstanding dues
The matter is likely to be heard on April 30.
MARKETS
Franklin Templeton India fiasco | SEBI may conduct special inspection for abrupt closure of schemes
Through this special inspection, SEBI aims to check if trustees and management have carried out their duty properly or if there were any lapses.
BUSINESS
Coronavirus impact | I-T Dept officials propose 10 main ways to boost tax revenue
The officials also proposed some short (3-6 months) and medium (9-12 months) term measures to raise additional revenues for the government to help deal with the pandemic.
