A SEBI probe revealed that Chanakya Stock Broking had committed various irregularities like delay in the transfer of securities to the beneficial owner account and created false and backdated records
Market regulator Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of Chanakya Stock Broking Services for one week over alleged violations of broker norms.
“...hereby suspend the certificate of registration of the noticee namely Chanakya Stock Broking Services Pvt Ltd... for a period of one week. This order shall come into force on expiry of twenty one days from the date of this order,” SEBI said in its order on 5th February.
A probe by the regulator revealed that the stock broker had committed various irregularities such as delay in the transfer of securities to the beneficial owner account among others.
The matter had come to light after SEBI received a complaint from one Brig RS Anand (Retd) regarding certain malpractices done by his portfolio manager, PN Vijay Financial Services (PNV).
Following the complaint, the regulator conducted an inspection of the books of account and other records of PNV, in October 2005.
“The Designated Authority has also given a finding that the noticee (Chanakya) has delivered the shares to the client (Brig Anand) from the account of PNV and Shyam Sunder Investment Pvt Ltd in fourteen scrips i.e., accounts other than that of the noticee. I observe that Designated Authority has noted that the instances of such transfer of shares were quite considerable. The noticee in its reply has admitted the transfer from the account of another client. The reason given by the noticee for such transfer was that, it occurred due to the mistake on the part of its employees. Had the instances been very few, one could accept the explanation of the noticee. However, there were several instances of such transfers. Therefore, the same has to be viewed seriously and cannot be condoned. Therefore, I find the noticee guilty of violating the provisions of Clause A(2) of the Code of Conduct for Stock Brokers as specified in schedule II under Regulation 7 of the Brokers Regulations,” Prashant Saran, whole time member, SEBI said in the order.
As part of the probe, SEBI also conducted an inspection of Chanakya Stock Broking with whom PNV was dealing. The inspection period was from 1 June 2004 to 1 September 2005.
SEBI observed that Chanakya Stock Broking had delayed the transfer of securities to the beneficiary account which under the norms are required to be done within one working day after the pay-out date. The said delay was ranging from 82-243 days, SEBI said.
Further, according to SEBI, Chanakya Stock Broking had created false/backdated records in order to cover up certain lapses on its part and that of PNV.
Out of the 256 films that were rejected by the Censor Board, the majority had sexually implicit material
The Central Board of Film Certification (Censor Board) has denied certification to 256 films during the period between 2001 and 2011. The Board rejected as many as 78 Hindi films, while there was only one film each in Bengali and Gujarati that could not pass the test.
According to information procured under the Right to Information (RTI) Act by Lucknow-based activists Amitabh and Nutan Thakur, the maximum number of films denied certification in one year was 59 in 2006, followed by 33 films in 2002 and 31 in 2004. Only nine films were denied certification in 2010. In 2001 all the 19 films denied certificate were English films.
During these 10 years, Hindi films at 78 emerged as toppers among banned films to be followed by 52 films in English. Among South Indian films, 51 Tamil, 33 Kannada, 15 Telugu and 14 Malayalam films were denied certification in this period while five Marathi films have been denied certificate. Only one Bengali film (2011—Kaal Aaj Kaal) and one Gujarati film (2010—Hun Re Vijogan Tara Nam Ni) was banned during this entire period while two Bhojpuri (Garda Garda Ho jaaye and Mumbai Bam Visfot Kand) and two Haryanavi films (Jija Teen Taang Ka and Padosan Thanedar) in 2006 were also denied certificates.
Most of these films had sexually implicit material. They include films like Frivolous Lola (2001), Adamkhor Hasina, Qatil Shikari, Khooni Raat (2002), Aalingnam (Malayalam- 2002), Biwi Tumhari Bacche Hamare (2003), Yoga Teacher, Divya Teacher (Tamil - 2003), Aag Hai Ye Badan (Hindi - 2004), Bhookh, Jo Andar Fit Woh Baahar Bhi Hit (2005), Maa Ninello Naanalle (Kannada), Preethiya, Rambha (Kannada-2006), Husn Bewafa, Sanam Harjai (Hindi) 2006, Model (Kannada - 2007), Mumbai Aamchich (Marathi - 2007), Master Eke Master (Marathi - 2008), Maadosha (Kannada - 2008), Bedherencha Bayangaram (Telugu - 2008), Back to Honeymoon (Hindi - 2009), Thee, Naalai Namade(Tamil - 2009), Paribhavam (Malayalam), Hawaa, Mestru (Kannada - 2009), Deva Leelai (Tamil), Panchavati (Kannada), Yaar, Kattupuli and Itumbu (Tamil).
Other films include The Irrefutable Truth about Demons (New Zealand horror film), The Mexican, a 2001 American comedy film directed by Gore Verbinski and starring Brad Pitt and Julia Roberts and Rahul Dholakia-directed Parzania (English, partly Gujarati - 2005), based on the Gujarat riots.
After Independence autonomy of the regional censors was abolished and they were brought under the Bombay Board of Film Censors. With implementation of Cinematograph Act, 1952, the Board was unified and reconstituted, as the Central Board of Film Censors. Cinematograph (Certification) Rules were revised in 1983 and since then the Central Board of Film Censors became known as the Central Board of Film Certification.
Tax expenses jumped to Rs 63.03 crore in October-December quarter compared to Rs17.36 crore in the year-ago period
Cadila Healthcare’s consolidated net profit declined more than 31% year-on-year to Rs 103 crore in the third quarter of financial year 2012-13 from Rs149 crore, mainly on higher tax and other expenses.
Consolidated total income rose by 16% to Rs1,604 crore from Rs1,383 crore during the same period.
Tax expenses jumped to Rs 63.03 crore in October-December quarter compared to Rs17.36 crore in the year-ago period.
Cost of material consumed increased 60% y-o-y to Rs398.45 crore and other expenses rose by 24% y-o-y to Rs579.25 crore for the quarter.
Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) declined marginally to Rs255 crore from Rs262 crore y-o-y.
Operating profit margin dropped 300 basis points year-on-year to 15.9% in the reporting quarter.