DAILY NEWS: OUR PICKS


Moneylife Digital Team 15 March 2025
In a significant development regarding the ongoing IndusInd Bank crisis, the joint auditors of the Hinduja Group-promoted bank have formally requested a forensic audit of its troubled derivatives portfolio, according to an Economic Times report. MP Chitale & Co and MSKA & Associates, the bank's...

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Moneylife Digital Team 15 March 2025
In a significant move that marks Patanjali Ayurved's first major foray into the financial services sector, Baba Ramdev's company and the Dharampal Satyapal Group (DS Group) have acquired a majority stake in Magma General Insurance from Adar Poonawalla-owned Sanoti Properties. The deal, valued...

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Moneylife Digital Team 15 March 2025
In a landmark development for India's insurance sector, the Insurance Regulatory and Development Authority of India (IRDAI) has granted a certificate of registration to Valueattics Reinsurance, marking the end of General Insurance Corporation of India's (GIC Re) five-decade monopoly in the...

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Moneylife Digital Team 13 March 2025
IndusInd Bank has been at the centre of financial turmoil following the revelation of discrepancies in its derivative portfolio, leading to a 2.35% reduction in net worth. This triggered a sharp decline in its stock price on Tuesday. We have covered it here. The stock has been falling for a...

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The legal framework surrounding fair comment, influence-peddling, defamation and fraud in social media interactions is still evolving. As always, those exploiting social media’s vast reach for business gains are ahead of regulators tasked with preventing abuse. The situation is further...

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The unprecedented revelation of an accounting fluff by the fifth biggest private bank in the country is not a routine year-end journal entry to gloss over. Nor the niceties to be observed to await a full investigation report to air one's prima facie views!   Leaving aside many other alarming...

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Moneylife Digital Team 13 March 2025
The Reserve Bank of India (RBI) has widened its investigation into derivative exposures of multiple private and state-run banks following significant accounting discrepancies revealed by IndusInd Bank. This expanded probe comes after IndusInd Bank disclosed lapses in its derivatives accounting...

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Moneylife Digital Team 13 March 2025
Expressing concern over how homebuyers in the National Capital Region (NCR) have been held 'to ransom', the Supreme Court has hinted at ordering a central bureau of investigation (CBI) probe into an alleged nexus between real estate developers and banks through subvention schemes for various...

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Sahyaja MS (Bar  and   Bench 13 March 2025
A woman has approached the Bombay High Court seeking action against unauthorised use of her photograph by political parties and various States in advertising their schemes (Namrata Ankush Kawale and anr v Tukaram Nivrutti Karve).   As per her plea, both private and government entities have...

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Moneylife Digital Team 13 March 2025
Amber Enterprise India (Amber) is into manufacturing and assembly of room air-conditioners (RAC) and key RAC components. Currently, it has 23 manufacturing plants across eight states and serves all the major RAC brands in India, such as Voltas, Blue Star, LG and Daikin, among others. Amber has...

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Moneylife Digital Team 13 March 2025
India's retail inflation has dropped below the Reserve Bank of India's (RBI) 4% target, hitting a seven-month low of 3.6% in February, down from 4.3% in January. This decline was primarily driven by a significant drop in food inflation, which fell to 3.7%—its lowest level since May 2023....

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In today's digital age, the convenience of online shopping has revolutionised the way we purchase goods and services. However, this convenience has also opened the door to a surge in fraudulent activities, particularly fake or bogus e-shop scams proliferating on social media platforms like...

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Moneylife Digital Team 13 March 2025
The Kochi office of the directorate of enforcement (ED) has provisionally attached assets worth Rs16.52 crore belonging to the directors of Surabhi Steels Pvt Ltd and its group companies. The attached assets, comprising 17 immovable properties, including land and buildings located at prime...

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Shirish Shanbhag 13 March 2025
Managing a cooperative housing society (CHS/the Society) comes with its fair share of challenges, from election disputes and redevelopment issues to conflicts over daily amenities. This week, I will address concerns about election procedures—who gets to elect office bearers and whether physical...

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If you are a regular traveller and you need to charge your phone at public places, this is the app for you!   Just install this app and run it when you place your phone for charging at a public charging station. Now, if anyone unplugs your device, the app will sound a loud alarm, deterring...

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Moneylife Digital Team 13 March 2025
The Union ministry of law and justice in February forwarded a summons from the US Securities and Exchange Commission (SEC) to a sessions court in Ahmedabad for it to be served on industrialist Gautam Adani at his address in the city, the Union government confirmed to The Hindu.   "Under...

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Moneylife Digital Team 12 March 2025
Coming down heavily on the State Bank of India (SBI) for challenging an innocuous order passed by a chief metropolitan magistrate (CMM) in a loan recovery case, the Delhi High Court (HC) called the matter a 'luxury litigation' by SBI, which in no way causes any irreparable loss of reputation or...

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Sahyaja MS (Bar  and   Bench) 12 March 2025
The Central Bureau of Investigation (CBI) recently conducted a search at the home of a retired National Company Law Tribunal (NCLT) member in connection with a case where a law firm solicited bribes from a party to obtain a favourable order, Times of India reported.   Bar & Bench has accessed...

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A right to information (RTI) applicant seeking information on those investigation reports by the serious fraud investigation office (SFIO), which have been completed by investigative officers, has got some respite from the central information commissioner (CIC). The CIC directed the SFIO, which...

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Ummar Jamal (Bar  and   Bench) 12 March 2025
The District Consumer Disputes Redressal Commission at Nainital in Uttarakhand recently ordered Levi Strauss India Pvt. Ltd. to pay Rs32,799 as compensation to a woman who was sold a defective pair of jeans that led to color bleeding, damage to her bag and skin irritation (Ms. Srishti Yadav vs....

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