DAILY NEWS: OUR PICKS


Once again, an anonymous source at the Indian capital market regulator has leaked information to a leading news agency about a price-sensitive investigation. Indeed, this is a case where the Supreme Court had felt the need to constitute an ‘expert’ committee to examine whether there was...

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Moneylife Digital Team 24 April 2024
Bharatiya Janata Party (BJP) leader Dr Subramanian Swamy has approached the Supreme Court (SC) opposing the Union government's petition to modify the 2012 judgement on the telecom scam known as the 2G spectrum scam to avoid auction in the satellite spectrum. Nearly 12 years after the judgement,...

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Moneylife Digital Team 24 April 2024
Common Cause, a non-government organisation (NGO), and the Centre for Public Interest Litigation (CPIL) have filed a petition in the Supreme Court seeking a detailed investigation by a special investigation team (SIT) into the money trail of the electoral bonds (EBs) scheme.   The petitions,...

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Moneylife Digital Team 24 April 2024
The transformer manufacturing industry in India is witnessing strong growth, driven by rising demand for transformers across various voltage classes. With India’s focus on renewable energy, companies in this sector are experiencing a surge in inquiries and orders for transformers used in solar...

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Shreehari Paliath (IndiaSpend) 24 April 2024
The COVID-19 pandemic has had the most impact on jobs and livelihoods in the last five years. Mahatma Gandhi Rural Employment Guarantee Scheme (MGNREGS), the rural jobs programme which guarantees 100 days of work per household, had become a lifeline for millions of rural workers. A majority of...

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Moneylife Digital Team 24 April 2024
The Bengaluru bench of national company law tribunal (NCLT) has imposed a fine of Rs20,000 on embattling edtech company Byju's for failing to file a response to one of the insolvency pleas filed by a creditor. Surfer Technologies Pvt Ltd, the fourth creditor, had filed the plea in February for...

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Bar  and   Bench 24 April 2024
The President of the National Company Law Tribunal (NCLT) on Tuesday temporarily reconstituted the Chandigarh Bench-II days after the Technical Member Umesh Kumar Shukla allegedly refused to attend the Court.   In an order passed on Tuesday, the NCLT Registrar Naveen Kumar Kashyap said the...

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Moneylife Digital Team 24 April 2024
While asking 13 lenders to hold a joint meeting of lenders to work out the modalities for a valid transfer of 10% equity shares of Jindal India Thermal Power Ltd (JITPL) to lenders, the Delhi High Court (HC) directed them to release shares pledged by the company and upgrade JITPL's status as...

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In early March, alarmed by the flood of money rushing into small-cap funds, after a massive one-year bull run, the market regulator asked mutual funds to consider moderating flows and rebalancing portfolios, since the flows could make the market frothier. The Securities and Exchange Board of...

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Debayan Roy (Bar  and   Bench) 23 April 2024
The Supreme Court on Tuesday questioned the Central government over its failure to invoke the Drugs and Cosmetics Rules of 1945 against Patanjali Ayurved for broadcasting and publishing misleading advertisements [Indian Medical Association & Anr v. Union of India and Ors].   Pertinently, a...

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Moneylife Digital Team 23 April 2024
According to a Reuters report, India’s market regulator Securities and Exchange Board of India (SEBI), has found that a group of offshore funds investing in companies under the Adani umbrella have breached disclosure regulations and exceeded investment thresholds. These insiders, preferring...

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Moneylife Digital Team 23 April 2024
The Securities and Exchange Board of India (SEBI) has levied penalties totaling Rs16 lakh on four entities following an investigation into Jump Network Ltd, currently known as WinPro Industries Ltd, for non-disclosure of shareholding breaches falling below the 5% threshold under the takeover...

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Moneylife Digital Team 23 April 2024
JNK India Ltd (JNK) is in the business of manufacturing process-fired heaters, reformers and cracking furnaces, collectively referred to as ‘heating equipment’, necessary for process industries like oil & gas refineries, petrochemicals and fertiliser industries. It has capabilities in thermal...

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The Reserve Bank of India (RBI) has asked non-bank payment system operators (PSOs), to track high-value or suspicious transactions through electronic modes of payment during the ongoing Lok Sabha elections to prevent any misuse of funds to influence voters.   RBI’s letter, dated 15th April,...

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Moneylife Digital Team 23 April 2024
Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs3 lakh on Tipsons Consultancy Services Pvt Ltd for violations related to due diligence processes. SEBI conducted  inspection  of  Tipsons  Consultancy  Services to ascertain compliance  with  provisions  of  SEBI’s  NCS ...

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Sponsored Post 23 April 2024
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Moneylife Digital Team 23 April 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs14.50 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs5 lakh has been imposed on Punjab-based Nakodar Hindu Urban Cooperative Bank Ltd.   Other banks...

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Moneylife Digital Team 22 April 2024
On 22nd April, the national company law tribunal (NCLT) in Delhi accepted Indiabulls Housing Finance's (IBHF) petition for personal insolvency against Subhash Chandra, the chairman emeritus of Zee Entertainment Enterprises Limited (ZEEL), due to guarantees provided to Vivek...

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Moneylife Digital Team 22 April 2024
Numerous public petitions, including letters from leading activists such Prof Jagdeep Chhokar, founder of the apolitical and non-partisan non-profit organization, Association for Democratic Reforms (ADR), EAS Sarma, IAS officer and former secretary to government of India, and others, have been...

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Moneylife Digital Team 22 April 2024
In a significant development, a special PMLA (Prevention of Money Laundering Act) court in Mumbai has granted bail to Yes Bank co-founder Rana Kapoor in a Rs400-crore loan fraud case. The decision, while marking a pivotal moment in Mr Kapoor's legal saga, also raised questions about the...

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