DAILY NEWS: OUR PICKS


Parsa Venkateshwar Rao Jr (The Leaflet) 23 May 2022
The Supreme Court’s judgment last week in Union of India versus Mohit Minerals Pvt Ltd Through Director underscores the gap between the GST Council’s purely consultative mandate and the reality in which the states have willingly abdicated their right to tax in favour of an artificial cabal,...

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On 8 March 2022, the enforcement directorate (ED) at Hyderabad issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) against C Parthasarathy, founder of the Karvy group of entities, his sons Adiraj Parthasarathy and Rajat Parthasarathy, and the following...

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The past two years after global lock-downs were triggered by the COVID-19 pandemic, India's investor population has almost doubled due to the rush of new investors. Strangely, however, the brokerage business is seeing a huge churn with scores of broker defaults and even more trading members...

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Moneylife Digital Team 21 May 2022
When Ola Cabs began to offer outstation services, most people thought it was a safe and smooth way to book vehicles, especially for family, children and senior citizens to travel out of town. But the absolute lawlessness and thuggery allowed to recovery agents of banks and finance companies,...

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On 6 May 2022, Elcid Investments Ltd, listed on the Bombay Stock Exchange (BSE), a name unknown to many until then, with an issued share capital of 2,00,000 equity shares of Rs10 each, with the promoters holding 1,49,950 shares, announcing that the postal ballot to initiate the delisting...

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Does the game change?   An article of a 1,000 words is too small to explain the significant challenges that one faces in a digital world. That is why my colleague (Brian Almeida) and I wrote a book titled Marketing in a Data/ Digital World (available on Amazon). This was a book...

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GPay, as Google Pay is popularly known, is being widely used these days—right from shopping online, paying bills or for making payments to individuals for food, groceries or even to vegetable vendors. Often, when joint purchases are made or when you have to share bills in a restaurant, GPay...

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Moneylife Digital Team 21 May 2022
Paying heed to anger among common people over increased fuel prices, the Union government on Saturday decided to reduce excise duty on petrol by Rs8 per litre and on diesel by Rs6 per litre. Further the government will also give Rs200 per cylinder subsidy for Ujjwala Yojana beneficiaries for...

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The CBI on Saturday launched a search operation on brokers at over ten locations in connection with the National Stock Exchange (NSE) co-location scam involving the financial institution's former MD and CEO Chitra Ramkrishna and the ex-Group Operating Officer Anand...

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The Haryana Real Estate Regulatory Authority (HRERA), Gurugram, has issued a notice directing the freezing of all accounts associated with a real estate firm.   The company M/s Mahira Infratech ltd, previously known as M/s Sai Aaina Farms Pvt. Ltd, was developing a real estate project...

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Moneylife Digital Team 21 May 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1 crore on IIFL Securities (IIFL) Ltd for violating regulations  in 2014. SEBI had conducted multiple audits of IIFL's books of accounts and discovered that the company had violated the SEBI circular of...

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Moneylife Digital Team 20 May 2022
Ever since March 2016, when the market regulator, Securities and Exchange Board of India (SEBI), mandated mutual fund (MF) houses to disclose how much fund managers, directors of the asset management company (AMC) and other key employees invest their own money into their schemes, the data has...

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When it comes to cyber crimes, we often consider poor or less educated people more susceptible to fraud. However, highly educated people or professionals are more likely to fall prey to fraudsters. This week, we will see how a chartered accountant (CA) lost about Rs13 lakh in a job fraud and...

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Axis Mutual Fund has sacked its chief trader and fund manager Viresh Joshi, with immediate effect, the fund house said.   On 4th May, Axis AMC had suspended Mr Joshi and another fund manager.   Axis MF, in an official statement, said, "Axis AMC has been conducting a suo moto...

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Moneylife Digital Team 20 May 2022
Markets regulator Securities and Exchange Board of India (SEBI) has imposed penalties totalling Rs38.75 crore on 32 entities, including Fortis Healthcare Holdings, in a case related to diversion of funds of Fortis Healthcare Ltd (FHL) and misrepresentations to conceal the fraud.   The...

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The Delhi High Court on Friday sought the response of the Central Bureau of Investigation (CBI) on the bail application of National Stock Exchange's (NSE) former chief Chitra Ramkrishna, who was arrested in connection with the NSE co-location (Colo) scam case.   Seeking the response...

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Moneylife Digital Team 20 May 2022
Incorporated in 2008 as a wholly-owned subsidiary of 3i Infotech Ltd (3i), eMudhra Ltd (eMudhra) is the largest licensed certifying authority (CA) in India with a market share of 37.9% in the digital signature certificates (DSCs) market space in FY20-21, up from 36.5% in FY19-20. It provides...

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Moneylife Digital Team 20 May 2022
The financial results of Gujarat Fluorochemicals (GFL) were in line with our estimates. The consolidated revenue for FY21-22 grew by 49% to Rs3,954 crore and Q4FY21-22 revenue grew by 28% to Rs1,074 crore y-o-y (year-on-year). Operating profit margin expanded by 800bps (basis points) to 31%...

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Moneylife Digital Team 20 May 2022
The insurance regulator  Insurance Regulatory and Development Authority of India (IRDAI) has asked motor insurance providers to discontinue advertisements showing services, like free pick-up and drop of vehicle, which are not part of the insurance cover.   General insurance companies...

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Against the backdrop of more than 33 lakh cheque bounce cases which burdens the judicial docket, the Supreme Court on Thursday gave green signal to a pilot study to set up special courts headed by retired judicial officers exclusively to deal with these cases.   A bench of Justices L....

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