DAILY NEWS: OUR PICKS


Indira Jaising (The Leaflet) 04 August 2022
As the Supreme Court prepares to frame questions for adjudication in the ongoing case involving Shiv Sena’s tug of war, the real issues need to be delineated.  ———- At the hearing of the Maharashtra political stalemate before the Supreme Court bench comprising the Chief Justice of...

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Amid the debate over price rise and inflation in the country, a comparison of government data since the year 2014 discloses that the all-India average inflation rate is highest at 6.82% in current year 2022.   As per the government data, the average inflation was 6.65% in 2014, came...

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Moneylife Digital Team 04 August 2022
The Pension Fund Regulatory and Development Authority (PFRDA) has decided to stop accepting payment of subscriptions/contributions by using credit cards as a mode of payment in the National Pension System (NPS) Tier-II account. The regulator has instructed all points of presence (PoPs) to...

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Moneylife Digital Team 04 August 2022
The Securities and Exchange Board of India (SBEI) has imposed a penalty of Rs3 lakh on BSE Ltd for indirectly engaging in activities unrelated to a stock exchange without the regulator's approval. The order came after SEBI examined investments made by BSE Ltd to ascertain whether the firm had...

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Moneylife Digital Team 04 August 2022
Securities and Exchange Board of India (SEBI) has restructured its advisory committee on market data that recommends policy measures pertaining to securities market data access and privacy.   The market data advisory committee will now have 20 members, the latest information on the...

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Moneylife Digital Team 04 August 2022
Market regulator Securities and Exchange Board of India (SEBI) has implemented new rules with effect from 1 August 2022 according to which brokers are required to report individual client-level allocation of funds. This means one customer’s funds cannot be used for another’s margin...

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The Enforcement Directorate (ED) on Wednesday said that they have attached balances of Rs 105.32 crore, lying in various bank accounts and with payment gateway accounts, of 12 NBFCs, namely Inditrade Fincorp Ltd, Aglow Fintrade Pvt Ltd and others and their associated fintech companies in...

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Moneylife Digital Team 04 August 2022
Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs25 lakh on IIFL Securities for flouting regulatory norms in the matter related to ICICI General Lombard Insurance Company block deals back in 2019.   The market regulator conducted an investigation into the block...

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Chris Morran  and   Daniel Petty (ProPublica) 04 August 2022
This story was originally published by ProPublica.   Private equity firms have grown substantially since the 1980s and now manage more than $6 trillion in assets in the United States. Their presence has affected industries from hospitals to fisheries.   Private equity is...

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Ride-hailing platform Uber, which suffered around US$707mn (million) loss in its Zomato investment in the first half of this year, on Wednesday sold its 7.8% stake worth over US$390mn in the Deepinder Goyal-run company. Uber Technologies sold its shares in the food delivery aggregator...

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The government on Wednesday said it will withdraw its much-awaited Personal Data Protection Bill 2019 that has seen 81 amendments in the past three years and will now introduce a new Bill.   IT minister Ashwini Vaishnaw told members of the joint committee of the Parliament (JCP) that...

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The directorate of revenue intelligence (DRI) has detected customs duty evasion of around Rs2,217 crore by Vivo Mobile India Private Limited.   A show-cause notice has been issued to Vivo India demanding customs duty amounting to Rs2,217 crore, under the provisions of the Customs...

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The enforcement directorate (ED) on Wednesday attached assets totalling Rs415 crore in Yes Bank-DHFL Fraud case.   The agency attached the assets worth Rs251 crore of Sanjay Chhabria and the assets worth Rs164 crore of Avinash Bhosale.   The attached assets of Sanjay Chhabria...

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Low-cost carrier SpiceJet is said to be in active discussion with a Middle Eastern carrier for a possible stake sale.   SpiceJet promoter Ajay Singh holds a stake of around 60% in the budget carrier. Sources said a big Middle Eastern airline has expressed interest to pick a 24% stake...

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Sonali Ahuja (The Leaflet) 03 August 2022
On 1st August, a bench at the Supreme Court comprising Justices Hemant Gupta and Vikram Nath set aside the Allahabad High Court’s 2019 order which had found the Uttar Pradesh government’s 1999 order disqualifying persons with locomotor disability from applying for the posts of sweepers as...

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Moneylife Digital Team 03 August 2022
The growth in the operating cash-flows of Bharti Airtel Ltd and Reliance Jio are likely to be sufficient to pay for their 5G spectrum assets and related capex, says Fitch Ratings.   In a report, the rating agency says, "We expect Bharti's and Jio's free cash flow generation to improve...

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Proposing a 30 per cent cap on the expenses of management for Indian general insurance companies, sector regulator IRDAI also wants them to have a policy detailing cost control measures which can be transferred to policyholders by way of reduced premium.   The Insurance Regulatory and...

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Moneylife Digital Team 03 August 2022
Shoppers Stop came up with a strong set of Q1FY22-23 results with highest June quarter earnings and sales, despite delay in EOSS (end of season sales). It is one of the leading departmental stores companies and mainly operates in the fashion and beauty segment. Spread across 90 department...

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Moneylife Digital Team 03 August 2022
Fenton Investments and Arvind Singhania have settled with market regulator Securities and Exchange Board of India (SEBI), a case pertaining to alleged insider trading in the shares of Varun Beverages after paying Rs63 lakh. The two applicants proposed to settle the alleged violations of...

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The Enforcement Directorate (ED) on Tuesday said it has attached 75 immovable properties including 67 windmills valued at Rs 113.32 crore belonging to the Chennai-based Surana Group of Companies in connection with three cases of Rs 3,986 crore bank fraud.   The ED had initiated money...

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