ECONOMY & NATION


Moneylife Digital Team 26 June 2013
The union's demands include 25% wage hike, permanent employment for contractual workers, reinstatement of some suspended employees and bringing back to the Chakan plant those transferred outside Production at Bajaj Auto's Chakan plant near Pune remained crippled today as the agitation by...

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Moneylife Digital Team 25 June 2013
Earlier this month, SEBI had asked more than 100 firms including Fresenius Kabi to submit their replies related to non-compliance with the mandatory requirement of 25% public shareholding   The Securities Appellate Tribunal (SAT) has directed Fresenius Kabi Oncology to make a fresh...

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Moneylife Digital Team 25 June 2013
The advisory firm asks people to share their username and password of demat account so that it can trade on behalf of them and give a 20% assured return.  Is the market regulator keeping an eye on such entities? The Securities Exchange Board of India (SEBI) which bars even mutual funds...

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Moneylife Digital Team 25 June 2013
An internal committee of DoT had alleged that Bharti Airtel had continued to route national and international calls as local calls under a scheme till 2005 despite being told to stop it in 2003 Telecom minister Kapil Sibal is learnt to have approved levying of Rs650 crore penalty on...

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Less than a year after NDTV broke off with TAM Rating, many Indian broadcasters have walked out of the ratings monopoly. Does this rating serve any useful purpose? Less than a year ago, NDTV’s decision to sue TAM (Television Audience Monitoring) for a billion dollars sparked many...

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Will the honest bankers caught in Cobrapost sting operation help soften the RBI blow on erring banks? A third set of revelations by the Cobrapost sting operation on how bankers help to launder ill-gotten cash now covers HSBC India and Standard Chartered Bank as well. What has, however,...

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Moneylife Digital Team 25 June 2013
The acquisition will be done through a joint venture in which OVL will hold 60% stake while OIL will have the remaining 40% State-owned Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) will buy Videocon Industries' 10% stake in a giant Mozambique gas field for about $2.5...

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Moneylife Digital Team 25 June 2013
The court said that it cannot decide the plea against the company on the basis of a judgment passed by a US court against Ranbaxy The Supreme Court today dismissed a PIL (public interest petition) seeking a probe against Ranbaxy Laboratories for allegedly manufacturing and selling...

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Moneylife Digital Team 25 June 2013
The board of Tech Mahindra and Mahindra Satyam had approved the merger on 21 March 2012. After an approval from the Bombay High Court, the Andhra Pradesh High Court gave its nod for the merger on 11 June 2013 Software services firm Mahindra Satyam was on Tuesday formally merged with its...

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Moneylife Digital Team 25 June 2013
The RBI in a notification on Monday relaxed the ECB norms for affordable housing projects by withdrawing the minimum capital requirement and lowering total experience to three years The Reserve Bank of India (RBI), on Monday, relaxed the external commercial borrowing (ECB) norms for...

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Moneylife Digital Team 24 June 2013
A Moneylife analysis of 1,144 companies found out that India Inc’s performance for the fourth quarter of the 2012-2013 fiscal was subdued   Corporate India has had a somewhat mixed fourth quarter results for the 2012-2013 fiscal. Moneylife analysed data of 1,144 companies, and saw...

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Bharti Airtel, Vodafone and Idea have cut data tariffs for 2G services in circles where they do not have a licence for 3G services. This is nothing but an attempt to retain subscribers, following the Delhi High Court order and DoT notification barring them from offering 3G services in circles...

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Sushmita V Gopalan 24 June 2013
Until now, all eyes have been on FII investment fluctuations in the equity market. However, as we watch the consequences of the massive pull-out of FII investment from the debt market play out, it emerges as a new source of volatility for the Indian rupee In June 2013 foreign...

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Moneylife Digital Team 24 June 2013
Following the surrender request from Parsvnath Infra, the Board of Approval, headed by Commerce Secretary SR Rao, has de-notified the zone at its meeting on 12th June Faced with land acquisition problems, real estate major Parsvnath has surrendered its IT special economic zone (SEZ) in...

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Sanjay Dutt, director of Quantum Securities and a long-term shareholder of NDTV has alleged that chairman Prannoy Roy received irregular promoter funding of Rs375 crore by pledging NDTV shares which, according to him, is against the RBI rules In August 2011, Moneylife wrote: “NDTV got...

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Moneylife Digital Team 24 June 2013
After passing its attachment orders, SEBI informed all the banks, depositories, mutual funds and NBFCs, among others, about the matter and also requested the RBI to direct the chiefs of the banks to transfer the money of Sahara firms to a designated SEBI account   Market regulator...

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Moneylife Digital Team 22 June 2013
Commenting on the development, ibiboGroup CEO Ashish Kashyap said: “We see this as an exciting market opportunity. Online penetration of the bus market is only 5.7% compared to 28% for air travel, suggesting headroom for rapid future growth” E-commerce firm ibiboGroup on Friday said it...

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Moneylife Digital Team 21 June 2013
Pan Asia Advisors and its promoter Panchariya and Indian companies created a scheme to mislead Indian investors about the inflow of foreign investment through GDRs   Market regulator Securities and Exchange Board of India (SEBI) has barred Pan Asia Advisors, now known as Global...

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Moneylife Digital Team 21 June 2013
Minority shareholders are once again at the receiving end after the company sells off its business to a multinational; auditors sign off on the accounts despite several glaring irregularities in the books. What is really going on? Laffans Petrochemicals (Laffans) is an example where...

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Moneylife Digital Team 21 June 2013
The Manmohan Singh government, which was so far gripped by policy paralysis on the economic front, is slowly stirring into some action as foreign investors have started to panic about the current account deficit and the falling rupee The United Progressive Alliance (UPA) government,...

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