COMPANIES & SECTORS


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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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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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 airport project contract awarded to GMR for modernising and operating the Ibrahim Nasir International Airport, signed in 2010 during the previous regime of Mohamed Nasheed, was ‘unilaterally’ terminated by the current government on 27th November last year Indian infrastructure major...

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Moneylife Digital Team 21 June 2013
“There will be small increase in power tariff. It will be very marginal increase on unit cost of power depending upon the cost of import of coal,” finance minister Chidambaram said Electricity tariff across the country will increase by a minimum 15 to 17 paise per unit after the...

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Moneylife Digital Team 21 June 2013
The Cabinet Committee on Economic Affairs (CCEA) has cleared 5% stake sale of Neyveli Lignite through an offer for sale so that the company can meet the SEBI deadline on public shareholding The government today approved the government’s 5% stake sale in Neyveli Lignite (NLC), which would...

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Moneylife Digital Team 21 June 2013
Vodafone is second to get spectrum allocation among firms that participated in the November 2012 auction.  Videocon was the first company that received spectrum from DoT in March, while rest of the firms are yet to receive spectrum   The government has allocated spectrum to Vodafone...

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The tendency to obtain prized allocations for much-needed coal but not do any development work causes legitimate users to suffer and national progress is impeded. Lame excuses will no longer be tolerated Last year, Union coal minister Sriprakash Jaiswal finally took the bold step of...

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