COMPANIES & SECTORS


Moneylife Digital Team 29 May 2013
Maharashtra State Consumer Disputes Redressal Forum has upheld a lower court order which asked the private mobile service provider to pay Rs20,000 compensation and Rs5,000 costs to a doctor for failing to stop unsolicited commercial phone calls. Dr Ashish Gala had registered with Vodafone on...

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Moneylife Digital Team 29 May 2013
A consumer court in Tripura has ordered Cadbury India to pay a compensation of Rs30,000 to a complainant who found an iron pin inside a chocolate bar made by the company. The consumer purchased a Cadbury chocolate on 16 December 2011, for his three-year-old daughter and found an iron pin...

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Moneylife Digital Team 29 May 2013
The New Delhi District Consumer Disputes Redressal Forum has imposed a fine of Rs5.5 lakh as compensation and cost of litigation for the harassment caused to Naduthodi Janardanan on Hong Kong and Shanghai Banking Corporation (HSBC) for keeping its customer’s already settled loan account...

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Moneylife Digital Team 28 May 2013
Corporate credit stress is reflected by the Indian banking system’s gross non-performing assets (NPA) and restructured loans, according to India Ratings & Research India Ratings & Research (Ind-Ra) expects corporate credit stress for FY14 to be at levels comparable to FY13, under its...

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Moneylife Digital Team 28 May 2013
Starting operations from this June, Honda’s new plant shall have 12 lakh units production capacity in Phase I Honda Motorcycle & Scooter India Pvt Ltd (HMSI), the second largest two-wheeler company in India inaugurated its most advanced and latest third two-wheeler production plant at...

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Moneylife Digital Team 28 May 2013
During her examination by the CBI prosecutor, Radia told the court that at the time of grant of licences, dossiers were in circulation which said Swan Telecom Pvt Ltd belonged to Reliance Communications Appearing in the court for the first time, former corporate lobbyist Niira Radia...

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Moneylife Digital Team 27 May 2013
The consolidated net profit of the PSU for the year ended 31 March 2013 also went up to Rs17,356 crore against Rs14,788 crore in the previous fiscal   State-owned Coal India (CIL) today reported almost 35% rise in the consolidated net profit at Rs5,413.9 crore for the fourth quarter...

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Moneylife Digital Team 27 May 2013
Amway India chief William Scott Pinckney and two other directors are arrested by Kerala Police over financial irregularities Crime Branch officials of Kerala police arrested Amway India’s managing director and chief executive William Scott Pinckney and two other directors of the...

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Moneylife Digital Team 27 May 2013
DoT, in its contempt plea, had said that instead of complying with the orders passed by the high court, Idea Cellular had filed an additional affidavit stating that it has “additionally decided” to provide 3G services to those existing customers who meet the criteria The Delhi High Court...

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Moneylife Digital Team 27 May 2013
iGate, which was in news for sacking of its chief executive Phaneesh Murthy over non-disclosure of his alleged affair with a subordinate, said these demands are not tenable and the Nasdaq-listed firm has approached the requisite appellate authorities After WNS and Infosys, iGate is the...

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Mohan Siroya 27 May 2013
Who is monitoring the implementation of quality of services and in cases of violations, what the TRAI is doing? If a service provider explicitly or deliberately violates the QOS, it gets immunity till the violation is set right and no penal action for such anti–consumer act is transparently...

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Moneylife Digital Team 27 May 2013
As per the norms, life and general insurance companies with a minimum net worth of Rs500 crore and Rs250 crore, respectively, can apply for setting up of foreign business The Insurance Regulatory and Development Authority (IRDA) has allowed insurers with sound financial health and a...

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Moneylife Digital Team 27 May 2013
Justifying the decision to treble LIC’s investment limit, Financial Services secretary Rajiv Takru said the insurance major was sitting on trillions of rupees which have to be invested The government will soon notify the increased equity exposure limit for Life Insurance Corporation of...

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Moneylife Digital Team 25 May 2013
Though RIL-BP did not put any reserves to the discovery, the find may possibly be the largest single discovery in the country. The discovery, which was notified to the regulatory authorities yesterday afternoon, has been named D-55 Reliance Industries (RIL) and its partner BP Plc of the...

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Moneylife Digital Team 24 May 2013
Pressure on NPAs, especially for public sector banks will continue as more loans turn into non-performing assets due to the overall slowdown in the Indian and global economy, says a study by NPAsource   Net non-performing assets (NPAs) or bad loans of 39 listed banks increased by a...

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Moneylife Digital Team 24 May 2013
According to Nomura, the US immigration bill, if passed, would place the Indian IT business model at competitive disadvantage compared with MNCs and depress margins irrevocably   The overriding factor in the information technology (IT) sector currently remains the overhang due to the...

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Moneylife Digital Team 24 May 2013
Price hikes of CNG and domestic PNG enabled blended EBITDA margins to remain resilient for Indraprastha Gas, says Nomura Equity Research in its Quick Note. A favourable Supreme Court decision on the PNGRB’s appeal against the Delhi High Court order is a must for restoring investor confidence...

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Moneylife Digital Team 24 May 2013
Dish TV now is clearly focusing on profitability and cash flow over immediate market share, says Nomura Equity Research in its Quick Note   Dish TV’s standalone results were ahead of expectations but missed consensus expectations at the operating level, said Nomura Equity Research in...

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Moneylife Digital Team 24 May 2013
For the financial year ended 31 March 2013, the steel giant reported a consolidated net loss of Rs7,057.62 crore as against a net profit of Rs5,389.77 crore, largely due to the $1.6 billion impairment   Tata Steel reported a consolidated net loss of Rs6,528.51 crore for the quarter...

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Moneylife Digital Team 23 May 2013
Upholding judgements of the district and state forums, the National Consumer Commission directed Shriram Finance Co and Citicorp Finance to pay a punitive cost of Rs25,000 for inordinate delay in filing their appeal   The National Consumer Disputes Redressal Commission (NCDRC) while...

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