Updated to include a response from ICICI Securities on resolving the issue   Many customers of ICICIdirect on Monday faced issues with login and placing orders on the website. ICICIdirect says the issues were due to system upgradation, and its services were not available. Even the...

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Chinese hackers and fraudsters have found a new way to steal banking credentials of Indians and dupe them in the name of investing money in an angel fund scheme of the World Bank.   The World Bank has issued an advisory cautioning people about the use of its name in this fraudulent...

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I was tagged in a Twitter interaction last week, which had elements of tragedy, comedy, stupidity and ignorance—all rolled in one. The persons involved are not important; it is the responses that are worrying. The queries and comments need explaining, even if you want to see only humour in a...

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The death of a family member is an emotionally traumatic time for families  and is often further complicated by harrowing legal and financial procedures.   The family has to battle several challenges—transfer of assets on death of the holder, reconstructing the financial records of...

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Over the past two days, confused and angry DHFL investors were flooding social media with complaints of not receiving payments as per their claims. Many complained of having received a raw deal by receiving a far lower amount (compared to what they were anticipating).   Catalyst...

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In a huge relief for fixed deposit (FD) investors and non-convertible debenture (NCD)-holders of Dewan Housing Finance Corporation Ltd (DHFL), the repayment process has already started.   While many people have expressed their satisfaction at having received almost their full...

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The resolution process of the beleaguered Dewan Housing Finance Ltd (DHFL), apparently in its final stages, is causing a lot of anxiety among investors. While holders of non-convertible debentures (NCDs) are expected to be repaid in a couple of days, the unexplained debits and credits in...

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Over the past few years, 80-odd companies have faced the ignominy of having their decisions overturned by collective action of institutional or retail investors. In a remarkable case last week, which could be a turning point of sorts in the battle for better management accountability, large...

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In yet another example of shareholder activism, almost 90% of stakeholders, mainly institutions and the public, have rejected a proposal to delist Allcargo Logistics Ltd.    Promoters of Allcargo Logistics, including Shashi Kiran Shetty, Aarthi Shetty, Adarsh Hedge, Priya Hedge, and...

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It might be a catchy slogan, but it's not a universally good idea.   As a streaming-only household, my partner and I receive targeted ads based on our browsing and viewing habits. Marketers have accurately placed us as squarely in our mid-20s, which means that roughly every other ad...

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The Securities and Exchange Board of India (SEBI) took up 94 new cases for investigation of alleged violation of securities market regulations in the last financial year.   In its annual report for 2020-21, the capital market regulator said that it completed investigation of 140 cases...

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Giving a big relief to nominees of a depositor of Senior Citizen Savings Scheme (SCSS), the Indian Banks’ Association (IBA) has asked its member banks not to levy any penalty on withdrawal from the scheme by a nominee or legal heir after the death of the account-holder.   In a...

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The National Company Law Appellate Tribunal (NCLAT) has refused to grant a stay on the implementation on Piramal Capital and Housing Finance Ltd's resolution plan for troubled mortgage lender Dewan Housing Finance Ltd (DHFL). Mumbai-based financial services company 63 moons technologies Ltd...

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The Union government says Justice (Retd) RM Lodha committee appointed by the Supreme Court had received about 1.50 crore claim applications from investors of PACL Ltd and is refunding money phase-wise and claim amount-wise depending upon the corpus available.   Responding to a...

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Market regulator Securities and Exchange Board of India (SEBI) has barred Global Infratech and Finance Ltd (GIFL), the company directors and 12 other individuals from the securities market for their roles in a fraudulent scheme of trading in the firm's shares.   The company (GIFL) and...

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On Saturday, LIC Housing Finance (LICHFL) issued a clarification regarding its preferential issue proposal claiming there is no violation of the provisions of the Articles of Association (AOA).   Despite this, LIC Housing Finance Limited has been denied permission to release the...

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Keeping the government's plan to come up with the mega initial public offer (IPO) of insurance major, Life Insurance Corporation of India (LIC) in the ongoing financial year intact, the Cabinet committee of economic affairs (CCEA) has given in-principle approval to the IPO.   A top...

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The latest resolution proposing higher payouts to unsecured creditors including Axis Bank, Yes Bank and L&T Finance has been vehemently rejected by the committee of creditors (CoC) of Dewan Housing Finance Ltd (DHFL). From the copy of the results Moneylife has accessed in the Smartroom...

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For a majority of investors, once they invest their hard-earned money, there is no guarantee that they would receive good returns. In fact, many struggle to even get their principal (investment) amount itself from the entity. Here is an inspiring story of a small group of investors, who...

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The committee of creditors (CoC) of Dewan Housing Finance Corporation Ltd (DHFL) has started a new round of voting on yet another proposed new distribution mechanism. The latest round of voting started at 8am on  Wednesday (7th July) morning and will end at 5pm on Thursday (8th July)...

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