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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Capital market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty on IL&FS Securities Services Ltd (ISSL) and Allied Financial Services Pvt Ltd (AFSPL) over their involvement in fraudulent transfer of mutual fund (MF) units from the client's accounts. SEBI has...

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Investment advisors cannot manage funds as well as securities on behalf of their clients and should not contemplate about asking power of attorney in this regard, the Securities and Exchange Board of India (SEBI) has clarified. Investment advisors can only provide investment advice to...

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Catalyst Trusteeship, the debenture trustee for non-convertible bonds (NCDs) issued by two Srei group companies has sent an email to all NCD holders late last night. The mail is seeking the consent of debenture holders for voting (on their behalf) in favour of or against the ‘scheme of...

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The Mumbai bench of the National Company Law Tribunal (NCLT) has directed Reliance Home Finance Ltd (RHFL) to refund to 18,959 debenture holders money they had invested along with interest within the next five months.   The NCLT order, which comes as a relief for hapless bondholders,...

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A public interest litigation (PIL) filed against the Securities and Exchange Board of India (SEBI) in the Dewan Housing Finance Ltd (DHFL) matter came up before the bench of chief justice Sanjib Banerjee and justice Senthilkumar Ramamoorthy of the Madras High Court (HC) on Tuesday. The Madras...

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The committee of creditors (CoC) of the beleaguered Dewan Housing Finance Ltd (DHFL) has voted against a proposal that sought to increase payouts to fixed depositors and non-convertible debenture(NCD) holders in the company. A proposal to repay the Rs39 crore claim by the Army Group Insurance...

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In a relief for PNB Housing Finance, the Securities Appellate Tribunal (SAT) has allowed voting by its shareholders on the proposed preferential issue worth Rs4,000 crore to entities led by The Carlyle Group Inc.   The extra-ordinary general meeting (EGM) of the company is scheduled...

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