INVESTOR ISSUES


In what appeared to be a landmark move, India introduced class action lawsuit through Section 245 of the Companies Act of 2013; but it has remained a purely theoretical concept for 11 long years. Are things beginning to change? Two recent cases filed by minority investors are holding out hope that...

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Moneylife Digital Team 17 May 2024
The booming market for pre-IPO placements, particularly in small and micro-cap companies, has been jolted by market regulator Securities and Exchange Board of India (SEBI), making merchant bankers and high net-worth individual (HNI) investors anxious. Referring to Section 42(2) of the Companies...

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Last year, the Darwin Platform group of companies, owned by 'Prince of Sultanpur' Ajay Harinath Singh, bought Lavasa, the picturesque hill station city in Maharashtra, through the bankruptcy resolution process for just Rs1,814 crore to be paid over eight years. Mr Singh claims that the Darwin...

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Although a recent central information commission (CIC) order has given a clean chit to the central public information officer (CPIO) of the ministry of cooperation, on the grounds that the CRCS-Sahara India refund portal has all the details of the disbursal of the depositors’ refund claim of...

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Moneylife Digital Team 09 May 2024
Securities and Exchange Board of India (SEBI) has barred 10 entities, including Indus Weir Industries Ltd (IWIL) and its directors, for three years for indulging in a fraudulent scheme of raising funds from investors by issuing non-convertible redeemable preference shares (RPS) without...

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Moneylife Digital Team 29 April 2024
While refusing to intervene in the 2020 merger of Tamil Nadu-based Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL), the Madras High Court (HC) has asked the Reserve Bank of India (RBI) to conduct a fresh valuation of the assets and shares of both LVB and DBIL to determine any reduction...

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Once again, an anonymous source at the Indian capital market regulator has leaked information to a leading news agency about a price-sensitive investigation. Indeed, this is a case where the Supreme Court had felt the need to constitute an ‘expert’ committee to examine whether there was...

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Moneylife Digital Team 26 April 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs15 lakh on Chennai-based stockbroker Maxpro Asia for misusing clients' funds and failing to settle accounts of 30 clients.   In an order, Barnali Mukherjee, adjudicating officer (AO) of SEBI, "The evidence...

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Moneylife Digital Team 22 April 2024
On 22nd April, the national company law tribunal (NCLT) in Delhi accepted Indiabulls Housing Finance's (IBHF) petition for personal insolvency against Subhash Chandra, the chairman emeritus of Zee Entertainment Enterprises Limited (ZEEL), due to guarantees provided to Vivek...

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Moneylife Digital Team 22 April 2024
In a significant development, a special PMLA (Prevention of Money Laundering Act) court in Mumbai has granted bail to Yes Bank co-founder Rana Kapoor in a Rs400-crore loan fraud case. The decision, while marking a pivotal moment in Mr Kapoor's legal saga, also raised questions about the...

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Chandramouli Mohan 20 April 2024
Have you ever received an SMS or email from your bank informing you that your account is frozen, for want of know-your-customer (KYC) or re-KYC? You are not alone. This has happened to the Moneylife Foundation also.   Mind you, the Reserve Bank of India (RBI) has never directed or suggested...

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Moneylife Digital Team 20 April 2024
The refund process for Sahara investors, initiated by the Indian government early last year, has been facing tremendous delays, with a significant number of investors yet to receive any payout from the central registrar of cooperative societies (CRCS) online portal.    With great anticipation...

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Moneylife Digital Team 12 April 2024
The Delhi high court (HC) has ordered the taking down of a “fraudulent website” impersonating Tata Sons Pvt Ltd and luring customers to invest in their Ponzi investment scheme. Last month, Moneylife had warned about Tata Restart, a Ponzi, collective investment scam that has been misusing the...

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Moneylife Digital Team 10 April 2024
Over the past few days, some videos have been circulating on social media in which Ashaishkumar Chauhan, managing director and chief executive officer (MD&CEO) of the National Stock Exchange (NSE), is seen recommending some stocks for investment. However, the Exchange says all these videos are...

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Moneylife Digital Team 08 April 2024
Market regulator Securities and Exchange Board of India (SEBI) has ordered Ravindra Bharti Education Institute Pvt Ltd, an unregistered investment advisory business set up by financial influencer Ravindra Balu Bharti, to disgorge unlawful gains of Rs12.03 crore.    In an order, Kamlesh C...

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Shirish Shanbhag 21 March 2024
Among the various expenses that home-buyers are expected to bear are transfer charges or collector's fees if the cooperative housing society (CHS/Society) is built on land owned by the district collector. The requirement to pay such transfer charges depends on various conditions, including the...

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Circa 1929: Legend has it Joseph Kennedy, a smart market player, was offered stock tips from a shoe-shine boy, leading him to sell all his holdings before the October 1929 crash. Kennedy, later the first chairman of the US SEC (Securities and Exchange Commission), reasoned that if shoe-shine...

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Moneylife Digital Team 12 March 2024
Ahmedabad-based high net-worth individual (NHI) investor Seetha Kumari has won an arbitral award worth Rs33.64 crore against Bajaj Finance Ltd for breach of contract and selling her pledged shares at a low price, says a report from Economic Times (ET). The arbitration award would affect the...

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The financial regulator on Monday unveiled a set of plans that advise banks and brokerages to compensate losses from derivative products tracking Chinese stocks listed on the Hong Kong exchange.   The Financial Supervisory Service (FSS) said its preliminary inspection, conducted for...

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The Reserve Bank of India (RBI) on Tuesday issued a set of frequently asked questions (FAQs) about its UDGAM portal to help people recover their funds that are stuck in unclaimed deposits/ accounts with banks.   The six FAQs cover in detail the centralised information that is...

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