INVESTOR ISSUES


A massive sum of over Rs2 lakh crore of people's unclaimed money lies trapped with the government, poorly accounted for and frustratingly difficult to reclaim, either by the original owners or, more often, by their heirs. These unclaimed funds represent the hard-earned savings of ordinary...

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Moneylife Digital Team 30 August 2024
Asset transmission challenges will only increase as the country becomes prosperous and, hence, there is an urgency to address the issues, said KV  Kamath, renowned banker and non-executive chairman of Jio Financial Services. Mr Kamath released Moneylife Foundation's report on "Challenges in...

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Last week, finance minister (FM) Nirmala Sitharaman asked public sector banks (PSBs) to make concerted efforts to mobilise deposits through special drives because deposits have been lagging behind loan growth. By July-end, deposits grew 10.6% year-on-year compared to a 13.7% growth in loans....

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Moneylife Digital Team 30 August 2024
The investor education and protection fund (IEPF) under the ministry of corporate affairs (MCA), which impounds corporate benefits, shares and debentures that remain unclaimed after seven years, holds shares in 1,561 listed companies. As of 1 August 2024, IEPF's shareholding in these companies...

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Moneylife Digital Team 30 August 2024
Terming the freezing of demat accounts of two investors as 'a classic example of high-handed action and a reckless action', the Bombay High Court (HC) imposed a penalty of Rs80 lakh on market regulator Securities and Exchange Board of India (SEBI), Bombay Stock Exchange Ltd (BSE) and National...

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Moneylife Digital Team 30 August 2024
Taking stern action for failing to meet regulatory requirements, Securities and Exchange Board of India (SEBI) has cancelled the registration of 39 stockbrokers and seven commodity brokers. Further, SEBI cancelled the registration of 22 depository participants (DPs) who are no longer affiliated...

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Moneylife Digital Team 28 August 2024
In a shocking development that has rattled the investment community, police on Wednesday detained a suspect in connection with DB Stock Broking, a company alleged to have defrauded investors of nearly Rs7,000 crore, says a report from Deccan Chronicle.   According to the report, Monalisa Das,...

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Moneylife Digital Team 28 August 2024
Market regulator Securities and Exchange Board of India (SEBI) has ordered Green India Infra Projects Ltd (GIIPL) and the company's Chief executive officer (CEO) Sunil Kumar Panda (noticee), to refund Rs5 crore collected through the issuance of secured optionally convertible debentures (SOCDs)....

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Moneylife Digital Team 26 August 2024
The National Stock Exchange (NSE) has paid Rs1,118 crore towards settling 70,897 claims filed by investor clients of the top-10 defaulting brokers out of its investor protection fund (IPF) trust from 1 January 2019 to 22 August 2024. As expected, investor clients of Karvy Stock Broking Ltd...

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Moneylife Digital Team 21 August 2024
In a significant development, the Mumbai bench of the national company law tribunal (NCLT) on Wednesday approved ICICI Securities' delisting application, dismissing objections raised by Quantum Mutual Fund and minority shareholder Manu Rishi Gupta.   Under the approved scheme, ICICI...

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Moneylife Digital Team 21 August 2024
Market regulator Securities and Exchange Board of India (SEBI) has introduced a series of proposed reforms aimed at overhauling the rights issue process to make it a more attractive and efficient method for companies to raise funds. These proposed changes, detailed in a recent consultation...

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Sahyaja MS (Bar  and   Bench) 20 August 2024
The National Company Law Tribunal (NCLT) on Tuesday questioned why Anil Dhirubhai Ambani Ventures (ADAVL) had not objected earlier to the use of the 'Reliance' brand by Hinduja Group-owned IndusInd International Holdings (IIHL) during the resolution process of Reliance Capital.   "You had...

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Moneylife Digital Team 20 August 2024
In a recent address at the IADI Asia-Pacific Regional Committee International Conference 2024, deputy governor of the Reserve Bank of India (RBI) M Rajeshwar Rao highlighted the need for a periodic upward revision of the deposit insurance coverage limit which currently stands at Rs5 lakh. He...

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Moneylife Digital Team 16 August 2024
On Saturday, Hindenburg Research, a US-based short-seller, made strong allegations about the chairperson of the Securities and Exchange Board of India (SEBI) Madhabi Puri Buch (MPB), and her husband, Dhaval Buch. While Ms Buch and her husband have argued that there was no wrongdoing, the...

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Moneylife Digital Team 16 August 2024
In a significant decision in the ongoing ICICI Securities delisting controversy, the Bombay High Court (HC) last week directed the Securities and Exchange Board of India (SEBI) to disclose the exemption letter granted to ICICI Securities. This letter, which exempted the company from the reverse...

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Moneylife Digital Team 14 August 2024
National Stock Exchange (NSE) has increased the ceiling amount payable out of its investor protection fund (IPF) trust to Rs35 lakh from Rs25 lakh per investor per claim. This limit will be applicable for claims received against the trading members (TM) who have been declared defaulters or have...

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Moneylife Digital Team 11 August 2024
In a stunning allegation, US-based short seller Hindenburg Research claims that SEBI chairperson Madhabi Puri Buch had a stake in obscure offshore entities used in the Adani money siphoning scandal. Ms Buch, however, 'strongly' denied the 'baseless' allegations and insinuations made in the...

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All good things must come to an end; and this applies to governments, markets and exchanges alike. Recent global developments have underscored this truth. India’s stock market, which has been the big shining spot for the Narendra Modi-led government, finally cracked under the impact of a stock...

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Moneylife Digital Team 08 August 2024
Market regulator Securities and Exchange Board of India (SEBI) has barred Ajay Kumar Chaddha (noticee) for two years for providing illegal investment advisory services. While slapping a fine of Rs6 lakh, SEBI also asked Mr Chaddha to refund over Rs25 lakh collected as fees from clients or...

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Moneylife Digital Team 05 August 2024
Investors of Sahara India Real Estate Corp Ltd (SIRECL) and Sahara Housing Investment Corp Ltd (SHICL) have not paid any money after December 2021, while investors of PACL Ltd   have been paid over Rs1,021 crore. According to a reply by finance minister (FM) Nirmala Sitharaman in the Lok Sabha,...

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