REGULATIONS


Moneylife Digital Team 17 September 2014
Though contents of the report have been kept under wraps, there are indications that the gas price increase may be around 50%   A four-member committee of secretaries has submitted its report on a new gas pricing mechanism, prescribing a rate much lower than the doubling of price...

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Moneylife Digital Team 17 September 2014
Ford India increased price of its particular model in January, leading to the consumer accusing the carmaker abusing its dominant position   The Commission Commission of India (CCI) has rejected allegations against Ford India that it abused dominant position in the market for...

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B Vaidyanathan 17 September 2014
The government is planning sweeping changes in the Act, most of which are highly regressive   The Consumer Protection (Amendment) Act, 2014, as made available in the website of Department of Consumer Affairs, has certain serious flaws, which will neither benefit the consumer nor the...

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Paul Kiel (ProPublica)  and   Chris Arnold (NPR) 17 September 2014
Critics say the 1968 federal law that allows collectors to take 25% of debtors’ wages, or every penny in their bank accounts, is out of date and overly harsh   This story was co-published with NPR. Like any American family living paycheck to paycheck, Conrad Goetzinger and...

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Will whistleblowers’ missives work?   Even as Subrata Roy is working on a 15-day extension to meet the Supreme Court’s condition to release him from jail, a whistleblower has, after many efforts, managed to catch RBI’s attention on the issues at Sahara India Financial Corporation...

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Will it stop wilful default this time?   The notification of the Reserve Bank of India (RBI)—that individuals and companies who fail to honour guarantees provided to wilful defaulters can also be charged with ‘wilful default’—is welcome and long overdue. Especially since the...

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Moneylife Digital Team 11 September 2014
While censuring BSE for lapses during NMDC's Rs6,000 crore OFS, the market regulator has asked the Exchange to conduct independent review for remedial steps   Market regulator Securities and Exchange Board of India (SEBI) while censuring BSE for lapses during NMDC's Rs6,000 crore...

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Moneylife Digital Team 03 September 2014
While asking Haryana to cancel the allocation, the High Court had directed the Congress government to invite fresh bids for the 350-acre property     The Punjab and Haryana High Court on Wednesday asked Bhupinder Singh Hooda-led Haryana government to cancel allocation of 350 acres of...

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Moneylife Digital Team 03 September 2014
There are a few instances where defaulting borrowers diverted funds by opening multiple current accounts outside the members of the consortium that provided the debt   The Finance Ministry has asked Reserve Bank of India (RBI) to tighten lending norms to prevent borrowers from opening...

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Moneylife Digital Team 02 September 2014
The SEBI norms have provisions in relation to disclosures to be made in research reports, code of conduct, general responsibility and maintenance of records   Market regulator Securities and Exchange Board of India (SEBI) has notified norms for 'research analysts' to ward off any...

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RBI Issues Consumer Charter and then comes up with a new rule for ATM use that goes against consumer interests   The Reserve Bank of India (RBI) did two things in the last fortnight. It released a well-appreciated 5-point consumer charter (CC), and then, on 14th August, it issued a...

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Moneylife Digital Team 28 August 2014
According to SAT, if trades are executed due to negligence or breach of duty they cannot be considered material mistake and therefore not qualify for annulment   Holding on to the sanctity of trades on the exchanges, the Securities Appellate Tribunal (SAT) on Thursday upheld National...

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Moneylife Digital Team 28 August 2014
Giving more teeth to SEBI for clamping down on illicit money-pooling schemes and other frauds, the Government has notified a new law empowering the regulator   The union government has notied the Securities Laws Amendment Act that would empower market regulator Securities and Exchange...

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Moneylife Digital Team 27 August 2014
Gurgaon-based owner's association had alleged that DLF imposed highly arbitrary, unfair and unreasonable conditions on allottees of apartments, which had serious adverse effects and ramifications on the rights of the buyers   The Supreme Court on Wednesday, while upholding order from...

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Moneylife Digital Team 27 August 2014
SEBI said, Amrit Projects mobilised Rs10.38 crore while Magnox Infraprojects and Pinnacle Ventures collected Rs2.31 crore and Rs3.85 crore from investors   Market regulator Securities and Exchange Board of India (SEBI) restricted three companies -- Amrit Projects (NE) Ltd, Magnox...

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Moneylife Digital Team 26 August 2014
The CCI penalised 14 carmakers, including Tata Motors, Maruti Suzuki, Honda and General Motors for abusing their dominant position by making available spare parts only through their authorised dealers, who in turn sell them at higher rates   The Competition Commission of India (CCI)...

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Nicole Collins Bronzan (ProPublica) 26 August 2014
The wrongly convicted Jabbar Collins from Brooklyn will get his millions, but he won’t get his life back, and neither will his children or his family   It may seem to some a happy ending: A Brooklyn man wrongly convicted in a 1994 murder is at last cleared -- after serving 16 years in...

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Moneylife Digital Team 25 August 2014
In the wake of unearthing of multiple unauthorised deposit raising schemes and scams such as Saradha and PACL, the RBI feels there is a need to define deposits for entities other than banks   Reserve Bank of India (RBI) Deputy Governor R Gandhi on Monday said the Reserve Bank is...

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Moneylife Digital Team 25 August 2014
In 2011 The Economic Times had a front page report saying PACL had raised a whopping Rs20,000 crore. Who allowed it to continue raising additional funds and double the collection? It clearly requires a separate investigation   The Securities & Exchange Board of India (SEBI) last week,...

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Moneylife Digital Team 25 August 2014
The Supreme Court declared that all coal mining rights between 1992 and 2008 were assigned illegally by the government in a process that lacked transparency in the absence of a competitive bidding system or auction   The Supreme Court on Monday has said all coal block allocations...

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