REGULATIONS


The state government filed a review petition on April 7 seeking a stay on the March 30 order of Justice B.V. Nagarathna to the SEC for holding the civic poll by May 30, as its five-year term was ending on April 22   The Karnataka High Court on Friday put off elections to the city's...

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Deutsche Bank has agreed to pay a $2.5-billion fine to settle US and British accusations that more than 20 employees engaged in a "widespread effort" to rig benchmark interest rates for profit between 2005 and 2009, officials said on Thursday.   New York State's Department of...

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The government is considering clarificatory amendments to the rules on minimum alternate tax (MAT) for the benefit of foreign investors who are faced with retrospective capital tax gains demands worth Rs.40,000 crore.   "Clarificatory amendments to MAT rules are under consideration of...

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Moneylife Digital Team 23 April 2015
Any offer of securities made to 50 or more persons has to be construed as a “Public Offer” under the provisions of Companies Act, 1956, points out SEBI in a release   Some unlisted companies are luring retail investors by issuing  securities  including non-convertible debentures/...

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The Commercial Divisions will exercise jurisdiction over all cases and applications relating to commercial disputes   In a move aimed to speed up the disposal of commercial suits and take into consideration the Law Commission's recommendations on the matter, the union cabinet on...

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Moneylife Digital Team 22 April 2015
Sri Ganesh Stocks, C Venkatesan and Vijaya Bharathi had acted as unregistered stock broker, sub-broker and also indulged in portfolio management services without obtaining registration from SEBI, according to a SEBI Order   SEBI in its order against Sri Ganesh Stocks and Shares, C...

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The new rules in Maharashtra want builders to sell by ‘carpet area’. But is the government really serious?    Property-buyers in India are generally taken for a ride, or taken for granted. The Consumer Protection Act, 1986 (the Act), was supposed to provide relief; but implementation...

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Moneylife Digital Team 21 April 2015
The company was engaged in fund mobilising activity through issue of Redeemable Preference Shares to more than 49 persons without complying with the provisions of the Companies Act, 1956, according to a SEBI Order on Affiance Industries Limited   SEBI passed an order on Affiance...

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Moneylife Digital Team 21 April 2015
The company was engaged in fund mobilising activity through issue of Redeemable Preference Shares to more than 49 persons without complying with the provisions of the Companies Act, 1956, according to a SEBI Order on Polaris Agro Industries   SEBI passed an Order with respect to...

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An industries department official told IANS on the condition of anonymity: 'A show-cause notice has been issued to the company on land allocation'   The Tamil Nadu government has cancelled the land allotted to Hindustan Coca Cola Beverages Pvt Ltd for its plant in Erode district, said...

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Moneylife Digital Team 16 April 2015
Pune Stock Exchange is the thirteenth Stock Exchange to exit under this SEBI policy, says a release from SEBI   SEBI (Securities and Exchange Board of India) has passed an Order on 13 April 2015 providing the exit to Pune Stock Exchange Limited (PSE). PSE is the thirteenth Stock...

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Moneylife Digital Team 16 April 2015
ERIL Mutual Benefit India Limited and its promoters/directors, including Biplab Kumar Dey,  Juthika Ghosh and Chandan Sinha Roy, are restrained from mobilizing funds through the issue of equity shares or through any other form of securities, to the public, according to a SEBI...

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Moneylife Digital Team 15 April 2015
Ex-servicemen demand right to appeal to High Courts as fundamental right exercised by other citizens, against an order of SC making Armed Forces Tribunal the first and last forum for them    The Indian Ex-Servicemen Movement (IESM), which is Federation of Military Veterans' Movement,...

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Nidhi Bothra 14 April 2015
In an environment where securitisation is considered to be done and written off, the amendments on public offer and listing of securitised debt instruments by SEBI are highly inconsequential   Market regulator Securities Exchange Board of India (SEBI) on 9 April 2015 amended the...

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A ray of hope for hapless homebuyers   The Union Cabinet has cleared The Real Estate (Regulation & Development) Bill which had been languishing under the United Progressive Alliance government. The Cabinet clearance comes at a time when there is irrefutable evidence of a severe...

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Moneylife Digital Team 14 April 2015
Now even big corporates can manufacture pickles and chutneys, wooden furniture, exercise books and registers, wax candles, agarbatties and glass bangles that were monopoly of the MSME segment   The union government has removed remaining 20 items like fireworks, safety matches, bread,...

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Market regulator SEBI on Monday barred Kolkata-based I-Nova Solutions Ltd (INSL) and its directors from accessing the capital market.   "The company shall not mobilize funds from investors. Further, the company and its directors are prohibited from issuing prospectus or any offer...

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While the country's installed power generation capacity is around 250,000 MW from all sources, the government has set a target of generating 175,000 MW from renewable sources by 2022, including 100,000 MW from solar power   The NITI Aayog will soon come out with an integrated policy...

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If the generation of black money is not curbed, the new law will be just another amnesty scheme and tool for tax terrorism   The Narendra Modi government swept into power on the promise that it would provide minimum government, maximum governance and help bring back the vast hoards of...

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Moneylife Digital Team 10 April 2015
The Real Estate Bill passed by the Modi cabinet, would bring some accountability among realty players. However, government agencies whose slow approval processes delay projects, would remain as unaccountable as before   The union cabinet, chaired by Prime Minister Narendra Modi, on...

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