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Moneylife Digital Team 26 April 2024
Bharatiya Janata Party (BJP) leader Dr Subramanian Swamy has approached the Supreme Court (SC) opposing the Union government's petition to modify the 2012 judgement on the telecom scam known as the 2G spectrum scam to avoid auction in the satellite spectrum. Nearly 12 years after the judgement,...

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Moneylife Digital Team 16 May 2024
Rejecting the Life Insurance Corporation of India (LIC)'s contention that the insured failed to disclose diabetes and an earlier operation for the removal of gall bladder, the national consumer disputes redressal commission (NCDRC) directed the insurer to pay Rs19.75 lakh, the entire death...

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Dinesh Dalmia, the notorious founder of the DSQ Software group, is back to his old tricks. After spending significant time in jail for fraud, stock manipulation and other legal transgressions in India and the US, he is once again embroiled in allegations of fraud. This time, he has allegedly...

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Moneylife Digital Team 14 May 2024
Pointing out the ambiguity in circulars issued by Indian Railways, the national consumer disputes redressal commission (NCDRC) directed Eastern Railway to refund the amount of the ticket along with compensation of Rs25,000 for deficiency in service as well as mental pain and agony suffered by...

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Moneylife Digital Team 15 May 2024
Upholding orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed United India Insurance Company Ltd to refund the excess premium charged from the policyholder for two years and pay Rs27,000 as compensation and cost of litigation.    In an order last...

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Shirish Shanbhag 17 May 2024
Encroachment is a common problem in cooperative housing societies (CHS/Society), where some members illegally occupy common spaces of the Society near their apartment or flat. Such encroachment can be a shed, a garden, a parking spot, or even a shoe rack placed in the common lobby.   

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In 2020, Reserve Bank of India (RBI) imposed crippling restrictions on HDFC Bank, India’s largest bank by market-capitalisation, sending shock waves throughout the banking industry. RBI asked the Bank to stop all digital business generating activity and sourcing new credit cards until it fixed...

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Moneylife Digital Team 09 May 2024
While upholding the orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed Bisleri International Pvt Ltd to pay Rs25,000 compensation to a customer who was sold a Bisleri bottle with contaminated water.   In an order last month, the NCDRC bench of Dr...

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Shirish Shanbhag 09 May 2024
There are times when owners choose to buy two adjoining flats and, for habitual convenience, merge them into a single flat (or a duplex flat if situated on separate floors). Amalgamation of flats is common but should be done only after seeking permission from municipal authorities. In most such...

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Moneylife Digital Team 10 May 2024
Transit rent received from builders during redevelopment projects is not taxable and thus is exempted from tax deduction at source (TDS) obligations, the Bombay High Court (HC) says.   In an order last month, the Bombay HC bench of justice Rajesh S Patil says, "The ordinary meaning of rent...

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Moneylife Digital Team 25 April 2024
While upholding orders passed by fora below, the national consumer disputes redressal commission (NCDRC) directed National Insurance Company Ltd to pay an insurance claim of Rs2.10 lakh for car theft and Rs30,000 for harassment and litigation expenses. NCDRC also rejected National Insurance's...

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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
Following the exposure of credit card data of nearly 17,000 customers, ICICI Bank Ltd says after blocking, it is issuing new cards to these customers and will also appropriately compensate a customer in case of any financial loss. The incident occurred following a security flaw in ICICI Bank's...

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Infrastructure Leasing and Financial Services Ltd (IL&FS), Dewan Housing Finance Corporation Ltd (DHFL), Reliance Capital Ltd and YES Bank, though a dozen more can be rightfully tagged to this ‘big-4’, cumulatively caused anywhere between Rs1 lakh crore and Rs1 lakh fifty thousand crore loss to...

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Last week, a former colleague called to seek guidance on handling calls she had received on WhatsApp from a 'police inspector'. She says the 'police inspector' told her that they had arrested a few youngsters in a rape case and wanted to know the whereabouts of her daughter. She found it fishy...

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This sector has, in the past years, attracted significant private money, both debt and equity, from structured funds like the alternate investment funds (AIFs). Many business groups and asset management companies (AMCs) like the Piramal, Essel, DHFL, Sundaram, IDFC, Reliance Capital, ASK,...

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Securities and Exchange Board of India (SEBI) has passed an order, termed interim, in the case of Linde India Ltd that may have far-reaching consequences from a corporate governance perspective, not only the company concerned but the corporate sector in general.   The implications of the...

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Dr Gopal Krishna 03 May 2024
“For the first time he perceived that if you want to keep a secret you must also hide it from yourself” with the government spying on its people, Winston struggles to conceal old feelings from Big Brother.   – p162, part 3, chapter 4, 1984, George Orwell, quoted at p.1 of the verdict in writ...

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In early March, alarmed by the flood of money rushing into small-cap funds, after a massive one-year bull run, the market regulator asked mutual funds to consider moderating flows and rebalancing portfolios, since the flows could make the market frothier. The Securities and Exchange Board of...

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The Ram mandir at Ayodhya is expected to secure a massive electoral victory for the Bharatiya Janata Party (BJP)-led government, but things are not going so well for Ajay Harinath Singh, founder of the Darwin Platform group of companies, who claims lineage to the Ikshavaku clan and a...

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