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Six months after Karvy Stock Broking Ltd (Karvy) was expelled by the National Stock Exchange (NSE) and declared a defaulter, there is almost no legal action against the firm by retail or institutional investors. This is because C Parthasarathy, its group chairman, has reached out to people...

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Moneylife Digital Team 07 October 2021
The issues with the  new income-tax (I-T) website, handled by Infosys Ltd, do not seem to end the harassment and agony being faced by taxpayers and chartered accountants (CAs). The latest in the 'technical glitch' of the I-T website is sending notices to taxpayers under Section 143(1); these...

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Ranganathan V Ranganathan V 01 October 2021
In the past few days, many media reports have celebrated the completion Deewan Housing Finance Ltd (DHFL) acquisition by the Piramal group under the bankruptcy process. DHFL was one of the most infamous candidates coming up for resolution under the Indian Bankruptcy Code (IBC), with the...

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Moneylife Digital Team 07 May 2022
Update: 6 May 2022 15.50 hrs to include a response from Axis MF   Axis Mutual Fund (MF) has removed its head trader Viresh Joshi as fund manager from five schemes. Similarly, Deepak Agarwal, the assistant fund manager for equity at Axis MF, is no longer part of schemes like Axis...

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On 6 May 2021, Grant Thornton’s Project Icarus submitted the forensic audit of IL&FS Engineering and Construction Company Limited (IECCL), exposing more scandals and internal collusion to cover up wrongdoing and losses, going back almost a decade to 2011-12.    But the report also has...

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Sucheta Dalal Sucheta Dalal 01 October 2021
The proposed quick-fix marriage between Zee Entertainment Enterprises Ltd (Zee) and Sony Pictures Networks (Sony) is not turning out to be the ‘happily-ever–after’ story, as yet, even as the alliance itself seems to have drawn universal approval. Far from accepting the merger, with Punit...

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Moneylife Digital Team 03 September 2021
Traders on the National Stock Exchange (NSE) are a worried lot currently. They are spooked by the increasing frequency of freak trades on the NSE derivatives segment (many of which have coincidentally happened on a Friday) leading them to be afraid of “Freaky Fridays”.    Last week,...

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Sucheta Dalal Sucheta Dalal 16 June 2021
On 26th May, the Bombay Stock Exchange (BSE) published an advertisement announcing plans to delist 50 companies from the Exchange (see list below). These are companies that have failed to comply with various regulations and have been suspended for over six months. The Exchange sends a couple...

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Sucheta Dalal Sucheta Dalal 16 April 2022
A few weeks ago, the movie Kashmir Files was released to an unprecedented blaze of publicity. State governments controlled by the Bharatiya Janata Party (BJP) competed to give it tax-free status; the prime minister (PM) and top political leaders spoke about it and special shows were organised...

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Sucheta Dalal Sucheta Dalal 11 November 2021
Are you missing out on “the biggest financial revolution in modern history which will forever change the way monetary transactions are executed?” Or you may be falling prey to an orchestrated sales pitch by the crypto industry to make a very risky investment.   Research shows that...

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Dr Rajendra M Ganatra Dr Rajendra M Ganatra 07 February 2022
“A higher valuation could have been achieved but we decided to price it at a level where everyone makes money,” said Madhur Deora, group chief financial officer at Paytm, after the public issue. The stock was issued at Rs2,150, got listed at Rs1,950, hit a high of Rs1,955 and then went into a...

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Debashis Basu Debashis Basu 30 March 2021
According to a media report, the scam-ridden Franklin Templeton Mutual Fund (FTMF) has placed its hands on its holster in a preemptive move to avoid punishment for its actions in India. It has indirectly threated the Indian government that if the market regulator dares to levy ‘unfairly large...

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Moneylife Digital Team 15 June 2021
When the Union government announced launch of new website of income tax (I-T) department, taxpayers were expecting some better functionality and ease. However, as if the delayed launch were not enough, the new portal, www.incometax.gov.in, continues to frustrate taxpayers with technical...

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Moneylife Digital Team 07 May 2021
Death in a family is an unsurmountable loss to family members and it takes a lot of time to come to terms with it. We have observed that accessing fixed deposits (FD) of the deceased person often becomes a long drawn, stressful process for legal heirs even as they grapple with their grief....

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Moneylife Digital Team 29 June 2021
In January 2021, India Pesticides Ltd (IPL) issued 3,71,380 shares at Rs33.7 per share amounting to a total of about Rs1.25 crore to two individuals, Arun Kishanlal Bagaria and Madhu Arun Kumar Bagaria, who are relatives of one of IPL’s directors, Rahul Arun Bagaria. Rahul Bagaria was...

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Sucheta Dalal Sucheta Dalal 06 January 2022
Does the last day of 2021 portend what is in store for 2022? If yes, we are in for tougher times. On 31st December, I had tweeted how chartered accountants (CA), as a community, had erupted in anger over the dysfunctional income-tax (I-T) portal on the last day for filing returns. The...

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The past two years after global lock-downs were triggered by the COVID-19 pandemic, India's investor population has almost doubled due to the rush of new investors. Strangely, however, the brokerage business is seeing a huge churn with scores of broker defaults and even more trading members...

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Moneylife Digital Team 28 April 2021
Proving all tech experts right, the Co-WIN a platform used by Central government for registration of COVID-19 vaccine and booking appointments, crashed as soon as it started registrations for those above 18 years. Further, for all those who are registering, the platform failed to show any...

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Moneylife Digital Team 16 September 2022
Syndicate Bank was one of the country's oldest and major commercial banks in which the Union government held nearly 85% stake. Syndicate Bank has now been merged with Canara Bank, another public sector bank (PSB).   However, Syndicate Bank's risk assessment and inspection reports from...

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The Reserve Bank of India (RBI) introduced its Banking Ombudsman (BO) Scheme as an expeditious and inexpensive forum for bank customers for the resolution of complaints relating to certain services rendered by banks.   However, over the years, the BO is also proving to be a white...

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