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IANS 12 September 2023
The Bombay High Court has upheld a senior citizens maintenance tribunal's (SCMT's) order revoking two gift deeds executed by a senior woman in her son’s name, for failing to care for her, and directed him and his wife to vacate the property.   Justice Sandeep V Marne also said that...

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Moneylife Digital Team 27 June 2023
Reserve Bank of India (RBI) has imposed a total penalty of Rs1.01 crore on all four credit information companies (CICs) for inaccurate and incomplete data and not updating credit information within 30 days after receiving complaints from borrowers.   TransUnion CIBIL Ltd is asked to...

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Moneylife Digital Team 12 May 2023
Holding Deloitte Haskins & Sells LLP and CJ Goswami & Associates, the secretarial auditor of Sun Pharmaceutical Industries Ltd (Sun Pharma), responsible for not reporting related-party transactions of Sun Pharma with its sole distributor and promoter entity Aditya Medisales Ltd, the registrar...

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In February 2014, some of you may remember how a member of Parliament (MP) sprayed pepper spray on his colleagues right inside the Lok Sabha. He even referred to them as a mob in a television interview (Who is 'pepper spray' Rajagopal?).    This Congress MP, Lagadapati Rajagopal, was...

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I wrote last week that the Supreme Court (SC)-appointed expert committee on the Adani-Hindenburg Research saga had ended up making a powerful legal case for why the Securities & Exchange Board of India (SEBI) would draw a blank (Adani Stock Saga: Clean Chit by SC Committee Raises Questions &...

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Abhay Datar 25 March 2023
The great news for employees provident fund organisation (EPFO) contributors and pensioners is the changes made in the EPFO as directed by the Supreme Court for higher pensions.   Though most of them might have gone through the new provisions, we would like to highlight important...

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The year was 1993; I was working at CRISIL Ltd. That year, we saw quite a few interesting ‘structured’ obligations that had come to us for rating. One, that was my favourite, was this:   Lokhandwala Construction Industries Ltd (LCIL), a reputed builder, announced a large housing project...

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Last week, Himalaya Wellness Corporation (Himalaya) filed a defamation suit against Cyriac Abby Philips, a hepatologist for his scathing public comments on Liv52, Himalaya’s flagship brand launched in 1955. The company obtained an ex-parte injunction leading to the suspension (in India) of...

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Track rainfall, tropical storms, hurricanes, severe weather, wildfires and more. Watch LIVE satellite images with the latest rainfall radar. Explore beautiful interactive weather forecast maps of wind speed, pressure, humidity and temperature. You can directly search for a place or even look...

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Back in February 2021, I had written an article in this magazine titled “Flogging a Dead Horse” – about Kolkata’s tram company.   Actually, this company has just 2,000 people and Rs15 crore of annual loss. Hence, it is not quite horse-sized—maybe just a little pony.   What...

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Thirty years after the securities scam, Harshad Mehta’s story is attracting a lot of public attention after a selectively sympathetic portrayal of the Big Bull operator in a hugely popular television series; but it also showcases our inability to resolve major financial scandals.   An...

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It has been a bad fortnight for the market regulator as its tardy investigations, poor supervision and legally weak or poorly justified orders of the past decade or more have come up for scrutiny in this short period.   “Why has SEBI been a silent operator?” thundered Mahua Moitra,...

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Suspended special judge of the PMLA (Prevention of Money Laundering Act) court at Panchkula in Haryana, Sudhir Parmar, allegedly demanded Rs5 to Rs7 crore from Roop Bansal, his brother Basant Bansal—the owners of M3M—and Lalit Goyal, the owner of the IREO group, for allegedly helping them in...

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The State-run Bank of Maharashtra (BoM) has written off bad loans of over Rs11,204 crore of 42 big defaulters and Rs2,548.13 crore of small borrowers since FY13-14. However, over the past nine years, the Bank could recover less than 15% of the amount from both big defaulters, who had...

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Last week, I wrote about how banks basically accept meaningless personal guarantees from industrialists or their group companies which can never be effectively invoked. I specifically mentioned the massive personal guarantees of Rs11,000 crore-Rs12,000 crore from Venugopal Dhoot of Videocon,...

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Nearly 17 months after the Cabinet committee on economic affairs granted an in-principle approval, the government has finally invited potential bidders to submit expressions of interest, by end of December, to acquire a majority stake in IDBI Bank. We have already paid too high a price to...

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About a week ago, the government accepted the Supreme Court's (SC’s) suggestion to set up a committee led by a retired judge to study the crash in Adani group shares as well as to recommend improvements in statutory and regulatory regimes governing the securities market. As last reported, the...

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A few months ago, an 80-year-old diabetic person suffered the trauma of being inadvertently locked up in a bank when he had gone to access his locker. When the issue was escalated to the top brass at the Reserve Bank of India (RBI), it was felt that he ought to be given a token compensation....

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Is a social media influencer’s opinion genuine or paid for? This question has become increasingly difficult to answer, resulting in widespread suspicion about genuine posts as well. On the one hand, there are people who blindly trust influencers and celebrities, only to be misled by fake or...

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Moneylife Digital Team 25 April 2023
Coming down heavily on Bajaj Allianz Life Insurance Co Ltd for failing to conduct necessary tests and investigations before issuing a policy for a substantial amount and then repudiating the claim on the grounds of pre-existing diseases, the national consumer disputes redressal commission...

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