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Moneylife Digital Team 30 July 2021
As if the pains caused by the coronavirus (COVID) pandemic were not enough for businesses, banks from across the country are either freezing or closing current accounts of customers.   Banks are citing a circular issued by the Reserve Bank of India (RBI) in August 2020 titled 'Opening...

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Veeresh Malik Veeresh Malik 15 November 2021
Post-COVID-19 and post shortage of chips, the scales are slowly returning, favouring new vehicle buyers. But this is not without a few new hazard warning signals flashing on Indian roads— especially near new automobile showrooms.    Now that the semiconductor (chip) shortage, which...

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Moneylife Digital Team 20 January 2022
The Delhi High Court (HC) has asked the income-tax (I-T) department to refund within four weeks Rs72 crore to Tata Teleservices Ltd.    In an order issued on 17 January 2022, the division bench of justice Manmohan and justice Navin Chawla says, "Prima facie, it appears that there is...

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Moneylife Digital Team 11 August 2022
Coming out in open on the alleged corruption taking place in National Company Law Tribunal (NCLT), a resolution professional (RP) has placed a petition before the appellate tribunal and chief justice of India, describing the sorry state of affairs where crucial orders were allegedly handed...

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Moneylife Digital Team 02 September 2021
A survey conducted by the income-tax (I-T) department in February 2021 on JM Financial Asset Management (AMC) Ltd (JMFL) found several lapses, including manipulated accounting methodology to inflate artificially distributable surplus and payout dividend to investors. Days before the survey,...

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Sucheta Dalal Sucheta Dalal 22 October 2022
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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Moneylife Digital Team 27 April 2022
Ravi Parthasarathy, the man who built Infrastructure Leasing & Financial Services (IL&FS) into a gigantic hydra-headed conglomerate passed away today after suffering from cancer for several years.    He was one of the first employees and chief executive of IL&FS, which was promoted by...

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Moneylife Digital Team 04 June 2022
A minority shareholder group of 11 shareholders, constituting  a total shareholding of around 13.67%, has called for an extraordinary general meeting (EGM) flagging concerns about the working of Dhanalaxm Bank. The causes for calling this meeting, as stated by those requisitioning the EGM,...

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Moneylife Digital Team 16 July 2021
In a strongly worded order, the Bombay High Court (HC) has ordered Jayesh Shah and Ketan Shah, both directors of Ravi Development LLP to prove that they are ‘paupers’ by producing their and the firm’s bank account statements and sharing details of their standard of living. The HC was angry...

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Yazdi Tantra Yazdi Tantra 04 March 2022
This is a very simple website which does what it says—it just removes the background from any of your photos. More often than not, when we have wonderful pics, they are marred by the background and it is painfully difficult to remove.   In such cases, you just need to head to

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Moneylife Digital Team 12 August 2022
The Supreme Court on Friday issued notice to ministries of finance, corporate affairs, Reserve Bank of India (RBI) and Securities & Exchange Board of India (SEBI) in a plea by Sucheta Dalal, managing editor of Moneylife and founder-trustee of Moneylife Foundation. The plea, taken up by senior...

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Moneylife Digital Team 16 April 2022
An investor may choose to port from one stockbroker to another for various reasons, like the services offered, ease of doing transactions, brokerage or research services offered. Sometimes, investors tend to open different demat accounts over a period of time, making it increasingly difficult...

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Yogesh Sapkale Yogesh Sapkale 05 August 2022
Scheduled commercial banks (SCBs) have written off non-performing assets (NPAs) worth over Rs9.92 lakh crore during the past five financial years (FYs), the Rajya Sabha was informed. While public sector banks (PSBs) have refused to share with citizens the names of big defaulters under the...

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Moneylife Digital Team 27 July 2022
The District Consumer Disputes Redressal Commission of North 24 Paraganas, has directed Sahara group unit Sahara Credit Cooperative Society Ltd to refund, along with interest, money invested by an investor in the company's scheme. The District Commission also stated that since the Securities...

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Moneylife Digital Team 21 February 2022
National Stock Exchange of India (NSE), the world's largest derivatives exchange by trading volume (contracts), has warned investors not to fall prey to funds or deposits collected by two entities, Tradewings Solutions Ltd and Dayanidhi Pati.    In a statement, the Exchange says,...

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Moneylife Digital Team 30 June 2021
The Mumbai bench of the National Company Law Tribunal (NCLT) has directed Reliance Home Finance Ltd (RHFL) to refund to 18,959 debenture holders money they had invested along with interest within the next five months.   The NCLT order, which comes as a relief for hapless bondholders,...

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Moneylife Digital Team 29 April 2022
In what is perhaps a first, State Bank of India (SBI) has agreed to reimburse the medical expenses of a customer who fell from an unstable ladder at a bank branch in Mumbai leading to severe injuries, surgery and hospitalisation. The Bank paid, only on the intervention of the Reserve Bank of...

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Quaid Najmi (IANS) 11 August 2021
It's official. The much-touted Rs20-lakh-crore special pandemic package, announced in May 2020 to revive the COVID-hit economy, was apparently a dud, according to reply under RTI (Right to Information) released here on Wednesday.   Hoping to unravel the exact benefits of the historic...

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Moneylife Digital Team 16 July 2021
Market regulator Securities and Exchange Board of India (SEBI) has decided to introduce block mechanism in demat account of clients undertaking sale transactions from 1 August 2021. With the block mechanism, the time to return securities back to client's demat account would be...

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Moneylife Digital Team 08 November 2021
Capability vs cyclicality has been the debate in the investor community regarding Deepak Nitrite (DN). The previous month was a mixed bag for the stock. At the start of the month, investors were jubilant about DN’s future due to the power outage in China. However, after noticing the fall in...

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