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Moneylife Digital Team 24 May 2023
While modifying an order passed by the Odisha state consumer disputes redressal commission, the national consumer disputes redressal commission (NCDRC) imposed an additional cost of Rs10,000 on United India Insurance Co Ltd.    In an order, the bench of Dr Inder Jit Singh (presiding...

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Shirish Shanbhag 16 November 2023
In Maharashtra, general body (GB) meetings of all cooperative housing societies (CHS) are supposed to be recorded through video or audio means. However, many Societies and managing committees fail to do so, as they remain unaware of the guidelines. As a result, most meetings go unrecorded and...

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Moneylife Digital Team 14 August 2022
Veteran investor Rakesh Jhunjhunwala passed away of cardiac arrest at Breach Candy Hospital in Mumbai early on Sunday morning. Born on 5 July 1960, Mr Jhunjhunwala grew up in a Rajasthani family, in Bombay, where his father worked as a Commissioner of Income Tax. He graduated from Sydenham...

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While describing the modus operandi of cybercriminals, we have always said that they exploit people’s 'fear' and 'greed' to dupe them and steal their money.   Both factors can push people into risky behaviour, such as responding to SMS or calls from unknown persons, sharing personal...

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“A lot can happen over a cup of coffee” is the famous tagline of the much-loved brand which gave Indians their first taste of coffee shops and quality coffee. Well, a lot is happening at Café Coffee Day Enterprises Ltd (CDEL); but none of it is good news for investors.   In recent...

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Moneylife Digital Team 25 January 2023
Shares of Adani group of companies fell sharply during Wednesday’s trading session following a report by US-based Hindenburg Research. Hindenburg says it holds short positions in Adani group companies through US-traded bonds and non-Indian-traded derivatives, along with other...

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A very sophisticated Trojan, SOVA, which has re-emerged, is now targeting payment and banking apps on Android devices in India. Sova is the Russian word for owl. Last year, in September, it appeared on the dark web or underground markets with capabilities to harvest user names and passwords...

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Moneylife Digital Team 22 August 2023
Rejecting the contention of Reliance Life Insurance Company on concealed material evidence by the insured, the national consumer disputes redressal commission (NCDRC) directed the insurance company to pay the claim amount of Rs1 crore with an interest of 9% and Rs50,000 litigation cost to the...

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When the board of Nestlé India Ltd meets on 19th October, it may declare an outsized interim dividend, larger than the largesse it doles out multiple times each year.   The reason that this time it could be more than the normal bonanza for the shareholders is that the company has, by...

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Akshay Naik 15 May 2023
Concerned citizens and activists from Mumbai have written to chief minister (CM) Eknath Shinde, opposing a proposed draft of the Brihanmumbai Municipal Corporation’s (BMC) new policy on open spaces; they have urged the CM not to hand over civic plots to private parties.    Recently,...

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Moneylife Digital Team 31 May 2023
The Maharashtra government has announced a 50% concession in floor space index (FSI) premium for cluster redevelopment schemes under regulation 33(9) of development control and promotional regulations (DCPR) in Mumbai for one year, following demands from developers’ associations. This move is...

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Moneylife Digital Team 20 January 2023
In a significant order and relief to investors, the Bombay High Court (HC) on Friday set aside an order from the administrator of Yes Bank and a letter by the Reserve Bank of India (RBI) to write off additional tier-1 (AT-1) bonds sold by Yes Bank to ineligible investors. The order was passed...

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Last month, the Reserve Bank of India (RBI) organised a conference of the directors of public sector banks (PSBs). In his inaugural address, the RBI governor made some startling comments. He said, "One of the critical areas where the role of directors is very significant is in ensuring the...

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The Securities and Exchange Board of India (SEBI) has sought feedback on complaint handling by market intermediaries (MIs) and market infrastructure institutions (MIIs). The Investor Education and Protection Fund Authority (IEPFA), which impounds unclaimed funds, wants feedback on plans to...

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Shirish Shanbhag 28 July 2023
Among the various charges that are payable by a member of a cooperative housing society (CHS) are non-occupancy charges. These charges apply to properties not occupied by the owners or their family members. The basis for calculating these charges are costs such as maintenance, lift,...

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(This was written ten years ago – but is still relevant at present).   I admire Kiran Karnik for his insightful views on people and affairs. He was the head of NASSCOM (National Association of Software and Services Companies), for some years. In a recent article, he suggested that...

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Shirish Shanbhag 30 November 2023
When your loved ones and relatives, with the best of intentions, nominate you or even have you jointly sign a sale agreement for a property but forget to share a copy of the documents with you, it can be difficult to claim your share in the property. If other claimants raise objections to...

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The Bombay High Court has refused to squash the arrest and remand of Naresh Goyal, founder of Jet Airways, by the enforcement directorate (ED) on 1st September on charges of money laundering. On 7th November, the Court dismissed his plea challenging his arrest as being ‘illegal’, noting there...

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No, I am not claiming to be an expert in American psychology. I am just sharing my own perception of the way Americans think.   After my previous article, a reader commended me on my “jugaad” method of getting A-s with minimum “majoori”. In a way, it implied that I (together with...

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Moneylife Digital Team 18 October 2023
Holding Life Insurance Corporation of India (LIC) responsible for defects in construction by not providing washbasin, angle valves, and mixing taps, and for improper disposal of balcony water, the national consumer disputes redressal commission (NCDRC) directed the insurer to pay Rs1.50 lakh...

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