Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
The move follows poor results in detecting undisclosed foreign assets and delay in concluding pending matters under the Black Money Act, which came into effect in 2015. According to the official data, only 52 cases have been identified so far. Of these, nine are from Mumbai alone.
Market players said the sell-off was triggered by pessimism that the government may not be able to balance growth with macro-stability.
'If anybody defaults on something which is due for today, they have to disclose it tomorrow.' 'The accumulation of NPAs is due to asymmetry in information.' 'The investor should have real-time information.'
'We saw people tripping over each other, running, screaming.' 'You could see people running with their daily briefcase despite suffering deep cuts and blood pouring from them.'
It will launch jurisdiction-free assessment from October
This is the first big move in the investigation of the British Virgin Islands list where the I-T department has found a significant amount of tax evasion.
Linking all accounts is a difficult and costly task for brokers
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
For the first time since 2001, promoter stake in BSE 500 decisively below 50%
I-T officials say many lawyers, CAs, consultants, designers have not filed their TDS
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
On one hand, Limaye will have to battle legacy issues, while, on the other hand, he will have to ensure that the exchange is able to maintain its leadership position.
Recent incidents suggest these safeguards perform well in simulated conditions and mock drills, but often fall short when actual threats emerge.
Section 276CC provides for prosecution and makes tax evasion punishable with rigorous imprisonment of three months to seven years along with a monetary penalty depending on the amount dodged.
Ashish Chauhan, MD & CEO of BSE, says it is prudent for investors to deal with more than one exchange as a risk management strategy.
Writes to Trai, Mumbai Police to catch unauthorised SMS senders
Jonathan Garner, chief Asia and emerging markets equity strategist, Morgan Stanley, gives Samie Modak his assessment of the Indian economy after 3 years of Modi Sarkar.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
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