Market regulator Sebi suppressed important facts from the Supreme Court and "slept over" Directorate of Revenue Intelligence's letter on alleged stock manipulation by the Adani firms, one of the PIL petitioners in the Adani-Hindenburg row has alleged in the top court in an affidavit. The apex court is seized of four PILs on the Adani-Hindenburg controversy including those by lawyers M L Sharma and Vishal Tiwari, Congress leader Jaya Thakur and law student Anamika Jaiswal. On August 25, SEBI had informed the apex court it has completed the probe in all but two allegations against the Adani group, and is still awaiting information from five tax havens on the actual owners behind the foreign entities that have invested in the conglomerate.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
RBI Governor Shaktikanta Das has assured Finance Minister Nirmala Sitharaman that the Rs 12.05-trillion gross borrowing programme for FY22 will go through smoothly.
Shiv Sena-Uddhav Balasaheb Thackeray chief Uddhav Thackeray on Tuesday said the country needs a strong government but not of 'one party with brute majority', and batted for a coalition rule.
China welcomes all initiatives that truly help developing countries build infrastructure and sincere efforts to promote connectivity and common development, the Chinese Foreign Ministry said.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The Supreme Court on Wednesday stayed the operation of sedition law, and ruled that all pending cases, appeals and proceedings with respect to charges framed for sedition should be kept in abeyance.
In essence, follow the private-equity approach to personal investing and treat each investment decision as if it is a matter of life-or-death, because it is, suggests Avinash Luthria.
Former RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their $6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? The funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- have been under cloud for last couple of years after allegations that they may be shell companies. They came into focus once again in January when a US short seller alleged that Adani Group used offshore shell companies to inflate stock price.
Amazon on Sunday won an interim award against its partner Future group selling retail business to Reliance Industries for Rs 24,713 crore after a Singapore-based single judge arbitration panel put the deal on hold. Amazon had dragged Future to arbitration after the Kishore Biyani group firm had agreed to sell businesses to billionaire Mukesh Ambani's Reliance.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'We all face challenges in life. It's our approach towards them that absolutely decides what you become.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
In a significant move to enhance its strategic resource security, India has officially released its first-ever critical minerals list, identifying 30 key critical minerals crucial to the nation's economic growth and technological development. This pioneering step aims at reducing import dependence, enhancing supply-chain resilience, and supporting the country's net-zero objectives. Union Minister Parliamentary Affairs, Coal and Mines Pralhad Joshi, while releasing the Critical Minerals for India report in New Delhi on Wednesday, said, "India is readying for an Atmanirbhar Bharat."
"China and the Afghan Taliban have unimpeded and effective communication and consultation," Chinese Foreign Ministry spokesman Wang Wenbin told a media briefing in Beijing.
At these high levels, remaining invested in the market is the best bet for small investors, says Ramesh Shrichand Damani.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
Leading realty firm Parsvnath Developers Ltd on Friday said it has put on hold 12 Special Economic Zone projects across the country due to credit crunch.
Biden said over a year later Russian President Vladimir Putin has "failed and he continues to fail".
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
These funds can fetch double-digit returns over the long term which debt tax-saving products can't.
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Mukerjea recorded her statement under the Prevention of Money Laundering Act and said she and her husband Peter Mukerjea met Chidambaram at his office in Delhi's North Block.
'India is showing a reasonable amount of resilience, but we are still living in a world that is quite fragile.' 'That's why we hope that the government will continue to invest significantly in public capex so that we are able to ride through this cycle till the private sector is able to play its part in investing and adding to the capex cycle.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'The BJP's real weapons are Hindutva, organisation and finance.'
Delegates of all G20 countries, barring China, arrived in Srinagar on Monday for the third working group meeting on tourism -- a much-anticipated event for which authorities have made extensive security arrangements and spruced up the summer capital of Jammu and Kashmir.
So far the government has been silent on the charges being levelled, even after the stock price rout. Perhaps it is hoping for the share price to settle so that the matter goes away, predicts Aakar Patel.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Elections in Jammu and Kashmir can be held "anytime from now" as the work on updation of voters list is almost over, the Centre told the Supreme Court on Thursday but remained non-committal about setting a time-frame for restoration of statehood to the Union territory (UT).
Infosys was the only large-cap IT player to report sequential constant currency (cc) revenue growth for the June quarter (1 per cent ), which was ahead of analyst expectations, but the company's sharp downward revision in its growth guidance took most brokerages by surprise. In line with the cut in its FY24 revenue guidance (cc) to 1-3.5 per cent, brokerages have unanimously reduced FY24 EPS estimates for the company in the range of 2-4 per cent, though the Street is likely fearing even further downside, they say. Global brokerages Macquarie and Nomura downgraded Infosys to underperform and reduce ratings, respectively, with the latter cutting the target price to Rs 1210 from Rs 1260.
Sebi on Tuesday sent a notice to 7 entities, including Malvinder and Shivinder Mohan Singh, asking them to pay Rs 48.15 crore within 15 days in a fund diversion case of Religare Finvest. Sebi also warned of attachment of assets and bank accounts, if they fail to make the payment. The notice came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi).
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