Sebi on Monday imposed a penalty totalling Rs 15 crore on senior officials of Franklin Templeton AMC and its trustee for violating regulatory norms in the case of winding up of six debt schemes in 2020. However, a spokesperson of Franklin Templeton said they disagree with the findings in Sebi's order and intend to file an appeal with the Securities Appellate Tribunal (SAT). A fine of Rs 3 crore has been levied on Franklin Templeton Trustee Services Pvt Ltd and Rs 2 crore each on Franklin Asset Management (India) Pvt Ltd President Sanjay Sapre and its chief investment officer Santosh Kamat, according to the Sebi order. In addition, the regulator imposed a penalty of Rs 1.5 crore each on fund managers -- Kunal Agarwal, Pallab Roy, Sachin Padwal Desai and Umesh Sharma -- as well as former fund manager Sumit Gupta.
The impending default on the IMF loans leaves Greece sliding towards an exit from the euro.
City are looking to retain the title they won in record-breaking fashion last year and secure their fourth Premier League crown in eight years.
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies, he said. Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.
The civil aviation ministry appears supportive of SpiceJet because it does not want another airline to fail. The real test now will be the capacity of the airline's chairman, Kalanithi Maran, to raise funds. And he needs to do this quickly.
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
The IMD also issued a red alert in the same 10 districts for August 3 also.
IMD issued red alerts for Thiruvananthapuram, Kollam, Pathanamthitta, Alappuzha, Kottayam, Ernakulam and Idukki districts.
That AAP managed a sizeable vote share in Gujarat is creditable. The BJP can no longer ignore AAP's growing presence in its strongest bastion, explains Ramesh Menon, long-time observer of Gujarat politics.
The 119 nearly identical construction sites, that could potentially house powerful weapons capable of reaching the American mainland, are similar to those seen at existing launch facilities for China's arsenal of nuclear-tipped ballistic missiles, the report said.
"Today when there is so much anger over Chinese intrusion, the prime minister should come out and tell the nation how the Chinese managed to commit this act of aggression," Gandhi said in a video message.
The real estate sector had been going through a rough phase even before the COVID-19 crisis, marked by falling sales and piling up of inventories.
Adversity often brings out the best in companies, even state-owned ones. Faced with a bloated fuel bill, companies are busy devising new ways to control costs. These range from cut in travel to shift to cheaper fuels and even reduced recruitment. Power equipment maker Bharat Heavy Electricals Ltd has a brand new strategy in place -- it will set up onsite fabrication units rather than transport equipment over long distances.
The company said that while the first quarter numbers were at the pre-pandemic levels, it saw a growth of 34 per cent in sales compared to the April to June period of 2020.
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
With sports events around the world suspended because of the coronavirus pandemic, football clubs and leagues have been discussing pay cuts with players to help them make it through the crisis.
'Already, the temperature has touched 39 degrees in some parts of Gujarat and now we are in the last week of February.' 'We need to activate the heat action plan from March 1.'
Rainbow-themed badge adorns US training facility
It takes 8 hours on a plane from Plymouth, United Kingdom to New York. But 16-year-old Greta Thunberg took 15 days to reach the Big Apple as she hitched a ride on a zero-emissions yacht, making the entire trip without leaving a carbon footprint.
Bournemouth have furloughed staff while top executives and coaches have taken voluntary pay cuts to help ease the financial impact of the coronavirus crisis on the south-coast side, the Premier League club said on Wednesday.
After Sunday's 1-3 loss to Manchester City the calls for Jose Mourinho's ouster are only going to get louder.
A round-up of Saturday's action in the Premier League.
Minerva Punjab did not turn up for the first match of the qualification round, prompting the national federation to describe it as a 'crazy' and 'unacceptable' move.
The leaders of the Quad comprising India, the United States, Australia and Japan are set to demonstrate that the grouping is a 'force for global good' and has a unifying commitment to a rules-based international order amid China's increasingly intimidatory behaviour.
'By naming Tejashwi as the next CM candidate, he has put us in a dilemma.' 'Who will lead us in 2025?' 'What will happen to the party after 2025?'
Wickremesinghe is the first Sri Lankan president to be elected by Parliament following a vote.
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
United Nations General Assembly on Friday appointed Antonio Guterres as the UN Secretary General for a second term beginning January 1, 2022, days after the powerful Security Council unanimously recommended his name to the 193-member body for re-election.
What would an Indian American president of the US look like, sound like and act like, especially on issues and policies pertaining to his or her 'mother-land'?, asks N Sathiya Moorthy.
US President-elect Biden has a history of advocating on behalf of women in the US and around the world and the new team announcement is a continuation of that work.
'The mental issues are too complex to be handled.' 'It is hitting us hard for one reason.' 'We have such a high level of fear about this disease.'
A portion of the Nanda Devi glacier broke off in Uttarakhand's Chamoli district on Sunday, triggering an avalanche and a deluge in the Alaknanda river system that washed away hydroelectric stations, leaving at least seven people dead and 125 missing who are feared dead.
The electric scooter juggernaut which has been picking up momentum with heady growth month-on-month is now slowing down. The combined number of registrations in April of eight electric two wheeler companies has seen a dip of over 1 per cent to 43,061 vehicles, according to data from the Ministry of Road Transport & Highways' site VAHAN. The reasons are the continuing shortage of chips, especially after the Ukraine-Russia war, and the spate of fires which have led to scooters being recalled by manufacturers.
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
Rishi Sunak on Monday is all set to make history on Diwali as Britain's first Indian-origin prime minister after being elected unopposed as the new leader of the governing Conservative Party, following Penny Mordaunt's withdrawal from the race.
