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 NGT also constituted a committee to oversee the execution of work pertaining to cleaning of the river.
Cracking the whip on those polluting Yamuna, the National Green Tribunal on Tuesday passed a slew of directions including a fine of Rs 5,000 on individuals spotted throwing waste or religious items in the river as it unveiled a plan for its restoration.
The delay will increase the provisioning burden on lenders and will also postpone the benefit of reversal of money set aside as provisions.
Company is fighting 2 cases- one challenging the new consent mechanism guidelines, another seeking adjudication proceedings on the insider trading case
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
Govt's decision comes two days after the National Green Tribunal had warned of strict action if clarity was not provided on the issue.
RIL had sought to settle a probe by Sebi into the alleged violation of insider-trading norms in sale of shares of its erstwhile subsidiary Reliance Petroleum in 2007.
According to experts by making CSR spending mandatory, the government has made it into a statutory due like tax but with none of its democratic quality.
'That would once and for all teach all the film-makers of this country a fitting lesson!'
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
There have been several occasions when workers have raised an industrial dispute with employers demanding compensation for being retrenched due to continued illness
The bandh has been called by pro-Kannada and farmers' organisations, protesting the Mahadayi Water Dispute Tribunal's interim order rejecting the state's petition seeking 7.56 tmcft for drinking water projects.
A bench headed by NGT chairperson Justice Adarsh Kumar Goel directed the carmaker to deposit the amount within two months.
Terming the incident as 'horrific', the Aam Aadmi Party hit out at the Centre by drawing a comparison with the Jallianwallah Bagh massacre, whose centenary is being observed on Saturday.
Miffed at a rise in annual licence fee on Internet service providers, industry body Internet Services Providers Association of India on Thursday said it would approach the Telecom Disputes Settlement Appellate Tribunal, challenging the new fees.
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
The consortium of UAE-based businessman Murari Lal Jalan and London's Kalrock Capital -- which has won the bid to revive Jet Airways -- on Monday said it expects to start operating the airline by the summer of 2021.
Mahan Coal claims it is being targeted at the behest of 'foreign masters' of the Western world.
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
Pawan Ruia has finally done it, a beaming Buddhadeb Bhattacharjee, then West Bengal chief minister, had said at the reopening of the 70-year-old Sahagunj factory owned by Dunlop in 2005. But with the Calcutta high court passing a winding-up order in 2013 and the Trinamool Congress-led state government passing a Bill to take over the company in 2016, the once-upon-a-time undisputed leader in the Indian tyre industry looks vastly undone. But that can hardly be a deterrent for Ruia, who has a penchant for making headlines one way or the other.
The NGT, while banning the manja last year, said the string, coated with glass and metal powder, poses a threat to the environment.
If industrial units do not have functional PETPs, then they will not be allowed to function any more, the court said.
Amazon has asked Sebi to suspend its review of the Rs 24,713 crore Future-Reliance deal and not grant a no objection certification on the ground that its challenge to the agreement was before the Delhi high court. E-commerce major Amazon has written to Sebi again, this time apprising it about the admission of its appeal before the division of the Delhi high court and urged the market regulator to suspend the review of the Future-Reliance Industries Ltd (RIL) deal. This is the eighth letter by Amazon to the Securities and Exchange Board of India (SEBI) chairman Ajay Tyagi since late October. Amazon has been opposing Future group's pact with billionaire Mukesh Ambani's RIL that was signed in August last year.
To mark the first anniversary of the Sterlite firing anniversary -- 13 people died and several were injured when the Tamil Nadu police fired on a large crowd protesting -- various organisations will hold rallies and meetings in the port city.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
Manchester United's Spanish international Juan Mata has promised to give 1 per cent of his earnings to charity and wants all fellow professional footballers to do the same.
While Mukesh Ambani-led RIL has nominated former Justice Bharucha as its arbitrator, the Centre chose Justice Khare as its nominee.
16 Indians were missing after the incident that happened at Seela Ceramic Factory in Bahri area in Khartoum, the national capital, on Tuesday.
Virtually bringing the entire industry into the picture, telecom tribunal TDSAT on Monday directed Reliance Communications, HFCL, Shyam Telelinks, BSNL and MTNL to become a party to a petition challenging changes to spectrum allocation norms among others.
Former Australian judge Michael McHugh, who was appointed by Supreme Court to adjudicate on Reliance Industries' KG-D6 dispute, had slammed the government interpretation of his statements before quitting the tribunal.
We tried our best to recover money from Vijay Mallya: Arundhati Bhattacharya
Forty five organised slaughterhouses are not in a position to cater for the big demand for rawhide
The apex court sets aside Delhi HC order on the oilfield.
Embattled liquor baron Vijay Mallya, who lost his UK high court appeal against an extradition order to India, has said that he is "disappointed" with the ruling but will continue to seek legal remedies as advised by his legal team. The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.
He, however, seemed to indicate that he did give a personal guarantee to India's largest lender SBI, which has moved the NCLT to recover Rs 1,200 crore.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
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