For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
Fitch Ratings on Wednesday said the recent search by the enforcement directorate at gold-backed lender Manappuram Finance highlights corporate governance challenges that can arise in emerging markets like India. "Such searches need not lead to further regulatory action, but investigations raise reputational risk that could tarnish a lender's business prospects and constrict funding access due to reduced market confidence - potentially affecting an issuer's credit profile - even if no wrongdoing is identified," Fitch added. The rating agency said Manappuram Finance Ltd has disclosed that the Enforcement Directorate's search at its premises pertained to legacy non-compliant activities at its branches up until 2012.
We have applied for marketing authorisation to the EMA through AstraZeneca. We will not sell the vaccine in the EU, said a company source.
The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court's proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes.
The government is planning to collaborate with industry stakeholders, including influencer marketing companies, to prepare and promote guidelines to help them understand the rules better and improve compliance. During a discussion with influencers, content creators, and their agencies on the recently released guidelines for celebrities, influencers, and virtual influencers on social media platforms, Rohit Kumar Singh, consumer affairs secretary, suggested forming a self-regulatory organisation for influencer marketing companies and the development of a creator or influencer recognition programme in collaboration with the industry.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
The Nepalese citizen was handed over to security agencies on arrival at the airport in New Delhi.
Import alert on Ranbaxy's Mohali unit; Strides' injectible arm gets warning letter
CERC keeping an eye on movement of prices.
The Indian Council of Medical Research's national task force for COVID-19 has decided against including antiviral drug Molnupiravir in the clinical management protocol for COVID-19 as of now, official sources said on Tuesday.
The Chernobyl nuclear power plant's personnel are continuing to service the facilities and monitor the radiation situation at the station as usual, a top Russian official claimed on Friday, a day after Russian forces took over the decommissioned facility after a fierce fight with Ukrainian soldiers guarding it.
An online company would show a particular price to the customer and then quickly increase the cost after analysing consumer behaviour or detecting any kind of desperation.
Sebi is learnt to have written to several regulators including those in Bermuda, Luxembourg, and Switzerland, seeking detailed information on some FPIs.
Collusion between ruling parties, corporate donations under Companies Bill is hidden. Environmental concerns made subservient to Cabinet Committee on Investment and regulatory agencies made toothless. Promotion of hazardous technologies for generating power from waste is anti-public health, say activist Gopal Krishna.
It has been approved by the European Medicines Agency for conditional marketing authorisation.
The UK's National Health Service was already lining up thousands of medics and volunteers to be ready to deliver jabs up and down the country.
The Supreme Court on Wednesday refused to interfere with the Delhi government's order putting a comprehensive ban on manufacturing, storage, sale and bursting of firecrackers in the city, saying people's health is important.
But no extra risk after second dose, shows study led and funded by drug maker, reports Sohini Das.
After years of waiting, finally there seems to be hope for the passage of the Pension Fund Regulatory and Development Authority Bill, thanks to the Left's withdrawal of support from the government. The passing of the Bill will provide statutory backing to the regulatory agency, enabling it to issue guidelines and allow non-government employees to save for the long-term. PFRDA Chairman D Swarup spoke to Business Standard about the issues involved.
In what could result in a complete overhaul of the Insolvency and Bankruptcy Code (IBC), the insolvency regulator has sought public comments on the regulations it notified under the code to date. The Insolvency and Bankruptcy Board of India (IBBI) has given a window of eight months ending December 31 to all stakeholders to share their views on its regulations. IBBI has called the exercise "crowdsourcing of ideas".
'In the long run, I don't foresee major ramifications [about Trudeau's allegations].' 'There's just enough hypocrisy among Western nations for India to douse the outrage.'
The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.
The Supreme Court is scheduled to pronounce on Thursday its order on a batch of PILs on the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations.
Jet Airways, which is yet to resume operations under its new owner, will reduce salaries for various staff and send many employees on leave without pay, amid uncertainty over resumption of its operations. The measures, which will be effective from December 1, were revealed hours after the winning bidder Jalan-Kalrock Consortium (JKC) said it might take "difficult" near-term decisions to manage cashflows. The once-storied airline shuttered operations in April 2019 and JKC's resolution plan was approved under the insolvency process by the National Company Law Tribunal (NCLT) in June last year.
The Rs 200,000 plus perks hike for regulators proposed in the Sixth Pay Commission is likely to attract good talent. It would be sufficient incentive for both private sector executives and serving bureaucrats to join as watchdogs. The Commission has recommended that the remuneration of chairpersons of regulatory agencies like the Sebi, Irda, Trai, CERC as well as the Competition Commission of India be hiked to Rs 300,000 if they do not avail of perks like cars and housing.
Regulatory capacity, hyperactivity and excessive prescription are the biggest challenges the financial sector is facing, said Meleveetil Damodaran, former chairperson, Securities and Exchange Board of India (Sebi). Speaking at the Business Standard BFSI Summit on Wednesday, Damodaran highlighted the need for simpler, clear, and continuous regulations in the financial sector. He opined that the industry had felt it challenging to keep pace with the changing regulations.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
Entrepreneurship, education and training will be provided in 2,200 colleges, 300 schools, 500 government ITIs and 50 vocational training centres through massive open online courses.
Air India's passenger service system provider SITA faced a sophisticated cyberattack in February this year leading to leak of personal data of 4.5 million passengers -- which included passengers of the national carrier -- from across the world, an official statement said on Friday. Personal data -- including name, date of birth, contact information, passport information, ticket information and credit card data -- which was registered between August 11, 2011, and February 3, 2021, has been leaked of a certain number of Air India's passengers, the statement issued by the airline said. "While we and our data processor continue to take remedial actions...We would also encourage passengers to change passwords wherever applicable to ensure safety of their personal data," it said.
Calling for 'equal recognition of vaccines', COVAX on Thursday urged all governments to recognise as 'fully vaccinated' those people who have received COVID-19 vaccines deemed safe by World Health Organisation, saying any move that restricts travel of people based on the vaccines they have received is 'counter-effective, both in spirit and outcome'.
Tamil Nadu, Kerala, West Bengal, Assam and the Union Territory of neighbouring Puducherry are likely to go to polls in April or May.
The WHO on Tuesday issued a product alert over contaminated syrup by an Indian manufacturer, warning that it is unsafe for use, especially in children, and may result in serious injury or death.
In 2009, Ranbaxy had to recall about 4,000 cartons of Sotret Isotretinoin through its US-based subsidiary.
The Centre has no objection to a proposal for setting up a panel of domain experts to look into strengthening the regulatory mechanisms for the stock market, the Supreme Court was told on Monday while it was hearing pleas relating to the Adani stocks rout after the Hindenburg report.
The Electronic Privacy Information Centre, an advocacy group, last week filed a complaint against Facebook and asked the FTC to investigate recent changes made by the company that make more information public by default and automatically share information with other websites.
Viagra has landed 109 people in their graves, say reports. According to the Medicines and Healthcare Products Regulatory Agency, the anti-impotence drug had triggered 44 fatal heart attacks, along with perpetrating 29 other sudden deaths.Seven people allegedly lost their sight and two became deaf after taking the drug, reports The Sun.
The suspect medicines and the companies include Sudarshan tablets made by Zandu Pharmaceuticals, India, Shilajit capsules made by Dabur India Ltd, Safi liquid made by Hamdard Wakf-India
The Supreme Court on Friday said it has no reason to "discredit" SEBI, which probed allegations against the Adani group, as there was no material before it to doubt what the market regulator has done and the court does not have to treat what was set out in the Hindenburg report as a "true state of affairs".
The government today said the proposed Financial Stability and Development Council, an inter-regulatory agency headed by the finance minister, would not act as a super regulator.
Of late Speak Asia (www.speakasiaonline.com) has been in the news and is being investigated by various regulatory agencies of the government, including the ministry of corporate affairs.
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