The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
The Pension Fund Regulatory and Development Authority Bill, 2011, provides for market based returns and wide coverage based on several investment options in the pension sector with an aim to building confidence in the subscribers.
The CJI has also kept with himself matters concerning arbitration, habeas corpus, criminal cases, contempt of court and ordinary civil matters.
Telecom Regulatory Authority of India on Monday failed to get any interim relief from the Supreme Court as it refused to stay telecom appellate tribunal TDSAT's order restricting regulator's jurisidiction to effect changes in the agreement signed bet
Sebi on Friday imposed a penalty of Rs 50 lakh on Kotak Mahindra Asset Management Company (AMC) and barred the fund house from launching new fixed maturity plan (FMP) scheme for six months for violating regulatory norms. The markets regulator has directed the fund house to refund a part of the investment management and advisory fees collected from the unitholders of the six FMP schemes along with a simple interest at the rate of 15 per cent per annum. The case relates to the fund house's investment in certain FMPs. These FMPs of Kotak AMC had invested in Zero Coupon Non-Convertible Debentures (ZCNCDs) issued by Essel Group entities.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
Sebi on Monday barred Franklin Templeton AMC from launching any new debt scheme for two years and fined it Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to the six debt schemes, Sebi said in its 100-page order. In a separate order, the regulator has barred Vivek Kudva, former head of Asia Pacific (APAC) for Franklin Templeton, and his wife Roopa from the securities market for one year for redeeming units of Franklin Templeton MF schemes while in possession of non-public information.
US SEC order says that Cadbury India paid an agent a total of USD 90,666 (Rs 61.70 lakh) for "providing consultation, arrange statutory/government prescribed formats of applications to be filed for various statutory clearances, documentation, preparation of files and the submission of the same with government authorities," for specific licences.
It may be a 'no-go' for banking licences to large industrial houses.
Rejecting reports of his evading the law, he told reporters that the charges against him and his son were 'nothing further from truth'.
Vodafone Idea, the country's third largest telecom operator, on Wednesday reported a staggering Rs 73,878 crore of net loss in fiscal ended March 2020 -- the highest ever by any Indian firm -- after it provisioned for Supreme Court-mandated statutory dues. The firm, which has to pay Rs 51,400 crore dues after the apex court ordered the non-telecom revenues to be included in calculating statutory dues, said the liability has "cast significant doubt on the company's ability to continue as a going concern".
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
The auditors -- the local arms of the Big Four global firms Deloitte Haskins & Sells and KPMG which has BSR & Associates as an affiliate here-had challenged the jurisdiction of the NCLT to ban them.
The Delhi high court on Wednesday questioned actress-environmentalist Juhi Chawla for directly filing a suit against the setting up of 5G wireless networks in the country without giving any representation to the government on her concerns related to the technology.
Online companies would look forward to an integrated and uniform approach for tax laws and regulatory policies
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
Mittal said he discussed a plethora of issues with Commerce and Industry Minister Piyush Goyal and sought the government's support for faster clearances to streamline the group's investment plans.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
Future Group founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets that followed the US giant offering no concrete help to tide over the cash crisis. Opening up after being locked in an intense legal battle with Amazon over the Rs 24,713 crore deal with Reliance, Biyani in an interview with PTI said the US giant's 2019 investment in Future Coupons Pvt Ltd (FCPL) -- Future Retail's parent -- was for coupon and gifting business only and the same could continue post-retail assets going to Reliance. He hoped to complete the deal with Reliance within two months of Sebi approval.
This is the last lot of payments that telcos will make towards deferred spectrum liabilities, as the Union Cabinet had late last year approved a two-year moratorium on such spectrum payment dues.
The company at present provides monthly mobile services at starting price of Rs 24 without data, and plans with data service starts from Rs 33 onward. It did not disclose the quantum of hike.
Ignoring UGC's directive to start the admission process for undergraduate courses Thursday morning, Delhi University on threw the ball back in the Commission's court by sending it a proposal suggested by academicians to resolve the issue.
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
Kalanithi Maran claims deal with Ajay Singh is dead; SpiceJet spokesperson says Maran's claims are baseless and false
Most insurers aren't comfortable with subscribing to the National Pension System as they see it as competition.
Rajiv Bansal's severance payment was Rs 17.38 crore
When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
The Supreme Court judgement will hopefully ensure that those in power and authority will hesitate before allotting precious natural resources that belong to each and every citizen of the country in an arbitrary and corrupt manner, says Paranjoy Guha Thakurta.
Unable to verify or trace a large number of bondholders in Sahara refund case, Sebi has begun a process to consult the business conglomerate for verifying the genuineness of such investors.
"We will work out the parameters then we will see as to how mentioning will be done," he said.
The airline, part of Vijay Mallya-led UB Group, has been grounded since October 2012, after being bogged down by huge and mounting losses.
The apex court also prohibited other states from issuing a notification against the exhibition of the movie.
RBI has sought to stop one of its firms from disposing off assets.
The firm expects its recent equity infusion, debt refinancing and the compensatory rate to lead to a turnaround in its financial position.
Tuesday's policy announcement had a regulatory and development component.
It is hoped that the decision of India's apex court will send a signal to politicians and their cronies from the world of business that the rule of the law does eventually prevail, says Paranjoy Guha Thakurta.
The three main regulators have different approaches to grievance redressal and different standards to stop harmful from coming pitched at the consumer.
For the past 10 years or more, the RBI has been turning down dozens of applications under the RTI Act that sought disclosing the list of wilful defaulters and the RBI's inspection reports. In fact, it is the only organisation that has a granular and complete view of the heist that has been going on for 25 years at least. But it has escaped any blame for the multiple rounds of bankruptcy and massive periodic recapitalisation of public sector banks caused by bad loans. In fact, they don't want anyone to know how incompetent and collusive they have been in handling bad loans, says Debashis Basu.
The Congress on Saturday claimed that Narendra Modi's campaign would soon peak as he has nothing new to say and keeps making 'mistakes'.
Regulator's nod assumed more importance after the Maggi issue.
