Asia Securities Industry & Financial Markets Association (Asifma) has raised concerns about the Securities and Exchange Board of India (Sebi) proposal to introduce a T+0 settlement cycle. The industry association of top foreign portfolio investors (FPIs) has stated that this move could give rise to several issues, including the bifurcation of the market, liquidity fragmentation, and deterioration of market quality. In a discussion paper floated last month, Sebi has proposed a separate same-day settlement cycle that will run parallel to the existing T+1 cycle, where trades are settled the next day.
Here is a timeline of the second-lengthiest case in the apex court history:
Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a $10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its $10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee.
Base metals major Hindalco's overseas subsidiary, Novelis, has submitted a draft registration with the US Securities and Exchange Commission (SEC) for the proposed public offering of promoters' shares. Novelis' sole shareholder, AV Minerals (Netherlands) NV, is a 100 per cent subsidiary of Hindalco. Novelis would not receive any proceeds from the sale. Assuming SEC clearance could go through in about 6 months.
AAP leader and Delhi minister Atishi made the allegations against the agency at a press conference and called the entire probe a "scam" in itself.
Maharashtra assembly speaker Rahul Narwekar has said he would not delay the decision regarding the disqualification pleas against Shiv Sena MLAs but won't rush in either which could result in the 'miscarriage of justice'.
China on Thursday declined to give any timeline for withdrawal of its troops from Depsang valley in Ladakh but said the issue that has sparked new tensions in bilateral ties "will be properly resolved soon through negotiations".
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
The International Financial Services Centre Authority (IFSCA) plans to operationalise the framework for direct listing of companies at International Financial Services Centre (IFSC) exchanges by the end of the year, said Chairperson K Rajaraman. He added that the amendments would be notified within three months. Further, the GIFT City regulator is also considering the launch of separate payments system regulations - similar to that of the real time gross settlement (RTGS) for banking within a few months.
Maharashtra Assembly Speaker Rahul Narwekar on Friday said he did not want to delay the decision on the disqualification pleas against some Shiv Sena MLAs but asserted 'just like justice delayed is justice denied, justice hurried is justice buried'.
He also said Shiv Sena, led by Shinde, and BJP will fight all elections together, which was discussed during their meeting with Union Home Minister Amit Shah in Delhi.
The Supreme Court on Monday flagged the issue of "pick and choose" by the Centre in clearing the collegium's recommendations for transferring high court judges and said this does not send a good signal.
Women should not feel guilty for standing up for themselves and saying NO when needed, says Shahzeen Shivdasani.
Southee suffers thumb fracture, injury scare for Allen
Following are the key points of the three criminal law bills, that were passed by the Lok Sabha on Wednesday and seek to replace the Indian Penal Code (IPC), the Code of Criminal Procedure (CrPC) and the Evidence Act.
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
Almost all verification and assessments of returns selected for scrutiny are being done electronically through an anonymous back office, manned by tax experts and officials, without any personal interface between taxpayers and officers.
The Russian and Indian officials would be soon meeting again to discuss the final delivery schedule of the remaining two missile squadrons, sources said.
The National Disaster Management Authority (NDMA) on Friday said no progress has been made since Thursday in drilling through the debris at the Silkyara tunnel in Uttarakhand to rescue 41 trapped workers but assured that the drilling by auger machine will start soon.
'The UK is more of a structural problem, and that's why we're doing the restructuring.'
The Supreme Court on Monday upheld the government's decision to abrogate Article 370 of the Constitution, which bestowed a special status on the erstwhile state of Jammu and Kashmir, and said steps should be taken to conduct the election to the Assembly in the Union Territory by September 30 next year.
South African athlete Oscar Pistorius, known as the "Blade Runner" for his carbon-fibre prosthetic legs, was released on parole on Friday, nearly 11 years after murdering his girlfriend.
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
'The world needs Gandhi now more than any other time in history.'
Rediff.com presents a timeline of events from the brutal murders of Keenan and Reuben Santos to the killers' conviction.
The Securities and Exchange Board of India (Sebi) is contemplating the implementation of a same-day settlement cycle, known as T+0, in two phases. This is seen as a preliminary step towards instantaneous settlement. The shorter T+0 settlement cycle is being considered for the equity cash segment as an optional mechanism, in addition to the current T+1 (Trade plus one day) cycle.
Google on Tuesday began reinstating about 250 Indian apps it had delisted from its Play Store over a billing dispute as it caved in to government criticism, but the squabble may not yet be over.
If left unchecked, the 2024 elections may be infamously remembered as the election of deepfakes. The ECI has a tough task ahead, but, more importantly, it has an opportunity to become a global model for scores of countries going to polls this year, notes Ajay Kumar.
Jaymal Singh Negi mentioned that his brother informed him about the trapped men engaging in yoga and exercises inside the tunnel.
The Agency said it has delivered the required certification notifying Congress of this possible sale on Thursday.
Jasprit Bumrah had undergone surgery for a recurring back niggle in New Zealand in March.
With land acquisition completed and infrastructure work streamlined, India's bullet train dreams are slowly, but finally, inching closer to reality.
A bench of Justices Sanjay Kishan Kaul and Sudhanshu Dhulia had heard the matter on November 20 and posted it for further hearing on Tuesday.
Maharashtra Chief Minister Eknath Shinde on Tuesday launched a blistering attack on Shiv Sena-Uddhav Balasaheb Thackeray leader Uddhav Thackeray saying he buried the Hindutva ideology of Bal Thackeray for power and joined hands with Congress and socialist parties.
The bench gave liberty to Sharad Pawar to move the poll panel for allocation of the party symbol and directed the poll panel to allot it in one week of the application.
Entities may be given about a year to tune their systems to comply with norms of Digital Personal Data Protection Act, 2023, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Wednesday. Speaking to reporters on the sidelines of consultation with the industry, Chandrasekhar said the Data Protection Board and guidelines for the eight rules, including consent management, will be put in place within a month. "Industry wants some more time for age-gating, different timelines for transition for different data fiduciaries.
Comedies are a difficult genre to pull off in today's day and age, thanks to the audiences' increasing exposure to diverse content and dwindling attention spans. Still, there are quite a few Tamil movies that can bring on the laughs. Arjun Menon lists the recent releases you can watch at home.
Wilful defaulters owe SBI Rs 80,000 crore. 10 nationalised banks are owed another Rs 1.5 trillion.
Outward remittances under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS) surged by 50.64 per cent to $9.1 billion in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), driven by healthy growth across segments due to a revision in the timeline of tax collected at source under the LRS scheme and normalisation in international travel. Major drivers include equity and debt investments, deposits, and the international travel segment, among others. According to the latest RBI data, the amount remitted under LRS stood at $9.1 billion in Q1FY24, compared with $6.05 billion in the same quarter last year.
The actor was part of the 'electrifying launch' of Starlight Gaming's first-ever Battle Royale game Raider SIX in Mumbai.
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