It is the biggest issue we have ever faced in the securities market, where a sensitive and systemically important institution and first-line regulator was not only exploited by unscrupulous elements but functioned like a private fief, points out Debashis Basu.
A report by parliamentary standing committee on commerce noted that Indian industry was getting decimated by China dumping its cheap products in India.
The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
Sebi had barred Ritesh Polyester and its promoters -- Ritesh Exports, Surendra Kumar Agarwal and his wife Roop Rekha Agarwal and their minor sons Ritesh and Deepak -- from operating in the capital market for a period of 10 years for violating the Sebi Act and Sebi (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 1995.
The National Company Law Appellate Tribunal on Wednesday directed Google to pay 10 per cent of the Rs 1,337.76-crore penalty imposed on the tech giant by fair trade regulator CCI. A two-member bench, however, declined to grant any immediate stay the operations of Competition Commission of India (CCI) penalty and said it would pass any order after hearing out other parties. The appellate tribunal has issued notices to CCI and directed to list the matter on February 13, for hearing over interim stay.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
Fair trade regulator CCI on Thursday alleged that Google has created a digital data hegemony and called for a market space with "free, fair and open competition". Concluding the arguments of the Competition Commission of India (CCI) before the appellate tribunal NCLAT in the Google matter, Additional Solicitor General N Venkataraman said a market with greater freedom for all players would be in total sync with principles of free competition rather than the 'walled garden' approach of the internet major. On October 20 last year, the CCI slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices.
The government has filed a lawsuit against Swiss food firm Nestle's Indian unit, seeking Rs 640 crore ($99 million) in damages on behalf of consumers after the country's worst packaged food scare in a decade.
The claim is filed with a consumer body.
Goyal wondered why an e-commerce market place model, where a firm provides an IT platform for buyers and sellers, was incurring such huge losses adding that it needs to be looked into.
The NCLAT on Wednesday upheld the orders of the fair trade regulator CCI imposing a penalty of Rs 1,337.76 crore on tech major Google in the Android mobile devices case, with some modifications.
NSE's board was to approve on Friday the annual financial statement for the year ended March 31, 2019, but it decided to defer the matter till its legal team firmed up a view on Sebi's order, sources said.
The regulator is also planning to widen the ambit of 'deemed fraudulent activities'.
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
The India Pulses and Grains Association estimates production of kharif pulses at seven mt this year.
Nestle relaunched Maggi noodles on November 9.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
Sebi had imposed penalties on DLF, for entering into sham transactions.
Uber Technologies said it is doing a fresh round of recruitment for its India tech centres and is planning to hire 500 more tech employees by December. The app-based mobility and delivery company has a 1,000-member tech team across its centres in Hyderabad and Bengaluru. The firm said the hiring plan is a testament to Uber's commitment to India, and its recognition of the engineering talent in the country. Uber hired 250 engineers to its India teams in 2021.
Nestle desires to relaunch Maggi by the end of this year.
Recently, an Air India flyer sent a legal notice to the airline seeking damages of Rs 30 lakh for the breach of personal data of 4.5 million passengers, including her husband and herself. Air India had informed the complainant of the data leak a month earlier, after it emerged that its passenger service system provider fell prey to a cyberattack in February. However, in the absence of a data protection law, India lacks a mechanism for compensation or grievance redress of consumers in such cases, say experts. Advocate Virag Gupta, a New Delhi-based cyber law expert, explains that a legal notice is a good beginning in the Air India case, but it raises many questions. These include whether sensitive personal information has been leaked and whether the airline is responsible or not, given that a passenger service system provider was also involved.
The company spokesperson expressed disappointment with the "unprecedented step of filing of a complaint before the NCDRC"
'We have done what we needed to do on behalf of the consumers'.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
Karvy Computershare Pvt Ltd engaged in fraudulent activities with respect to certain initial public offerings in 2005, market regulator Sebi said.
On August 13, Bombay High Court lifted the ban on nine variants of the fast food.
U K Sinha's six-year tenure as chairman of Securities and Exchange Board of India ends later this week. Sinha held his last press conference in Mumbai on Monday, where he spoke on wide-ranging issues and his biggest regret.
Nestl India is preparing a blueprint for a possible relaunch.
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.
Trump said that his proposal should be supported by both parties (Republican and Democratic) as a fair compromise -- one where nobody gets everything they want, but where the country gets the critical reforms it needs.
China and the United States were headed for a major diplomatic confrontation as Washington on Wednesday ordered the closure of the Chinese consulate in Houston, a move it said was aimed 'to protect American intellectual property and private information', hinting at cyber espionage.
The realty major is awaiting orders for the second proceedings.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
No effect on ongoing projects, says company.
Modi is practical person... If he comes in, he will revive the economy and create jobs, says Sanjay Suri.
Attorney General Mukul Rohtagi is representing the government.
Nestle India said it has conducted over 3,500 tests.
A string of measures includes specific provisions in rules governing anti-dumping, safeguards, and basic Customs duties.
Reliance Group, recently, accused L&T Finance and Edelweiss Group entities of "illegal" and "motivated" actions in invoking the pledged shares of Anil Ambani group's three listed firms and selling them in open market causing a steep fall in share values.
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