The Allahabad high court recently pulled up the Uttar Pradesh government over non-compliance of its stern order for the removal of two top officials of the New Okhla Industrial Development Authority. But the state administration is still dilly-dallying over the issue. Undue influence wielded by a NOIDA industrialist was stated to be the main reason behind Chief Minister Akhilesh Yadav's reluctance in removing the two officials.
The Parliament on Tuesday passed a bill under which cases of sexual harassment at workplace, including against domestic help, will have to be disposed of by in-house committees within a period of 90 days failing which penalty of Rs 50,000 would be imposed.
The Securities Appellate Tribunal on Thursday dismissed an appeal by two Sahara group firms against Sebi in the high-profile case involving refund of about Rs 24,000 crore (Rs 240 billion) with interest to about three crore investors.
The Tamil Nadu government has approached the Supreme Court seeking around Rs 2,500 crore from Karnataka for loss of crops due to non-release of Cauvery water during the irrigation year 2012-13 as per the interim award of the Cauvery water disputes tribunal
The I-T department issued a circular allowing manual filing of Form 15CA/15CB (required for foreign remittances) with banks till June 30, so that business transactions may go on. The forms will be uploaded online on the e-filing portal later, it added.
After considering the facts and circumstances of the case including enormity of the prima facie violations observed against Karvy, Sebi in an order passed late night Friday said it would not be prudent to allow the use of PoA by Karvy given to it by its clients.
The networking giant said it has taken steps to reduce the visibility of hashtags containing harmful content, which included prohibiting them from trending and appearing as recommended search terms.
In his order, the DM said it had come to light that in the present situation of a complete lockdown, several landlords were forcing migrant workers to pay the house rent, leaving them with no other choice but to vacate the place.
"Water has gone above the head. Now we mean business. You (Centre) will arrange everything now," the court said.
The Bombay Stock Exchange (BSE) has slapped fines on 530 listed companies for failing to meet a deadline to appoint a women director and boost gender diversity in their boardrooms.
The government on Wednesday ordered Twitter to immediately take down handles and hashtags that suggested a farmer genocide was being planned, saying such misinformation and inflammatory content will incite passion, and impact public order.
The Delhi Police on Thursday said the statements by Twitter on the ongoing enquiry in the 'toolkit' case was mendacious and designed to impede the lawful enquiry.
As per RBI's banking licensing norms, a private bank's promoter holding has to be brought down to 40 per cent within three years of operations, 20 per cent within 10 years and 15 per cent within 15 years.
HSBC Mexico said it paid a 'fine imposed by the National Banking and Securities Commission (CNBV), amounting to MXN 379 million (about $27.5 million), in connection with non-compliance with anti-money laundering systems and controls, including reporting requirements with regard to unusual transactions, as well as other prudential regulations.'
Taking action against promoters of Gillette India for non-compliance to minimum public holding norms, Sebi on Friday ordered freezing all corporate benefits arising out of their stake in the company.
In an unprecedented order to check criminalisation of politics, the Supreme Court on Tuesday held nine political parties including the ruling BJP and JD (U) in Bihar guilty of contempt and fined eight of them for violating its February, 2020 order on publication of criminal antecedents of their candidates for the assembly polls.
Concerned over the non-performance of some schemes over a long period of time, Sebi Chairman U K Sinha said that fund houses need to look into the matter and consider merger of some schemes.
The Supreme Court on Wednesday states to furnish "within 48 hours" details of mercy petitions filed by death row convicts pending with respective Governors, failing which it warned that Home Secretaries of the states concerned would have to appear before it.
The erstwhile Bahujan Samaj Party government's decision to transfer over 500 acres of land to the Noida Authority in 2009 has resulted in a whopping Rs 2,600 crore loss to the state exchequer, the Comptroller General of India has pointed out.
HSBC's India staff have come under the scanner for deficiencies in their role as 'offshore reviewers' of the global banking giant's compliance to safety mechanism against money laundering and terrorist financing.
In May 2019, Sebi had penalised the NSE as well as two of its former heads - Narain and Chitra Ramkrishna - for allowing Sampark to provide the dark fibre connectivity to stock brokers, despite not having the authorised licence. Dark fibre refers to an unused optical fibre used for high-speed connectivity.
Nico Hulkenberg will continue as a stand-in for Racing Point at Formula One's 70th Anniversary Grand Prix, on Sunday, after Mexican Sergio Perez again tested positive for COVID-19, the team said on Friday.
The Delhi high court had directed the Centre on Tuesday to show cause as to why contempt should not be initiated against it for failing to comply with its order.
Twitter on Friday temporarily blocked IT Minister Ravi Shankar Prasad's account for alleged violation of the US Copyright Act, a move that the minister slammed as being arbitrary and gross violation of IT rules.
Many corporates lack listing governance norms, says NSE
The MoD panel had submitted its report in March 2015, weeks before Prime Minister Narendra Modi announced that India would procure 36 jets.
Union Home Ministry and Delhi government have not submitted their report to the National Human Rights Commission on the police action against Ramdev's supporters at the Ramlila Maidan in New Delhi, prompting the rights body to issue a fresh notice to them.
Its Waluj manufacturing facility in Maharashtra failed to meet the good manufacturing norms prescribed by the UK drug regulator.
Violation of the provisions entails a punishment of a jail term of up to five years or with fine up to Rs one crore or with both.
Matter goes back to 2004 when Sebi investigated the dealings of various entities on May 17, 2004 when the Sensex fell more than 11 per cent or 565 points.
The year 2010 was a loud year when high profile projects hit the headlines for non-compliance with environmental regulations.
The Government has found company law violations by all 10 franchisees of the Indian Premier League and has asked the Registrar of Companies to take penal action wherever necessary, the Rajya Sabha was informed on Thursday.
Suggesting the bill is in line with the apex court judgment, Prasad said people of India have accepted Aadhaar. The bill proposes to allow voluntary use of Aadhaar number for authentication and identity proof in opening of bank accounts and procuring of mobile phone connections. The Bill also seeks to give a child an option to exit from the biometric ID programme on attaining 18 years of age, while stipulating stiff penalties for violation of norms set for use of Aadhaar and violation of privacy.
With the heat over the 2G telecom spectrum scam rising, the Telecom Regulatory Authority of India on Thursday recommended the cancellation of 34 telecom licences of companies, including Etisalat, Uninor, Loop Telecom and Siestema, due to non-compliance of roll-out obligations.
The top court asked the Centre to file a compliance report within four weeks on payment of salaries and quarantine facilities to doctors and healthcare workers and warned that non-compliance would be viewed seriously.
The DGCA pointed to cracks on the runway, water stagnation and excessive rubber deposits among other lapses in its show-cause notice. The DGCA conducted the inspection after an Air India Express flight coming from Dammam in Saudi Arabia had a 'tail strike' while landing at the Calicut (Kozhikode) airport on July 2 last year, an official said.
Ministry sources told Business Standard that necessary action would be taken to amend the Act to include penalty for non-compliance and modify the procedure to decide the penalty and punishment under the Act.
The payments industry is at a crossroads with the banking regulator on two pressing issues, neither of which seems headed towards an amicable solution. Depending upon which side accommodates the other, customers in India will have to choose between convenience and ironclad safety. In the end, the Reserve Bank of India (RBI), which regulates both banks and all payments services providers, will prevail. But the question is: will it do so by bending a little or by sticking to its firm stand? The two issues - one concerning payment facilitators storing customers' card details and the other about auto-renewal of payments - appear similar but aren't.
Theft, bribery and corruption, and regulatory non-compliance are the top three frauds
Expressing displeasure at the non-compliance of fire safety norms at the revamped Wankhede stadium, venue of the 2011 World Cup final, the city fire brigade department on Friday said it will seek a reply from the Mumbai Cricket Association (MCA) in this regard.
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