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.
U K Sinha, new Sebi chairman had, in an interaction with its MF division, made his view clear on the need for some moves to spur overall development for the sector, persons familiar with the development said.
The conviction levels are still low.
Margaret A Hamburg, the first commissioner of the US Food and Drug Administration (US FDA) to visit India officially, will meet heads of major domestic pharma companies such as Ranbaxy, Wockhardt, Cadila Healthcare and Lupin in New Delhi.
The actress sought an interim order against the media till the time the Narcotics Control Bureau (NCB), Mumbai, completes the investigation and files an appropriate report before the competent court.
Sebi has also asked the stock exchanges to set up a separate monitoring cell with identified personnel to ensure compliance with the new norms.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
The Insurance Regulatory and Development Authority (Irda) has fined 10 insurance companies, including both the insurance arms of the Bajaj Auto Group, Reliance General, United India, Iffco-Tokio, New India Assurance and Shriram Life for non-compliance with various guidelines. The violations varied from opening branch offices without seeking the regulator's permission to violation of advertisement guidelines and non-fulfilment of social sector obligations.
Banks are set to sell dud-loans worth Rs 90,000 crore of 22 firms in the first tranche to the National Asset Reconstruction Company (NARCL). It's reason for cheer given that such sales to asset reconstruction companies (ARCs) have been poor in recent times. In fiscal 2020, their assets under management (AUM) contracted by 4 per cent; and in fiscal 2021, it fell by another 100 basis points to Rs 1.07 trillion. So, why are we where we are?
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The 'in substance' agreement with India under Foreign Account Tax Compliance Act was concluded on April 11, the US Treasury said.
Bear operators are said to have created huge short positions in the stock market over the past few days, which means they were betting on a fall in the market values
The Sunil Mittal led firm accused the regulator of "wrongly" holding Jio's promotional offer as compliant with the regulatory guidelines
What perhaps turned the tide against Uber was the plight of the consumer.
The Prime Minister will be releasing separate brochures for these sectors along with a general brochure.
TRAI has decided to fine defaulting tele-marketing firms upto Rs 20000 for non-complaince of directives.
The newest stock exchange MCX-SX, which is expediting sale of promoters' equity in compliance with regulatory norms, should be valued more than $2 billion going by the comparison its CEO Joseph Massey is drawing with the BSE in terms of value and turnover.
The Ministry of Information and Broadcasting (MIB) also told Justice Navin Chawla that on October 9 it issued an advisory to all private satellite TV channels to adhere to the programme code provided under the Cable Television Networks Rules.
Food and grocery a favourite category for e-commerce players.
The reasons given for the refusal include misbranding, adulteration, packaging, labelling, pesticides, unapproved products.
The Telecom Regulatory Authority of India is recommending the cancellation of sports broadcaster ESPN STAR Sports' downlinking licence for non-compliance with the DTH platform's pricing formula.TRAI's proposed action follows its direction and a show cause notice to ESPN Software India in the last two months asking it to fall in line with its DTH pricing formula.
The recapitalisation, the finance minister said, will enhance the lending capacity of state-owned banks and help them come out of RBI's Prompt Corrective Action framework.
India's first report on safety of civilian nuclear power plants was presented on Thursday at the Convention of Nuclear Safety at Vienna by Atomic Energy Regulatory Board Chairman S K Sharma. India's complete compliance with obligations under all the relevant articles of the convention in a 206-page report was presented by Sharma at the International Atomic Energy Agency, AERB Secretary Om Pal Singh told PTI in Mumbai.
The Trai's move comes in the wake of sector tribunal Telecom Disputes Settlement and Appellate Tribunal rejecting last month a plea by some private mobile firms.
The company did not comply to the 'good manufacturing practice' norms.
The petition also seeks to restrain the media from publishing the contents or extracts of any alleged private chats, including those on WhatsApp, between her and third parties.
Most banks complain that without adequate user fees, ATMs are a loss-making business for them
Under the revised proposal, the regulator would levy a penalty of Rs 500 from a telecom service provider for the first instance of non-compliance, and Rs 20,000 per call for repeated offences.
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.
The market intermediaries have also been told to appoint designated directors to ensure compliance with new norms, who would face penal action for any lapses.
The Halol facility is important for the company as it accounts for 10 per cent of Sun Pharma's sales.
The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not
The list in 2018 contained about 7,600 names. It has been reduced to under 3,800 in the past 18 months, according to Castellum.AI, a New York-based regulatory technology company. About 1,800 of the names have been removed since the beginning of March, according to data collected by Castellum.
The auditors also said that the company is in the process of monetising its assets and has submitted a draft resolution plan to the consortium of bankers for restructuring its borrowings and also there have been discussions for stake sale by the promoters to a strategic partner with further equity infusion.
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.
Dr Reddy's gets warning from US health regulator
YES Bank said that it has not paid any bonus to Kapoor for FY17 and FY18. He drew a salary of Rs 6.48 crore for the ten months he served as MD & CEO, before his tenure ended in January.
TRAI to soon put in place a new set of 'service quality benchmarks' to monitor call drop
At its heart, the issue is more than compliance. It is the risk of possible breakdown of a strong nexus between insurance firms and motor car dealers that makes the business the top earner for the former.
Trai had asked the Attorney General for views on Jio's free voice and data offering till March 2017, that rivals have termed predatory.
Compliance costs and legal scrutiny could rise.
