Broader market underperformed the headline indices with BSE Midcap and BSE Smallcap finishing in red
'There is much scope for ingenuity and inventiveness, and the stakes are very high.'
The team will then proceed for discussions with the government-appointed Board of Satyam Computer Services in Hyderabad on Thursday to assess the present status of India's fourth- largest software firm. Following the confessions of Satyam's founder and former chairman B Ramalinga Raju that he had cooked up the firm's balance-sheet for several years, US investors have filed over a dozen law suits against the company in various US courts.
NCLT allows Shivinder to withdraw petition against his brother Malvinder. Final decision to be taken by family members in their presence.
When buying into a cyclical business, it might make sense to spread investments across several companies.
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 size of the Indian financial services market could touch around $340 billion in the next few years.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
RBI governor Raghuram Rajan says, laws must be tightened for freeloaders.
Other major laggards were IndusInd Bank, SBI, Bharti Airtel, ONGC, Tata Steel and Reliance Industries -- falling as much as 6.30 per cent.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
The broader market outperformed with the S&P BSE Midcap down 0.3%, while the S&P BSE Smallcap was little changed.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
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Ramalinga Raju founded Satyam in 1987.
According to sources familiar with the development, Sebi has decided to make references to the Ministry of Corporate Affairs and the Department of Revenue, citing violations of the Acts these bodies govern.
In a severe indictment, commodity market regulator FMC has said Jignesh Shah and his firm FTIL are not 'fit and proper' to run any exchange in the country and charged him of being the "highest beneficiary" in the NSEL scam.
MCX and MCX-SX are facing the worst crisis in their existence following the Rs 5,574 cr fiasco at the National Spot Exchange.
Fighting fake brand peddlers. How the complex web of counterfeit goods threatens to trip e-commerce giants in the country.
It won't be an easy ride for the markets, reckon experts, considering the multiple state elections in 2018 and general elections next year.
If you leave too much money lying in your trading account or hand over your securities to brokers, there is always the risk that they could use it to trade in the markets.
The Sebi order is vindication of Sinha's stand, but it has not brought him much relief as his money is still stuck.
Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million.
As all regulators are part of it, individuals don't need to worry about approaching the right authority
After the NHB asked housing finance cos to desist from offering interest subvention schemes, disbursement of loans are likely to get delayed, points out Tinesh Bhasin.
A left-leaning centralised socialist model has created a shortage/entitlement economy. In fact one of the reasons for India's limited progress is that post-independent India is at odds with its true nature. It is something that educated right of centre Hindus are trying to correct, says Sanjeev Nayyar.
Timing is crucial for a short-sell, so is an understanding of likely float.
Sebi ruled that Pendse has violated various provisions of the PFUTP Regulations and the Securities Contracts Regulation Act with his illegal transactions.
History of electronics indicates that no company, nor any nation for that matter, has been able to cement pole position and maintain it through several cycles. he death of its iconic promoter, Lee Kun-hee, raises questions over how long the chaebol can maintain its gigantic footprint in the global electronics industry, says Devangshu Datta.
Karan Choudhury reports on the implications of the strict Real Estate (Regulation and Development) Act and the prosecution of Unitech MDs, Sanjay Chandra and Ajay Chandra, in an alleged fraud case.
Do we not understand that risk and return go hand-in-hand, or do we, in our rush to get rich, simply choose to ignore risk, wonders Ramabhadran S Thirumalai.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
Beware of spot offers and discounts aimed to lure you into binge buying.
'I was shocked by the kidnapping episode. I could have lost my life.'
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
To facilitate such restrictions on entities found to have 'wilfully' defaulted on bank loans, the Reserve Bank is exploring ways to share details of these defaulters with Sebi on a real time basis.
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
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