A Bill to restrict voting rights of brokers as shareholders and their participation on governing boards of stock exchanges was on Monday passed in Lok Sabha without discussion and by a voice vote.
Oh how we miss those blissful and simple times! Don't you too?
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
The government on Thursday paved the way for corporatisation of bourses through amendments in Securities Contract Regulation Act in line with the suggestions made by the Joint Parliamentary Committee.
The CBI action comes following a complaint from the Union home ministry.
'I have serious doubts about the longevity of the NDA government and the longevity of the 18th Lok Sabha itself.'
With the Company Law Board rejection both the applications filed by Ketan Parekh group of companies on the stock market scam of 2001.
The Joint Parliamentary Committee, probing the 2001 stock market scam and the UTI fiasco tabled its report in the Parliament.
With billionaire Gautam Adani charged in the United States with alleged bribery and fraud, the Congress on Thursday said it 'vindicates' its demand for a Joint Parliamentary Committee investigation into the various 'scams' involving his conglomerate.
Debashis Basu lists various reasons why laundering through the stock market thrives.
Department of Company Affairs on Wednesday said it has set up a five-member Task Force to initiate action within six months on the recommendations of the report of the Joint Parliamentary Committee on the stock market scam in 2001.
The participation in IPOs is encouraging but rising bank deposits show that the wounds of previous scams are still green.\n\n\n\n
The Congress on Wednesday asserted that the only way to comprehensively investigate the Adani issue is through a Joint Parliamentary Committee (JPC) and claimed that the Supreme Court-appointed expert committee would be a 'clean chit' panel for the government.
In a breakthrough in the probe into the Rs 595-crore (Rs 5.95 billion) scam that shook the capital market, the Central Bureau of Investigation arrested the director of DSQ software company Dinesh Dalmia in New Delhi.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Eleven years on, while 80% of scam-hit investors have been fully compensated, more than 50% of the sum is yet to be distributed.
'If I had met Harshad Mehta, I'm sure he would have convinced me into investing in the stock market and I'd have been game.'
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Stock market investments are always said to involve risks and people who made big fortunes often made headlines as scamsters, leading to Dalal Street always being looked at with suspicion, but Rakesh Jhunjhunwala was broadly an exception. Jhunjhunwala, a partner at RARE Enterprises, who rose to amass a $5.8 billion fortune and earn the tag of the country's biggest individual investor, leaves behind a relatively cleaner slate, as was seen in the most common description for him -- 'India's own Warren Buffett'. Unlike names like Harshad Mehta and Ketan Parekh, whose rise in fortunes in post-liberalised India was tainted with scam links, the newest 'Big Bull' in the more-regulated market had lesser baggage on this front.
Adani Group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations in its report, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
The CBI arrested former National Stock Exchange CEO Chitra Ramkrishna in the co-location scam case on Sunday, officials said. Ramkrishna was arrested in Delhi and taken for medical checkup, they said. She was later lodged in lockup at the CBI headquarters, they said.
Proceedings in both Lok Sabha and Rajya Sabha were disrupted as Opposition members raised slogans demanding a discussion and a Joint Parliamentary Committee (JPC) probe into the fraud-allegation-triggered rout.
It could be a matter of concern that foreign shareholders of the NSE are registered in tax havens such as Mauritius and Cyprus.
Leading stock exchange NSE's board has given its approval to the Central Bureau of Investigation (CBI) to prosecute its former MD and CEO Chitra Ramkrishna in the co-location scam case, sources said on Monday. The CBI was awaiting the go-ahead of the board of National Stock Exchange of India (NSE) to prosecute Ramkrishna following her arrest in March last year. She was arrested in the co-location scam nearly four years after an FIR was registered by the agency in May 2018.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
Market regulators of India and Mauritius inked a crucial agreement, on Thursday, for sharing of information on securities dealings, which would assist Sebi to dig deep into the securities scam of 2000-01 and prevent similar incidents in future.\n\n\n\n
'There is so much talk about Netflix and what they should be doing.' 'In two years, SonyLIV has done what Netflix should be doing.'
'His track record in the market has been spotless and untainted.' 'That is why he had such great fan following among investors.'
'The real people who should be blamed are the ones who are stealing your money.'
The Enforcement Directorate, which has been investigating the Mahadev app-linked money laundering case for more than a year, alleged in the past that its probe has shown involvement of various high-ranking politicians and bureaucrats from Chhattisgarh, where the two main promoters of the app hail from.
