Markets watchdog Sebi on Tuesday decided to tighten norms for utilisation of IPO proceeds by companies, introduce special situation funds to invest only in stressed assets and amend various regulations, including those on mutual funds and settlement proceedings. The board of Sebi, which met on Tuesday, also gave its nod for amending Foreign Portfolio Investor (FPI) regulations and introducing a provision for appointment or re-appointment of any person, including as a managing director or a whole time director or a manager, who was earlier rejected by the shareholders at a general meeting. Once the amended norms are in place, such appointments or re-appointments can only be done with the prior approval of the shareholders.
The minister, while replying to the debate on Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020, was responding to various issues raised by the Congress and other Opposition parties about the PM CARES Fund.
The Income Tax Department detected bogus expenditure claims and alleged transfer of share capitals worth crores of rupees through shell companies after it recently raided some entities in Karnataka and Uttar Pradesh, including people linked to the Samajwadi Party.
Apart from 'Khaman', a famous Gujarati delicacy, items like broccoli and corn samosa, apple pie, kaju katli and a variety of teas were part of the menu of the high tea for the Trumps.
'Why are they not paying the same price for the land of farmers which they are taking over for developmental work?'
The government has approved 8.5 per cent rate of interest on employees' provident fund for the 2020-21 fiscal, a source said. Just ahead of Diwali, this is a good news for over five crore subscribers of the Employees Provident Fund Organisation (EPFO). The 8.5 per cent rate of interest on provident fund deposits for the last financial year was decided by the EPFO's apex decision making body Central Board of Trustees (CBT) headed by Labour Minister in March this year.
This property has all the hallmarks of being owned and occupied by Vijay Mallya. A fleet of supercars making their way down the drive, hordes of people descending to party all night long and a constant delivery of goods and services.
Delhi's drugs control department has told the Delhi high court that it has launched prosecution against Gautam Gambhir Foundation and Aam Aadmi Party MLAs, Imran Hussain and Praveen Kumar, before a court for allegedly illegally stocking and distributing Covid drugs during the infection's second wave.
Sunday's yatra proved that it needs both the maturity of locals as well as the police doing their duty, to ensure that a religious procession doesn't turn ugly.
While Sunak has maintained a dignified silence over the recent crisis, his supporters have not lost any opportunity to point out how the former finance minister had got the economic forecasts right.
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
IDBI Bank had to sell its MF arm after being acquired by state-owned insurance behemoth Life Insurance Corporation since LIC already had an AMC.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
In a strong counter to the narrative building around reasons for the exit of Professor Pratap Bhanu Mehta, Ashoka University Chancellor Rudrangshu Mukherjee has said the institution remains committed to academic freedom and intellectual independence while its Board of Trustee Chairman Ashish Dhawan promised an open line of communication.
Speaking to reporters, VHP national general secretary Milind Parande also said the construction of the temple will take a little time but the 'garbhagriha' (sanctum sanctorum) will be in place by December 2023 with starting of puja ritual and darshan for devotees.
The Economic Offences Wing of the Delhi Police has registered a case against two NGOs in connection with financial irregularities, an official said on Saturday.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
The ad is one more illustration of the way Maharashtra's new Shinde-Fadnavis government has been milking the Ganpati festival, with CM Eknath Shinde visiting Ganpati Mandals all day these last 10 days.
A controversy has erupted over the burial place of 1993 Mumbai blasts convict Yakub Memon in Mumbai, with the ruling Bharatiya Janata Party claiming the grave was 'beautified' and attempts made to turn it into a shrine of sorts.
Trustees and protectors can help ring-fence your trust deed and ensure it is executed exactly the way you want, for the benefit of your children, after you are no more.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
The department also said there is nothing to suggest that the state authorities failed to address any shortage of COVID-19 drugs.
With his appointment as AG, the many constitutional law matters that are pending before the Supreme Court will receive specialised attention.
Justice GR Swaminathan of the HC bench in Madurai noted that Tamil Nadu was a land of temples where the shrines have played a central role in our culture.
As per the plea, the PM CARES trust, with Prime Minister Narendra Modi as its chairperson and ministers from departments of defence, home and finance as its members, was created with the prime objective of dealing with the emergency or distress caused by the coronavirus.
The guidelines issued by the government also make it mandatory for Ganesh Utsav mandals to take permission from local authorities.
In Chanda's defence, one can always say, why would the Videocon Group take care of her husband as a quid pro quo to get a loan? After all, the group has taken money from the entire banking industry and ICICI Bank's share in the pie is not even 10 per cent. So, if it had a quid pro quo with Chanda to get the money, it must have had similar arrangements with other banks, too. If this is not the case, one must accept that it had got money from all banks, including ICICI, without any under-the-table conditions, points out Tamal Bandyopadhyay.
Union Home Minister Amit Shah and chief ministers of some BJP-ruled states were among those present at the Raj Bhavan ceremony.
The government had issued standard operating procedures for devotees and officials managing places of worship to ensure strict implement of coronavirus-related protocols and curb spread of the infection.
A single judge bench granted stay on the arrest of group chief executive officer, Ryan Pinto, and his parents, founding chairman Augustine Pinto and managing director Grace Pinto.
The infant was born with the infection on April 1, as her mother had also contracted the disease, said Dinesh Navadiya, the trustee of Diamond Hospital said.
Abramovich, who is Jewish and has Israeli citizenship, was one of the most powerful businessmen who earned fabulous fortunes after the 1991 break-up of the Soviet Union. Forbes has put his net worth at $13.3 billion.
Chitale, 29, a film and TV actress, was arrested by the Thane police on Saturday over a post she allegedly shared on her Facebook page.
Britain's prime ministerial candidate Rishi Sunak has said he wants to change the UK-India relationship to make it a more two-way exchange that opens up easy access to UK students and companies in India.
The Employees' Provident Fund Organisation's (EPFO) apex decision-making body, Central Board of Trustees, decided to fix 8.5 per cent rate of interest for 2020-21 at its meeting in Srinagar on Thursday, sources said.
Microsoft Chairman and CEO Satya Nadella along with Alphabet Inc and its subsidiary Google CEO Sundararajan Pichai are also among those from trade and industry who have been awarded the Padma Bhushan for their distinguished services.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations.
The Supreme Court on Friday upheld the validity of e-voting process for the winding up of six mutual fund schemes of Franklin Templeton, and said disbursal of funds to unit holders will continue.
