DAILY NEWS: OUR PICKS


Moneylife Digital Team 26 May 2023
PR Sundar and Mangayarkarasi Sundar, the proprietors of Mansun Consultancy Pvt Ltd, agreed to disgorge Rs6.07 crore, including 12% interest per annum (pa) and pay Rs46.80 lakh, to settle a case with the Securities and Exchange Board of India (SEBI) for running an investment advisory...

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The National Company Law Appellate Tribunal (NCLAT) on Friday set aside an order passed by the National Company Law Tribunal (NCLT) in Mumbai directing stock exchanges to reassess their initial approvals granted for the merger of Zee Entertainment Enterprises Ltd (Zee) with Culver Max...

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A Dubai court has ordered Indian-origin hedge fund trader Sanjay Shah, convicted of tax fraud and money laundering, to pay Denmark's tax authority 4.6 billion dirhams ($1.25bn), thus rejecting a final appeal by him against a civil lawsuit, media reports said.   The Dubai Court of...

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Moneylife Digital Team 26 May 2023
The Krishna district consumer disputes redressal commission directed Andhra Bank (now Union Bank of India) to pay a compensation of Rs50,000 with 6% interest for failed electronic clearing service (ECS) and then levying cheque bounce and inward ECS charges from a customer.    In an...

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Pune-based Sumita Kale, an economist and alumna of Cambridge University and Sushma Date, a paediatrician by profession, who are intensely pursuing a campaign to save the Vetal Tekdi hill—the largest green lung of Pune—tweeted as follows -    DP Alignment is being changed, Expert...

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Challenging Elon Musk's full self-driving claims, a Tesla whistleblower has reportedly leaked 100GB of data to a German media outlet that contains thousands of customer complaints about the automaker's Full Self-Driving (FSD) features.   The documents obtained by Handelsblatt detail...

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No, I am not claiming to be an expert in American psychology. I am just sharing my own perception of the way Americans think.   After my previous article, a reader commended me on my “jugaad” method of getting A-s with minimum “majoori”. In a way, it implied that I (together with...

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Moneylife Digital Team 26 May 2023
The Supreme Court on Friday granted interim bail on medical grounds to Aam Aadmi Party (AAP) leader Satyendar Jain. The former cabinet minister in Delhi government has been under custody since May 2022 as an undertrial in a money laundering case.    According to a report from LiveLaw,...

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Tushar Kohli (The Leaflet) 26 May 2023
The Bill set to replace the Information Technology Act, 2000, whose first draft is expected to be published in the first week of June, could contain provisions governing digital government, open internet, online safety and trust including user harm, intermediaries, accountability, regulatory...

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To curb the menace of issuing SIM cards on fake identities, a major security threat, the Punjab Police have got blocked over 1.8 lakh SIM cards activated using fake identities and forged documents, Director General of Police Gaurav Yadav said on Thursday.   In one case 500 SIM cards...

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The Directorate General of Civil Aviation (DGCA) has granted 30 days to cash-strapped airline Go First to submit a restructuring or revival plan, including on fleet, pilots, and maintenance plans.   The low-cost airline had stopped flying on May 3 and is undergoing voluntary...

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Moneylife Digital Team 25 May 2023
In a significant order, the secretary of information technology (IT) in Gujarat directed Vodafone Idea Ltd to pay a penalty of Rs20 lakh lost by its customer through a fraudulent subscriber identity module (SIM) swapping.    In an order last week, IT secretary Vijay Nehra, who is the...

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Back in February 2021, I had written an article in this magazine titled “Flogging a Dead Horse” – about Kolkata’s tram company.   Actually, this company has just 2,000 people and Rs15 crore of annual loss. Hence, it is not quite horse-sized—maybe just a little pony.   What...

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Moneylife Digital Team 25 May 2023
The Union ministry of consumer affairs could soon issue an advisory to the pharmaceuticals sector that will stop chemists from compelling consumers to buy the full blister pack of medicine when a smaller quantity is needed, says a report.   Quoting an official from the department of...

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 The Supreme Court (SC) has ruled that electricity dues of the previous owner of a property can be recovered from an auction purchaser or the subsequent owner.   A bench headed by chief justice of India (CJI) DY Chandrachud and comprising justices Hima Kohli and PS Narasimha said: "A...

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Moneylife Digital Team 25 May 2023
While setting aside a letter for cancellation of allotment, the national consumer disputes redressal commission (NCDRC) directed New Delhi-based Raheja Developers Ltd to refund with 9% interest the entire amount deposited by the home-buyers.   In an order, the bench of justice Ram...

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The enforcement directorate (ED) on Wednesday said that they recently carried out search and seizure operations at 25 premises in a FEMA (Foreign Exchange Management Act) violation case lodged against foreign-registered online gaming companies and websites operating in India.   The...

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Moneylife Digital Team 25 May 2023
In the world of investing, maximising returns and minimising tax liabilities go hand in hand. As an investor, it is crucial to explore various opportunities offered by the Income-Tax (I-T) Act to maximise tax savings. By understanding the provisions and taking advantage of the available...

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Moneylife Digital Team 25 May 2023
Earlier, the defence & aerospace sector in India was primarily accessible to foreign vendors. Now, the government has adopted a pro-Indian stance which favours Indian vendors. As a result, tenders are open exclusively to Indian vendors, while foreign vendors are no longer permitted to submit...

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The Supreme Court has said that state governments should not indulge in wholesale reservation, as it frustrates the very purpose of reservation and it has been held to be unconstitutional and violative of Article 14 of the Constitution.   A bench comprising justices Dinesh Maheshwari,...

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