ECONOMY & NATION


Moneylife Digital Team 03 March 2025
The directorate of enforcement (ED) has issued a notice to Paytm's parent One97 Communication Ltd (OCL), the company's managing director (MD) Vijay Shekhar Sharma and others for the contraventions of provisions of Foreign Exchange Management Act (FEMA). The show-cause notice (SCN) for Rs611.17...

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Moneylife Digital Team 03 March 2025
Nitco Ltd (noticee 1) and the company's promoter and chairman and managing director (CMD), Vivek Talwar (noticee 2), paid Rs1.17 crore to settle a case related to non-compliance with SEBI Listing Obligations and Disclosure Regulations (LODR) and other associated violations. The settlement,...

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Moneylife Digital Team 03 March 2025
Reserve Bank of India (RBI) has imposed a penalty of Rs99.70 lakh on Hong Kong and Shanghai Banking Corporation Ltd (HSBC) and IIFL Samasta Finance Ltd, a non-banking financial company (NBFC), for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs66.60...

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From their peaks made between late-September and early-December, various market indices have fallen sharply. The Nifty 50 index is down by 13%, Nifty 500 and Nifty Midcap by 16%, while the Nifty Small cap and Microcap have fallen by about 20%. It is the fall in the last two indices that is...

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This is not a Valentine Day gift that depositors of New India Cooperative Bank (NICB), founded by the late firebrand socialist leader and later defence minister, George Fernandes, had expected. On 14th February, they found themselves rushing to withdraw their money on learning that the Reserve...

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AGS Transact Technologies Ltd (AGS) describes itself as a company standing at the forefront of the growing payment landscape of the country.    Among other things, it provides the technology solution for banks to automatically dispense cash and other solutions for electronic payments.   It...

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Moneylife Digital Team 28 February 2025
India's insurance sector is bracing for a protracted legal confrontation with tax authorities after the goods and services tax (GST) adjudicating authority (AA) recently confirmed a Rs2,400 crore demand against HDFC Life Insurance. This ruling could establish a precedent that might push the...

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Sahyaja MS (Bar  and   Bench) 28 February 2025
The Bombay High Court on Friday issued notice to Union Bank of India and the Reserve Bank of India (RBI) in response to a petition filed by industrialist Anil Ambani challenging the classification of his loan account as fraud.   The loan account is linked to the insolvency-bound Reliance...

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Moneylife Digital Team 28 February 2025
Technicolor group, the owner of Oscar-winning visual effects companies MPC and The Mill, and feature animation company Mikros Animation, has begun to shut down operations, threatening the jobs of thousands of artists worldwide, says a report from CG Channel. The report cites a memo sent to...

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Moneylife Digital Team 28 February 2025
Citigroup mistakenly credited a client's account with a staggering US$81trn (trillion) instead of the intended US$280, in what has been described as a 'near miss', says a report from the Financial Times (FT). The error, which took place in April last year, underscores persistent operational...

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Moneylife Digital Team 28 February 2025
President Donald Trump announced a controversial plan to sell a gold card for US$5mn (million), granting wealthy foreigners rights to live and work in the US and a path to citizenship. This initiative is set to begin in two weeks, potentially attracting billions of dollars. During a press...

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Moneylife Digital Team 28 February 2025
The Lucknow zonal office of the directorate of enforcement (ED) has provisionally attached immovable properties worth Rs995.75 crore under the Prevention of Money Laundering Act (PMLA), 2002, in connection with the fraudulent disinvestment of closed sugar mills in Uttar Pradesh (UP).   The...

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Bhavini Srivastava (Bar  and   Bench) 27 February 2025
The Delhi High Court recently rejected a defamation case filed by online legal education company LawSikho against four individuals who had put out tweets on X criticising the quality of their law courses [Addictive Learning Technology Limited & Anr v. Aditya Garg & Ors].   Justice Manmeet...

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SN Thyagarajan (Bar  and   Bench) 27 February 2025
The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) on Thursday quashed an order of the National Company Law Tribunal (NCLT) that had earlier admitted Coffee Day Enterprises Ltd (CDEL), which runs the Cafe Coffee Day chain, to the corporate insolvency resolution process...

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Moneylife Digital Team 27 February 2025
The central bureau of investigation (CBI) has seized cryptocurrencies valued at about Rs24 crore as part of its extensive probe into the GainBitcoin scam. The nationwide crackdown involved coordinated searches at over 60 locations across India, targeting key accused individuals, their...

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Moneylife Digital Team 27 February 2025
The central bureau of investigation (CBI) has seized cryptocurrencies valued at about Rs24 crore as part of its extensive probe into the GainBitcoin scam. The nationwide crackdown involved coordinated searches at over 60 locations across India, targeting key accused individuals, their...

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SN Thyagarajan (Bar  and   Bench) 26 February 2025
The Delhi High Court on Tuesday granted Lifestyle Equities damages of $39 million (approximately Rs340 crore) after finding that Amazon infringed upon its ‘Beverly Hills Polo Club’ Trademark.   In the order, justice Prathiba M Singh says, "The consequences of online infringement which the...

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Moneylife Digital Team 26 February 2025
The Bombay High Court (HC) has ruled in favour of Systra MVA Consulting (India) Pvt Ltd, overturning the Mumbai Metropolitan Region Development Authority's (MMRDA) decision to terminate the French company's contract for consultancy services on key Mumbai metro projects. The HC found MMRDA's...

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Moneylife Digital Team 26 February 2025
In a significant step towards digital governance, the Maharashtra government has approved the state data policy, paving the way for establishing a dedicated state data authority. This newly-formed body will function as an integral part of the Maharashtra Institution for Transformation (MITRA)...

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Moneylife Digital Team 26 February 2025
A special central bureau of investigation (CBI) court has sentenced five individuals, including a former divisional manager (DM) of United India Insurance Company Ltd (UIICL) and two directors of two insurance brokers, to five years of rigorous imprisonment in connection with a fraudulent...

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