REGULATIONS


The central government on Thursday said states and union territories will be penalised for any delay in transfer of funds to the local bodies under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT).   "States and UTs shall release the central assistance along with the...

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The unprecedented hearing held at the Supreme Court past 3 a.m. on Thursday, in which 1993 Mumbai blasts convict Yakub Memon's last ditch attempt to avert his execution was rejected, was the first of its kind in the apex court's history and has been generally appreciated by the legal...

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Nidhi Bothra 30 July 2015
Just when companies have started to settle down with the revised framework, the master circular issued by RBI on 1 July 2015 has confused them again   For several years now, RBI has been issuing master circulars covering non-banking finance companies (NBFCs) on 1st July every year,...

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The bill is likely to be introduced by the consumer affairs, food and public distribution in the monsoon session of parliament   The union cabinet on Wednesday approved a new Consumer Protection Bill that seeks to make redress of grievances inexpensive and quick and proposes to set up...

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Its initial authorised capital would be Rs.20,000 crore, which will be raised from time as decided by the finance ministry   The union cabinet on Wednesday gave its approval to create a Rs.20,000 crore National Investment and Infrastructure Fund (NIIF) to give boost to infrastructure...

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Black money law may end up harassing honest small taxpayers   Black money has been the bane of our economy for the past several decades and its proportions seem to be growing by the day. Many governments have come out with schemes—including amnesty schemes—to lure people to disclose...

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As many as 16,500 companies in India fall under the purview of mandatory corporate social responsibility (CSR) norms, posing a challenge not only for those engaging in such causes for the first time but also others in terms of effective implementation and reporting, experts...

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Moneylife Digital Team 24 July 2015
This SEBI Order is to  prevent  Unique  Vision Financial Advisory from soliciting  and  collecting  funds  from  the  investors  and  carrying  on  portfolio  management services without due registration from SEBI   Market regulator Securities and Exchange Board of India (SEBI), has...

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Moneylife Digital Team 24 July 2015
Swasata Cements was engaged in fund mobilising activity through issue of NCDs to more than 49 persons without complying with the relevant provisions of the Companies Act, 1956 and SEBI (Issue and Listing of Debt Securities), Regulations, 2008, says a SEBI Order   Market regulator SEBI...

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Moneylife Digital Team 23 July 2015
"We have given all the details to the CBDT (Central Board of Direct Taxes) and we have told them that they should probe them," SEBI Chairman UK Sinha told reporters   Market regulator SEBI (Securities and Exchange Board of India) has clamped down on a large number of organised...

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Market regulator Securities and Exchange Board of India (SEBI) on Thursday said the state governments need to play a pivotal role to control and monitor the spread of chit fund and ponzi firms.   "This is a matter which cannot be controlled by one central agency - there is a...

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With Resurgent Rajasthan Partnership Summit drawing closer, the state government is now planning to come out with a land acquisition bill in the next assembly session likely to be held in next two months, an official said.   "The demand to table the bill in the state assembly has been...

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Death claims after three policy years will have to be paid   Section 45 of the new insurance Bill states that a policy cannot be called into question after three years of it being issued. Life insurance companies find themselves in a tough situation with the amendment to Section 45 of...

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Moneylife Digital Team 21 July 2015
SEBI found that Aspen Nirman India collected over Rs33 lakh by issuing NCDs to 167 investors between 2011-12 and 2013-14   Market regulator The Securities and Exchange Board of India (SEBI) has prohibited Aspen Nirman India Ltd and its directors from raising money from investors...

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Moneylife Digital Team 21 July 2015
SEBI found that Swasata Steel allotted NCDs to 795 people and mobilised over Rs12 crore, while Siyaram raked in at least Rs6 lakh from by issuing secured redeemable debentures to at least 63 allottees   Market regulator Securities and Exchange Board of India (SEBI) asked Siyaram...

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Moneylife Digital Team 21 July 2015
Clamping down on illegal money raising activities, SEBI barred 12 entities, including 10 individuals, from the markets for at least three years while ordering them to refund more than Rs5.32 crore   Market regulator Securities and Exchange Board of India (SEBI) while barring 12...

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The AAP-run Delhi government on Tuesday decided to scrap Bus Rapid Transit (BRT) corridor system introduced by Shiela Dikshit-led Congress government in the city.   "The decision to scrap BRT was taken in a meeting chaired by Delhi Chief Minister Arvind Kejriwal," said Delhi Law...

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User awareness lagging far behind technology and scamsters   At a time when the Modi sarkar is pushing hard for ‘Digital India’ programmes, the feedback received from Moneylife Foundation’s 13th July seminar on cyber fraud and privacy concerns is rather telling. The packed audience,...

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Once again, the SC’s judicial activism shines a light on corruption, apathy and cronyism that has enveloped our executive, legislature and the media   Our dysfunctional democracy seems to require judicial intervention to force regulatory action, investigation and punishment by the...

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While the Competition Commission of India imposed the penalty on National Insurance, New India Assurance, Oriental Insurance and United India Insurance, the question is: Will it be drawn from the funds of the shareholders of these non-life insurers or from that of policyholders   The...

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