REGULATIONS


IRDA directs insurer to strictly comply with claim provision guidelines   IRDA has levied a hefty penalty of Rs50 lakh on ICICI Lombard for violating various norms during financial years FY10-11, FY11-12, FY12-13 and FY13-14. The general insurer was found to have violated...

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An anti-consumer move by IRDA which can bring back mass mis-selling   TS Vijayan, chairman Insurance Regulatory and Development Authority (IRDA) seems to be making a U-turn on the feeble pro-consumer moves made by the previous chairman J Hari Narayan. Media reports say that IRDA has...

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Moneylife Digital Team 11 November 2014
The Cabinet note proposes widening the net of Consumer Protection Law to online retailers and e-commerce sites, while also setting up a new authority to deal with unfair trade practices and consumer issues   The Consumer Affairs Department had moved a Cabinet proposal looking to cover...

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Moneylife Digital Team 11 November 2014
Admitting petitions of DLF directors, the SAT directed SEBI to submit responses to this new bunch of petitions on 6th December and directed the petitioners to file their rejoinders   The Securities Appellate Tribunal (SAT) has bundled petitions of DLF promoter-chairman KP Singh and...

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Moneylife Digital Team 11 November 2014
The government has proposed to accord high priority to provide air connectivity to remote, difficult and interior areas of the country and focusing on building and modernising airports in Tier-II and Tier-III cities   To meet the challenges of burgeoning air traffic, connecting remote...

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Moneylife Digital Team 10 November 2014
GN Dairies was running a scheme of cattle, calf, ghee and mobilizing funds from investors without obtaining any permission from SEBI   Market regulator Securities and Exchange Board of India (SEBI) has asked GN Dairies Ltd and its directors to wind up its collective investment...

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Moneylife Digital Team 10 November 2014
The new norms -- to help companies save cost and time with a faster process and also check any manipulation in share price associated with a longer time-frame-- will be put up for approval at SEBI's board meeting next week   To make delisting easier and faster, market regulator...

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It’s time to make Robert Vadra’s poser a national slogan and get regulators and governments to become serious about citizen and consumer rights   In the previous issue, I wrote that minority shareholders of DLF Limited are being punished by the market regulator for the acts of its...

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Moneylife Digital Team 07 November 2014
A new initiative by the Department of Consumer Affairs promises better regulation and more teeth to the ASCI and its orders against errant advertisers.   The Advertising Standards Council of India (ASCI) will soon become more than just a recommending body against errant advertising....

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Moneylife Digital Team 07 November 2014
Telecom Commission decided to send back reference to TRAI as some clarification is required on some of the recommendations while few of them cannot be implemented in the present form   The Inter-ministerial panel on Telecom has decided to send back Telecom Regulatory Authority of...

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Moneylife Digital Team 06 November 2014
ASCI ruled that the Wockhardt ad, which appeared in September in Mumbai Mirror, was misleading and against the MCI code of ethics.   The Advertising Standards Council of India (ASCI), on the 5th of November, ruled on Moneylife Foundation's complaint against an advertisement by...

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Moneylife Digital Team 06 November 2014
SEBI's proposal is expected to infuse funds into the infrastructure sector, crucial for development of the country and has vast positive spill over effects over various other sectors and the entire economy   Market regulator Securities and Exchange Board of India (SEBI) has proposed...

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TruthInAdvertising.org 05 November 2014
Increasing numbers of hedge funds are tweeting and establishing websites   A little more than a year after the US Securities and Exchange Commission (SEC) allowed private investment funds to advertise, the agency is being asked to strengthen its rules regarding solicitations.  

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Despite much noise and fanfare, whether the Bill delivers for citizens, or for policemen and politicians, is yet to be seen   The draft of the ‘new’ Road Transport and Safety Bill 2014 has been on the road transport and highway ministry’s website and has been discussed at various...

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Moneylife Digital Team 30 October 2014
The regulator has applied to the SC seeking directions against Sahara and to obtain a schedule of payment for the whole amount.   SEBI on Thursday moved the Supreme Court seeking the directions against the Sahara Group for non-payment of dues of Rs47,000 crore.   In its...

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Moneylife Digital Team 30 October 2014
FDI in construction sector will help the cash-starved realty sector raise funds, says Nomura in a research note   The government on 29th October relaxed rules for allowing FDI (foreign direct investment) in the construction sector including housing by reducing the minimum built-up...

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Moneylife Digital Team 28 October 2014
Competition Commission of India imposed a penalty of Rs10,62,062/- on Chemist and Druggists Association, Goa for indulging in anti-competitive practices   The Competition Commission of India (‘the Commission’) has found the Chemist and Druggists Association, Goa (CDAG) to be in...

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Why are investors of DLF and FT asked to pay the price for their promoters’ behaviour?   On 10th October, the Securities & Exchange Board of India (SEBI) closed a very reluctant, seven-year investigation into dubious disclosures by DLF Limited by barring the company, its chairman...

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Moneylife Digital Team 21 October 2014
SEBI said it might issue observations on RINL’s IPO document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought from them   Market regulator Securities and Exchange Board of India (SEBI)...

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Moneylife Digital Team 21 October 2014
The agency filed the report before Special CBI Judge Bharat Parashar and said that it contains a detailed report of investigation being carried out in the coal scam case   The Central Bureau of Investigation (CBI) on Tuesday filed a “detailed and comprehensive” revised final closure...

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