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On 8 March 2022, the enforcement directorate (ED) at Hyderabad issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) against C Parthasarathy, founder of the Karvy group of entities, his sons Adiraj Parthasarathy and Rajat Parthasarathy, and the following...

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Despite two explicit judgements by the Supreme Court, the Central Information Commission (CIC) could not decide upon directing central public information officers (CPIOs) of the Reserve Bank of India (RBI) to furnish information on inspection reports of banks and financial institutions (FIs)....

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The Supreme Court on Tuesday disapproved of the Centre's practice to conduct additional verification of members chosen for the Income Tax Appellate Tribunal (ITAT), despite recommendation for the appointment by the Search and Selection Committee (SCSC).   A bench of Justice D.Y....

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Nearly 64 per cent Indians get three or more spam calls every day, according to a report on Tuesday.   According to the report by LocalCircles, an independent community engagement and social media platform, a whopping 95 per cent of mobile subscribers that have registered on Telecom...

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Opening another front against Twitter CEO Parag Agrawal, Tesla CEO Elon Musk on Tuesday asked the US Securities and Exchange Commission (SEC) to probe whether Twitter's claim on the number of its user base is true.   Replying to a follower who said that if it turns out that Twitter...

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The shocking implosion of the TerraUSD and Luna cryptocurrencies threw many young investors into a panic, some of them saying their entire assets were blown up or even leaving suicidal messages.   In a crash starting a week earlier, the once bullish TerraUSD and sister coin Luna had...

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National Stock Exchange's (NSE) former head Chitra Ramkrishna on Wednesday approached the Delhi High Court for bail, following the denial of her plea by the trial court.   However, the bench of Justice Talwant Singh recused himself from hearing her plea.   On May 12, special...

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As the country prepares for the 5G era, India dropped four spots in rank globally for overall median fixed broadband speeds -- from 72nd to 76th spot in the month of April, a new report showed on Wednesday.   Overall median fixed download speeds in India saw a slight decrease from...

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Pollution was responsible for nine million deaths in 2019 - equivalent to one in six deaths worldwide - and India leads with nearly 2.4 million deaths, according to a study published on Wednesday in The Lancet Planetary Health.   Of the nearly 2.4 million deaths in 2019, air...

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Moneylife Digital Team 18 May 2022
Tube Investments of India Limited (TII), covered in detail here, came out with their quarterly numbers last week. TII operates three main verticals, viz., engineering, metal formed products and mobility, which are used in major industries such as automotive, railways, construction, mining,...

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Moneylife Digital Team 18 May 2022
We had mentioned in Tuesday’s closing report that Nifty and Sensex may pause for breath. On Wednesday, the indices opened gap up and ended with loss. On the National Stock Exchange (NSE), 1,151 stocks advanced, 920 declined, and 65 remained unchanged with advance decline ratio of...

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India records 1,829 fresh COVID cases, 33 deaths in past 24 hours 18-05-2022 11:00 India reported a rise in Covid-19 cases with 1,829 fresh infections logged in the past 24 hours, against previous day's 1,569, the Union Health Ministry said on Wednesday. In the same period, the...

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Moneylife Digital Team 17 May 2022
The Reserve Bank of India (RBI) on Tuesday rejected all four applications it received for ‘on-tap’ licensing of universal banks (UBs). UAE Exchange and Financial Services Ltd and the Repatriates Cooperative Finance and Development Bank Ltd (REPCO Bank) are the two prominent names whose...

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Moneylife Digital Team 17 May 2022
As the temperature almost hit 50 degrees Celsius in many parts of India, power outages continue for three in five households for over a month of the heatwave, and people are now demanding solutions. Households cite poorly governed and managed power departments, poor supply infrastructure and...

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Moneylife Digital Team 17 May 2022
For the first time, market regulator Securities and Exchange Board of India (SEBI) has asked Urja Global Ltd—which is found guilty of price manipulation and false statements—to get a 'certificate of authenticity' for its disclosures to the exchange. In the 'humiliating action', the company...

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The Supreme Court on Tuesday agreed to list a plea by SFIO (serious fraud investigation office) challenging a Delhi High Court (HC) order, which stayed the investigation into companies related to the Sahara group.   A plea by SFIO said: "The petitioner SFIO has filed the captioned...

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The Central Bureau of Investigation (CBI) is conducting raids at nine locations belonging to Congress leader Karti Chidambaram and his father, former Union minister P Chidambaram in connection with a fresh case of visas issued to Chinese nationals for illegal...

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Moneylife Digital Team 17 May 2022
Paradeep Phosphates Ltd (PPL) makes a variety of complex fertilisers, such as diammonium phosphate (DAP); three grades of nitrogen-phosphorus-potassium (NPK) fertilisers: NPK-10, NPK-12 and NP-20; zypmite, phospho-gypsum and hydrofluorosilicic acid (HFSA). It is also engaged in trading,...

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Moneylife Digital Team 17 May 2022
Incorporated in 2007, Ethos Ltd (Ethos) is India’s largest luxury and premium watch retailer; it had a 13% share of the total retail sales in premium and luxury segment and 20% share in exclusively luxury segment in FY19-20. Ethos operates 50 stores spread across 17 cities of New Delhi,...

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Moneylife Digital Team 17 May 2022
Chemplast Sanmar (Chemplast), India’s leading producer of suspension poly vinyl chloride (S-PVC) and paste PVC resin, announced its Q4FY21-22 results. We had earlier covered Chemplast in detail here. For Sanmar, Q4FY21-22 was similar to Q3FY21-22, with revenue rising and operating margins...

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