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Moneylife Digital Team 16 September 2021
The Indian government has decided to set up National Asset Reconstruction Co Ltd (NARCL) to aggregate non-performing assets (NPAs) in banks’ balance sheets and manage and dispose of them professionally. Along with NARCL, we are also setting up an India Debt Resolution Co Ltd (IDRCL), says...

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Moneylife Digital Team 16 September 2021
We had mentioned in Wednesday’s closing report that Nifty, Sensex were in a fresh upmove. On Thursday, the indices continued its rally and closed with decent gains.   On the NSE, there were 930 advances, 1,007 declines and 80 unchanged.   The trend of the major indices on...

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Moneylife Digital Team 16 September 2021
The enforcement directorate (ED) on Thursday raided the home and office of Harsh Mander, a retired officer from the Indian Administrative Services (IAS) and human rights and peace worker. Interestingly the raids were carried out hours after the social activist and his wife left for Germany...

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IANS 16 September 2021
  People of Bihar are surprised over crores of rupees being credited in the bank accounts of two children.   The incident appeared in Katihar district where two class 6 students, Ashish Kumar and Gurucharan Biswas received Rs 6,20,11,100 and Rs 90,52,21,223 in their bank...

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Moneylife Digital Team 16 September 2021
With the Supreme Court mentioning the removal order as ‘awkward’, the Union government agreed to allow justice Ashok Iqbal Singh (AIS) Cheema to continue as acting chairperson of the National Company Law Appellate Tribunal (NCLAT) until 20 September 2021. Justice Cheema had approached the...

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Vinita Deshmukh Vinita Deshmukh 16 September 2021
The High Courts have a poor record of pro-active disclosures under section 4 of the Right to Information (RTI) Act in terms of implementation and quality of dissemination of such information on their respective websites. This can be gauged from the fact that only 15 of the 24 High Courts have...

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Moneylife Digital Team 16 September 2021
Abhay Bhutada, managing director (MD) and chief executive officer (CEO) of Poonawalla Fincorp Ltd (erstwhile Magma Fincorp) has resigned soon after market regulator Securities and Exchange Board of India (SEBI) barred him and seven others for insider trading in Magma Fincorp just before the...

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IANS 16 September 2021
The Supreme Court on Wednesday said that one of the principal objects of the Insolvency and Bankruptcy Code (IBC) is providing for revival of the corporate debtor, and liquidation should be the last resort.   A bench of Justices L. Nageswara Rao, B.R. Gavai and B.V. Nagarathna said:...

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IANS 16 September 2021
1 out of every 500 Americans have died due to COVID: Report 16-09-2021 09:50 As the US' Covid-19 death toll exceeded 663,000 this week, it meant that roughly one in every 500 Americans succumbed to the disease since the onset of the pandemic early last year, a media report said.

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Moneylife Digital Team 15 September 2021
In a curious turn of events, Inveso Developing Market Funds, which was welcomed by Zee Entertainment managing director (MD), Punit Goenka (elder son of Zee group founder Subhash Chandra), as a major investor in 2019, has now turned on him.   At Zee Entertainment, two largest...

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Moneylife Digital Team 15 September 2021
"Look at the name; it is the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund). It is not Modi care fund. If it was the Modi care fund, we would not have asked for the information. It is the prime minister and the PM is a public authority, a...

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Moneylife Digital Team 15 September 2021
Demergers, especially in the chemicals sector, have been value-accretive for investors. Jubilant Ingrevia, Fairchem Organics, Privi Speciality Chemicals, Aarti Surfactants and the recently listed Meghmani Finechem are some of the stocks that have delivered enormous returns. Another stock,...

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Moneylife Digital Team 15 September 2021
Giving a significant relief to telecom service operators, the Union Cabinet on Wednesday announced a moratorium or deferment of up to four years in annual payments of dues arising out of the adjusted gross revenue (AGR) judgement or spectrum payments. The Cabinet meeting headed by prime...

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Moneylife Digital Team 15 September 2021
We had mentioned in Tuesday’s closing report that Nifty, Sensex were directionless. On Wednesday, the indices rallied and closed with decent gains. On the NSE, there were 1,262 advances, 695 declines and 2 unchanged.     Telecom stocks rose after a report by CNBC-TV18 said...

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IANS 15 September 2021
The Centre on Wednesday approved a production linked incentive (PLI) scheme for the auto sector, especially focusing on environment-friendly automobiles such as electric vehicles (EVs).   The over Rs25,000 crore scheme is likely to boost production of components as well as give a push...

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Moneylife Digital Team 15 September 2021
A generous regulatory approach to stressed-loan restructuring will reduce incurred-loss provisioning and enable Indian banks to spread the related credit costs over a longer period of four years, resulting in a more manageable impact on profitability and capital, says Fitch Ratings. The...

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Vinod Kothari Vinod Kothari  and   Vinita Nair 15 September 2021
At one end India is aiming to be included in global bond indices and government is aiming to open the domestic bond market. At the other end, Securities Exchange Board of India (SEBI) is enforcing stricter compliance requirements on the bond issuers and the intermediaries associated with the...

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IANS 15 September 2021
The Supreme Court on Wednesday criticised the government for "cherry picking" from its recommendations for tribunals across the country, and asked, what is sanctity of recommendations by the panel headed by sitting top court judges if the government has the last say on the...

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Moneylife Digital Team 15 September 2021
India's household debt increased on an average by 1.5 times between 2012 and 2018. The state-wise trend indicates that the rural households' average debt more than doubled in 18 states for the six years ended 2018, while seven states witnessed the same for urban households. Over the next...

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IANS 15 September 2021
A shareholder of Vodafone Idea, Satya Prakash Sinha, has complained to SEBI that on June 7, when Kumar Mangalam Birla, the Chairman of Vodafone Idea Limited, offered his stake to the government of India or any company approved by the government for free, the information was not shared with...

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