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Debayan Roy (Bar  and   Bench) 12 September 2024
The Supreme Court on Thursday stayed a National Green Tribunal (NGT) direction to the Pune police to ensure that the total number of Dhol, Tasha, and Zanj performers in each troupe during the Ganapati Visarjan procession in Pune does not exceed 30 members (Yuva Vadya Pathak Trust v Dr Kalyani...

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Moneylife Digital Team 12 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs20 lakh on Bharosa Technoserve Pvt Ltd (BTPL) and its key individuals, including Sanjay Bhargava, Sahil Bhargava and Anita Bhargava for failing to adhere to Investment Adviser (IA) Regulations.   In an...

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Moneylife Digital Team 12 September 2024
The Mumbai zonal office of the directorate of enforcement (ED) has provisionally attached movable and immovable properties in the form of land and building and amount lying in bank fixed deposits (FDs) worth Rs43.52 crore under  the provisions of the Prevention of Money Laundering Act (PMLA),...

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Moneylife Digital Team 12 September 2024
The Union Cabinet has approved health coverage to all senior citizens aged 70 years and above, irrespective of income, under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY). This will benefit about 45mn (million) families, with 60mn senior citizens receiving Rs5 lakh free...

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Moneylife Digital Team 12 September 2024
Continuing with its action against spammers, the department of telecommunications (DoT) and the telecom regulatory authority of India (TRAI), through the Sanchar Saathi portal, have disconnected 350,000 numbers and  blacklisted 50 entities. In addition, around 350,000 unused and unverified SMS...

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Shirish Shanbhag 12 September 2024
When members of a cooperative housing society (CHS/Society) face challenges like inconsistent services or disputes with the managing committee, it is essential to know what legal options are available. In this week's column, I will address some commonly faced issues by the Society members,...

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Abhimanyu Hazarika (Bar  and   Bench) 11 September 2024
The Supreme Court on Wednesday observed that Section 498A (cruelty to married women) of the Indian Penal Code, along with provisions of the Domestic Violence Act, are among the most abused laws.   The observation was made by a Bench led by Justice BR Gavai and comprising Justices Prashant...

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Moneylife Digital Team 11 September 2024
On Wednesday, 1603 stocks advanced, 2368 declined and 100 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.68, indicating negative closing of stocks in broader markets. The trend of the major indices on Wednesday’s trading is given in the table...

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Moneylife Digital Team 11 September 2024
PN Gadgil Jewellers (PN Gadgil) is the second most well-known organised jewellery company in Maharashtra. It has a history that goes back to 1832. Through its 39 stores in 21 cities in Maharashtra and Goa and one store in US, it sells gold, silver, platinum and diamond jewellery. Plans to open...

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Moneylife Digital Team 11 September 2024
In response to recent allegations regarding engagements with Agora Advisory Private Limited, both Dr Reddy’s Laboratories Ltd and Pidilite Industries Ltd have issued formal statements refuting claims of impropriety.   Dr Reddy’s Lab says it had engaged the services of Dhaval Buch, the husband...

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Moneylife Digital Team 11 September 2024
While asking the automobile industry to help the Union government in designing the programme of trustworthy pollution checks, Anurag Jain, secretary in the ministry of road transport & highways (MoRTH), says the government is working on a policy that seeks to link vehicle scrapping to their...

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Moneylife Digital Team 11 September 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs1.91 crore on Axis Bank Ltd for contravention of provisions of section 19 (1) (a) of the Banking Regulation Act (BR Act) and non-compliance with directions on the interest rate on deposits, know-your-customer (KYC) norms and credit flow...

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Moneylife Digital Team 11 September 2024
The stainless steel (SS) industry is affected by dumping from China. The raw material used in makings stainless, i.e., nickel, rose sharply in the first five months of this year which has resulted in lower margins for SS companies. There is no demand issue because the major customers are...

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Moneylife Digital Team 10 September 2024
Tolins Tyres Ltd (Tolins) is one of the leading players in the rubber and tyres industry with a nationwide presence and a diverse product range. It operates in both verticals – manufacturing new tyres and tread rubber. The company has established itself as a major tyre retreading...

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Moneylife Digital Team 10 September 2024
Contrary to a claim by Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), the Congress party alleged that, as of March 2024, she owned a 99% stake in Agora Advisory Pvt Ltd and had received Rs2.95 crore from FY16-17 till FY23-24, except for two years. Agora...

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Moneylife Digital Team 10 September 2024
After finding procedural errors, the Supreme Court set aside the Rs80 lakh penalty imposed by the Bombay High Court (HC) on Securities and Exchange Board of India (SEBI), Bombay Stock Exchange Ltd (BSE) and National Stock Exchange Ltd (NSE) for freezing of demat accounts of two investors. The...

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Moneylife Digital Team 10 September 2024
Observing that insurance claim repudiation citing evidence of pre-existing diseases which are also not related to the cause of death cannot be sustained, the national consumer disputes redressal commission (NCDRC) directed Bharti Axa Life Insurance Co Ltd to repay the home loan under the terms...

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Sahyaja MS (Bar  and   Bench) 10 September 2024
Essar Oil and Gas Exploration and Production Ltd., a major player in the oil and gas sector, has been admitted to insolvency by the National Company Law Tribunal (NCLT) in Ahmedabad. (Greka Green Solutions (India) Ltd. v. Essar Oil and Gas Exploration and Production Ltd.)   The company, part...

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Moneylife Digital Team 10 September 2024
On Tuesday, 2586 stocks advanced, 1352 declined and 104 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 1.91 indicating positive closing of stocks in broader markets. The trend of the major indices on Tuesday’s trading is given in the table below.  

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Moneylife Digital Team 10 September 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs1 crore on HDFC Bank Ltd for failing to follow guidelines on interest rates on deposits, the use of recovery agents, customer service standards in banks and the management of risks and code of conduct for outsourcing financial...

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