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Moneylife Digital Team 14 September 2021
As the second wave of COVID receded from June 2021 and as restrictions were lifted, Radico Khaitan (Radico) notched up month-on-month (m-o-m) increase in demand. In Q1FY21-22, it reported Indian made foreign liquor (IMFL) sales volume of 5.61mn (million) cases representing an increase of...

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Moneylife Digital Team 14 September 2021
We had mentioned in Monday’s closing report that Nifty, Sensex may try to rally. On Tuesday, the indices opened higher but ended with minor gains. On the NSE, there were 1,203 advances, 820 declines and 4 unchanged.   The trend of the major indices on Tuesday’s trading are given in...

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Moneylife Digital Team 14 September 2021
The Kolkata-headquartered SREI group, which includes SREI Infrastructure Finance (SIFL) and SIFL’s wholly-owned subsidiary SREI Equipment Finance (SEFL), has been under stress for about a year now. In December 2020, the Kolkata bench of the National Company Law Tribunal (NCLT) had issued an...

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Moneylife Digital Team 14 September 2021
The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) decided to link their respective fast payment systems unified payments interface (UPI) and PayNow. The linkage is targeted for operationalisation by July 2022.   In a release, RBI says, “The UPI-PayNow...

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IANS 14 September 2021
Online food delivery major Zomato's co-founder Gaurav Gupta has resigned from the company after a six-year stint.   Mr Gupta was the head of supply at the recently-listed company.   In an email to everyone in the company he said: "I am taking a new turn in my life and will be...

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IANS 14 September 2021
The gross non-performing assets (GNPAs) of banks are expected to cross Rs 10 lakh crore by March 2022, a ASSOCHAM-Crisil joint study had said.   "NPAs are expected to rise to 8.5-9 per cent by March 2022, driven by slippages in retail, micro, small and medium enterprise (MSME)...

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Moneylife Digital Team 14 September 2021
Two independent directors, namely Ashok Kurien and Manish Chokhani, resigned from the board of Zee Entertainment Enterprises Ltd a day before the company’s annual general meeting (AGM). Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China...

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Moneylife Digital Team 14 September 2021
In yet another example of shareholder activism, almost 90% of stakeholders, mainly institutions and the public, have rejected a proposal to delist Allcargo Logistics Ltd.    Promoters of Allcargo Logistics, including Shashi Kiran Shetty, Aarthi Shetty, Adarsh Hedge, Priya Hedge, and...

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Moneylife Digital Team 14 September 2021
As many as 15 sitting and former information commissioners (ICs) have urged chief justice NV Ramana to direct courts, which are routinely invoking their writ jurisdiction to pass stay orders against decisions given by the information commission on Right to Information (RTI) appeals, to...

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Moneylife Digital Team 14 September 2021
Incorporated in 1981, Sansera Engineering Ltd (SEL) is into precision engine-forged components, such as connecting rod, rocker arm, crankshaft, gear shifter fork and stem comp, and aluminium-forged parts for 4W (four-wheeler), 2W (two-wheeler) vehicles, MCVs (medium commercial vehicles) and...

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Tim Golden  and   Sebastian Rotella (ProPublica) 14 September 2021
This story was originally published by ProPublica.   A long-suppressed FBI report on Saudi Arabia’s connections to the 9/11 plot has revealed that Saudi religious officials stationed in the United States had more significant connections to two of the hijackers than has been previously...

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IANS 14 September 2021
Apple has released iOS 14.8 and iPadOS 14.8 for iPhone as well as for iPad users with an important security fix. Citizen Lab caught zero-click, zero day iMessage .gif files used by NSO Group's Pegasus spyware to exploit Apple's image rendering library   The iOS 14.8 update provides...

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IANS 14 September 2021
The Reserve Bank of India (RBI) has cautioned the public against falling prey to frauds in the name of KYC (know your customer) update and sharing key details such as debit and credit card details and OTPs.   In a statement on Monday, the RBI said that it has been receiving complaints...

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Moneylife Digital Team 13 September 2021
While observing that the formula prescribed by Rule 89(5) of the Central Goods and Service Tax Rules, 2017 (CGST Rules) suffers from anomalies, the Supreme Court says it cannot be a ground to strike down a fiscal rule that has been framed in exercise of the power of delegated...

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Moneylife Digital Team 13 September 2021
We had mentioned in previous week’s closing report that Nifty, Sensex may take cue from global markets. On Monday, the indices opened lower and ended with minor loss. On the NSE, there were 1,007 advances, 962 declines and 89 unchanged.   The trend of the major indices on Monday’s...

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Moneylife Digital Team 13 September 2021
Asset reconstruction companies (ARCs) are expected to circle stressed accounts in the micro, small and medium enterprises (MSME) and retail segments in the near-to-medium term due to the twin challenges of inadequate funding access and intensifying competition from the proposed National ARC,...

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Ranganathan V Ranganathan V 13 September 2021
The story of its ruin is simple and obvious, and instead of inquiring why the Roman empire was destroyed, we should rather be surprised that it had subsisted so long. The victorious legions, who, in distant wars, acquired the vices of strangers and mercenaries, first oppressed the freedom of...

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Moneylife Digital Team 13 September 2021
While maintaining that the resolution applicant cannot modify or withdraw its resolution plan approved by the committee of creditors (CoC) under the Insolvency and Bankruptcy Code (IBC), the Supreme Court has asked National Company Law Tribunal (NCLT) and the National Company Law Appellate...

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Moneylife Digital Team 13 September 2021
GHCL Ltd is a diversified company making soda ash and sodium bicarbonate and yarn and home textiles products. In March 2020, the board of directors of GHCL had approved the scheme of demerger of its textiles division into a separate company, GHCL Textiles Ltd (GTL). Under the scheme, each...

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Moneylife Digital Team 13 September 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines to insurers on structuring cyber insurance for individuals and gaps that need to be filled. As per the guidelines, cyber insurance should provide cover against theft of funds and identity, unauthorised...

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