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Moneylife Digital Team 23 August 2024
Upholding an order passed by the Telangana state consumer disputes redressal commission, the national consumer disputes redressal commission (NCDRC) directed the State Bank of India (SBI) to reimburse Rs63.74 lakh with 9% interest per annum (pa) and pay Rs3.20 lakh as compensation and...

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Moneylife Digital Team 18 September 2024
Anna Sebastian Perayil, who cleared the chartered account (CA) exam in November and was working at the Pune office of Ernst & Young (EY), passed away at 26. In a letter to Rajiv Memani, chairman of EY India, her grieving mother, Anita Augustine, alleged relentless work pressure as the cause of...

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Moneylife Digital Team 16 September 2024
Holding HDFC Bank Ltd responsible for deficiency in service by keeping a hold on funds of a customer's savings account that resulted in bouncing his instalment of car loan, the national consumer disputes redressal commission (NCDRC) directed the lender to pay Rs50,000 compensation for mental...

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Moneylife Digital Team 13 September 2024
Holding Star Health & Allied Insurance Company Ltd guilty for not providing privileged facilitation in medicare for a senior citizen, the national consumer disputes redressal commission (NCDRC) directed the insurer to reimburse Rs3.20 lakh with 10%pa (per annum) and Rs1 lakh litigation costs....

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Moneylife Digital Team 23 August 2024
Amidst the hot debate on milk and milk products aggressively marketed by several food business operators (FBOs) in the name of A1 and A2, the Food Safety and Standards Authority of India (FSSAI) clarified that any such claims on milk fat products are misleading. It also directed FBOs to remove...

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Moneylife Digital Team 30 August 2024
The ongoing initial public offering (IPO) of Premier Energies Ltd (PEL) has raised questions about Securities and Exchange Board of India (SEBI)’s rules and regulations governing IPOs. PEL’s IPO opened on 27 August 2024, offering 62.8mn (million) shares in a price band of Rs427 to Rs450 a...

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A Chilean dictator accused of crimes against humanity, including torture, mass murder and holding people hostage seems worlds apart from Hindenburg Research’s allegations against Madhabi Puri Buch (MPB), chairperson of the Securities and Exchange Board of India (SEBI). Yet, the principles of...

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A massive sum of over Rs2 lakh crore of people's unclaimed money lies trapped with the government, poorly accounted for and frustratingly difficult to reclaim, either by the original owners or, more often, by their heirs. These unclaimed funds represent the hard-earned savings of ordinary...

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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 23 August 2024
Coming down heavily on Reliance Home Finance Ltd (RHFL), Anil D Ambani, the chairperson of Anil Dhirubhai Ambani (ADA) group, several key managerial personnel (KMPs) and ADA group companies, market regulator Securities and Exchange Board of India (SEBI) has slapped a penalty of Rs624.06 crore...

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Moneylife Digital Team 30 August 2024
The investor education and protection fund (IEPF) under the ministry of corporate affairs (MCA), which impounds corporate benefits, shares and debentures that remain unclaimed after seven years, holds shares in 1,561 listed companies. As of 1 August 2024, IEPF's shareholding in these companies...

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Moneylife Digital Team 21 August 2024
The carbon black market in India is witnessing strong impetus from the robust automotive production within the country. India holds a substantial position in the global heavy vehicles market, being the largest tractor producer, the second-largest bus manufacturer and the third-largest heavy...

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Sahyaja MS (Bar  and   Bench) 26 August 2024
The Bombay High Court on Monday granted an interim stay on a July 16 order of a Pune court which had dismissed a trademark infringement suit filed by fast food giant Burger King against a local burger joint with the same name (Burger King Corporation v. Anahita Irani and Another).   A Bench...

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A series of allegations by the Congress Party against Madhabi Puri Buch, chairperson of the Securities & Exchange Board of India (SEBI), sent shock waves through the financial sector yesterday, casting a further shadow over the integrity of the market regulator.    The accusations are so...

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Moneylife Digital Team 28 August 2024
In a shocking development that has rattled the investment community, police on Wednesday detained a suspect in connection with DB Stock Broking, a company alleged to have defrauded investors of nearly Rs7,000 crore, says a report from Deccan Chronicle.   According to the report, Monalisa Das,...

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Moneylife Digital Team 13 September 2024
PN Gadgil Jewellers Ltd (PNG), a Maharashtra-based jewellery chain, has come out with an initial public offering (IPO). One of the interesting aspects of the IPO is the exorbitant compensation to the management as a percentage of profit. The compensation of key managerial personnel (KMP) as a...

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Moneylife Digital Team 26 August 2024
In a shocking revelation that has sent ripples through India's financial sector, the Securities and Exchange Board of India (SEBI) has uncovered a calculated and extensive fraud allegedly perpetrated by the promoters of Debock Industries. The company, which initially listed on the Innovators...

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The Finance Bill 2024 had proposed the removal of indexation for all capital assets.    The implications of the change were earlier commented upon in this column on 28 July 2024.   One of the points highlighted in the article was that the change, inter alia, hit hard the investments made in...

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Last week, finance minister (FM) Nirmala Sitharaman asked public sector banks (PSBs) to make concerted efforts to mobilise deposits through special drives because deposits have been lagging behind loan growth. By July-end, deposits grew 10.6% year-on-year compared to a 13.7% growth in loans....

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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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