DAILY NEWS: OUR PICKS


Moneylife Digital Team 24 June 2022
Audit regulator the National Financial Reporting Authority (NFRA) has found several deficiencies in the statutory audit conducted by SRBC & Co LLP, a member of EY (Ernst & Young), of Infrastructure Leasing & Financial Services (IL&FS) for FY17-18. According to the audit quality review report...

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Moneylife Digital Team 24 June 2022
Ajay Shah, a former consultant with the ministry of finance (MoF) between 2004 and 2009 and a key accused in the National Stock Exchange (NSE) colocation (colo) scam, is under investigation for holding sensitive documents falling under the Official Secrets Act (OSA), says a report from...

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UPDATED on 25 June 2022 at 11.35am to include a comment from ZestMoney   We Indians have rushed to embrace rapid advances in technology without the early warm-up phase that allowed many in the developed world to recognise their virtues as well as risks. This is proving to be dangerous...

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Amitabha Banerjee Amitabha Banerjee 24 June 2022
A few months after taking charge of credit for Pakistan, I was told to tour Pakistan in order to get a first-hand feel of the country.   This was in the mid-1990s when relations between India and Pakistan were not quite cordial but not openly hostile either. Being an Indian, I was...

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Fakespot is an artificial intelligence (AI) tool that helps you detect fake reviews and scams. It is a Chrome extension which needs to be installed one-time. The extension is free to use. Whenever you visit shopping websites like Amazon, eBay, etc, you come across (star) ratings for each...

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Moneylife Digital Team 24 June 2022
There is a mad rush for passive mutual fund (MF) schemes in the past few years. While the earliest passive schemes have been modelled on Nifty 50, many fund houses have launched schemes based on Nifty Next 50 Index which tracks the performance of 50 companies from the constituents of the...

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Vinita Deshmukh Vinita Deshmukh 24 June 2022
The state information commissioner (SIC) of Aurangabad has ordered the public authorities of the public works department (PWD), across Maharashtra, to promptly provide information about expenditure on maintenance of the government guest houses and circuit houses, many of which are badly...

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Moneylife Digital Team 24 June 2022
The Reserve Bank of India (RBI) has warned of risks from cross-border outsourcing of information technology (IT) services and recommended that regulated entities closely monitor such operations. The RBI’s observations come at a time when it is considering a mandate for domestic processing...

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Moneylife Digital Team 24 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has issued a demand notice to Future Enterprises asking the company to pay the penalty of Rs5 lakh imposed in March for alleged non-disclosure of arbitration proceedings initiated by Amazon before the Singapore International...

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Justin Elliott, Jeff Ernsthausen  and   Paul Kiel (ProPublica) 24 June 2022
This story was originally published by ProPublica.   In the high-stakes world of high-speed, short-term securities trading, investors can reap massive payouts but often face higher tax rates due to the nature of their business. But one of America's richest men somehow earns billions...

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We all make mistakes in investing. Mistakes are not just instances where we lost money, but also where we may have made some money, thanks to the kindness of market conditions. I can talk about mistakes I made or some I have seen. I am sure that there will be more mistakes to be made, so long...

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The high court made it clear that the state government cannot deny information pertaining to the vigilance department involving allegations of corruption and human rights violations, and disclosure that does not touch upon any of the sensitive and confidential activities undertaken by the...

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Moneylife Digital Team 23 June 2022
The Securities and Exchange Board of India (SEBI) has imposed a combined fine of Rs1.62 crore on nine entities for manipulating shares of Sterling Green Woods Ltd.,(SHWL) during the period April-July 2009. The regulator levied a fine of Rs18 lakh each on  Radhe Krishna Broking, Harshad...

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Moneylife Digital Team 23 June 2022
Varun Beverages chairman Ravi Kant Jaipuria has settled a case related to alleged violations of insider trading rules after paying nearly Rs56 lakh towards settlement charges to the Securities and Exchange Board of India (SEBI).   Mr Jaipuria had allegedly communicated unpublished...

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Moneylife Digital Team 23 June 2022
The income-tax (I-T) department has said that the 1% TDS on transfer of virtual digital assets would be levied on net transaction value and the onus of deducting the tax would primarily be on the exchanges.   The central board of direct taxes (CBDT) issued an FAQ (frequently asked...

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Moneylife Digital Team 22 June 2022
The central bureau of investigation (CBI), on Wednesday, arrested Sanjay Gupta, owner and promoter of Delhi-based OPG Securities Pvt Ltd, in connection with the National Stock Exchange (NSE) co-location (Colo) scam in which brokers allegedly abused the facility to make gains by getting early...

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Moneylife Digital Team 22 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs30 lakh on Reliance Industries Limited (RIL) and two of its compliance officers, Savithri Parekh and K Sethuraman, for not promptly disclosing the stake sales in its subsidiary company, Jio Platforms to...

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Moneylife Digital Team 22 June 2022
The Central Bureau of Investigation (CBI) has booked Kapil and Dheeraj Wadhawan, former promoters of Dewan Housing Finance Ltd (DHFL), for allegedly defrauding 17 banks for Rs34,615 crore. The agency is also conducting searches at about 15 locations in Mumbai related to the DHFL...

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Moneylife Digital Team 22 June 2022
Aster DM Healthcare (Aster), which runs hospitals, clinics, retail pharmacies, etc, has a unique business model that it operates in the GCC (Gulf Cooperation Council) as well as in India. Its network consists of 13 hospitals (1,160 beds), 109 clinics and 240 retail pharmacies in the GCC...

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Moneylife Digital Team 22 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has allowed mutual funds to resume investing in foreign stocks within USD 7 billion, which is the aggregate mandated limit for the industry.   SEBI’s decision comes in the backdrop of a correction in global markets that...

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