INDIAN EXPRESS - CHEQUES & BALANCES

Sucheta Dalal 11 Jun 2007
A few months ago, 17 investor associations in one of their regular interactions with the Securities and Exchange Board of India (Sebi) passed a unanimous resolution appreciating the regulator’s tough stand on the DLF issue. That was when Sebi had refused to clear DLF’s earlier proposal...

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Sucheta Dalal 04 Jun 2007
For many of us, the world is divided into two kinds of people — those who spend a lot of their time in cyberspace and conduct many of their personal transactions on the Net and those who don’t. The first category does its banking, shopping and trading on the Net and looks forward to the...

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Sucheta Dalal 28 May 2007
The demerger of business families, with all the trauma and acrimony attached to it, is fairly common in India. But it was the bitter and ferocious war between the Ambani brothers and its continued after-shocks that jolted Indian businessmen to think seriously about succession planning. A question...

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Sucheta Dalal 21 May 2007
Last week, investigations into the fraud at Stock Holding Corporation of India Ltd (SHCIL) took another decisive leap with the appointment of KPMG’s Fraud Detection and Forensics Advisory team to investigate a slew of management decisions that we have exposed in the past months. Two...

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Sucheta Dalal 14 May 2007
The Reserve Bank of India (RBI) responded to mounting complaints from credit card users about harassment through aggressive marketing of credit cards. This basically involved ambushing people at shopping malls or outside airports and even stealing exclusive databases to dump cards on people. It...

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Sucheta Dalal 07 May 2007
In a surprise development, the Custodian has moved the Bombay High Court to figure out the source of Ketan Parekh’s self-admitted Rs 72.2 crore repayment to Madhavpura Mercantile Cooperative Bank (MMCB) between 2002 and 2005. The Custodian’s move probably explains several recent actions...

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Sucheta Dalal 30 Apr 2007
SHCIL is India’s largest depository company and acts as custodian to the capital market transactions of all of India’s top public sector financial institutions, insurance companies and nationalised banks. On April 25, the board of directors of Stock Holding Corporation of India (SHCIL)...

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Sucheta Dalal 16 Apr 2007
The government has finally ordered an investigation into Stock Holding Corporation of India (SHCIL), India’s largest Depository Participant (DP) for a series of shenanigans documented by The Indian Express over the last few weeks. SHCIL was originally set up as a potential Central...

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Sucheta Dalal 09 Apr 2007
Over the last decade, one of the biggest challenges of securities regulators has been to sensitise the judiciary to the nuances of capital market regulation. We have seen strange judicial orders from appellate tribunals, the higher judiciary, and sometimes even the capital market regulator. The...

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Sucheta Dalal 02 Apr 2007
The Reserve Bank of India’s (RBI) Friday night blow seem set to throw Indian business into another long spell of doom and gloom as the liquidity crunch administered by it begin to play out. Interest rates will rise further leading to possible defaults in consumer loans and mortgage payments,...

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Sucheta Dalal 26 Mar 2007
On the 10th anniversary of what was billed the dream budget, the devil in the details continue to confound different sections of industry, not merely steel and cement manufacturers. Meanwhile, the middle class is fuming at rising local and central taxes, levies, tariffs as well as lack of...

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Sucheta Dalal 19 Mar 2007
On last Friday, the reverse delisting exercise of Essar Shipping came to a close after a week long extension from March 9 to March 16. This is probably among the last few companies to delist before the Securities and Exchange Board of India (Sebi) examines its plan to change the delisting rules....

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