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Jammu and Kashmir High Court to State Govt: Provide Facilities to Prisoners as per SC Directions - 27.12.2019

Jammu and Kashmir High Court has asked the State Government to provide all facilities to prisoners in Union Territories of Jammu and Kashmir and Ladakh in accordance with the Supreme Court directions. The Court also emphasised upon the need to take disability audits by the two UT Governments in their respective territories.

Tags : Jammu and Kashmir High Court Prisoners

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RBI Directs Banks to Cap Stake in Insurance Companies at 30% - 27.12.2019

Reserve Bank of India has directed lenders to cut their stakes in insurers to 30%, as the banking regulator attempts to shield banks from risks arising out of their non-banking businesses and steer focus to boosting credit growth in a slowing economy.

Tags : RBI Insurance Companies

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SEBI Imposes Rs 8 Lakh Fine on Intercon Finance, 4 Other Entities for Violating Takeover Norms - 27.12.2019

Securities and Exchange Board of India while Acting against contravention of takeover norms has slapped a total fine of Rs 8 lakh on Intercon Finance Pvt Ltd and four other entities. The fine amount has to be paid "jointly and severally" by Intercon Finance and Munjal M Jaykrishna, Radhika Jaykrishna, Gokul M Jaykrishna and Paru M Jaykrishna. The matter pertains to acquisition of shares of AksharChem (India) Ltd by the entities.

Tags : SEBI Takeover

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SEBI Imposes a Penalty of Rs. 25 lakh Each on ICRA, CARE for Lapses in IL & FS Ratings - 27.12.2019

Securities and Exchange Board of India has fined credit rating agencies, ICRA Ltd. and Cooperative for Assistance and Relief Everywhere, a penalty of Rs. 25 lakh each for their failure to give proper opinion to Infrastructure Leasing & Financial Services Limited which led to lender’s default in September, 2018.

Tags : SEBI ICRA

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Delhi Court Sends Shivinder Singh to Judicial Custody in Religare Finvest Ltd Case - 27.12.2019

Delhi Court has sent Shivinder Singh, who was arrested for alleged misappropriation of funds at Religare Finvest Ltd to judicial custody till 8th January, 2020. The Court had on December 19, 2019 extended the Enforcement Directorate custody till December 26.

Tags : Delhi Court Shivinder Singh

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Supreme Court Dismisses DU’s Plea Against Highrise - 27.12.2019

Supreme Court has rejected a plea of Delhi University on account of inordinate delay in challenging a 2011 decision of Delhi Development Authority allowing a private real estate firm to construct a highrise in the university campus without any height restriction.

Tags : Supreme Court DU

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Supreme Court Raps Bengal, UP as Child Rape Cases Pile Up - 27.12.2019

Supreme Court has come down heavily on Governments of West Bengal and Uttar Pradesh for an "extremely deplorable state of affairs" with regard to trials of child rape cases. The Court, in particular, reproached the UP Government saying "if the State cannot take care of the law and order situation and reduce the number of crimes against children, then it must take the responsibility and ensure that these trials take place as early as possible."

Tags : Supreme Court Child Rape

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SEBI Issues Format for Statement of Deviation - 26.12.2019

Securities and Exchange Board of India has issued a format for statement of deviation in funds raised to be submitted by the listed entities to stock exchanges on a quarterly basis. The format comes after SEBI noted that there is no uniformity in the formats of statement of deviation or variation in proceeds of public issue, rights issue, preferential issue submitted by the listed entities to the stock exchanges.

Tags : SEBI Deviation

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RBI Introduces New Prepaid Payment Instrument for Daily Grocery Payments - 26.12.2019

Reserve Bank of India has given consumers a new option to make their daily payments at local shops and retail outlets for the purchase of daily household goods and services. In a bid to give increased impetus to small ticket digital payments RBI has introduced a new Prepaid Payment Instrument which will come with a monthly rechargeable limit of Rs 10000 and can be used only for making retail payments.

Tags : RBI Prepaid Payment Instrument

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NCLAT Rejects I-T Dept Plea Against Reliance Jio on Demerger of Tower and Fiber Units - 26.12.2019

National Company Law Appellate Tribunal has rejected petitions filed by the Income Tax Department, which raised objection over the approval granted to Reliance Jio Infocomm scheme to hive off its fiber and tower business into two separate units.

Tags : NCLAT Reliance Jio

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