Govt aims to curb misuse of Section 10(10D) of I-T Act with this proposal; new rule applicable on policies issued on or after April 1, 2023
Posts in category Business Standard
OFCD case: Sebi orders attachment of Subrata Roy’s bank, demat accounts (01-02-2023)
Sebi on Wednesday ordered the attachment of bank and demat accounts of Sahara Group chief Subrata Roy and three others to recover Rs 6.48 crore for violating regulatory norms by two group companies.
The recovery proceedings have been initiated against these four persons for violating regulatory norms in the issuance of optionally fully convertible debentures (OFCDs) by two group companies.
Apart from Sahara, others whose bank and demat accounts were attached are Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bharrgava.
The recovery proceedings have been initiated against these four persons to recover Rs 6.48 crore, which includes all costs, interests, charges and expenses etc, the Securities and Exchange Board of India (Sebi) said in the attachment order.
In its notice, Sebi has directed all banks to attach all accounts, including lockers, of these four persons.
All banks, depositories and mutual funds have been directed not to allow any debit from accounts of these four pers
Rupee falls by 2 paise to close at 81.90 against US dollar on Budget day (01-02-2023)
The rupee pared initial gains and settled 2 paise lower at 81.90 (provisional) against the US dollar on Wednesday after Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24.
Forex traders said investors stayed on the sidelines, as they are waiting for the outcome of the US Federal Reserve meeting later in the evening.
At the interbank foreign exchange market, the rupee opened at 81.76 against the greenback and finally settled at 81.90, down 2 paise over its previous close.
During the session, the rupee touched an intraday high of 81.68 and a low of 82.03 against the American currency.
On Tuesday, the rupee depreciated by 36 paise to close at a three-week low of 81.88 against the US dollar after the Economic Survey 2022-23 said the domestic unit may remain under pressure on account of plateauing of exports and subsequent widening of the current account deficit.
Sitharaman in her Budget speech retained the country’s fiscal deficit target of 6.4 pc in the Revise
Gold prices edge down as traders strap in for US Fed policy decision (01-02-2023)
Gold tends to appreciate on expectations of lower interest rates, which reduce the opportunity cost of holding non-yielding bullion
Rout in Adani Group stocks triggers panic sell-off in PSU banks (01-02-2023)
A Bloomberg report said that Credit Suisse Group AG has stopped accepting bonds of Gautam Adani’s group of companies as collateral for margin loans
Aquaculture stocks soar after govt slashes customs duty on shrimp feed (01-02-2023)
Shares of Avanti Feeds, Coastal Corporation, and Waterbase soared up to 20 per cent in trade, as against a 2.05 per cent climb in the S&P BSE Sensex
Tesla reveals loss of $204 million from Bitcoin investments in 2022 (01-02-2023)
Elon Musk-owned Tesla has revealed that the company recorded a $204 million impairment loss in 2022 on its Bitcoin investments
Budget 2023 ticks all checkboxes; Adani group stocks played spoilsport (01-02-2023)
It is typical of markets to rally ahead of the budget proposals and see some profit taking once the measures are announced. This time, however, the Adani group stocks played spoilsport
Budget 2023 proposals will put India firmly back on the FII’s radar (01-02-2023)
The measures, overall, will push private capex higher at a time when the global economy is facing recessionary headwinds, says Andrew Holland
Here are 3 key reasons why Sensex leapt 1,200 pts intra-day on Budget day (01-02-2023)
Budget 2023: Analysts said the Budget push in the capital expenditure (capex) outlays across sectors and the income tax relief have been the top boosters to support the domestic economy