Posts in category Business Standard
Sebi bans Manpasand Beverages, 3 top officials from market for 3 years (01-05-2024)
Markets regulator Sebi has barred Manpasand Beverages Ltd (MBL) and its three top officials from the securities markets for three years and imposed a penalty totalling Rs 68 lakh on them for manipulating and mis-stating the company's financial statement.
In its order, the regulator said that the financial statements of the company were manipulated and mis-stated for financial years 2018-19 and 2019-20.
Apart from Manpasand Beverages, those restrained by Sebi are -- the company's promoter, chairman & managing director (CMD) Dhirendra Singh, promoter and executive director Abhishek Singh and chief financial officer (CFO) Paresh Thakkar.
Also, these four entities have been fined Rs 17 lakh each, which needs to be paid within 45 days, Sebi said in its 55-page order passed on Tuesday.
Additionally, Dhirendra Singh, Abhishek Singh and Paresh Thakkar have been prohibited from holding position of director or key managerial personnel in any listed public company or any intermediary ...
Bitcoin slide: A cause for concern or a buying opportunity? (01-05-2024)
The cryptocurrency is down 14 per cent in April, the most since it slumped 16 per cent in November 2022
Sebi makes nominations optional for jointly-held mutual fund accounts (01-05-2024)
Capital markets regulator Sebi on Wednesday made the nomination optional for jointly-held mutual fund accounts in a bid to promote ease of doing business.
Additionally, Sebi allowed fund houses to have a single fund manager to oversee commodity and foreign investments. This would reduce the cost of managing the fund.
These came after a working group constituted by Sebi reviewed mutual fund regulations and recommended measures to promote the ease of doing business.
Based on the recommendation of the working group, a public consultation was carried out suggesting the option to make joint mutual fund account nominations optional and permitting fund houses to have a single fund manager to oversee commodity and foreign investments.
"Accordingly, it has been decided that the requirement of nomination ....for mutual funds shall be optional for jointly held mutual fund folios," the Securities and Exchange Board of India (Sebi) said in a circular.
Experts believe that the relaxation of ...
Gold price falls Rs 10 to Rs 72,590, silver falls Rs 100 to Rs 83,400 (01-05-2024)
The price of 22-carat gold also declined by Rs 10, with the yellow metal selling at Rs 66,540
Binance founder Changpeng Zhao sentenced to four months in prison (01-05-2024)
Zhao pleaded guilty in November for failing to implement an adequate money laundering program at Binance
May 1 holiday: Are Indian stock markets NSE, BSE open today for trading? (01-05-2024)
In May, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed for two days
ED seizes funds worth Rs 90 crore kept in Binance, ZebPay, WazirX wallets (30-04-2024)
The Enforcement Directorate on Tuesday said it has taken possession of funds worth Rs 90 crore, kept in cryptocurrency wallets of exchanges like Binance, ZebPay and WazirX, as part of a money laundering investigation linked to an online gaming app "scam".
"These crypto assets were subsequently taken into possession and transferred into the crypto wallet of the ED," the federal agency said in a statement.
The investigation pertains to an online gaming scam app "scam" called 'E-Nugget' that masqueraded as a gaming platform and "promised" users high returns on their investments.
An FIR filed at the Park Street Police Station of Kolkata became the basis of the ED case that was registered under the provisions of the Prevention of Money Laundering Act (PMLA).
The app offered a series of enticing games designed for real-money wagering promised users hefty commissions and painted a picture of a "golden investment" opportunity, the ED said.
However, this facade quickly fell apart once ...
BSE to increase transaction charges on two options contracts from May 13 (30-04-2024)
BSE increased charges across various turnover slabs by 24% to 32%
With ETF demand cooling, Bitcoin faces worst month since FTX crash (30-04-2024)
The original cryptocurrency is down 14% in April, the most since it slumped 16% in November 2022. The US-ETF induced mania took Bitcoin to a record high of almost $74,000 in March
Markets slide after fresh record highs; Sensex ends 188 points lower (30-04-2024)
Investors are concerned that the Fed may stick to its hawkish messaging. Analysts expect Fed Chair Jerome Powell to bolster expectations about interest rates staying higher for longer