The Securities Appellate Tribunal (SAT) has granted an interim stay on markets regulator Sebi order that had slapped a penalty of Rs 25 crore on Yes Bank in a case of mis-selling AT-1 bonds. Apart from penalising Yes Bank, Sebi in its order in April, imposed a fine of Rs 1 crore on Vivek Kanwar, who was the head of the private wealth management team, and Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga. The two individuals were part of the private wealth management team at the time of the violation.
Sebi alleged misrepresentation by the bank and certain officials for not informing investors of the risk involved while selling the AT -1 (Additional Tier-1) bonds in the secondary market.
Morepen Laboratories announced that the Hon ble Securities Appellate Tribunal (SAT) by an order pronounced on 15 April 2021 (hosted on website of the SAT on 24 April 2021), quashed and set aside the Order dated 24 September 2019 passed by the Securities and Exchange Board of India (SEBI) whereby SEBI had restrained the company from buying, selling or otherwise dealing in securities and accessing the securities markets for one year from the date of the SEBI Order.
It may be mentioned that the SEBI order relates to a GDR issued made by the company way back in 2003.
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The Income Tax Department has issued refunds worth over Rs 2.62 lakh crore to more than 2.38 crore taxpayers in 2020-21. This include Rs 87,749 crore personal income tax refunds to 2.34 crore taxpayers and Rs 1.74 lakh crore worth corporate tax refunds in 3.46 lakh cases. The refunds issued in 2020-21 marks an increase of almost 43.2 per cent, the I-T department said in a statement. Central Board of Direct Taxes (CBDT) has issued refunds of more than Rs 2.62 lakh crore to more than 2.38 crore taxpayers from 1st April, 2020 to 31st March, 2021, the statement said. The total refunds issued in 2019-20 were worth Rs 1.83 lakh crore.
Gold ornaments worth Rs two crore have been seized from a vehicle by election department officials at the border village of Gorimedu here, a senior official said. The vehicle, coming from neighouring Tamil Nadu, was intercepted by the flying squad of the election department on Friday night and checks revealed it to be carrying the ornaments without proper documents, Chief Electoral Officer Shurbir Singh told PTI. The same day, Rs 50 lakh cash was seized from a vehicle in Karaikal and 3,700 litres of rectified spirit worth Rs 17 lakh, in Puducherry, he said The vehiclehas been impounded and a probe was on, he said.
Himalaya Food International has further paid an amount of Rs 1.80 crore to Union Bank of India against OTS it sanctioned last month.
The total amount paid to Union Bank of India is Rs 3.78 crore. The total amount paid to four banks against OTS till now is Rs 17.06 crore.
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