ED Probes Franklin Templeton, Its Officials for Money Laundering
IANS
2
The enforcement directorate (ED) has registered a case of money laundering against Franklin Templeton and its senior officials.
A senior ED official related to the probe told IANS, We have registered a case of money laundering against Franklin Templeton and its senior officials.
The official said the agency registered the case on the basis of an FIR (first information report) lodged by the economic offences wing (EOW) of the Chennai police.
Notably, the EOW of the Chennai police had registered an FIR against the beleaguered Franklin Templeton Asset Management India Pvt Ltd and Franklin Templeton Trustee Services Pvt Ltd for hatching a criminal conspiracy to defraud three lakh investors by causing wrongful loss to them and unlawful gain to themselves by committing various offences under the IPC (Indian Penal Code).
Nifty, Sensex may move sideways until the US market ends its sharp downturn – Thursday closing report
Moneylife Digital Team
0
We had mentioned in Wednesday’s closing report that Nifty, Sensex to log in more gains. On Thursday, the indices opened lower and rallied but still ended in the red. On the NSE, there were 1,022 advances, 862 declines and 85 unchanged.
The trends of the major indices in the course of Thursday’s trading are given in the table below:
Wipro announced that it will acquire Capco, a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific, for USD 1.45 billion.
In a major relief for India s working class, the Employees Provident Fund Organisation (EPFO) has decided to keep interest rates on Provident Fund deposits for the financial year 2020-21 unchanged at 8.5 per cent.
The Central Board of Direct Taxes will provide relief to NRIs, foreign visitors facing double taxation for overstaying in India due to lockdown and suspension of international flights during current financial year (FY21).
1
Terming Sahara India Financial Corp Ltd as an entity not fit & proper , market regulator Securities and Exchange Board of India (SEBI) has cancelled registration of the Sahara group unit as sub-broker of National Stock Exchange (NSE) and BSE.
In an order, G Mahalingam, whole-time member (WTM) of SEBI, says, Subrata Roy Sahara is a promoter and continues to hold substantial shareholding in Sahara India Financial Corp and therefore, is also capable of exercising control and influence over the management of the Sahara India Financial Corp, thereby making it not a ‘fit and proper person’ in terms of Regulation 7(2)(e) read with Schedule II of the Intermediaries Regulations, to continue to act as a sub-broker.