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Quoting a source, the report says, The committee was upset over the officer’s failure to appear earlier and the message was conveyed to him in strong words that the committee is meant for the issues of special public interests and he will have to make himself available whenever summoned in future.
Gaurav Soni, an investor, had petitioned the committee alleging that millions of people had invested in PACL, which was not returning investors’ money. He also alleged high-handedness by SEBI in refunding money to investors of PACL.
As SEBI has detailed information about the company, the committee had summoned Mr Tyagi to understand the whole issue. ....
0 Nazara Technologies Ltd (NTL) is a gaming and sports media platform with presence in India and across emerging markets, such as Africa, and developed markets such as North America. It offers gaming products across the interactive gaming, eSports and gamified early-learning ecosystems, including the World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early. Premium Content ....
2 The Supreme Court on Wednesday sought reply from Centre and states, on a plea alleging cancellation of nearly four crore ration cards, in the absence of linkages with the Aadhaar card.
A bench headed by Chief Justice S.A. Bobde and comprising justices A.S. Bopanna and V. Ramasubramanian said: The matter is too serious. We have to hear it.
The observation came on a plea filed by Koili Devi, mother of an 11-year-old girl, who allegedly died of starvation on September 28, 2017. The top court noted that this matter should not be treated as adversarial.
Insistence on Aadhar and biometric authentication had led to the cancellation of nearly 4 crore ration cards in the country according to the Union of India. The Union of India casually gives an explanation that these cancelled cards were bogus, said the plea. ....
8 The Reserve Bank of India (RBI) has imposed a penalty of Rs2 crore on the State Bank of India (SBI) for contravention of provisions of Section 10 (1) (b) (ii) of the Banking Regulation Act, 1949 and has issued specific directions on payment of remuneration to SBI employees in the form of a commission. However, this amount is minuscule compared with commissions earned by the Bank and its employees by mis-selling insurance policies and investment products like mutual fund schemes. SBI used to issue prepaid cards under the name of achiever s card to its own employees and, according to our sources, these were used for crediting commission to employees for selling products. ....
2 The parliamentary standing committee on finance, chaired by Jayant Sinha, has asked regulators Securities & Exchange Board of India (SEBI) and Reserve Bank of India (RBI) to review their regulations in the face of serious default crisis at Infrastructure Leasing & Financial Services (IL&FS). The committee also asked ministry of finance to seek factual report from the regulators on enforcement of credit rating agencies (CRAs) regulations, particularly action taken against CRAs who gave stable rating to IL&FS prior to the default crisis.
Explaining rationale for fresh evaluation of the credit rating framework, the committee says the regulations should be suitable modified or tightened, benchmarking them on greater objectivity, transparency and credibility in the credit rating framework and process. ....