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Posted Date : 05-Dec-2013 , 09:01:47 am | Posted By CASANSAAR
As the NSEL crisis deepens, role of at least 32 brokerage firms has come under the scanner for allegedly charging high transaction charges and providing portfolio management and margin funding services to their clients in violation of regulations.These brokers were apparently working as Ca...
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Posted Date : 04-Dec-2013 , 09:43:35 am | Posted By CASANSAAR
The long arm of the law seems to be catching up with Jignesh Shah and his trusted lieutenants - Joseph Massey and Shreekant Javalgekar. The Mumbai police has attached Jignesh Shah's bungalow in Juhu, Mumbai's posh suburb, and shares of Financial Technologies (FT), his business empire's flagship com...
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Posted Date : 28-Nov-2013 , 07:54:21 am | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (SEBI), on Wednesday, allowed Limited Liability Partnerships (LLPs), a hybrid between a partnership firm and company, to get membership of stock exchanges in the country. LLP is a corporate business vehicle that provides benefits of li...
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Posted Date : 08-Nov-2013 , 12:12:55 pm | Posted By CASANSAAR
The Economic Offences Wing (EOW) of the Mumbai Police on Thursday issued orders to attach around 25 properties belonging to defaulters in the matter related to the settlement crisis at the National Spot Exchange (NSEL). According to a senior EOW official, the police have identified a total ...
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Posted Date : 03-Nov-2013 , 05:36:07 pm | Posted By CASANSAAR
The Mumbai police will soon send details acquired from a backup server of Financial Technologies, the promoter of National Spot Exchange Ltd (NSEL), for forensic examination. The details could, a senior police source said, reveal whether there was interaction via email b...
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Posted Date : 01-Nov-2013 , 08:18:06 am | Posted By CASANSAAR
To ensure operational ease in providing services to their clients, brokers have been allowed to retain up to Rs 10,000 in trading accounts of active customers after obtaining their written consent. As per the existing practice, the brokers were supposed to settle the funds and securities in...
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Posted Date : 01-Nov-2013 , 08:07:56 am | Posted By CASANSAAR
Jignesh Shah, the founder and non-executive vice chairman of MCX, resigned on Thursday from the board of Multi Commodity Exchange of India Ltd (MCX), India's largest commodity bourse. Just hours after resigning, Shah was ensconced with his core team with which he had built his financial sec...
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Posted Date : 07-Oct-2013 , 08:37:13 am | Posted By CASANSAAR
The arm of the Mumbai police that is investigating the NSEL fraud has kept the option of framing criminal charges against brokers open after ascertaining whether they have connived with entities which have defaulted in settling investor dues worth Rs 5,500 crore."We have included...
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Posted Date : 21-Aug-2013 , 08:40:07 pm | Posted By CASANSAAR
As crisis at National Spot Exchange continues to deepen, the Corporate Affairs Ministry has also begun looking into the matter to ascertain whether there have been any violations of the Companies Act. "We have received a reference on NSEL issue from the Consumer Affairs Ministry. We a...
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Posted Date : 21-Aug-2013 , 07:58:15 am | Posted By CASANSAAR
The government has been enhancing quantitative limits for FIIinvestments in debt segment, includinggovernment securities (G-Secs) to help develop rupee debt markets, Parliament was informed today. To augment foreign portfolio investment inflows by improving investment a...
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Posted Date : 17-Aug-2013 , 10:26:37 am | Posted By CASANSAAR
Commodity market regulator Forward Markets Commission (FMC) has ordered a forensic audit of National Spot Exchange Ltd (NSEL), raising serious questions about the credibility of books of account and record maintenance at the crisis-ridden bourse.The exchange will have to appoint ...
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Posted Date : 16-Aug-2013 , 05:14:11 pm | Posted By CASANSAAR
The S&P BSE Sensex fell over 800 points in intraday trade on Friday, while 50-share Nifty index suffered its biggest percentage drop since July 2009. The fall was led by sharp selling in frontlinestocks on fears of U.S. stimulus tapering which could start as soon a...
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Posted Date : 16-Aug-2013 , 07:54:56 am | Posted By CASANSAAR
The government is likely to order a multi-agency probe into the National Spot Exchange (NSEL) fiasco, besides getting central agencies such as Food Corporation of India and the Central Warehousing Corporation to take stock of the commodities lying in warehouses across the country...
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Posted Date : 14-Aug-2013 , 07:36:31 am | Posted By CASANSAAR
The National Spot Exchange (NSEL) has suspended trading in e-seriescontracts till further notice after the Forward Markets Commission (FMC) banned new commodity futures contracts due to alleged violations of norms. This has put investors with e-series units in a difficult position, as...
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Posted Date : 11-Aug-2013 , 09:05:34 am | Posted By CASANSAAR
Mohan India is essentially a shell company. In 2011-12, the last date for which its financials were available, the company earned a net profit of Rs 2,044, and had revenues of Rs 72,400. Its balance sheet size was about Rs 17 lakh. Yet Mohan India, along with a sister concern Tavishi Enterprise...
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Posted Date : 06-Aug-2013 , 07:41:22 am | Posted By CASANSAAR
The government is expected to ban trading in e-series contracts on the National Spot Exchange Ltd (NSEL), the only contracts being traded on the platform. On the NSEL platform under e-series contracts, retail investors can buy and sell commodities in demat form. This is a unique market segm...
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Posted Date : 17-May-2013 , 08:09:30 am | Posted By CASANSAAR
Signalling that it had finally hit turnaround street, the scam-hitMahindraSatyam on Thursday declared a dividend of 30% for the first time after it was rocked by the worst corporate scandal in India's history. The dividend declared for fiscal 2012-13 despite an 11% drop in...
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Posted Date : 07-May-2013 , 08:54:38 am | Posted By CASANSAAR
Keen to woo a new class of young retail investors, a dozen brokers are gearing up to launch Facebook apps that will allow clients to execute stock trades on the BSE platform from the familiar comfort of their Facebook accounts. Kerala-based retail brokerage Geojit BNP P...
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Posted Date : 22-Apr-2013 , 09:16:09 am | Posted By CASANSAAR
A government committee has turned down an RBI proposal to limit FII investments in the secondary market, considering the significant role foreign investments can play in propping up the economy. "The suggestion made by the RBI of limiting FII investments to secondary market was discussed. I...
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Posted Date : 17-Apr-2013 , 08:45:57 am | Posted By CASANSAAR
Shares of companies engaged in gold loan business like Muthoot Finance and Manappuram Finance have extended their yesterday’s fall and trading lower by up to 10% after the sharp slide in gold prices. Manappuram Finance is locked in maximum lower circuit of 10% for a second consecutive da...
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Posted Date : 02-Apr-2013 , 04:11:18 pm | Posted By CASANSAAR
Billionaire Ambani brothers on Tuesday struck a Rs 1,200-crore deal wherein Mukesh will use his younger sibling's optic fibre network for launch of his telecom venture.Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Commu...
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Posted Date : 01-Apr-2013 , 10:38:13 am | Posted By CASANSAAR
Chitra Ramkrishna is set to become the first female head of the National Stock Exchange (NSE) in its nearly 20-year history of operations as a bourse. On Monday, Ramkrishna will take over the reins of NSE, the country’s largest bourse by daily turnover and number of trades, as its Ma...
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Posted Date : 24-Mar-2013 , 05:17:13 pm | Posted By CASANSAAR
Amid an intense selling pressure in the stock market, the two Reliance groups headed by Mukesh and Anil Ambani have seen their respective market values skid by about Rs 10,000 crore each in a week's time. With two listed companies, the Mukesh Ambani-led Reliance Industries group saw its mar...
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Posted Date : 24-Jan-2013 , 08:05:08 am | Posted By CASANSAAR
RBI has barred foreign institutional investors (FIIs) from buying shares in Pantaloon Retail Ltd, after the company breached the overall limit of 24 percent of its paid-up capital. "No further purchases of shares of this company would be allowed through stock exchanges in India on beh...
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Posted Date : 18-Jan-2013 , 04:33:01 pm | Posted By CASANSAAR
Indian shares ended at fresh two-year high with 30-share index, Sensex notching key 20,000 resistance levels on Friday led by overseas inflows into the riskier assets. Risk appetite surged after government partially deregulated diesel prices yesterday followed by upbeat economic...
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Posted Date : 27-Dec-2012 , 04:51:39 pm | Posted By CASANSAAR
The government has notified the country's newest bourse MCX-SX as a recognised stock exchange, paving the way for initial public offers, listing and trading of shares its platform. MCX-SX (MCX Stock Exchange) has already got an approval from Sebi (Securities and Exchange Board of India) t...
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Posted Date : 25-Dec-2012 , 08:41:47 am | Posted By CASANSAAR
Leading bourse BSE today said it will suspend trading in shares of 31 companies, including Jyothy Consumer Products andJupiter Bioscience, with effect from January 16 for their failure to comply with various provisions of the exchange's listing agreement. These companies have not fulfille...
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Posted Date : 06-Dec-2012 , 10:08:14 pm | Posted By CASANSAAR
BSE Ltd, the operator of the Bombay Stock Exchange which has lost market share to rivals, has chosen 14 banks for a share offering planned for the first half of 2013, its chief executive said. The company, which operates Asia's oldest stock exchange, is seeking an initial public share offering or...
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Posted Date : 06-Dec-2012 , 07:26:55 am | Posted By CASANSAAR
Securities transaction tax (STT) collections dipped 12.9% during the April to November 2012 period, as weak investor sentiments over the past several months resulted in a dip in trading volumes.The Income-tax department collected Rs 2,905 crore in STT during the period, compared with ...
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Posted Date : 05-Dec-2012 , 07:56:36 am | Posted By CASANSAAR
The Bombay High Court has directed thatReliance Industries be made a party to the case between the Securities and Exchange Board of India (Sebi) and right-to-information (RTI) activist-cum-lawyer Arun Agarwal, who is seeking release of names involved in an insider ...
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