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    Seychelles fund proves to be Achilles heel for AI employees as bid gets rejected

    A Seychelles-based financial partner has proven to be the weak link in the bid made by a group of Air India employees for the divestment of the national carrier.The transaction advisor to the government, Ernst & Young, informed the employees of Air India that they have been unsuccessful in qualifying for the next phase of the 'disinvestment acquisition...

    • 2 hrs ago
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    SEBI rationalises compliance norms for UCC, PAN

    SEBI on Monday rationalised the compliance norms of collecting and maintaining copies of PAN (permanent account number) of clients by members of the exchanges which have commodity derivatives segment.In a circular on Monday, the Securities and Exchange Board of India (SEBI) amended provisions related to Unique Client Code (UCC) and mandatory requirement of Permanent Account Number (PAN).

    • 2 hrs ago
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    MCA strikes off over 10K companies in FY21

    The Ministry of Corporate Affairs (MCA) has struck off over 10,000 companies during the ongoing financial year, which have not carried on any business or operation for a period of two immediately preceding financial years and not made any application within such period for obtaining the status of dormant company.

    • 2 hrs ago
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    'Women Borrowers form 28% of India's Retail Credit Consumer Base'

    Latest insights from TransUnion CIBIL indicate sustained growth in the participation of women borrowers in India's retail credit market, which now includes more than 47 million active women borrowers.Over the last six years, the share of women borrowers grew to 28 per cent in September, 2020, up from 23 per cent in September, 2014, indicating increasing inclusion of women in...

    • 2 hrs ago
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    SC: NCLT can decide disputes related to insolvency of corporate debtor

    The Supreme Court on Monday held that National Company Law Tribunal (NCLT) has jurisdiction to decide disputes in connection with the insolvency of a corporate debtor.In a 138-page judgment, a bench of Justices D.Y. Chandrachud and M.R. Shah said: "NCLT has jurisdiction to adjudicate disputes, which arise solely from or which relate to the insolvency of the Corporate...

    • 2 hrs ago
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    Doldrums to continue for power distribution sector: Ind-Ra

    Ratings agency India Ratings and Research has maintained a negative outlook on the power sector for FY22, on account of a further weakening in the financial position of distribution companies due to Covid-19 led business disruptions.According to the ratings agency, the discoms relief package of Rs 1.25 trillion was expected to reduce the overall discoms dues, however, lower-than-expected...

    • 2 hrs ago
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    Sensex surges over 500 points; banking, metal stocks rise

    The key Indian equity indices opened on a positive note on Tuesday.The BSE Sensex surged 553 points to touch an intra-day high of 50,994.60 points.Healthy buying was witnessed in banking, finance and metal stocks.At 9.34 a.m., it was trading at 50,906.40, higher by 465.33 points or 0.92 per cent from its previous close of 50,441.07. It opened at 50,714.16 and has so far touched an...

    • 2 hrs ago
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    FII holdings in Nifty50 at 5-year high

    Holdings of foreign institutional investors (FII) in Nifty50 have reached a five-year high as investments flowed in at an unprecedented rate amid the pandemic.FII ownership in Nifty50 rose 170 basis points (bps) to 27.6 per cent during October-December on a quarter-on-quarter (QoQ) basis, showed a Motilal Oswal Institutional Equities. Meanwhile, holdings of domestic institutional investors (DII) in Nifty50...

    • 16 hrs ago
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    Crude oil prices rise on global tensions

    Global crude oil prices jumped above $70 a barrel on Monday for the first time since the Covid-19 pandemic began.The spike in oil prices comes after Iran-backed Houthi rebels unleashed a coordinated attack on Saudi Arabia oil facilities and military bases.Consequently, the Brent crude futures jumped above $70 a barrel on Monday.

    • 16 hrs ago
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    Bombay HC orders payout to NSEL small claimants of Rs 2-10L on priority basis

    The Bombay High Court has ruled that the competent authority (CA) in the National Spot Exchange Limited (NSEL) payment default case must distribute the amount lying in its escrow account to genuine claimants whose outstanding s between Rs 2 lakh and Rs 10 lakh on a priority basis.Hearing the appeal of a Pune-based NSEL claimant, Rabibai Mohamad Ismail, a two-judge...

    • 16 hrs ago

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