SEBI fines IIFL Securities for violation of norms related to the client funds

Brokerage businesses handle significant client money and hence are supposed to be managed with extreme discipline. Regulations are well laid out in that regard. However, time and again we come across cases that raise doubt on this underlying presumption. Today, SEBI passed an adjudication order against IIFL Securities Limited (IIFL) for some serious violations – … Read more

Promoters feud may be nearing end at Indigo

The Company has called for an extraordinary general meeting (EGM) on 30 December, seeking approval to amend it’s Articles of Association (AoA) and remove restrictions on promoter share transfer. Key points to note – Indigo has two founders – Rahul Bhatia and Rakesh Gangwal Bhatia group owns 37.83% stake of Indigo and Gangwal group 36.61% … Read more

Anil Ambani’s firm continues to win legally in the metro project dispute

The Supreme Court has again ruled in favor of Delhi Airport Metro Express Pvt Ltd (DAMEPL) whereby it has upheld the 2017 arbitral award of Rs 4,600 crore payable by Delhi Metro Rail Corporation (DMRC) to DAMEPL. Key points to note – DAMEPL is a consortium between Reliance Infrastructure Limited and Construcciones y Auxillar de … Read more

Invesco moves NCLT against Zee. Motive and logic unclear.

The move is reasoned as due to the failure by Zee to call for EGM as requested by Invesco – to remove Puneet Goenka and appoint 6 new independent directors proposed by Invesco. It’s difficult to defend the decision because – As per regulations, Zee still has time till October 3, 2021 to call for … Read more