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State-owned United India Insurance Co Ltd has paid Rs10.13 lakh to settle compliance issues with market regulator Securities and Exchange Board of India (SEBI). Axis Bank Ltd, in which United India Insurance is a promoter, also paid Rs41.43 lakh as settlement for failing to disclose insider trading within the stipulated time. In fact, SEBI found Axis Bank reported the transactions after a delay of over 1,000 days, in violation of regulation 7(2)(a) of the Prohibition of Insider Trading (PIT) regulations.
SEBI issued two separate orders to settle the issues. The orders say, .it is hereby ordered that the proceedings that may be initiated for the default..are settled qua the applicants..SEBI shall not initiate any enforcement action against the applicant for the said defaults.this order disposes of the proceedings that may be initiated for the default as mentioned..and passing this order is without prejudice to the right of SEBI to take enforcement action including comme
Picture for representational purpose only.
MUMBAI: Five years after a 24-year-old Mulund man died following his bike s collission with a stationary dumper on the Eastern Express Highway, a Motor Accident Claims Tribunal has held the heavy vehicle driver guilty of negligence and directed its insurance company to pay a compensation of around Rs 20 lakh to the victim’s family.
The tribunal considered the victim’s class ten first class results to conclude that he was a good student and pegged his national monthly income at Rs 9,000. “Deceased was residing at Mulund, Mumbai, where reasonably good earning job prospects are more for SSC pass. .it can safely be presumed that physically and intellectually deceased was capable to get some job or work, earning him at least Rs 9,000 per month, but for the untimely death,” the tribunal said.