Reserve Bank of India (RBI) has imposed a penalty of Rs89.95 lakh on five cooperative banks for non-compliance with RBI directions or prohibitory orders. The highest penalty of Rs59.90 lakh has been imposed on Nashik-based Janalaxmi Cooperative Bank Ltd.
Market regulator Securities and Exchange Board of India (SEBI) has barred Jayesh Shantilal Raval (noticee), proprietor of Ways2Star for two years for providing unregistered investment advisory services. While imposing a fine of Rs6 lakh, SEBI also asked Mr Raval to refund Rs48.81 lakh collected as fees from clients, investors or complainants.
The government has directed the NCCF and the NAFED to start buying 5 lakh tonnes of onion for the country s buffer requirement directly from farmers as the Rabi-2024 harvest has begun arriving in the market, the Food Ministry said on Tuesday.
The Enforcement Directorate (ED) has attached immovable properties worth Rs 124.57 crore belonging to RS Infrastructure Private Ltd, M/s Kenwood Mercantile Private Ltd, M/s Goodfaith Builders Private Ltd and other suspects involved in money laundering in connection with the case of M/s Religare Finvest Limited and others, an ED official said.
On 21st March, media headlines said that M Damodaran, former chairman of the Securities & Exchange Board of India (SEBI) and founder-chairman of Excellence Enablers, an organisation that champions corporate governance, had been hit with damages of Rs206 crore by the International Court of Arbitration (ICA) of the USA in connection with a breach of contract issue. The order from an international court shocked corporate India.