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After hearing the grievances of investors and clients of Anugrah Stock & Broking Pvt Ltd (Anugrah) the Bombay High Court says there exists a prima facie case and the statutory authorities have, indeed, failed in performing their duties under the law. Especially the bench observed that market regulator Securities and Exchange Board of India (SEBI), which has wide powers, ought to have passed necessary orders in the interest of clients or constituents of Anugrah. Action, if any, taken by the authorities, including SEBI, were at a belated state, the HC noted.
The bench of justice SS Shinde and justice MS Karnik was hearing petitions filed by investor-clients of the crisis-hit Anugrah Stock & Brokers. Dr Birendra Saraf of Parinam Law Associates represented the investors during the hearing.
CDSL crosses milestone of 3 crore demat accounts ANI | Updated: Feb 13, 2021 10:49 IST
Mumbai (Maharashtra) [India], Feb 13 (ANI): Central Depository Services Ltd (CDSL) has become the first depository in the country to open over three crore active demat accounts.
The depository facilitates holding and transacting in securities electronically and facilitates settlement of trades on stock exchanges.
Of the new accounts, about 98.4 per cent come from retail investors and with an outreach of 97 per cent pin-codes, CDSL said in a statement on Saturday.
CDSL demat accounts crossed the one crore mark in August 2015, two crore mark in January 2020 and three crore mark last month.
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Coming down heavily on HDFC Bank Ltd for violating its orders, market regulator Securities and Exchange Board of India (SEBI) has asked the lender to deposit Rs158.68 crore along with interest in an escrow account and pay a penalty of Rs1 crore. SEBI found HDFC Bank violated its interim order and unilaterally invoked securities pledged by BRH Wealth Kreators Ltd (BRH) (formerly BMA Wealth Creators Ltd) and BRH Commodities Private Ltd (formerly BMA Commodities Pvt Ltd), worth Rs158.68 crore.
In the order, G Mahalingam, whole time member (WTM) of SEBI says, Given the unilateral action of HDFC Bank to avoid SEBI’s interim order, I am of the view that the alleged violations of SEBI circulars as also the failure to conduct due diligence by HDFC Bank to verify the ownership of securities pledged at the time of creation of the pledge, are not relevant for consideration at this point in time. As stated earlier, the validity of the pledge at the time of creation does not justify
Ford s U.S. sales fell 15.6% in 2020 (SPY +1.2%). Oil jumps on major crude inventory draw.
Here is the current market situation from CNN Money
North and South American markets are broadly higher today with shares in Mexico leading the region. The IPC is up 2.73% while U.S. s S&P 500 is up 1.17% and Brazil s Bovespa is up 0.53%.
What Is Moving the Markets
Here are the headlines moving the markets.
The Worlds First Major Hydrogen Hubs Are In The Making A profuse literature on hydrogen is coming forth from companies, governments, and energy market analysts. All are seeking the most likely paths forward for what is anticipated to be a key energy intermediary in a future carbon-free economy. It is all conceptual for now, as hydrogen production for industrial use remains quite carbon-intensive. It looks to later in the 2020s and 2030s, when hydrogens importance as an energy store and carrier should emerge. Hydrogen may prove indispensable for energy storage in the power sector,