Sahara India s Kanpur Region Head, 2 Others Booked by Lalitpur Police for Not Refunding Investors’ Money
Moneylife Digital Team
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The Lalitpur police have registered a case against the branch manager, regional manager, and divisional head of Sahara India for accepting deposits under various term schemes and not refunding about Rs3 crore to investors, says a report.
Amar Ujala, Priyank Kumar Jain from Pali, who worked in Sahara India s branch office for 20 years, took money from investors and turned it into fixed deposits under various schemes offered by Sahara India Credit Cooperative Society, Hamara India Credit Cooperative Society, Saharyan Universal Multipurpose Society Ltd and Sahara Q Shop and Unique Product Range Ltd.Mr Jain told the police he had deposited in these entities about Rs3 crore obtained from investors.
Twitter Blocks 500 Accounts Inside India; Says No Action against Journalists, Activists and Politicians
Moneylife Digital Team/IANS
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Following pressure from the Union government, Twitter on Wednesday says that it has blocked about 500 accounts in India. However, Twitter has not taken any action on accounts that consist of news media entities, journalists, activists, and politicians.
Twitter says it has taken a range of enforcement actions, including permanent suspension in certain cases, against more than 500 accounts escalated across orders from the Indian government for the clear violations of its rules. However, it does not believe that the actions it has been directed to take by the information technology (IT) ministry are consistent with the Indian law, it added.
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InterGlobe Aviation Ltd, the parent company of IndiGo, has paid Rs 2.1 crore to SEBI towards settlement in a case over alleged violations of corporate governance norms.
The Securities and Exchange Board of India (SEBI) had conducted an investigation based on several complaints from Rakesh Gangwal, co-founder and director of Interglobe Aviation.
The complaints alleged several violations regarding compliance of corporate governance norms, related party transactions between the company and the IGE Group , timely intimation of important information to the board of directors of InterGlobe and misrepresentation made by the the company in its Red Herring Prospectus dated October 16, 2015.
The company had last month file an application before the capital market regulator seeking to close the case.
We had mentioned in Monday’s closing report that Nifty, Sensex were still going strong. On Tuesday, the major indices rallied a bit but lost all gains and ended flat.