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The apex court said the vesting of securities in favour of the nominee was for the limited purpose of ensuring there is no confusion pertaining to the legal formalities to be undertaken upon the death of the holder.
Moneycontrol has learnt that in the runup to the Union Budget, the group will shortlist provisions in various Acts in which imprisonment can be done away and replaced with a penalty. The Income Tax Act, Central Excise Act and Central Goods and Services Tax Act are also being looked at
The depository services company reported a consolidated profit of Rs 109 crore for the quarter ended September. Its profit was higher by 35.4% YoY from Rs 80 crore reported in the corresponding quarter in the previous year, backed by a healthy topline and EBITDA
India's Ministry of Corporate Affairs (MCA) has mandated that large unlisted private companies, including unicorns, issue securities only in dematerialized form, giving them until the end of September 2024 to comply with the rule. The move is expected to enhance transparency in the financial market and encourage companies to disclose their share structures more openly.
