Page 24 - Master Circular News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The RBI on Wednesday said it has imposed a Rs 55 lakh penalty on Pune-based Seva Vikas Cooperative Bank Limited for non-compliance with certain directions, including for not ensuring end-use of funds lent. The penalty, it said, has been imposed for non-compliance with certain directions in the 'Master Circular - Management of Advances -UCBs' and 'Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs'. "The penalty has been imposed on the bank...(i) for not ensuring end-use of funds lent (ii) non-adherence to IRAC norms and (iii) restructu...

HC stays bank account as fraud Updated: Updated: ‘CBI, ED can carry on with their probe’ Share Article ‘CBI, ED can carry on with their probe’ The Telangana High Court on Friday passed an interim direction staying declaration of M/s Coastal Projects Limited’s bank account as fraud by the Reserve Bank of India and other banks. A bench of Chief Justice Hima Kohli and Justice B. Vijaysen Reddy passed this order after hearing a writ petition filed by Sabbineni Surendra of the company. While the company’s bank account declaration as fraud was stayed, the bench made it clear that the Ce...

SEBI compiles scheme of arrangements regulations into master circular The regulator noted that in case of any inconsistency between the Master Circular and the applicable circulars, the content of the relevant circular shall take precedence BusinessToday.In | December 22, 2020 | Updated 21:38 IST Market regulator Securities and Exchange Board of India (SEBI) has issued a master circular for listed companies, which includes the detailed requirements to be complied by such entities while undertaking schemes of arrangements. The watchdog has compiled seven different circulars on the topic in th...

HC sets aside JLF call over fraud account Updated: Updated: Share Article The Telangana High Court in Hyderabad.   | Photo Credit: Nagara Gopal The Telangana High Court had set aside a decision of the Joint Lenders Forum (JLF), a group of banks, declaring the bank account of a company called M/s B.S. Limited as fraud. Pronouncing its verdict in a writ petition filed by the company’s former chairman Rajesh Agarwal, a division bench of Chief Justice Raghvendra Singh Chauhan and Justice B. Vijaysen Reddy had also set aside the resolution of Fraud Identification Committee identifying the com...