IRDAI approves Axis Bank's capital infusion into Max Life
Insurance regulator, IRDAI has approved the capital infusion by Axis Bank into Max Life, subject to the approval of the competition watchdog CCI.
Source: moneylife.in
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SEBI Asks Alexander Stamps and Coin's Director To Disgorge over Rs1.18 Crore Earned from Contra Trade
Market regulator Securities and Exchange Board of India (SEBI) has asked Anirudh Sethi, director and designated person of Alexander Stamps and Coin Ltd (erstwhile Rudraksh Cap Tech Ltd) (ASCL), to disgorge Rs1.18 crore earned by him as profit from contra trades. SEBI asked him to remit the money to the investor protection and education fund (IPEF) administered by the market regulator.
Source: moneylife.in
Nifty, Sensex continue to remain listless - Wednesday Closing Report
On Wednesday, 2245 stocks advanced, 1633 declined and 81 remained unchanged, with an advance decline ratio of 1.37 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets.
Source: moneylife.in
SC Pulls Up SEBI for Lethargy Shown in Investigating Listing Norm Violations of Alps Motor Finance
Criticising market regulator Securities and Exchange Board of India (SEBI) for its sluggish approach in handling a case, the Supreme Court rapped SEBI for taking 10 years to conclude an investigation into a case involving alleged violation of listing norms and unfair trade practice. Last year also, the apex court had pulled up SEBI for issuing a show-cause notice (SCN) after a 10-year probe in the Alps Motor Finance Ltd (AMFL) case.
Source: moneylife.in
HDFC Bank Group Allowed to Buy Upto 9.50% Stake in 6 Banks, Including Axis Bank, ICICI Bank and Yes Bank
Reserve Bank of India (RBI) has approved an application filed by HDFC Bank Ltd as promoter and sponsor of HDFC Bank group to acquire aggregate holding of up to 9.50% of the share capital or voting rights in six banks. It includes Axis Bank Ltd, Suryoday Small Finance Bank Ltd, ICICI Bank Ltd, Bandhan Bank Ltd, Yes Bank Ltd and IndusInd Bank Ltd.
Source: moneylife.in