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The Allahabad High Court imposed cost of Rs. 50,000 on Lucknow Development Authority (LDA) for trespassing on private property of a party and dispossessing him, without sanction of law. The high court thus directed the LDA to restore the “possession of the shop” to the petitioner “forthwith”. Petitioner owned a shop in Sahara Bazar, Vibhuti…
India insurance industry (Image for representation) India’s insurance regulator has fined PB Fintech‘s online insurance aggregator arm, Policybazaar, 50 million rupees (around $570,000) for regulatory lapses including directorships held by key managerial personnel, the company said on Tuesday. Policybazaar helps users select insurance coverage. The regulator had inspected Policybazaar in June 2020, following which PB…
Securities and Exchange Board of India: In the proceedings initiated by Securities and Exchange Board of India (‘SEBI’) against a Noticee under Section 15-I of the SEBI Act 1992 (‘SEBI Act’) for alleged insider trading in the scrips of Housing Development Finance Corporation Ltd. (‘HDFC Ltd.’) and HDFC Bank Ltd. during their amalgamation/merger announcement period,…
Thank you for reading this post, don’t forget to subscribe! Despite an amicable settlement, the Gujarat High Court imposed Rs 25,000 costs on a man for uploading his wife’s obscene images on social media. The Court cited his serious misconduct as a husband while quashing the FIR. Gujarat High Court Fines Man Rs 25K for…
Capital markets regulator Sebi on Tuesday levied a fine of Rs 10 lakh on an entity for trading in the shares of HDFC Ltd and HDFC Bank while in possession of unpublished price sensitive information (UPSI) related to their merger. Sebi found that Rupesh satish dalal HUF had traded in derivatives of both HDFC entities…
Britain’s Financial Conduct Authority on Friday imposed a fine of 1 million pounds ($1.34 million) on Jean-Noel Albathe former deputy CEO of French asset ma2O, and banned him from the financial services industry following his conduct during an investigation. H2O in 2019 became the subject of market and regulatory concern over its investments in illiquid…
In a series of rulings delivered between July 24 and 25, the Telangana Real Estate Regulatory Authority (RERA) imposed penalties on multiple real estate developers for violations related to villa, flat, and plot sales. The action followed complaints filed by aggrieved consumers against five developers—Suvarnabhoomi Infra Developers Pvt Ltd (Banjara Hills), Maha Infra Developers (Kondapur),…
