Author: Legal Parivar

Several companies, including IIFL Securities Ltd and SBI Life Insurance Company Ltd, are set to trade ex-dividend starting from Monday, March 11. Additionally, some companies will trade ex-bonus and ex-split during the week. The ex-dividend date marks the adjustment of the share price to reflect the next dividend payout, signaling that the stock will no longer carry the value of its upcoming dividend payment. Dividends are payable to shareholders listed on the company’s record date. Here are the stocks declaring dividends in the upcoming week: Additionally, the following stocks will undergo corporate actions: Furthermore, Gujarat Ambuja Exports Ltd declared a…

Union IT and Communications Minister Ashwini Vaishnaw assured in an interview that the government is fully supportive of Vodafone Idea’s efforts to raise funds, including through equity and debt, with contributions from its promoters. Vaishnaw emphasized that the government has been proactive in assisting the struggling telecom company thus far. “We are committed to supporting any fundraising initiatives that Vodafone Idea wishes to pursue. As a listed entity, I refrain from speculating on its future. What’s important is that the government has made every effort to extend support,” stated Vaishnaw. Recent reports revealed that Vi has secured commitments from anchor…

The Tata Sons IPO buzz led to a surge of up to 36 percent in several group stocks this week. Among the top performers in the BSE500 pack were four companies affiliated with the conglomerate, spanning from salt to software. However, recent reports suggest that the conglomerate’s planned listing may not materialize in the near future due to challenges in adhering to the Reserve Bank of India’s (RBI) regulations. Tata Sons, the parent company of various Tata group firms, is currently registered as a Core Investment Company (CIC) with the RBI and falls under the category of an ‘upper layer’…

Supreme Court Calls for Police Education on Freedom of Speech Amid WhatsApp Status CaseIn a significant ruling on Thursday (March 7), the Supreme Court made a crucial observation regarding the necessity to educate law enforcement about the fundamental right to freedom of speech and expression guaranteed by the Constitution. The bench, comprising Justices Abhay S Oka and Ujjal Bhuyan, stressed the importance of enlightening the police force about democratic values enshrined in the Constitution, emphasizing the need for reasonable restraint on such freedoms. This observation comes as part of a broader verdict in a case involving Professor Javed Ahmed Hajam,…

IMD Forecasts Rainfall and Snowfall in Western Himalayan Region from 11th to 14th MarchThe India Meteorological Department (IMD) has predicted light to moderate scattered to fairly widespread rainfall or snowfall in the Western Himalayan Region from the 11th to the 14th of March. Additionally, isolated to scattered rainfall is expected over adjoining plains from the 12th to the 14th of March. Meanwhile, hot and humid weather conditions are forecasted to prevail over Rayalaseema, Tamil Nadu, Puducherry, Karaikal, and Kerala for the next two days. Snowfall Alert in Himachal PradeshIn Himachal Pradesh, more than 360 roads, including three National Highways, remain…

The BJP administrations in Chhattisgarh and Madhya Pradesh have declared the Bollywood movie “Article 370” as tax-free within their respective states. According to PTI, Chhattisgarh Chief Minister Vishnu Deo Sai made this announcement after viewing the film, which centers on the revocation of Article 370 of the Indian Constitution granting special status to Jammu and Kashmir, at a mall in the evening. A day earlier, the BJP government in neighboring Madhya Pradesh had also granted the film tax-free status. Accompanied by his wife Kaushalya Devi Sai and cabinet colleagues Ramvichar Netam and Kedar Kashyap, Sai issued a statement through the…

The Election Commission of India (ECI) refutes circulating WhatsApp rumors regarding the Lok Sabha elections schedule. ECI emphasizes that no official dates have been announced yet and assures that any information regarding election dates will be communicated through a press conference. This clarification aims to combat misinformation spread on social media platforms like WhatsApp. Congress Unveils First List of Candidates for Lok Sabha Polls 2024Congress announces its initial list of candidates for 39 Lok Sabha constituencies, covering states including Chhattisgarh, Karnataka, Kerala, Lakshwadeep, Meghalaya, Nagaland, Sikkim, Telangana, and Tripura. The list comprises 16 candidates from Kerala, seven from Karnataka, six…

Rakesh Gangwal, co-founder of IndiGo, is reportedly contemplating selling up to 5.8 percent of his stake in Interglobe Aviation, the parent company of the airline. This percentage is higher than his previous plan to sell 3.3 percent, as per CNBC-TV18’s report on March 8, citing sources. The proposed sale aims to raise nearly Rs 6,600 crore, with a floor price set at Rs 2,925 per share, according to the report. However, LegalParivar has not independently verified this information. On March 7, sources reported, based on insiders’ information, that Gangwal was considering selling a 3.3 percent stake in Interglobe Aviation. Gangwal…

Coal India Ltd achieved a historic production milestone of 703.91 million tonnes (MT) during the current fiscal year until March 7, surpassing the previous fiscal year’s output of 703.20 MT, as announced by the Coal Ministry on Friday. The ministry highlighted the implementation of various key measures aimed at enhancing production, resulting in Coal India maintaining a substantial stock of 72.70 MT as of March 7, 2024. According to a ministry release, Coal India Limited (CIL) surpassed last year’s production by an impressive margin of 26 days, achieving the record production figure of 703.91 million tonnes of coal up to…

On March 8, the Enforcement Directorate (ED) announced the arrest of Girish Talreja and Suraj Chokhani in relation to the Mahadev Online Book betting case (MOB). The MOB betting app has been identified as a syndicate facilitating illegal betting websites and money laundering through a complex network of benami bank accounts. Suraj Chokhani is reportedly a close associate of Hari Shankar Tibrewala, a hawala operator based in Dubai, who is believed to be a partner of the MOB promoters. Recently, the ED froze shares worth Rs 581 crore held by Tibrewala’s associates. According to the ED, Tibrewala utilized various companies,…