Author: Legal Parivar

Sanjiv Bhasin, previously associated with IIFL Securities as a consultant, is under investigation by the market regulator for his alleged involvement in market manipulation, according to news report by Moneycontrol. Authorities have reportedly examined Bhasin’s digital devices as part of the investigation, gathering evidence related to the allegations. Requests for comment from Bhasin and the Securities and Exchange Board of India (SEBI) are pending responses. Bhasin’s association with IIFL Securities was on a contractual basis, and his contract was terminated prematurely due to health reasons on June 17, 2024. IIFL Securities clarified that Bhasin was not a member of its…

Jammu and Kashmir police reported on Wednesday that one terrorist was killed in an ongoing encounter with security forces in the forest area of Doda district. The operation was initiated as part of a search and cordon operation following twin terrorist attacks earlier this month in the district. The gunfight broke out in Bajaad village in the Gandoh area around 9:50 am, as state police, along with the Army and Central Reserve Police Force (CRPF), intensified their search and cordon efforts following the attacks on June 11 and 12, 2024. Security forces had been conducting anti-terror operations and had announced…

Zee Media Corporation Ltd witnessed an over eight percent increase in its share price following the announcement that its Board of Directors has approved exploring various fundraising options aimed at raising up to Rs 200 crore. The decision was taken during a board meeting held on June 26. As of 2 PM, Zee Media’s shares were up seven percent at Rs 15.3. The stock has gained more than 90 percent in the past year, marking today as the fourth consecutive day of gains. Zee Media plans to utilize permitted instruments for fundraising, including equity shares, preference shares, and other eligible…

LTIMindtree Vice Chairman SN Subrahmanyan will assume the role of Chairman on June 27, following the resignation of AM Naik from the board, the company announced on June 26. Earlier, It was reported that Naik, also the Chairman Emeritus of Larsen & Toubro, would be stepping down as the non-executive chairman and board member of L&T Technology Services Ltd (LTTS). The company acknowledged Naik’s significant contributions, noting that under his leadership, LTIMindtree transformed into a focused global conglomerate. Naik’s tenure saw the creation of the Larsen & Toubro Employee Trust (LTET), the largest shareholder of the company, and he played…

Silver prices on the MCX plummeted to a six-week low of ₹86,620 per kilogram today, influenced by a strengthening U.S. dollar and rising Treasury yields following hawkish statements from U.S. Federal Reserve officials about potential rate cuts. The prices have been on a sharp downward trend for the past four sessions, resulting in a 5% decline. Currently trading at ₹87,000, silver prices have dropped by 10% from their recent peak of ₹96,493 on May 29. Federal Reserve Governor Michelle Bowman stated on Tuesday that the central bank is not ready to lower rates and is open to raising them if…

On June 26, State Bank of India (SBI), the country’s largest lender, successfully raised Rs 10,000 crore through the issuance of 15-year infrastructure bonds at a coupon rate of 7.36 percent, according to market sources. An infrastructure bond is a financial instrument used to fund the construction of infrastructure facilities. “The bank received 11 bids at a coupon rate of 7.36 percent, totaling Rs 10,471.40 crore. However, the bank accepted only Rs 10,000 crore,” one source reported. Additionally, SBI received bids at varying coupon rates: 10 bids at 7.38 percent, 12 bids at 7.40 percent, and 10 bids at 7.42…

Vodafone Idea is in advanced discussions with Samsung to implement virtualized Radio Access Network (vRAN) solutions for its 4G and 5G deployments, according to a company statement. The two companies have been conducting network trials in Chennai, India, over the past 12-18 months. Following successful trial results, Vodafone Idea has expanded Samsung deployments to the Karnataka and Bihar circles, meeting its 5G Minimum Rollout Obligation (MRO) in these regions using NSA vRAN architecture. Jagbir Singh, Chief Technical Officer of Vodafone Idea Limited, stated, “This vRAN deployment, delivered through Samsung’s innovation and joint technological strategic initiatives, aligns with our technology transformation…

Embattled edtech firm Byju’s has reached a settlement with France-based Teleperformance Business Services, as reported to the National Company Law Tribunal (NCLT) on June 26, marking the second relief for the company in a single day. The insolvency court requested Teleperformance to file a memo indicating its wish to withdraw the insolvency plea due to the settlement, enabling the closure of the case. Earlier in the day, it was reported that Indian law enforcement agencies had cleared the struggling online-education startup of financial fraud, although they found certain lapses in corporate governance. The NCLT had previously urged Byju’s on several…

Canadian Prime Minister Justin Trudeau Liberal Party faced a surprising defeat in the by-elections held in its long-held Toronto-St. Paul constituency on Tuesday, as reported by CBC News. Conservative candidate Don Stewart’s victory is notable because the Liberals have maintained control of this seat for over three decades, even during challenging electoral cycles such as the 2011 federal election, which saw only 34 Liberal MPs elected to Parliament. Prior to this election, a Conservative candidate had not posed a serious challenge in Toronto-St. Paul’s since the 1980s. In a closely contested race, Conservative Don Stewart, a consultant, secured victory with…

Today, during the inaugural session of the 18th Lok Sabha, Prime Minister Narendra Modi will move the motion to elect Om Birla as the Speaker of the House. The election for the Lok Sabha Speaker is set for 11 AM, with Union Defence Minister Rajnath Singh seconding the motion. Om Birla, a three-term MP from Kota, Rajasthan, is contesting against Congress leader Kodikunnil Suresh, nominated by the INDIA bloc. The ruling BJP and opposition Congress have issued three-line whips, requiring their members’ presence during the proceedings. The election process traditionally involves mutual agreement between the ruling party and the opposition.…