The US Bankruptcy Court for the District of Delaware has issued an order holding Byju’s founder, Byju Raveendran, in civil contempt for failing to comply with earlier court orders related to limited expedited discovery. “This court has personal jurisdiction over Raveendran,” it said in an order on Monday. ET has seen a copy of the […]
Savings a/c slowdown: PSBs may scrap min balance finesMUMBAI: Public sector banks are reconsidering the need for customers to maintain minimum balances in savings accounts, following discussions with the finance ministry over the declining share of current and savings accounts in total deposits.Canara Bank, Bank of Baroda, Punjab National Bank and Indian Bank have recently […]
The Telangana Real Estate Regulatory Authority (TGRERA) has imposed a penalty of ₹14.9 lakh on the developer of the ‘Aura Velimala Phase 1’ project in Velimala, Sangareddy district, according to the order. ₹14.9 lakh on the developers of the ‘Aura Velimala Phase 1’ project in Velimala, Sangareddy district (Picture for representational purposes only)(Pixabay)” title=”The Telangana […]
IndiGo is facing penalties exceeding Rs 2.76 crore from customs authorities in Ahmedabad and Chennai, but the airline has confirmed it will challenge the demands. In regulatory disclosures on Tuesday, IndiGo said it received penalty orders of Rs 2.20 crore from the Principal Commissioner of Customs in Ahmedabad and Rs 56.2 lakh from the customs […]
NEW DELHI: The Securities and Exchange Board of India (SEBI) on Monday imposed a Rs 25 lakh penalty on the Multi Commodity Exchange of India (MCX) for failing to adequately disclose substantial payments made to 63 Moons Technologies (formerly known as Financial Technologies India Ltd).The penalty, which must be paid within 45 days, stems from […]
NEW DELHI: Flagging concerns over the misuse of a Central Goods and Services Tax Act provision, Delhi high court has fined a private firm for fraudulently claiming input tax credit (ITC) to escape paying full GST. “This court takes note, with some consternation, that such large-scale fraudulent availment of ITC may, if left unchecked, lead […]
NEW DELHI: The Reserve Bank of India (RBI) on Friday fined State Bank of India and Jana Small Finance Bank for failing to follow certain regulatory non-compliances.According to the RBI, it has levied a fine of Rs 1,72,80,000 on SBI for failing to adhere to guidelines concerning “Loans and Advances-Statutory and Other Restrictions”, “Customer Protection […]
Mobile app-based cab aggregators must follow fare structures approved by regional transport bodies. | Photo Credit: SHIV KUMAR PUSHPAKAR The Maharashtra Cabinet has approved a policy to regulate mobile app-based cab aggregators. The new aggregator policy caps surge pricing at 1.5 times the base fare and imposes penalties on both drivers and riders for cancelling […]
The Telangana Real Estate Regulatory Authority (TG RERA) has imposed a penalty of ₹4.2 lakh on a developer for flouting key Real Estate (Regulation and Development) Act 2016 provisions. ₹4.2 lakh on a developer for flouting key Real Estate (Regulation and Development) Act 2016 provisions. (Picture for representational purposes only)(Pixabay)” title=”The Telangana Real Estate Regulatory […]
The European Union (EU) fined big tech firms, Apple and Meta, for 500 million euros and 200 million euros respectively on Wednesday, according to the Associated Press. The decision came as a result of the enforcement of the EU’s digital competition rules- the Digital Market Act (DMA).Apple has been fined for preventing application makers from […]
