New Delhi

Brokers barred from taking cash from clients

Sebi on Thursday barred stock brokers from directly accepting cash from their clients as it looks to promote digital payments. Besides, stock brokers are not permitted to receive cash deposits in their bank accounts from clients.

NCLAT rejects Liberty House plea to stay resolution process of Bhushan Power

The National Company Law Appellate Tribunal on Thursday turned down the plea of UK-based Liberty House to stay the resolution process of Bhushan Power and Steel.

A two-member bench of the appellate tribunal, headed by chairman Justice S J Mukhopadhaya, directed the committee of creditors to go ahead with the resolution process. At present, the lenders of Bhushan Power and Steel are in the process of finalising the bids.

Superman LG does nothing about Delhi’s mountains of garbage: SC

The Supreme Court on Thursday castigated the Delhi Lieutenant Governor over for his attitude of being “a superman” but doing nothing to get the “mountains of garbage” of the city cleared, with one of the dumping sites even reaching a height close to that of the Qutub Minar.

Ex-CMD of NFL, two Turks sentenced in Rs 133 cr urea scam

A Delhi CBI court on Thursday sentenced the former National Fertilizer (NFL) chairman and managing director, two Turkish nationals and five others to rigorous imprisonment of three to six years, besides slapping fines ranging from Rs 6 lakh to Rs 100 crore in the urea scam case.

Factory growth slips to 7-mth low; retail inflation at 5%

Industrial production slipped to a seven-month low of 3.2 per cent in May due to sluggish performance of manufacturing and power sectors, while retail inflation continued to remain firm in June on costlier fuel, according to two sets of official data released on Thursday.

The Monetary Policy Committee (MPC), headed by RBI governor Urjit Patel, which would meet later this month to decide on the next bi-monthly interest rate review, would factor these key macro-economic data.

Government to forego nearly Rs 6,000 crore locked in tax disputes

The Centre has decided to raise the threshold limits for filing tax appeals in tribunals and courts. As a consequence of this, the Centre will have to forego nearly Rs 6,000 crore that is locked in disputes. The decision is expected to effectively reduce minor litigations and help the Department of Revenue to focus on high value litigations, finance minister Piyush Goyal said.

Tax disputes worth Rs 7.6 lakh crore were stuck in various stages of litigation in tribunals, high courts and the Supreme Court as of March 2017, Goyal said.

Calcutta HC restricts DRI’s seizure powers

In a landmark judgment that may have implications on the functioning of enforcement officials, the Calcutta High Court has said the directorate of revenue intelligence (DRI) is not empowered to carry confiscation of goods unless “identified officers” are specifically empowered to do so through a prior order.

Rupee to stay in 68-72 range near-term: UBS

The rupee is expected to move in the range of 68-72 against the dollar in the next two-four months, and the depreciation bias in the domestic currency is likely continue, says a UBS report.

East Bengal ropes in Costa Rican World Cupper

East Bengal, the traditional powerhouse of Indian football and an I-League club, has done what cash-rich Indian Super League clubs could not do so far. The Bengal outfit on Wednesday signed a current World Cupper to play for its team in the upcoming I-League -- a first in the history of Indian football.