Mumbai: In a fresh twist to NSEL imbroglio,an investor forum on Tuesday demanded change in the ownership of the bourse. AnandRathi chairman Anand Rathi,who is part of NSEL Investor Forum,said: We want firm assurance from the government or the regulator (FMC) along with NSEL to pay 5 per cent weekly instalment of Rs 5,500 crore. If this commitment is given by tomorrow,we will accept,otherwise we will go to the court. NSEL MD and CEO Anjani Sinha said the platform has been used by industry participants satisfactorily for 3 years,and now holding the promoter exclusively responsible is inappropriate.
Hard to believe Sahara refunded money: SC
New Delhi: The Supreme Court on Tuesday said it is extremely difficult to believe Sahara groups contention that it had refunded Rs 22,000 crore to its investors even before an order was passed directing its firm to deposit Rs 24,000 with Sebi.
Cabinet gives nod to set up TARC
New Delhi: The Cabinet has approved setting up of a Tax Administration Reform Commission (TARC) to remove ambiguity and establish a stable and non-adversarial tax administration.
Ackman quits JC Penney board
New York: JC Penney Co Inc said activist investor Bill Ackman had resigned from the board,three years after embarking on a campaign to turn around the struggling firm and less than a week after demanding the ouster of its chairman and CEO.
Credit Suisse cuts growth forecast
New Delhi: Credit Suisse has lowered Indias growth forecast for this fiscal year to 6 per cent from 6.5 per cent.