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Ramkrishna Forgings pays Rs 5.57 lakh to settle allegations of non-disclosure of material events
Money Control
·
1y ago
Medial
Ramakrishna Forgings settled allegations of non-disclosure of material events with the Securities and Exchange Board of India (SEBI) by paying Rs 5.57 lakh. The settlement order, issued on March 19, stated that the company violated certain regulations of the Listing Obligations and Disclosure Requirements (LODR) Regulations. SEBI's High Powered Advisory Committee (HPAC) reviewed and approved the settlement terms, recommending that the case be settled with the payment. The company informed SEBI about the remittance of the settlement amount on February 7. On March 20, Ramakrishna Forgings' stock closed at Rs 661.35 on the NSE, up 3.67 percent from the previous close.
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PB Fintech's Yash Dahiya pays Rs 9.4 lakh to settle SEBI’s insider trading case
YourStory
·
5m ago
Medial
The Securities and Exchange Board of India (SEBI) settled an insider trading case with PB Fintech's CEO, Yashish Dahiya, for Rs 9.42 lakh. The case involved non-disclosure of a $2 million investment in UAE-based YKNP Marketing Management as "unpublished price-sensitive information." To avoid a lengthy legal battle, Dahiya opted for a settlement without admitting wrongdoing, resolving the matter officially in March 2025, though SEBI may reopen it if conditions are breached.
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RamKrishna Forgings looks to start forged wheel production from Chennai plant in FY27
Economic Times
·
1m ago
Medial
RamKrishna Forgings plans to enter forged wheel manufacturing with a new plant in Chennai, targeting production of 228,000 wheels annually by 2027. The plant's construction, costing Rs 2,000 crore, will be funded through debt and equity. Incremental production is set for 40,000 wheels in FY27, scaling to 100,000 by FY28, generating significant revenue. The company, collaborating with Indian Railways, also expands into undercarriage systems, projecting Rs 250-300 crore revenue in two years.
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Paytm proposes to cut directors’ remuneration
Entrackr
·
11m ago
Medial
Fintech firm Paytm has proposed to reduce the remuneration paid to its board of directors. The move appears to be a step towards good corporate governance. Lately, the firm drew a penalty for non-payment of stamp duty, and flak from SEBI for certain transactions with its banking unit. The firm’s independent directors will take a haircut in their annual remuneration, according to Paytm’s parent One97 Communication disclosure made to the Bombay Stock Exchange (BSE). The annual remuneration of independent directors at Paytm including Ashit Ranjit Lilani and Gopalasamudram Srinivasaraghavan Sundararajan stood at Rs 1.65 crore and Rs 2.07 crore, respectively. If the proposal gets approval from the board, the annual compensation of each non-executive independent director will be capped at Rs 48 lakh from April 2024, with a fixed portion of Rs 20 lakh, as per the disclosure. The variable component will be linked to attendance at the meetings and overall contribution to various roles. The new remuneration slab is based on the benchmarking done by Paytm and reflects the commitment of board members, said disclosure made to the exchange. Paytm is also seeking re-appointment of Elevation Capital’s founder Ravi Chandra Adusumalli to its board of directors. Adusumalli has been on the board of the company since it was private. His appointment is also subject to shareholder approval.
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OpenAI CEO Sam Altman's salary rose by 3% to ₹64 lakh in 2023
Inshorts
·
8m ago
Medial
OpenAI CEO Sam Altman's salary in 2023 stood at $76,001 (around ₹64 lakh), roughly 3% higher than his previous year's salary of $73,546. Altman's net worth is estimated to be at least $2 billion. OpenAI's non-profit arm ended the year with net assets worth $21 million, as per tax filings made under non-profit disclosure requirements.
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SEBI finds Adani offshore investors in disclosure rules violation
VCCircle
·
1y ago
Medial
India's securities regulator, the Securities and Exchange Board of India (SEBI), has found that several offshore funds invested in Adani group companies have violated disclosure rules and breached investment limits. SEBI has been investigating the matter since August last year and has sent notices to a dozen offshore investors, asking them to explain their positions on the violations. Eight of these funds have expressed their willingness to settle the charges by paying a penalty without admitting guilt. Adani Group has previously denied allegations of acting in concert with these funds.
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FY25 fiscal deficit on track: Touches 100.5% of revised target at Rs 15.77 lakh crore
Business Today
·
2m ago
Medial
The fiscal deficit for FY25 reached Rs 15.77 lakh crore, achieving 100.5% of the revised target. Government expenditure was Rs 46.56 lakh crore, 98.7% of the fiscal year's budget target. Revenues totalled Rs 30.36 lakh crore, with Rs 24.99 lakh crore from taxes and Rs 5.38 lakh crore from non-tax sources. The fiscal deficit target for FY26 is set at 4.4%.
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Aster DM Healthcare quashes merger rumours: Is Blackstone-backed Care Hospitals still in the race? | Mint
Livemint
·
10m ago
Medial
Aster DM Healthcare has denied rumors of a potential merger with Care Hospitals, dismissing speculation that emerged from a news report. In a filing response, Aster DM Healthcare stated that while it explores strategic opportunities for growth, no material events requiring disclosure have occurred. The company assured shareholders that any significant developments will be communicated through the appropriate channels. Aster DM Healthcare's stock price was not affected by the media report. The company remains committed to adhering to regulatory obligations and will disclose any required information accordingly.
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Litigation funding firm LegalPay launches credit line for small business owners to settle legal disputes
Economic Times
·
1y ago
Medial
Legal technology startup LegalPay has launched a zero-interest credit line called Quick Settle, which aims to help enterprises, startups, business owners, and freelancers settle legal disputes without depleting their working capital. The firm plans to disburse around Rs 200 crore in 2024 through its own non-banking finance company (NBFC) and other partner NBFCs. LegalPay has funded over 44,000 commercial cases and is currently managing claims worth over Rs 2,800 crores. They aim to bridge the gap between legal disputes and quick resolutions with this structured financing option.
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Regaal Resources' IPO to open on Aug 12; sets price band at Rs 96-102/ share
Economic Times
·
1d ago
Medial
Regaal Resources Ltd, a maize-based starch manufacturer, announced an IPO with a price band of Rs 96-102 per share, aiming to raise Rs 306 crore. The IPO, open from August 12-14, includes a fresh issue of Rs 210 crore and an offer-for-sale of 94.12 lakh shares worth Rs 96 crore. Proceeds will mainly settle debts. The company's 2025 revenue rose 52.52% to Rs 915.16 crore, with profits more than doubling to Rs 47.67 crore.
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Cognizant says Infy was caught ‘red handed’ stealing TriZetto trade secrets
Livemint
·
5m ago
Medial
Cognizant has accused Infosys of stealing trade secrets from its healthcare software, TriZetto, in an ongoing lawsuit in a Dallas court. Cognizant claims Infosys, accessed sensitive information through non-disclosure agreements but engaged in misconduct by developing a competing product. Infosys denied the allegations and sought to block evidence discovery. Both companies are major competitors in the healthcare services sector. The case highlights tensions between the two IT giants over intellectual property and market competition.
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