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PNB shares plunge by 7% after reporting Rs 3,688.58 crores DHFL loans as fraud
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PNB shares plunge by 7% after reporting Rs 3,688.58 crores DHFL loans as fraud Like

Team SoOLEGAL   |   11 Jul 2020 1:54am

The share price of Punjab National Bank slumped nearly 7 percent on Friday ( July 10, 2020) after the bank reported a fraud of Rs 3,688.58 crore in the non-performing asset account of Dewan Housing Finance (DHFL) to the RBI. The stock plunged…

Yes Bank fraud: ED attaches Rs 2,800 crore assets of Rana Kapoor, Wadhawan brothers
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Yes Bank fraud: ED attaches Rs 2,800 crore assets of Rana Kapoor, Wadhawan brothers Like

Team SoOLEGAL   |   11 Jul 2020 12:20am

The Enforcement Directorate on July 9, 2020, provisionally attached assets and properties valued at over Rs 2,800 crore in India and abroad belonging to YES Bank Co-Founder Rana Kapoor and the Wadhawans, promoters of Dewan Housing Finance (DHFL), in connection with the YES Bank money laundering case.The central…

Suspension of a public-school teacher who was allegedly removed for demanding payment of salaries stayed by Delhi HC
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Suspension of a public-school teacher who was allegedly removed for demanding payment of salaries stayed by Delhi HC Like

Team SoOLEGAL   |   10 Jul 2020 10:28pm

The suspension of a public-school teacher who was suspended from the position of TGT English allegedly for demanding salaries to teachers and other staff was stayed by the Delhi High Court.A Single Bench of Justice Jyoti Singh also issued notices…

DHFL Loan of Rs. 3,688 crores in PNB Account declared ‘Fraud’
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DHFL Loan of Rs. 3,688 crores in PNB Account declared ‘Fraud’ Like

Team SoOLEGAL   |   10 Jul 2020 10:03pm

On Thursday, 9th July 2020, State-Owned Punjab National Bank reported a fraud of Rs. 3,688.58 crores in the NPA account of Deewan Housing Finance Ltd (DHFL) to the Reserve Bank of India. The DHFL came in the eye of the storm…

The Ministry of Labour and Employment drafts Code of wages, 2019, Likely to implement it by September this year
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The Ministry of Labour and Employment drafts Code of wages, 2019, Likely to implement it by September this year Like

Team SoOLEGAL   |   10 Jul 2020 9:52pm

The Ministry of Labour and Employment has put in place The Code of Wages, 2019, the first law under labor reforms which is likely to be implemented by September this year. The Parliament approved the code in August last year…

Zoom, Inc. Announces to Make ‘Significant Investment’ In India in the Next Five Years; Clarifies that it is not Chinese
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Zoom, Inc. Announces to Make ‘Significant Investment’ In India in the Next Five Years; Clarifies that it is not Chinese Like

Team SoOLEGAL   |   10 Jul 2020 9:33pm

After some sections in India started targeting Zoom over its connections with China and alleged data breach policies, the company has clarified its position on the issue and statedthat it is based in the United States and has offices in…

PF Contributions Extended till August 2020; Cabinet Approves
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PF Contributions Extended till August 2020; Cabinet Approves Like

Team SoOLEGAL   |   10 Jul 2020 8:39pm

On Wednesday, 8th July 2020, the Union Cabinet approved a proposal for extension of the scheme for the payment of employees and employers’ PF contributions for three months until August 2020. Union Finance Minister Nirmala Sitharaman had announced the extension…

Registration of Stock Trader Cancelled by SEBI due to Fraudulent Trading
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Registration of Stock Trader Cancelled by SEBI due to Fraudulent Trading Like

Team SoOLEGAL   |   10 Jul 2020 8:31pm

SEBI, on Wednesday, 8th July 2020, terminated the registration of a stockbroker for involvement in fraudulent trading activities in the scrip of Maharashtra Polybutenes Ltd. Capital Market Regulator Securities and Exchange Board of India (SEBI), in the order released, said…

Instagram introduces short video format feature ‘Reels’ in India
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Instagram introduces short video format feature ‘Reels’ in India Like

Team SoOLEGAL   |   10 Jul 2020 8:21pm

Instagram on July 8 said it will start testing a new format ‘Reels' in India that will allow users to create and share short videos.This move by the Facebook-owned company comes within weeks of the Indian government banning 59 mobile apps…

Indian Army asks its personnel to delete 89 apps including Facebook, Truecaller, and Instagram
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Indian Army asks its personnel to delete 89 apps including Facebook, Truecaller, and Instagram Like

Team SoOLEGAL   |   10 Jul 2020 8:04pm

The Indian Army has asked all its personnel and soldiers to remove 89 apps by July 15 owing to the national security risks.The list not only has Chinese apps that have already been banned by the government but also carries US-based platforms. The 89 apps…

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