Page 2 - Fine

Air India ordered to pay Rs 2 lakh to passengers for multiple flight delays

The NCDRC said in its order that in the event of flight cancellations or major delays, passengers are entitled to necessary services

Delhi HC imposes Rs 2 lakh fine on Ashneer Grover for violating court order

Ashneer Grover tendered an unconditional apology. Though the court accepted the apology, however, it said that it is subject to him paying the costs to Delhi High Court Clerk Association

DGCA sends show cause notice to Air India for flouting civil aviation norms

Notably, this is not the first time the airline has been called out for non-compliance of CAR rules

Sebi imposes Rs 35 lakh fine on MI Research for flouting regulatory norms

Capital markets regulator Sebi has imposed a fine of Rs 35 lakh on MI Research for violating regulatory norms. MI Research (Proprietor -- Ashish Jain) is a Sebi-registered Investment Adviser. The order came after Sebi conducted an examination into the business of MI Research with respect to compliance of the entity with IA (Investment Advisers) regulations. The period of examination was November 2017 to August 2019. In its order on Monday, Sebi found that MI Research had collected up to Rs 1.95 crore from 748 clients by charging them for services provided as an investment adviser. The quantum of fees charged for its services appears to be unreasonably high. However, the noticee (MI Research) had failed to comply with the basic requirements of IA rules and also promised assured returns and mis-sold his services to clients and thus, failed to act honestly and in good faith with due skill, care and diligence, and adhered to a high professional standard, appropriate standards of condu

NFRA slaps Rs 1.10 cr fine on 3 entities in Coffee Day Enterprises matter

The National Financial Reporting Authority has imposed fines totalling Rs 1.10 crore on three entities, including two individual auditors, in connection with lapses in auditing of Tanglin Developments Ltd (TDL), a subsidiary of Coffee Day Enterprises Ltd. Besides, the auditing firm -- Sundaresha & Associates -- and the two auditors -- C Ramesh and Chaitanya G Deshpande -- have been barred from taking up auditing work for varying periods. The case pertains to the diversion of funds worth Rs 3,535 crore from seven subsidiary companies of Coffee Day Enterprises Ltd (CDEL), a listed company, to Mysore Amalgamated Coffee Estate Ltd (MACEL). NFRA has found lapses in auditing of the books of TDL for 2019-20. The regulator said it has taken a stern action against the three entities for professional misconduct and failure to report irregularities in the company's books in 2019-20, despite having access to the details of an investigation that was ordered following the death of the company's

Sebi slaps Rs 35 lakh penalties on 7 entities for non-genuine trades

Capital market regulator Sebi has slapped penalties totalling Rs 35 lakh on seven entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. In seven separate orders on Thursday, the regulator imposed a fine of Rs 5 lakh each on Dilip Kumar Kedia-HUF, Appu Marketing and Manufacturing (now known as Ejecta Marketing Ltd), Meena Agarwal, City Gold Media Ltd, Competent Finlease, Sanjiv Kumar Agarwal and Shah Dhaval Surendrabhai-HUF. The orders came after Sebi had observed large-scale reversal trades in the illiquid stock options segment on BSE, leading to artificial volumes on the exchange. Thereafter, it conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. The seven entities that have been fined on Thursday were among those who indulged in the execution of reversal trades. Reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of .

Sebi imposes fine of Rs 15 lakh on 3 individuals for non-genuine trades

Capital markets regulator Sebi on Tuesday imposed penalties totalling Rs 15 lakh on three individuals for indulging in non-genuine trades in the illiquid stock options segment on BSE. In three separate orders, the watchdog slapped a fine of Rs 5 lakh each on Radha Devi Goenka, Radhey Shyam Manchanda and Sanchit Arora. Sebi had observed large scale reversal of trades in the illiquid stock options segment of BSE, leading to creation of artificial volumes on the bourse. It had conducted an investigation into the trading activities of certain entities engaged in the segment on BSE from April 2014 to September 2015. According to Sebi, the three individuals were among those who indulged in the execution of reversal trades. The reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of generating artificial volumes, Sebi said. The individuals had violated the provisi

Google slapped with $32 mn fine for unfair practices in Korean app market

The punishment came as Google made shady agreements with South Korean mobile game companies between June 2016 and April 2018, banning them from releasing their content on One Store

Reviewing SC decision, will cooperate with CCI on way forward: Google

The Supreme Court on Thursday declined to entertain a plea by Google challenging a NCLAT order, which refused to stay operation of the CCI order imposing Rs 1337.76 crore fine

Western Railways collect Rs 135.58 cr as fines from April to Dec 2022

Western Railways informed on Thursday that they collected an amount of Rs. 135.58 crores as fines during several ticket-checking drives from April to December 2022."The highly motivated ticket-checking team under the supervision of senior commercial officers of Western Railway organized several ticket-checking drives during the period from April to December 2022, thereby recovering an amount to the tune of Rs. 135.58 crores," WR informed in a press release."In order to ensure hassle-free, comfortable travel & better services to all passengers over Western Railway, intensive ticket checking drives which were being carried out continuously over Mumbai suburban local services, Mail/Express as well as passenger trains and holiday special trains so as to curb the menace of ticketless/irregular passengers," it said.Western Railway also urged to the general public to travel with 'proper and valid tickets'.According to the press release issued by Sumit Thakur, chief public relations ...

Tesla fined $2.2 mn in S Korea for alleged violations of advertising law

Tesla falsely promoted and exaggerated the driving range and charging speed of its electric cars as well as the estimated savings on fuel costs by using its vehicles

Sebi imposes Rs 75 lakh fine on ICCL, NCL in Karvy Stock Broking case

Capital markets regulator Sebi on Wednesday levied a fine totalling Rs 75 lakh on Indian Clearing Corp Ltd (ICCL) and NSE Clearing Corp Ltd (NCL) for violating norms in the matter of Karvy Stock Broking Ltd (KSBL). In two separate orders, the regulator slapped a fine of Rs 50 lakh on ICCL and Rs 25 lakh on NSE Clearing Corporation. The order came after market watchdog initiated adjudication proceedings against ICCL and NSE Clearing Corp for alleged violation of provisions of Sebi's early warning mechanism (EWM) circular issued on December, 2018. Under the EWM circular, alerts triggered at one stock exchange / clearing corporation/ depository through early warning mechanism shall be immediately shared with other stock exchanges / depositories with respect to the stock broker / depository participant. It was observed that National Securities Depository Limited (NSDL) sent various alerts pertaining to KSBL to ICCL and NCL during February-November 2019. ICCL and NCL were required to .

LTA fined $1 million by ATP over ban of Russian players from summer events

The Lawn Tennis Association was fined $1 million by the ATP men's professional tour on Wednesday for banning players from Russia and Belarus from its grass-court events this summer. The governing body of British tennis banned the players from five Wimbledon warm-up tournaments following Russia's invasion of Ukraine. The ATP, which oversees men's tennis outside of the Grand Slams, also warned the LTA it could lose its membership in the organization if it repeats the ban. We stand by our original position on this matter, that unilateral decision-making by members of the ATP Tour threatens our ability to operate as a global sport," the ATP said in a statement. "We believe that the measures taken protect the long-term future of our game and its commitment to merit-based participation, without discrimination, for individual athletes. We have no further comment. The LTA said it deeply disappointed with the tour's action. The ATP, in its finding, has shown no recognition of the exceptio

Fine of nearly Rs 34 lakh imposed on NCFSC group of institution: Officials

A hefty penalty of nearly Rs 34.05 lakh has been imposed NCFSC group of institution by the state's educational commission for violating the regulations of a teacher education programme, officials said. Seventeen institutions have admitted students in two years Diploma in Nursery Teacher Training (DNTT) and one-year Nursery Teacher Training (NTT) courses after getting affiliation from NCFSC in violation of Regulations on National Council of Teacher Education (NCTE), the officials said. Declaring the admissions as invalid, the double bench of the Himachal Pradesh Private Educational Institutions Regulatory Commission (HPPEIRC), comprising Chairman and member, Major General (Retd) Atul Kaushik and Sashi Kant Sharma directed the erring 17institutions to refund the fee with nine per cent interest. The HPPEIRC imposed a penalty of Rs 34,05,480 on the NCFSC group of institutions, kaushik said. The fee charged for DNTT and NTT course was Rs 38,940 and Rs 24,780 and the total fee recovered

Late payment rule doesn't apply to pvt unaided institutions in Delhi: HC

The Delhi High Court has said provisions of the Delhi School Education Rules which state a school cannot charge fine in excess of five paise a day for late payment of fees, does not apply to private unaided schools here. The order was passed by a bench of justices Vibhu Bakhru and Amit Mahajan on a petition by the Action Committee Unaided Recognised Private School, an umbrella association of more than 500 private unaided schools in Delhi. The petitioner had assailed a February 2013 order of the Directorate of Education (DoE) holding that in terms of rule 166 under Chapter XIII of of the Rules, a private unaided school here cannot charge any fine in excess of five paise per day on account of late payment of fees by a student. The petitioner, represented by advocate Kamal Gupta, also sought a direction that the rules contained in Part B, which contained rules 166, of Chapter XIII of the Rules do not apply to private unaided recognised schools. Setting aside the DoE order, the court s

Karnataka HC orders KSTDC to pay fine of Rs 2 lakh to contractor for delay

The High Court of Karnataka has ordered the Karnataka State Tourism Development Corporation (KSTDC) to pay the pending bill of Rs.34,85,179 with an interest of 12 per cent to a Class I Contractor and also a fine of Rs.2,00,000 for delay in clearing the bills. The contractor had completed the building in 2014 and was paid Rs.1,46,56,901 during the course of construction. But the last bill of Rs.34,85,179 was still not paid till he approached the HC in 2018. The HC judgement came on September 3, 2022. "This is a fit case for levy of exemplary costs for the ill-treatment meted out to the scrupulous citizen who had done the work for the State entities. A message should loudly go to the quarters that be, that the courts would not tolerate indolence on the part of the public bodies when interest of the citizen is put to peril," the HC said. The HC said, the KSTDC should be made to pay a cost. This court is of the considered opinion that the second respondent-Corporation should be saddled

MCA mulls imposing fines on unicorns over delay in filing financials

Swiggy had delayed its FY21 result filing by 11 months and Ola Electric was at least 13 months late in filing the financials with the RoC

Sebi imposes Rs 3 lakh fine on CB Management Services for non-compliance

Markets regulator Sebi has imposed a penalty of Rs 3 lakh on CB Management Services for delaying the process of issuance of duplicate shares and failing to process transmissions of stocks within the time limit. Also, it had not maintained signature records of shareholders in certain companies. CB Management Services, Registrar to an Issue and Share Transfer Agent, has been asked to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in an order on Tuesday. The capital markets regulator conducted an inspection of CB Management Services' activities as a Registrar to an Issue and Share Transfer Agent from April 2017 to March 2019. In its order, Sebi's Adjudicating Officer N Hariharan found, "the noticee (CB Management Services) has not maintained signature records of the shareholders, more than 150 instances of violations of timelines for instances of duplicate shares and nine instances of delay in the processing of transmission of shares". By doing so

NGT slaps fine on Ansal Properties & Infrastructure for green violations

The National Green Tribunal (NGT) has imposed a cost of Rs 153.50 crore on Ansal Properties & Infrastructure Ltd (APIL) for various environmental violations by its project at Sushant Lok Phase-I, Gurgaon.

Warning for plastic ban violation till Jul 10; action include jail: Rai

The government will give top priority to creating awareness against the use of SUP items and providing their alternatives to people, Environment Minister Gopal Rai said.