Business

5 Officials Reach Settlement with SEBI for Regulatory Violations, Agree to Pay Rs 95.55 Lakh

Published

11 months ago

March 7, 2025

On Thursday, five current and former officials from Add-Shop E-Retail Limited (ASERL) and White Organic Agro Limited (WOAL) reached a settlement with the Securities and Exchange Board of India (SEBI) concerning alleged regulatory violations. The officials collectively paid a settlement amount of ₹95.55 lakh. ASERL specializes in the manufacturing, marketing, and distribution of Ayurvedic products, while WOAL operates within the organic food sector.

The settlement involved Dadhania Vivek Gopalbhai, an audit committee member from ASERL, and Nirajkumar K Malaviya, the company secretary and compliance officer for ASERL. Other participants included Jigna V Thakkar, an audit committee member of WOAL; Dharmesh Bhanushali, the audit committee chairman of WOAL; and Chandresh Regulations, the former audit committee chairman of WOAL. Malaviya contributed ₹40.95 lakh to the settlement, while the remaining four officials each paid ₹13.65 lakh.

The officials sought to resolve the matter without admitting or denying the allegations by submitting an application to SEBI under the regulator’s settlement norms. In an order dated March 6, SEBI acknowledged the settlement and confirmed the closure of proceedings against the individuals.

The case was initiated following complaints received between December 2021 and September 2023, alleging irregularities related to related-party transactions and false announcements regarding supply orders. As a result, the market regulator conducted an investigation covering the period from April 2020 to March 2023 to identify potential violations of the SEBI Act, Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations, and Listing Obligations and Disclosure Requirements (LODR) Regulations.

The investigation disclosed that ASERL and WOAL allegedly misrepresented their financial statements for the fiscal years 2020-21, 2021-22, and 2022-23. Additionally, ASERL was found to have falsified records related to the attendance of independent directors at audit committee and board meetings during that timeframe.

Business

India May Buy More Oil From Venezuela Instead of Russia

Published

1 week ago

January 31, 2026

Namma Kudla

Business : The United States has told India that it can soon resume buying oil from Venezuela.The suggestion is part of a U.S. effort to reduce India’s dependence on Russian crude oil.

This pitch comes as India plans to cut Russian oil imports by several hundred thousand barrels per day in the coming months. Under the Trump administration, the United States had imposed a 25 % tariff on countries that bought Venezuelan oil, including India.

Now, the U.S. wants India to resume Venezuelan oil purchases to help diversify India’s energy sources. The United States is also trying to reshape energy ties with India as part of broader diplomatic engagement.

Venezuela’s interim president Delcy Rodríguez said she agreed with India on energy cooperation in a recent phone call with Prime Minister Narendra Modi. PM Modi said both sides agreed to deepen their partnership and expand cooperation in all areas.

Venezuela has the world’s largest proven oil reserves. Recently, Venezuela opened its oil sector to private investment to attract foreign capital and boost production.

India was one of the major buyers of Russian crude after the Ukraine war began in 2022. But India is now seeking alternative suppliers as part of its energy strategy.

Business

Chicken Prices Remain Stable in Local Markets

Published

2 weeks ago

January 27, 2026

Namma Kudla

Chicken prices remained stable in local markets today.Traders said there was no major change in rates.Consumers continued to make regular purchases.

Boneless chicken is priced at ₹210 per kilogram.Regular chicken is available at ₹160 per kilogram.Chicken liver is being sold at ₹120 per kilogram.

Country chicken is priced higher due to demand.It is selling at ₹360 per kilogram.Live chicken is available at ₹130 per kilogram.

Skinless chicken is priced at ₹200 per kilogram.Vendors said supply is sufficient in the market.They expect prices to remain steady in the coming days.

Customers expressed satisfaction with the current rates.Market officials said there is no shortage of chicken.

Business

Gold Prices Edge Up in India on January 19, 2026

Published

3 weeks ago

January 19, 2026

Namma Kudla

Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.

As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.

The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.

Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.

Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.

Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.

Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.