Business

SEBI to Take ‘Appropriate Legal Actions’ to Contest ACB Court Order Against Former Chairperson

Published

11 months ago

March 4, 2025

On Sunday, the Securities and Exchange Board of India (SEBI) announced plans to take “appropriate legal steps” to contest the Mumbai ACB Court’s ruling against its former Chairperson, Madhabi Puri Buch.

In its statement, SEBI described the applicant as a “frivolous and habitual litigant,” noting that previous applications from this individual have been dismissed by the court, occasionally with costs imposed.

“A Miscellaneous Application was submitted to the ACB Court in Mumbai against the former SEBI Chairperson, along with three current Whole Time Members of SEBI and two BSE officials,” stated SEBI.

The application requested the police to file a First Information Report (FIR) and investigate alleged irregularities in a company’s listing approval on the Bombay Stock Exchange in 1994, claiming non-compliance with the SEBI Act of 1992, SEBI (ICDR) Regulations of 2018, and SEBI (LODR) Regulations of 2015.

SEBI highlighted that these officials were not in their positions at the time of the events in question and criticized the court for allowing the application without notifying SEBI or giving them a chance to present their side of the story.

The regulator reiterated its commitment to ensuring regulatory compliance and plans to legally contest the court’s decision.

In related news, last month, the Appointments Committee of the Cabinet approved the appointment of Finance Secretary Tuhin Kanta Pandey as the new SEBI Chairman. Buch’s tenure as Chairperson concluded on March 1. She was appointed on March 2, 2022, making history as the first woman to head the market regulator.

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.