Moneylife

While rejecting Bima Nagar Cooperative Housing Society Ltd's (the Society) interpretation that a family arrangement under section 154B-13 of the Maharashtra Cooperative Housing Societies Act (MCHS Act) applies only to Hindu undivided families (HUF), the Bombay High Court (HC) directed the Society to allow full membership to the widow of a deceased member. The HC upheld the family arrangement where the two children of the deceased member had relinquished their rights in favour of the mother.

Yet another con was successfully executed by fraudsters in the name of quick and bumper returns through investment in the jewellery business. This is the story of the Torres, a scam that rocked Mumbai this week and was run through a firm called Platinum Hern Pvt Ltd. Torres offered 6% to 11% interest weekly, which is an annual return of 312% to 572%. Investors not only did not question this, but they also lapped up the offer of 20% of the investment by a new investor introduced by them as an upline commission. This is nothing but a classic multi-level marketing scam (MLM) and a Ponzi. The key conspirators have vanished into thin air, leaving a few low-level employees to face prosecution and the heat of several lakh angry 'investors' looking at a loss of over Rs1,000 crore.

The Supreme Court on Friday stayed Goods and Services Tax (GST) proceedings against 49 online gaming companies over retrospective demand notices issued to them on full face value of bets placed through their portals. (Gameskraft v. GST)

TCS Cheers the Market In the middle of dreary news of economic slowdown, the market seemed to cheer even the rather uninspired December quarter results of Tata Consultancy Services (TCS). In...

Indian equity markets closed lower on last week, with Nifty down by 573 points of 2.39% and Sensex down by 2.33%. But the real damage was done to mid- small- and micro-caps stocks. Indices representing all these segments fell by 6% during the week one of the largest declines in two years. Market sentiment was dampened by multiple factors, including a slow realisation that economic growth is slowing down and leaving high valuations at the risk of derating. In response to the rise in respiratory illness cases, especially those associated with Human Metapneumovirus (HMPV), state governments have stepped up monitoring. The recent outbreaks of HMPV in China have heightened concerns about a possible health crisis. In India, at least eight cases of HMPV have been confirmed.

Guidelines 1. The Grader captures the three factors that determine investments: valuation, returns and price strength. Our grader captures these three...

Indian equity markets closed lower past week, with the NIFTY down by 573 points or 2.39% and the Sensex down by 2.33%. But the real damage was done to mid-, small- and micro-cap stocks. Indices...

From 3rd January to 9 January 2025, the NIFTY and the Sensex fell 2% each. ML Mega-cap Index and ML Mid-cap Index fell 3% each. ML Large-cap Index and ML Small-cap Index fell...

Laxmi Dental Ltd claims to be India's only end-to-end integrated dental products company. Its offerings include custom-made crowns and bridges, branded dental products such as clear aligners,...