Harshad Mehta remanded
to police custody
Mumbai:
Harshad Mehta and his two brothers Sudhir and Ashwin were remanded
to police custody till December 7 by a special court here, in a
case of alleged misappropriation of about Rs 250 crore from Rs 27
lakh missing shares of 90 blue-chip companies.
The court turned down the plea of the accused for keeping
electronic diary during consultations with their lawyers. However,
paper pads and ink pens were permitted.
The accused were arrested on November 9.
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TRAI
seeks suggestions on Internet telephony
New
Delhi: Telecom Regulatory Authority of India on Friday sought
industry and consumer views on various issues like cost and level
of competition in the field of Internet telephony.
"Normally Internet telephony is considered to be less costly
than the conventional fixed line due to non-payment of settlement
rate and different interconnection or access charges. A closer
look may, therefore, be required to compare cost related to
networks," TRAI said in a consultation paper released on
Friday.
Another key issue the regulator has taken up is that who should be
allowed to provide services. "Various possibilities may be
considered, ranging from only Internet service providers being
allowed to provide Internet telephony or only basic service
operators or national long distance operators being permitted to
open entry for all creating a new type of service, namely Internet
telephony service," it said.
TRAI expected to submit its recommendations on Internet telephony
to Department of Telecom, by January end.
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No forex endorsement on passport
Mumbai:
Reserve Bank of India has done away with the stipulation requiring
foreign exchange dealers to endorse on the travellers passport
details of foreign exchange purchased.
The relaxation comes days
after the central bank hiked the limit for carrying foreign
exchange in cash to $2,000 from $500.
Till now it has been
mandatory for authorised dealers to endorse on the travellers
passport the foreign exchange released for travel and tourism
purposes.
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Insurance
claims to be settled within 7 days
New Delhi:
The Insurance Regulatory and Development Authority wants general
insurance claims to be settled within seven days. Beyond this
period the insurance companies would have to pay annual rate of
interest of 10 per cent on the claim amount.
IRDA Chairman N Rangachary said that it is unfortunate that four
public sector companies have not shown any improvement in the
quality of their services.
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IT
raids at footwear, computer firm
New Delhi:
Income Tax department, which has been carrying out raids at
various premises of a footwear and a computer company for
allegedly selling a portion of their products without accounting
for it, has recovered Rs 1.29 crore cash besides several
incriminating documents revealing concealed income.
The I-T officials had raided the premises of Action Shoes and its
computer division Microtek computers. The department recovered
unaccounted fixed deposits worth Rs 20 lakh, unaccounted jewellery
worth Rs 30 lakh, unaccounted stocks worth Rs 2 crore besides some
books of documents.
Sixteen lockers belonging to the two companies had been seized
which would be opened in due course of time.
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