‘Flash crash’: SAT asks NSE to settle trade annulment case
Mumbai: The Securities Appellate Tribunal has directed leading bourse NSE to accept the settlement proposed by Emkay Global Financial Services and two others related to an erroneous trade that caused a ‘flash-crash’ in 2012 and release the withheld payments within two weeks. The ruling brings to an end the bickering over the issue between the exchange, Emkay Global and two counter parties — Inventure Growth & Securities Ltd, Prakash K Shah Shares and Securities Ltd — since the ‘flash-crash’ in Nifty in 2012. Payments were withheld as the erroneous trade was not annulled by the exchange. The case relates to orders entered by a dealer of Emkay on October 5, 2012, that had led to a flash-crash of over 900 points (fall of 15.5 per cent) in the NSE’s benchmark index Nifty, forcing the bourse to temporarily halt trading
Colgate to pay Rs 8 interim dividend
Mumbai: Global FMCG company Colgate-Palmolive India said its Board has declared a third interim dividend of Rs.8 per share for the ongoing fiscal.
Honda to invest
New Delhi: Japanese auto major Honda’s cars and two-wheelers subsidiaries in India will invest
a total of Rs 965 crore to increase their respective production capacities at two existing plants in India by 2016. The company’s wholly-owned arm, Honda Cars India Ltd (HCIL) will invest Rs 380 crore in its second plant at Tapukara in Rajasthan to expand production capacity to 1.80 lakh units from the current 1.20 lakh units.
Tax offices to remain open on Saturday
New Delhi: The government said on Friday that all field offices of customs, central excise and service tax shall remain open on March 28, Saturday, to facilitate filing of returns by e tax-payers. The government has revised its target to raise 5.42 trln rupees fromindirect taxes during the current financial year from 6.25 trln rupees as budgeted for 2014-15.
