Financial Services Commission of Mauritius on Tuesday said the offshore fund at the heart of the conflict of interest allegation Hindenburg Research levelled against Sebi chief is not domiciled in the Island nation, and that it does not permit the creation of shell companies.
In a statement, FSC said it has taken cognizance of the contents of the report published by Hindenburg Research on August 10, 2024, wherein mention has been made of 'Mauritius-based shell entities' and Mauritius as a 'tax haven'.
"The report of Hindenburg has further cited 'IPE Plus Fund' is a small offshore Mauritius Fund and 'IPE Plus Fund 1, a fund registered in Mauritius'. We wish to clarify that IPE Plus Fund and IPE Plus Fund 1 are not licensees of the FSC and are not domiciled in Mauritius," it said.
Hindenburg on Saturday alleged that Sebi chairperson Madhabi Puri Buch and her husband opened an account in 2015 with a wealth management firm in Singapore to invest an undisclosed sum of money in a ...

Sebi chairperson Madhabi Puri Buch

Private sector lender Bandhan Bank on the other hand, decided to up their rate substantially over others. On Tuesday, it announced a new bucket of 1 year 9 months at an attractive interest rate of 8%

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Primus cardholders will experience a level of luxury and service unmatched by any other credit card in India

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From left -  Sebi Chiefs Ajay Tyagi (2017-2022); C B Bhave (2008-2011); U K Sinha (2011-2017) (Photo: Wikimedia Commons)

Lalitha Nataraj previously worked with IDFC FIRST Bank and ICICI Bank

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The ratio of the effort of following the Sebi rules and the reward that the business brings is simply not attractive enough

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Pixel 9 and Pixel 9 Pro XL are available for pre-orders. Acer launched Chromebook Plus 14 and 15 with built-in AI features. List of all the AI feature that Google introduced with Pixel 9 series

Tech Wrap August 14

Orient Green Power Company on Wednesday posted over 40 per cent rise in its consolidated net profit to Rs 13.05 crore in the June 2024 quarter.
The company reported a consolidated net profit of Rs 9.29 crore in the quarter ended on June 30, a BSE filing showed.
Its total income rose to Rs 68.39 crore in the quarter from Rs 67.82 crore a year ago.
Orient Green Power Managing Director and CEO T Shivaraman, in a statement, said the current quarter is a moderate one in terms of generation.
The delayed onset of wind at certain locations resulted in a marginal year-on-year reduction in revenues during the quarter.
However, he further stated that this is expected to be made up in the upcoming quarters.
The approval of One Time Settlement (OTS) from the NCLT, Mumbai during the quarter contributed to the profits from discontinued operations, Shivaraman said.
"We have received the approvals for raising capital of about Rs 250 crore through a rights issue, and the issue is expected to open

Orient Green Power Company

Thirteen remote villages located in the Naxalite-hit Bastar region of Chhattisgarh will witness hoisting of the national flag for the first time on the Independence Day on Thursday, police said.
Setting up new camps of security forces in these villages in the last seven months has been paving the way for development of the respective areas, they said.  Tricolour will be hoisted in Nerlighat (Dantewada district), Panidobir (Kanker), Gundam, Putkel and Chhutvahi (Bijapur), Kasturmeta, Maspur, Irakbhatti and Mohndi (Narayanpur), Tekalgudem, Puvarti, Lakhapal and Pulanpad (Sukma) villages on Thursday where such event was not held ever in the past, Inspector General of Police of Bastar Range Sundarraj P told PTI.  Security camps at these places were established after the Republic Day last year. All these newly-established camps have provided a new and vibrant identity to the region and its native population. The camps would act as a ray of hope for the young and old in building a peaceful 

India, India flag

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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Tech wrap Aug 14: Google Pixel 9 series, Acer Chromebook Plus, and more

Orient Green Power Q1 results: Net profit jumps over 40% to Rs 13 cr

In a 1st, Tricolour to be hoisted in 13 villages of Naxal-hit Bastar dist

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Fund at heart of Hindenburg charges not domiciled in Mauritius, says FSC

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