HDFC MF front-running case: Sebi bars former dealer from mkts
Closing a seven-year-old front running case at HDFC Mutual Fund, Sebi has barred former equity dealer Nilesh Kapadia and three others from the markets and ordered return of over Rs1.75 crore worth illegal gains. Kapadia, who had to quit the top fund house after the front-running case of 2007 came to the light, and three individuals who were trading on the basis of his tip-offs -- Rajiv Ramniklal Sanghvi, Chandrakant P Mehta and Dipti Paras Mehta -- have been barred from the markets for 10 years. In its 59-page order, the capital markets regulator Sebi said that the 10-year restraint period for them would be calculated after taking into account the restraint already undergone by him vide an interim order dated June 17, 2010.
livpure, Tendulkar launch initiative for safe drinking water
livpure Foundation, a CSR arm of diversified Sar Group, has joined hands with cricket icon Sachin Tendulkar to launch an initiative to spread awareness about safe drinking water across the country.
Under the initiative - ShuddhPaani, Swastha Bharat - the entity would map the water quality across different regions and help create a platform for all interested stakeholders to address the critical problem.
“The initiative has been launched to create awareness among people regarding the benefits of safe drinking water. It is a movement to help eradicate the mortality rate among children under five due to waterborne diseases,” said Sar group Founder Rakesh Malhotra .