I am guessing the rejection of the Indiabulls-LVB merger plan is more a case of not meeting fit and proper criteria and less of the NBFC becoming a bank without going through a licensing process, says Sandeep Parekh, Managing Partner, Finsec Law Advisors. Excerpts from an interview with ETNOW. What could be the reason for RBI to reject the Indiabulls-LVB merger proposal because as such they have not really mentioned any reason for that. Would you say that they were fair in their decision?It is probably the stuff which is already in the public domain regarding the bank itself and the loans given by it. It is to do with not just poor loans but because there has been mischief in the loans the bank has given, especially to the Religare Group. That probably accounts for this refusal. As you said, we do not have the order and it is only a disclosure by the company itself. We can only guess at this stage. The whole criteria of Reserve Bank of India on what is fit and proper is not in the … [Read more...] about LVB’s loans to Religare probably led to denial of merger proposal: Sandeep Parekh, Finsec Law Advisors
Match fixing law
The new law does not extend the same protection to Muslim migrants as to six other religious minorities fleeing persecution, thereby undermining India's commitment to equality before the law, enshrined in its constitution, he said. … [Read more...] about Citizenship law discriminatory against Muslims: U.N. Human Rights Office
Shah challenged Congress opposition leaders to hold a discussion with him on the CAA at a public forum. He named Congress leader Rahul Gandhi, Samajwadi Party's Akhilesh Yadav, Bahujan Samaj Party's Mayawati and TMC chief Mamata Banerjee while throwing the challenge. "Congress has become blind due to vote bank politics,"he said. He also balmed the Congress for Partition. … [Read more...] about ‘Citizenship Law to Stay, Those Protesting Can Continue’: In Lucknow, Amit Shah Says Govt Won’t Back Down
"You could legislate against a lot of things that are on the internet, but a lot of things are happening so quickly, and trends are emerging, that legislation's not always going to stop people from doing things." … [Read more...] about Tinder, Facebook images of children putting them at risk, authorities warn
"Their desire is sincere to protect us, but there's also a sort of tipping point where you collect all this data and you've turned into the surveillance state, and at some point you say, well, look, North Korea is probably a very safe place, but it's not necessarily the country most Australians would sign up for as a model for government," says Dreyfus. … [Read more...] about Nothing to hide: What happened to privacy?