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BoI to sell 25.05% stake in its life insurance joint venture
Finally, IRDA cancels license of ITI Reinsurance
Meanwhile, Canadian based Indian born billionaire Prem Watsa, through his Indian general insurance company Digit Insurance, had tried to take over the company but was not allowed by the IRDAI do it as the company hadn’t done any business and any takeover of the company would have been treated as a trading of license which is not allowed under regulations
Indians are addicted to cheap coal power and it’s killing them
With a population forecast to overtake China’s as the world’s largest within just five years, India has a pressing need to alleviate poverty and build infrastructure. That means tackling a complex challenge like air pollution often falls by the wayside. Causes include coal-powered plants, but also unregulated construction sites, agricultural burning, millions of vehicles and an arid landscape, yet debate of the impact remains muted.
Govt notifies thresholds for filing class action lawsuits
An application for class action can be filed by a member or members representing five per cent of the total members of a company. It can also be done by 100 members of a company, whichever is less, according to the ministry.The same criteria will also be applicable for depositors of deposit-taking companies.In case of an unlisted company, a member or members holding at least five per cent of the issued share capital can file for class action. For listed companies, this threshold would be two per cent.
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