Punjab Mail

  SEBI has slapped a penalty of Rs.15 lakhs to Kirloskar Industries (KIL) Director, AN Alawani for indulging in fraudulent and unfair trade practices and alleged that he helped the promoters who owned 15% of the company to walk away with Rs. 275 crores . The regular has also barred him from the capital markets for period of six months. Even though   Mr. Alawani did not trade in shares in his own personal trading account, SEBI in their note said he   was an insider as he was in possession of the UPSI. He was trading as an authorised “agent” for and behalf of the Kirloskar Industries (KIL). The note added that he aided KIL promoters in selling their shares of Kirloskar Brothers Ltd (KBL) to Kirloskar Industries (KIL) thus together have allegedly committed fraud on KIL and public/ minority shareholders of the company. In  KBL ’s board meeting held on 27th July 2010, the management disclosed the poor profitability of  KBL . This was clearly confidential informat...

      Leading Ad Agency Drags Danik Bhaskar To Court For Copyright Infringement, Plagiarism   All About Ads Private Limited, a leading award-winning advertising agency having its operations in 16 states in India, has dragged Divya Bhaskar of Dainik Bhaskar Group to court for copyright infringement and plagiarism of its work "Desh ke Hero" campaign which was created for the Government of India (GoI). The campaign aimed at felicitating Corona Warriors across the nation.   A civil suit has been filed by Ankur Jain, director of All About Ads Private Limited, before the Commercial Court at Mizapur, Ahmedabad and sought damages to the tune of Rs 9.5 crore along with seeking a restrain on Divya Bhaskar from publishing the contentious ad campaign.   Apart from Divya Bhaskar (Dainik Bhaskar Group), its Chief Executive Officer Sanjeev Chauhan and Managing Directors Girish Agarwal and Sudhir Agarwal have also been named in the suit. The media house’s...