Business
SEBI should probe deeper in front running by Lamby as nexus emerges
Front running by people with knowledge is a common thing and there have been many such cases in the stock market concerning the same. When this is done by someone as influential as a fund manager and he is asked to disgorge illegal gains, it hurts even more.
This is because while the disgorgement is of gains made by the individual, the disgorged funds are deposited in the coffers of the regulator, not the unit holders of the scheme where the fund manager was managing business. It is these people who have been wronged and money made of them.
Two fund managers of Axis Mutual Fund were sacked/terminated by the management of Axis after investigating them for roughly three months. Market grapevine says that one of the two fund managers came into public limelight because he drove a fancy top-end car from Lamborghini. This car is apparently not in the fund manager’s name for obvious reasons. It is in the name of an NBFC which is into leasing or lending against cars. Whether they have other such cars in their portfolio remains unknown. This NBFC is floated by a leading stock broking firm.
The question that comes to mind is, what was the relationship of the fund manager with this broking outfit? Was it just a normal borrower-lender relationship or went beyond that? If so, was a trading account in the names of the beneficiaries of the fund manager maintained here? If so, was this company/entity a partner in crime or only a facilitator?
There are so many questions which remain unanswered at this point of time. It becomes the duty of Axis Bank and its key functionaries to clear all these doubts before the matter picks up steam and leads to a cascading nature. The buck cannot stop with just two fund managers being involved, there have to be more heads which need to roll.
For the uninitiated, the word insider trading means “the illegal practice of trading on the stock exchange to one’s own advantage through having access to confidential information”. Front running means “the practice by market-makers of dealing on advance information provided by their brokers and investment analysts, before their clients have been given the information”. While the words are intertwined, they have a lot of similarities and differences. The fund managers indulged in front running by leaking information on their trades to associates for personal benefit.
It was time SEBI took strict action and started reimbursing the money collected through disgorgement to the benefit of unit holders of respective schemes as they are the people who have been cheated.
Business
‘Take A Trip To Vietnam For Your iPhone 16’: X User Proposes Cost-Effective Way To Buy The Latest Apple Smartphone
Apple recently launched its latest iPhone series, the iPhone 16 series. In addition, the company also launched the latest Apple Watch along with the latest version of Apple AirPods.
Trip To Vietnam For Apple
Apple products from time immemorial have been known for their exorbitant and sky-high pricing. Many have often made memes about having to sell their organs to be able to afford one of their iPhones.
Now, with the latest launch, and X user has found a way to cut corners by taking a trip.
According to the user, an aspiring iPhone buyer in India should take a trip to the East Asian nation of Vietnam to be able to get the new iPhone 16 at a cheaper rate.
However, the user also notes that these savings can only be made, if the buyer is intending to buy the advanced iPhone 16 Pro iPhone 16 Pro Max.
Savings Only iPhone 16 Pro
The user said, “Plan your #iPhone16 purchase with a trip to #Vietnam and spend the same amount you would be spending buying it here in India.”
In addition, the user also added, “But the savings work only if you are planning to buy the #iPhone16Pro or the #iPhone16ProMax”.
In addition, the user also surmised an instance of users travelling to the UAE an purchasing these phones.
According to the user, the Visa fees & fight rates don’t make Dubai that lucrative unless flying somewhere via UAE or planning for the #iPhone16ProMax only”.
As per the statistics produced by the user, the most expensive iPhone 16 Pro Max will cost an Indian buyer Rs 1,44,900 a piece. In Vietnam, however, it would cost a buyer Rs 1,18,992.
This marks a difference of Rs 25,908. Meanwhile, in the UAE, particularly in Dubai, the same phone would cost the buyer Rs 1,16,550, marking a difference of Rs 28,350.
The iPhone series will be available in India from September 20, with the pre-order for the phone starting on September 13.
Business
Mumbai: MahaRERA To Launch New ‘MahaCRITI’ Website On September 1, Existing Portal Offline For Migration On August 30-31
The Maharashtra Real Estate Regulatory Authority’s (MahaRERA’s) new website ‘MahaCRITI’ will be launched on September 1 at 00.00 hours. To enable the migration to the new portal, the existing MahaRERA’s website will go offline on August 30 and 31.
During this transition period, the back-end team will perform various technical tasks to provide better user experience.
MahaRERA will also conduct classroom and virtual training for all real estate stakeholders to facilitate familiarity, easy navigation and user friendliness of MahaCRITI.
The training, that commenced on Thursday, will continue on August 30 and September 1 at MahaRERA’s head office situated in Bandra-Kurla Complex. The housing regulator has announced training schedule on the website. Videos on the training demo shall also be made available on MahaRERA’s portal.
The stakeholders are encouraged to participate in these sessions for a hands-on experience with the new system.
The training’s second phase will be available for two weeks after the website goes live on September 1. The training module will also guide the complainants as well as lawyers on complaint registration and its further process.
Developers, promoters and their self-regulatory bodies will be guided on how to use the website effectively for routine tasks such as registration of new housing projects, corrections, extensions as per requirement, quarterly progress reports, annual progress reports and project completion Form 4.
Business
2025 Yamaha YZF-R15 Launches Globally with Exciting New Features and Color Choices
Yamaha has launched an updated version of its YZF-R15 in Indonesia, enhancing its entry-level sports bike with new features and a fresh look. The updated model now offers smartphone connectivity, similar to the version available in India. It also introduces a striking-black color option, along with grey/silver/, grey/black, and blue. Despite these upgrades in features and appearance, the bike maintains its original mechanical design, ensuring reliability while appealing to new and existing riders.
The 2025 Yamaha YZF-R15 for the Indonesian market maintains its familiar 155cc single-cylinder engine with VVT, producing 18.1 bhp and 14.2 Nm of torque, and is paired with six-speed transmission. It features a monoshock rear suspension and inverted telescopic front forks, along with dual-channel ABS and disc brakes on both wheels. While it lacks the traction control found on the Indian model, it retains its Deltabox frame, an 11-liter fuel tank, and a total weight of 141 kg, all supported by 17-inch alloy wheels.
The 2025 Yamaha YZF-R15 comes equipped with a range of advanced features, including dual-channel ABS, traction control, a slipper clutch, and a quick shifter. It also features a fully digital instrument cluster that provides not only essential ride information but also ride tracking, onboard diagnostics, and periodic maintenance reminders, enhancing the overall riding experience.
India Yamaha Motor has marked a notable milestone in its manufacturing history with the success of the Yamaha Ray ZR 125 Fi-Hybrid in Europe. This scooter, produced in India, has gained considerable traction across several European nations. From January to July this year, approximately 13,400 units of the Ray ZR 125 Fi Hybrid were sold across 27 European countries.
Consumers have responded positively to the Yamaha Ray ZR 125 Fi Hybrid, appreciating its well-rounded design and features. The scooter has received a positive response across major European markets such as the UK, Spain, France, Italy, Germany, Turkey, Switzerland, Greece, and Portugal.
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