Insurance News
Prev Next
LIC says its ITC investment is 'in interest of public welfare', seeks dismissal of PIL
24-Jun-2017 (09:53)

The Life Insurance Corporation of India (LIC) said its investment in cigarette maker ITC has been made with the bona fide objective of enhancing returns for its policy holders, investors, and in the interest of public welfare.

LIC, state insurers and the Centre have been dragged to the Bombay High Court because of a public interest litigation (PIL) that questioned the government's investment in ITC and other tobacco companies.

While denying any contradictions with the government's tobacco control policies, LIC, in its affidavit, has said that there is no regulation banning investment in ITC. LIC has said investments made in ITC are through a secondary market that are routine in nature. The insurer has sought the petition's dismissal.

Public sector insurance companies and the Specified Undertaking of United Trust of India hold 32 per cent stake in ITC.

Sumitra Pednekar, wife of former home minister Satish Pednekar, Dr Pankaj Chaturvedi, a surgeon at Tata Memorial Hospital and R Venkataramanan, managing trustee, Tata Trusts (in his individual capacity) filed a PIL in April against the government's investment in tobacco companies.

The HC made the Securities and Exchange Board of India (Sebi) a party to the petition in the same month.

Sebi, however, has sought to distance itself from the issue. In its affidavit, filed on Friday, Sebi said that petitioners have neither prayed for any relief against it, nor alleged its involvement in the share ownership.

Sebi is a body functioning in the interest of investors and is responsible for regulating deals in the securities market, said the regulator, adding that no issue has been raised in the PIL against it. "Sebi is neither a necessary nor a proper party for the present proceeding," it said and requested the court to exclude it from list of respondents.
Insurance regulator IRDAI directs Sahara India Life Insurance to stop underwriting new business
24-Jun-2017 (09:32)
GST impact: Insurance premium, credit card bills, to get costlier
20-Jun-2017 (17:46)
LIC corners 38.67% of SBIs Rs 15,000 crore QIP
19-Jun-2017 (19:40)
Insurance Information Bureau plans central data base of insurance agents
19-Jun-2017 (09:37)
Kotak Mahindra Bank acquire 26% of shares from Old Mutual Plc in insurance arm gets CCI nod
16-Jun-2017 (19:25)
Private life insurance companies drive industry's growth in May
15-Jun-2017 (09:47)
Life Insurance Companies New Business Premium jump 11% in May
13-Jun-2017 (09:54)
IRDAI takes over management of Sahara Life Insurance; appoints R K Sharma as administrator
13-Jun-2017 (09:35)
Reliance General Insurance IPO by FY18-end
12-Jun-2017 (16:59)
LIC settles 99.92 per cent of death claim cases, sets record high
12-Jun-2017 (09:58)
UK-based Standard Life pushes for listing of HDFC Life Insurance
10-Jun-2017 (09:56)
IRDAI reaffirms original position on HDFC Life - Max Life Insurance merger
08-Jun-2017 (18:55)
Max Life, HDFC Life Insurance 'committed to merger', weighing options
08-Jun-2017 (12:51)
Connect with us :   
About us
Our Services
Core Values
Investor Relations
Product & Services
Institutional Broking
Clearing Services
Trade & Products
Globe Connect Pro
Globe Trade Smart
Globe Connect Mobile/Tablet
Globe News Connect
Globe e-KYC Application
Back Office
Back Office
KYC/KDC Status
Mutual Fund
RMS Policy
Download Forms
Useful Links
Exchange Holidays
Policies, Procedures, Rights, Obligations and RDD
Guidance Note on FATCA and CRS May 2016
Right and Obligation, RDD, Guidance Note in Vernacular Language
In case of any grievances pleae write to / (For Trading) (For DP) (For PMS) (For Commodities)
SEBI Regn. No. NSE.:INB/INF/INE 230663732, TM No.:06637, Clearing No.- M50302 | SEBI Regn. No. BSE.:INB/INF/INE 010663731, Clearing No.- 3179 | SEBI Regn No. MSEI :INB/F 260663738, INE 260663732, TM Code-1004, Clearing Member Code- 4 | USE SEBI Regn no. - INE 270663732 , CM code: 06637 | SEBI Regn for DP : IN-DP-NSDL-97-99, NSDL- DP ID: IN300966, CDSL DP ID: 12020600 | Research Analysts Regn No. INH100001187 | PMS Regn No. INP000002361
* Through subsidiary Globe Commodities Ltd. --> Commodity Membership No.: NCDEX- FMC Regn. No. NCDEX/TCM/CORP/0004, TM Code-00012 | MCX- FMC Regn. No. MCX/TCM/CORP/0628, CM Code-8550 | ICEX- FMC Regn. No. ICEX/TCM/CORP/0011, TM Code- 1009 | NMCE- FMC Regn. No. NMCE/TCM/CORP/0018, TM Code-CL0111 | ACE - FMC Registration no.- ACEL/TCM/CORP/0163, TM code- 4001 | UCX FMC Regn. No.: UCX/TCM?CORP/0014, TM Code- 10014 | NCDEX Spot Exchange Membership no.- NCDEXSPOT-CR-07-10011
** Through step in subsidiary Globe Comex International DMCC --> DGCX **TM Id.1064, CM Id.3064*
"We also do Pro-Account trading in Commodity Segment.."
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."
Attention Investors:
"Prevent Unauthorised transactions in your account --> Update your mobile numbers/email IDs with your Stock Brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day .......... Issued in the interest of investors"
"Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL/CDSL on the same day......................issued in the interest of investors."
"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
© 2013 Globe Capital Market Limited. All rights reserved
Designed, Developed and Content powered by C-MOTS Infotech (ISO 9001:2008 Certified) Privacy Policy Disclaimer Terms and Conditions