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SEBI in catch-22; SEBI approves bourse listing; TCI V CIL; TCS faces Indian class action in US…

SEBI in a catch-22: Tayals unbanned because offence of non-disclosure was “not grave enough”. What is the rationale of SEBI’s non-disclosure norms then? [Mint]

SEBI allows listing of stock exchanges; 51% publicly held stakes, though not more than 5% for individual investor, and max 15% for banks, depositories, insurance cos and public financial institutions [Business Standard]

TCI V CIL: Independent directors’ dissent to FSA fatwa [Mint]

India’s largest software company TCS faces class action US lawsuit by Indian employees for unauthorized salary deductions [BBC]

India get your cheques cleared within 3 instead of 6 months now, else lose cash [Taxmann]

Extent of abidance by the ‘community property law’ in India, and the question of gender neutrality [The Hindu]

Eversheds reports steady promotions at 22, half in UK, while Scotland law firm Dundas & Wilson promises massive axe [The Lawyer]

Megaupload founder Kim Dotcom’s hardship doesn’t end: Only gets to spend NZ$60,000 a month as he rides his Mercedes [Wall Street Journal]

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