News

Whispers around recent income tax searches involving a well-known actor who owns a prominent restaurant in Mumbai have taken an interesting turn.

In agency circles, there is buzz about the actor’s alleged connection with a famous baba, with speculation that some of the baba’s money may have been used to expand the restaurant business.

Officials say the cash found during the searches was largely on expected lines.

However, what is drawing more attention is the chatter that the baba’s equations with the top brass may be heading for a rough patch, as his proximity to regional party leaderships is becoming increasingly visible.

In another corner of Dalal Street, merger rumours involving a major financial institution are doing the rounds yet again.

Such news tends to surface every two–three years, and almost every time, one particular exchange becomes the centre of speculation.

This time, while that exchange is once again in the gossip mill, the name of another exchange – not part of earlier deal talk – is also being whispered in broking circles.

For now, no one is willing to go on record. Some say it is too early to comment, while others feel it could just be an attempt to test the waters by floating the rumour.

Recent SEBI’s board balanced decision on mutual fund regulation is getting praise in the mutual fund and broking community.

Mutual funds, brokers and industry associations are chatting about the positive attitude of the new regime at the regulator.

Some compliance officers say that earlier they used to stop sending their responses to SEBI, because it would do whatever it wanted to do.

In the new regime, after a long time, the regulator is listening to everyone and acting in a balanced way, which gives hope to the industry.

Interestingly, this mutual fund regulation had been pushed to the back burner in the last regime after pressure from the mutual fund industry.

This time, however, it has been cleared in a manner that seems to have kept everyone happy – AMCs, brokers and investors alike.