Non-bailable warrants issued against MDs of 32 companies by SC

Govt rolls out 6th tranche of gold bonds; fixes price at Rs 3,835/ gram

The Supreme Court has issued non-bailable warrants against Managing Directors (MD) of 32 Mumbai-based companies after they failed to deposit a penalty of Rs 5 lakh each as ordered by the apex court in October 2016.

The order was passed by a bench headed by Justice Rohinton F. Nariman.

The Managing Directors belong to companies Akshar Mercantile, Beta Trading, Vinay Mercantile, Anoop Multitrade, Anshul Mercantile, Everfame Trading, Highzone Trading, Inorbit Trading Co., Laksh Mercantile, Maginot NEW DELHI: To cash in on Dhanteras buying spree, the government on Monday rolled out the sixth tranche of sovereign gold bonds.

The Sovereign Gold Bond (SGB) Scheme 2019-20 - Series VI will close for subscription on the day of Dhanteras that is October 25.

According to a finance ministry statement, the government has fixed the issue price at Rs 3,835 per gram with settlement date as October 30.

Further, the government has decided to offer a discount of Rs 50 per gram for investors applying online and making payment for the purchase of the bond through digital mode.

"For such investors, the issue price of gold bond will be Rs 3,785 per gram of gold," the finance ministry said. Trading, Montreal Trading, Newtree Mercantile, Sarveshwara Trading and others.

The top court in its 2016 judgment had imposed the fine against the defaulters for indulging in fraudulent trade practices.

Upholding market regulator Sebi's order, the court asked all these companies to pay up immediately.

Sebi filed a petition on contempt of court in 2017, when the defaulters did not pay the fine.

The bench gave time to the defaulting companies to comply with the court order but many of them did not deposit the fine amount even then.