Latest news with #ICCL
Time of India
13 hours ago
- Business
- Time of India
India Cements Capital sells 24.7% stake
CHENNAI: India Cements Capital (ICCL), a former associate company of India Cements, has sold 24.7% stake in the company to stock broking firm Paterson & Co. Chennai-headquartered ICCL is not part of India Cements, in which Ultratech Cement acquired the stake of N Srinivasan and family an year ago. Tired of too many ads? go ad free now In a stock exchange filing on Thursday, ICCL said Paterson & Co has acquired 53,72,000 shares comprising 24.7% stake. This will bring down the stake of majority shareholder Sri Saradha Logistics to 50.15% from 74.9%, though it will continue to hold the controlling stake. According to sources, the value of the deal was around Rs 8.5 crore. ICCL offers services in verticals including foreign exchange and share broking. India Cements forayed into financial services in 1990s by acquiring Aruna Sugar Finance and later renamed it as ICCL. The company commenced Full Fledged Money Changing activity in 1996. After UltraTech Cement took over India Cements last year, ICCL was hived off from the India Cements group. In July 2024, the promoter and promoter group comprising ICL Financial Services, ICL Securities and Srinivasan entered into agreements to sell their entire holdings of 1,04,21,750 equity shares constituting 48% of the paid-up equity share capital of the company to Sri Saradha Logistics, another entity in the promoter group. During FY25, ICCL recorded a revenue of Rs 4.6 crore.
The Journal
3 days ago
- Health
- The Journal
Opt-out system for organ donation in Ireland comes into effect from today
A NEW LAW called the Human Tissue Act 2024 comes into effect from today, which will introduce an opt-out system of consent for organ donation in Ireland. People who do not wish to be organ donors will now have to add their name to an opt-out register. If someone's name is on this register, their next of kin will not be asked about organ donation. The new act was signed into law more than a year ago, after it garnered wide support from politicians across parties following seven debates, and a series of amendments. At that time, the Oireachtas was told that the bill is intended to 'support and increase organ donation and transplantation in Ireland' by creating a 'soft opt-out system of consent'. In 2024 263 organ transplants took place, including 84 from deceased people and 30 from living donors. The majority were kidney donations. Only around 1-2% of people who die will be eligible for organ donation. Advertisement Now when someone dies and is eligible, the hospital will consult the opt-out register to check their name is not on it. However, as under the previous system for organ donation, the person's family will still have to agree to the donation, so the consent of the family is still needed. The new law will formalise the concept of a 'designated family member' and will rank these in order, from spouses and civil partners, through siblings, down to friends. A doctor will not be able to remove a deceased person's organs unless someone considered a 'designated family member' confirms in writing that they have no objection to the donation. Yesterday the Irish Council for Civil Liberties said it had written to the Health Minister Jennifer Carroll MacNeill expressing concern that the new organ donation system is not fully understood by the public. 'ICCL has been contacted by members of the public who are concerned about and do not fully understand next week's changes, indicating that the government's ongoing media campaigns are not reaching a wide enough audience,' a spokesperson for the organisation said. ICCL called on the Minister to ensure that new guidelines which are to be developed on designated family members are published as quickly as possible, and to ensure that a 'far-reaching' information campaign is in place. The HSE is due to update this webpage with information on how you can join the opt-out register should you wish to do so. Read more details about the new law here. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
BreakingNews.ie
12-06-2025
- Politics
- BreakingNews.ie
Public Services Card database of millions of Irish people's faces declared illegal
The Data Protection Commission (DPC) has found that the collection of facial (biometric) data for the Public Services Card (PSC) is unlawful. The Irish Council for Civil Liberties (ICCL) said it partially welcomes the findings, but said the decision is "more than a decade late and inadequate". Advertisement The Government had previously claimed that the facial records were not biometric data. On Thursday, the DPC found that the Department of Social Protection (DSP) unlawfully collected facial records (biometric data) from 70 per cent of the population of Ireland over 15 years. In addition, the ICCL said the department failed to tell people why it was collecting their facial records and whether it was legal. In light of the infringements discovered by the DPC, it reprimanded the Department of Social Protection by issuing administrative fines totalling €550,000. It also issued an order to the department requiring it to cease processing of biometric data in connection with SAFE 2 registration within nine months of this decision if the department cannot identify a valid lawful basis. Advertisement Deputy commissioner, Graham Doyle, said: 'It is important to note that none of the findings of infringement identified, nor the corrective powers exercised by the DPC, pertain to the rollout of SAFE 2 registration by the DSP as a matter of principle. "The DPC did not find any evidence of inadequate technical and organisational security measures deployed by the DSP in connection with SAFE 2 registration in the context of this inquiry. "This inquiry was concerned with assessing whether the legislative framework presently in place for SAFE 2 registration complies with the requirements of data protection law and whether the DSP operates SAFE 2 registration in a data protection-compliant manner, and the findings announced today identify a number of deficiencies in this regard.' 'Illegal facial database' The ICCL said the Data Protection Commission failed to take decisive action on Thursday and said that, after 15 years, its actions are not enough. Advertisement The ICCL is insisting on the immediate deletion of the illegal facial data database. It has also called for the department and the DPC to explain to the Oireachtas and the public how this system was permitted to operate unlawfully for so long. Executive Director of ICCL, Joe O'Brien, said: 'For many years, ICCL and our colleagues at Digital Rights Ireland, have argued that the PSC's mandatory use of facial recognition technology is unlawful. 'This is a partial win for the privacy and data protection rights of people living in Ireland. It confirms what we have advocated for, for many years - that the Public Services Card, which was estimated to have cost the State €100 million, trespassed upon human rights and infringed EU and Irish law. 'The DPC decision is over a decade late and does not go far enough. The Department effectively created a de facto national biometric ID system by stealth over 15-plus years without a proper legal foundation. This illegal database of millions of Irish people's biometric data must be deleted.'
Time of India
05-06-2025
- Business
- Time of India
This mutual fund investment platform to shut down from June 30, 2025: What happens to your active SIPs, existing investments?
Piggy, a popular mutual fund investment platform, will cease operations in June. The company has recently notified all its customers through emails about this matter. Several users express concerns regarding the future of their ongoing investments, SIP (Systematic Investment Plan) mandates, and access to tax and transaction records. 'After much reflection, we've decided to discontinue further development and support for the Piggy app and web portal. The platform will go offline 30 days from today,' the company announced in an email on May 30, 2025. The company has clarified various topics through mail to guide customers on managing their SIPs, pending redemptions, and dividend payouts. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo Can I transfer my SIP to other MF platforms? It's important to note that SIP mandates cannot be transferred to another platform. You need to set up new SIPs on MF Central, individual AMC websites, or any other investment platform you choose. Live Events What happens to my active Piggy SIPs , can they be transferred? All SIP mandates set up through Piggy will be automatically cancelled between June 15 and 20, 2025, according to the company's email. If you prefer to stop them earlier, you can do so manually through the Piggy app. Alternatively, you can contact your bank to cancel any standing instructions issued in the name of BSE Star or ICCL. Here are the FAQs from the Piggy platform, which customers should note: Do I need to withdraw my money before Piggy shuts down? No. Your mutual fund units live with the fund houses and their RTAs ( CAMS or KFintech). Piggy is just a viewing/transacting layer. Even after our app goes dark, you can: Log in at individual AMC/RTA portals, or their mobile apps. Request a Consolidated Account Statement (CAS) from CAMS or MF Central any time you need a snapshot of all holdings. Bank holidays in June 2025: Check full list of state-wise bank holidays What happens to my active SIPs? Can they be moved? Automatic stop: Every SIP mandate set up through Piggy will be cancelled between 15 and 20 June 2025. Stop it sooner: Open the Piggy app, tap your profile (top-left), go to upcoming events, click on 'Stop SIP.' Bank route: You can also tell your bank to cancel any standing instructions in the name of BSE Star / ICCL. Transfer? Sadly, SIP mandates cannot be ported. You'll need to start fresh SIPs on MF Central, AMC sites, or another platform of your choice. Can I buy or sell from other platforms? Absolutely. Because these are 'physical' (RTA-held) units, any service that supports importing external folios can handle them. Popular options: MF Central (industry-wide) Fund house or RTA portals/apps Third-party investment apps that let you link existing folios (check with their support teams). What about pending redemptions or dividend payouts? Redemption orders placed before Piggy shuts down will be processed normally. Dividends will keep flowing straight to your registered bank account. Piggy's closure doesn't affect AMC payouts. How do I get tax statements after Piggy is gone? Capital gains reports: MF Central and CAMS both offer period-wise capital gains statements. Is my personal data still safe? Yes. We're following standard data-retention rules and will wipe or anonymise what's no longer required by law.
Extra.ie
27-05-2025
- Business
- Extra.ie
Microsoft accused of sharing users' secret data with advertisers
The Irish Council of Civil Liberties was given the go-ahead by the High Court yesterday to bring a case aimed at forcing Microsoft to stop the alleged sharing of sensitive data gleaned from people's internet use with advertisers. The ICCL has taken its action against Microsoft Ireland Operations Ltd, on behalf of all Irish users of Office, Windows, Xbox and other popular products. It is targeting what it describes as a massive data breach 'of millions of people's information' caused by real-time bidding (RTB) within Microsoft's advertising system. It claims that Microsoft's RTB system operates behind the scenes on websites and apps to match advertising to specific people. Pic: Framalicious/Shutterstock James Doherty, counsel for the ICCL, told Judge Barry O'Donnell the system compiles data 'segments' about Irish people based on what they have viewed online. He said these are then auctioned to a series of potential third-party advertisers in 'milliseconds'. He said all of the personal info in those segments, that was processed by Microsoft, was protected by the EU's General Data Protection Regulation (GDPR). This could include information such as whether a person gambles, their finances and debt, their age, sexual interests, whether they have a child or a child with special needs, their medical condition, and even whether they work in a sensitive national security role, the court heard. Mr Doherty said that, by way of example, the ICCL had used an audience discovery tool that allowed it to discover a sample of the data being processed by Microsoft. Pic: Getty Images On May 9, 2025, this tool was able to identify that a segment was processed that related to Irish people who had an interest in online gambling with Paddy Power, the court was told. Mr Doherty said the segment contained 3,918 cookies, over 43,000 advertising identifiers and over 45,000 cached email addresses. He said the tool also detected segments that day containing sensitive data, including government, intelligence and counter-terrorism information. Mr Doherty added that Microsoft products featured on 70% of laptops and personal computers in Ireland. Users of Microsoft products and services, including Windows, Xbox, web-based Office products such as Word, Excel and Outlook, the Edge web browser, and websites and apps that use Microsoft's Xandr advertising technology, are affected, he told the court. Pic: Niall Carson/PA Wire 'A majority of consumers would be affected,' he said. The ICCL believes the outcome of the case could impact Microsoft's operations across the EU, as the company's European headquarters are based in Ireland. The organisation hopes to make Microsoft bring its systems into compliance with GDPR. Its application comes on the seven-year anniversary of the GDPR's introduction in May 2018. Mr Doherty told Judge O'Donnell it was the first time that a class action case had been taken to the Irish courts under the GDPR laws. Dr Johnny Ryan. Pic: Irish Council For Civil Liberties (ICCL) The judge said he would give leave for the case to proceed, but noted that Microsoft was not represented in court yesterday and will have the opportunity to contest the case at a later date. Dr Johnny Ryan, director of the ICCL's Enforce unit, is leading the case. Before the High Court hearing took place, he said: 'People's intimate secrets such as their relationship, work and financial status are broadcast by Microsoft into the real-time bidding advertising system. 'That system is a black hole of data open to any malicious actor and represents a huge data breach of millions of people's information… This is a data breach, pure and simple.'
