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Moneycontrol.com

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"Moneycontrol.com is an Indian onlinebusiness news website owned by E-EIGHTEEN Dot Com (P) Ltd., a subsidiary of the Mukesh Ambani (Reliance Industries) controlled media house TV 18.[1]

History

The website was started by the husband and wife team of Victor and Sangeeta Fernandes. In 2000, it was acquired by E-Eighteen dot com,a subsidiary of the Indian TV channel TV 18. The couple were given 7.5% of the equity capital and E-18 got 92.5% following the acquisition.[1]In 2014, Reliance Industries acquired Network 18 and TV18. This acquisition included Moneycontrol.com and several other websites and channels owned by TV18.[2]

In the news

Mathew Easow, an investment adviser active on the site was fined by Securities and Exchange Board of India (SEBI) in September 2006 for giving misleading recommendations.[3] In the same year the website launched Moneybhai Investor, a virtual stock market game where players could deal in real-time.[4] The website has also helped in organising investor's camps.[5]

In July 2007, Hutch and Moneycontrol.com launched stock alerts packs.[6] In October of the same year, the Delhi High Court ordered it to stop publishing articles from Mint after Mint's owner HT Media filed a copyright infringement suit.[7] "Vaishya", a stock simulation event was conducted by Moneycontrol.com at PSG College of Technology's annual fest in February 2008.[8] The website underwent a makeover in July 2008 based on viewers' feedbacks.[9] The government of Maharashtra blocked Moneycontrol.com and bseindia.com in its headquarter Mantralaya in January 2010 following complaints that employees' use of these websites for online trading was affecting regular work.[10] In 2010 Intuit Money Manager, a financial software was launched by Intuit India and Moneycontrol.com, which provided a free 90-days trial. The software enabled users to keep all their investment related information at one place and also calculate tax returns. After the trial ended ₹ 1 was charged per day.[11] Moneycontrol.com was hacked on 6 November 2010 and a malicious code was inserted which redirected to an exploit website Brenz.pl.[12]

Collaboration with "My universe'

MyUniverse collaborated with Moneycontrol.com to provide "an expanded personal finance platform". This service enabled users to manage their bank and credit card related details at one place along with transaction services and regular recommendations.[13]

References

  1. ^ a b "TV18's unit buys Moneycontrol.com". Business Line. Mumbai: The Hindu Group. 1 June 2000. Retrieved 5 March 2015.
  2. ^ "Network 18 shares surge 20% as RIL to acquire control". The Hindu. Mumbai: The Hindu Group. Press Trust of India. 30 May 2014. Retrieved 11 April 2015.
  3. ^ "Investment adviser fined Rs. 25 lakh". The Hindu. Mumbai: The Hindu Group. 27 September 2006. Retrieved 11 April 2015.
  4. ^ Mehra, Priyanka (11 March 2008). "Now, Sensex-based games to help you master the market". Mint. New Delhi: HT Media. Retrieved 11 April 2015.
  5. ^ "Stock expert's advice to investors". The Hindu. Vishakhapatnam: The Hindu Group. 17 June 2007. Retrieved 11 April 2015.
  6. ^ "Hutch offers stock advice". The Hindu. Coimbatore: The Hindu Group. 5 July 2007. Retrieved 11 April 2015.
  7. ^ Nayak, Malathi; Mehra, Priyanka (12 October 2007). "Moneycontrol.com ordered to desist from publishing Mint articles". Mint. New Delhi: HT Media. Retrieved 11 April 2015.
  8. ^ "Srishti '08 from February 22". The Hindu. Coimbatore: The Hindu Group. 20 February 2008. Retrieved 11 April 2015.
  9. ^ "Moneycontrol.com gets a makeover". Mint. Mumbai: HT Media. 28 July 2008. Retrieved 11 April 2015.
  10. ^ "Maha govt blocks 2 online trading sites in Mantralaya". Rediff.com. Press Trust of India. 8 January 2010. Retrieved 11 April 2015.
  11. ^ Sarang, Bindisha (1 February 2010). "New online personal finance tool launched". Mint. HT Media. Retrieved 11 April 2015.
  12. ^ "Moneycontrol.com hacked: Websense". The Times of India. New Delhi: The Times Group. 9 November 2010. Retrieved 11 April 2015.
  13. ^ Barbora, Lisa Pallavi (12 April 2013). "Advantage customers: providers shift focus". Mint. HT Media. Retrieved 11 April 2015.
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