INVESTOR ISSUES


The raging controversy over Madhabi Puri Buch and turmoil at the market regulatory body, almost drowned out a stunning order by the Bombay High Court on 26 August 2024. A bench of justices GS Kulkarni and Firdosh P Pooniwalla had imposed a stiff penalty of Rs80 lakh on the Securities & Exchange...

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Moneylife Digital Team 10 September 2024
After finding procedural errors, the Supreme Court set aside the Rs80 lakh penalty imposed by the Bombay High Court (HC) on Securities and Exchange Board of India (SEBI), Bombay Stock Exchange Ltd (BSE) and National Stock Exchange Ltd (NSE) for freezing of demat accounts of two investors. The...

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Moneylife Digital Team 09 September 2024
The Mumbai police have booked 25 entities, including the directors of IX Global LLC, IX Global Academy Pvt Ltd, Pochale Global Academy Pvt Ltd, TP Global FX, their directors and agents for duping 204 investors of around Rs35.21 crore. In a similar case, the Nagpur police have also registered a...

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A series of allegations by the Congress Party against Madhabi Puri Buch, chairperson of the Securities & Exchange Board of India (SEBI), sent shock waves through the financial sector yesterday, casting a further shadow over the integrity of the market regulator.    The accusations are so...

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The bitter family squabble among the members of the KK Modi clan is expected to come to a head on 6 September 2024 at the annual general meeting (AGM) of the flagship company of the family, Godfrey Philips India Ltd.   Among the resolutions up for voting is the renewal of the term of chairman...

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Moneylife Digital Team 05 September 2024
In a significant ruling on 3 September 2024, the Bombay High Court allowed petitioner Aruna Vinod Modi to amend her writ petition seeking details of the exemption granted by the market regulator to ICICI Bank from making an open offer in the merger and consequent delisting of ICICI Securities....

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Moneylife Digital Team 03 September 2024
In a startling turn of events, Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises Ltd (ZEEL), has made serious allegations against Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI). These accusations come amidst an ongoing SEBI...

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Moneylife Digital Team 03 September 2024
In a rapidly evolving controversy, the Congress Party fired a fresh salvo against Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI) today over ICICI's ESOP (employee stock options plan) policy, which it said was only uploaded on the US (Edgar website) and...

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Moneylife Digital Team 02 September 2024
The Congress Party through its spokesperson Pawan Khera held a press conference today providing details of how, Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (SEBI) had continued to earn income from the ICICI group.   The Party claims that this is only the...

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Moneylife Digital Team 02 September 2024
In a comprehensive study, the Securities and Exchange Board of India (SEBI) examined the investment patterns and behaviors of investors in initial public offerings (IPOs) listed on the main board between April 2021 and December 2023. The study, encompassing data from 144 IPOs, revealed several...

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A massive sum of over Rs2 lakh crore of people's unclaimed money lies trapped with the government, poorly accounted for and frustratingly difficult to reclaim, either by the original owners or, more often, by their heirs. These unclaimed funds represent the hard-earned savings of ordinary...

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Moneylife Digital Team 30 August 2024
Asset transmission challenges will only increase as the country becomes prosperous and, hence, there is an urgency to address the issues, said KV  Kamath, renowned banker and non-executive chairman of Jio Financial Services. Mr Kamath released Moneylife Foundation's report on "Challenges in...

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Last week, finance minister (FM) Nirmala Sitharaman asked public sector banks (PSBs) to make concerted efforts to mobilise deposits through special drives because deposits have been lagging behind loan growth. By July-end, deposits grew 10.6% year-on-year compared to a 13.7% growth in loans....

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Moneylife Digital Team 30 August 2024
The investor education and protection fund (IEPF) under the ministry of corporate affairs (MCA), which impounds corporate benefits, shares and debentures that remain unclaimed after seven years, holds shares in 1,561 listed companies. As of 1 August 2024, IEPF's shareholding in these companies...

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Moneylife Digital Team 30 August 2024
Terming the freezing of demat accounts of two investors as 'a classic example of high-handed action and a reckless action', the Bombay High Court (HC) imposed a penalty of Rs80 lakh on market regulator Securities and Exchange Board of India (SEBI), Bombay Stock Exchange Ltd (BSE) and National...

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Moneylife Digital Team 30 August 2024
Taking stern action for failing to meet regulatory requirements, Securities and Exchange Board of India (SEBI) has cancelled the registration of 39 stockbrokers and seven commodity brokers. Further, SEBI cancelled the registration of 22 depository participants (DPs) who are no longer affiliated...

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Moneylife Digital Team 28 August 2024
In a shocking development that has rattled the investment community, police on Wednesday detained a suspect in connection with DB Stock Broking, a company alleged to have defrauded investors of nearly Rs7,000 crore, says a report from Deccan Chronicle.   According to the report, Monalisa Das,...

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Moneylife Digital Team 28 August 2024
Market regulator Securities and Exchange Board of India (SEBI) has ordered Green India Infra Projects Ltd (GIIPL) and the company's Chief executive officer (CEO) Sunil Kumar Panda (noticee), to refund Rs5 crore collected through the issuance of secured optionally convertible debentures (SOCDs)....

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Moneylife Digital Team 26 August 2024
The National Stock Exchange (NSE) has paid Rs1,118 crore towards settling 70,897 claims filed by investor clients of the top-10 defaulting brokers out of its investor protection fund (IPF) trust from 1 January 2019 to 22 August 2024. As expected, investor clients of Karvy Stock Broking Ltd...

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Moneylife Digital Team 21 August 2024
In a significant development, the Mumbai bench of the national company law tribunal (NCLT) on Wednesday approved ICICI Securities' delisting application, dismissing objections raised by Quantum Mutual Fund and minority shareholder Manu Rishi Gupta.   Under the approved scheme, ICICI...

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