REGULATIONS


Market regulator, the Securities and Exchange Board of India (SEBI) has cancelled the Certificate of Registration of Karvy Stock Broking (KSBL).   SEBI had received a preliminary report dated November 22, 2019, from NSE, containing its observations of the inspection of...

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In response to the importance of swift disembarkation during emergencies, the Directorate General of Civil Aviation (DGCA) has directed airline operators to incorporate comprehensive protocols in their operations, safety, and emergency procedures manual.   A circular has been issued...

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Moneylife Digital Team 01 June 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs30 lakh on Indore-based CapitalVia Global Research Ltd and two directors, Kiran Ravindra Kumar Choudhary and Rohit Gadia for charging exorbitant fees from clients for investment products or services without...

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I wrote last week that the Supreme Court (SC)-appointed expert committee on the Adani-Hindenburg Research saga had ended up making a powerful legal case for why the Securities & Exchange Board of India (SEBI) would draw a blank (Adani Stock Saga: Clean Chit by SC Committee Raises Questions &...

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Moneylife Digital Team 31 May 2023
Amidst the Adani-Hindenburg row, market regulator Securities and Exchange Board of India (SEBI) has issued a consultation paper seeking enhanced transparency measures for foreign portfolio investors (FPI).    The SEBI paper seeks to enhance trust in the Indian securities markets by...

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Moneylife Digital Team 31 May 2023
In a significant setback to billionaire Anil Agarwal-led Vedanta group, the Indian government is likely to deny funding crucial for its joint venture (JV) plan with Taiwan's Hon Hai Precision Industry (Foxconn) to manufacture chips in the country, says a report from...

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Moneylife Digital Team 31 May 2023
The Maharashtra government has announced a 50% concession in floor space index (FSI) premium for cluster redevelopment schemes under regulation 33(9) of development control and promotional regulations (DCPR) in Mumbai for one year, following demands from developers’ associations. This move is...

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Moneylife Digital Team 31 May 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of over Rs1 crore on two promoters of Educomp Solutions Ltd (ESL) and executive directors (EDs) for adopting a fraudulent scheme to hide the company's true financial position from shareholders by treating its...

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Moneylife Digital Team 31 May 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of Siddhi Vinayak Commodities Pvt Ltd for failing in 'fit and proper person' criteria of SEBI.    In an order, Anand Baiwar, executive director (ED) of SEBI says, "I hold that Siddhi Vinayak...

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Arun Kumar (The Leaflet) 30 May 2023
It is the process of black income generation that needs to be taken out, not high-denomination currency notes.   —   The Reserve Bank of India’s (RBI) announcement of withdrawal from circulation of the Rs2,000 currency notes has caused much incredulity. Tamil Nadu Chief...

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Moneylife Digital Team 30 May 2023
Markets regulator Securities and Exchange Board of India (SEBI) slapped a fine of Rs15 lakh on Alchemist Infra Realty Ltd's former director Balvir Singh for illegally mobilising funds from the public through a collective investment scheme (CIS). Mr Singh has already been restricted from...

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Moneylife Digital Team 30 May 2023
The Reserve Bank of India (RBI) has imposed Rs1 lakh penalty on Ichalkaranji, Maharashtra-based Kohinoor Sahakari Bank Ltd, for non-compliance with certain rules related to investments by primary (urban) cooperative banks.   RBI had conducted a statutory inspection for supervisory...

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The Central Bureau of Investigation (CBI) has registered a case against British aerospace company, Rolls Royce India Pvt Ltd, along with its director Tim Jones, and private individuals Sudhir Choudhrie and Bhanu Choudhrie, along with unidentified public servants and private...

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Moneylife Digital Team 29 May 2023
Reserve Bank of India (RBI) imposed a penalty of Rs84.50 lakh on Central Bank of India for non-compliance with certain provisions of norms related to fraud classification and reporting.   RBI had conducted a statutory inspection for supervisory evaluation of Central Bank with...

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Moneylife Digital Team 29 May 2023
While calling directors to ensure the integrity of financial statements published by the bank, Shaktikanta Das, governor of the Reserve Bank of India (RBI), also warned lenders to refrain from adopting so-called smart accounting methods to artificially boost the bank's financial...

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At least 48 US states have sued a telecom company called Avid Telecom for allegedly routing 7.5 billion illegal and spoofed robocalls to millions of residents on the 'Do Not Call Registry'.   The lawsuit was filed in US District Court for the District of Arizona against Avid Telecom,...

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The Delhi High Court on Monday dismissed a plea challenging the Reserve Bank of India (RBI) and State Bank of India (SBI) notifications, that permit exchange of notes without any identity proof.   A division bench of chief justice Satish Chandra Sharma and justice Subramonium Prasad...

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The year was 1993; I was working at CRISIL Ltd. That year, we saw quite a few interesting ‘structured’ obligations that had come to us for rating. One, that was my favourite, was this:   Lokhandwala Construction Industries Ltd (LCIL), a reputed builder, announced a large housing project...

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Moneylife Digital Team 29 May 2023
As many as 19 non-banking financial companies (NBFCs) have surrendered their certificate of registration (CoR) to the Reserve Bank of India (RBI), of which 13 have decided to exit the NBFC business altogether. Separately, RBI cancelled the licence of New Link Overseas Finance Ltd, a non-bank...

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Moneylife Digital Team 26 May 2023
PR Sundar and Mangayarkarasi Sundar, the proprietors of Mansun Consultancy Pvt Ltd, agreed to disgorge Rs6.07 crore, including 12% interest per annum (pa) and pay Rs46.80 lakh, to settle a case with the Securities and Exchange Board of India (SEBI) for running an investment advisory...

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