REGULATIONS


Moneylife Digital Team 16 January 2025
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs17 lakh on Parag Salot, a registered research analyst (RA), for multiple regulatory violations, including mandatory annual audits for eight financial years.    In an order, Asha Shetty, adjudicating...

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Moneylife Digital Team 15 January 2025
Market regulator Securities and Exchange Board of India (SEBI) has proposed mandating listed companies to issue securities only in demat form following a stock split, consolidation of face value of shares and merger or demerger. This will encourage demat holding of securities, the market...

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Moneylife Digital Team 15 January 2025
A few days ahead of Donald Trump's inauguration as the 47th US president, the Securities and Exchange Commission (SEC) has filed a lawsuit against billionaire Elon Musk over an alleged securities violation relating to his acquisition of Twitter (now called X) in 2022. According to the SEC, Mr...

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Moneylife Digital Team 15 January 2025
The Reserve Bank of India (RBI) has cancelled the certificates of registration (CoR) of 10 non-banking financial companies (NBFCs) based in West Bengal, citing supervisory concerns.   The companies affected by this action include East India Leasing Company Ltd, Kakrania Trading Pvt Ltd,...

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Moneylife Digital Team 14 January 2025
As many as seven non-banking financial companies (NBFCs) have surrendered their certificates of registration (CoR) to the Reserve Bank of India (RBI). Of these, four have chosen to exit the NBFC business entirely. According to RBI, two NBFCs ceased operations due to corporate actions such as...

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Moneylife Digital Team 14 January 2025
Reserve Bank of India (RBI) has imposed penalties of Rs3.75 lakh on five cooperative banks from Tamil Nadu for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2 lakh has been imposed on Kamaraj Cooperative Town Bank Ltd.   The other cooperative...

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Moneylife Digital Team 14 January 2025
In cases where the sale deed requires registration, ownership does not pass until the deed is registered, even if possession is transferred and consideration is paid without the registration, reiterated the Supreme Court. Further, it held that a public auction cannot be set aside until there is...

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Moneylife Digital Team 14 January 2025
Market regulator Securities and Exchange Board of India (SEBI) proposed increasing the investment threshold set for granular disclosures about investors by foreign portfolio investors (FPIs) holding any ownership or economic interest to Rs50,000 crore from Rs25,000 crore.    Currently, some...

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Mohsin Dar (Bar  and   Bench) 13 January 2025
The Supreme Court recently dismissed a public interest litigation (PIL) petition alleging that the Reserve Bank of India (RBI) exchanged currency notes worth Rs30 crore that were defaced by a Kashmiri separatist group in 2013 (Satish Bhardwaj V/s Union of India).   A Bench comprising Justices...

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Moneylife Digital Team 13 January 2025
Market regulator Securities and Exchange Board of India (SEBI) has outlined a procedure for seeking a waiver or reduction of interest in recovery proceedings initiated due to non-payment of penalties.     As per SEBI’s guidelines, applicants must submit their requests for waiver or reduction...

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Moneylife Digital Team 13 January 2025
To enhance transparency and minimise unclaimed assets in the securities market, the Securities and Exchange Board of India (SEBI) has issued guidelines to revamp the nomination process for mutual fund folios and demat accounts. It includes allowing investors to nominate up to 10 persons in the...

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Moneylife Digital Team 13 January 2025
Bombay Burmah Trading Corporation, along with its promoters Nusli Wadia and his sons Ness Wadia and Jehangir Wadia, as well as 14 others, have settled regulatory proceedings with the Securities and Exchange Board of India (SEBI) by paying a settlement amount of Rs2.13 crore.     The other...

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At a time when the Securities and Exchange Board of India (SEBI) has itself come under a cloud, an ex-parte order, issued on 2nd January against Ketan Parekh (KP) and 21 associates, makes for fascinating reading.    SEBI’s meticulous investigation (read: Ketan Parekh, 21 Others Caught in...

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Moneylife Digital Team 10 January 2025
The Reserve Bank of India (RBI) has cancelled the certificates of registration (CoR) of 10 non-banking financial companies (NBFCs) based in West Bengal, citing supervisory concerns.     The companies affected by this action include Adhay Equi Pref Pvt Ltd, Agarani Credit and Finvest Pvt Ltd,...

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Moneylife Digital Team 10 January 2025
Reserve Bank of India (RBI) has imposed penalties of Rs19.50 lakh on four cooperative Banks and a non-banking financial company (NBFC) for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs17.50 lakh has been imposed on Janata Sahakari Bank Ltd from...

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Moneylife Digital Team 09 January 2025
The Securities and Exchange Board of India (SEBI) has introduced comprehensive updates to the regulatory frameworks governing research analysts (RAs) and investment advisers (IAs). These amendments, effective 16 December 2024, aim to enhance transparency, ensure better compliance and provide...

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Moneylife Digital Team 08 January 2025
Deven Sangoi, a seasoned asset management professional, and his sister, Meghana Gosar, have paid Rs91 lakh and agreed to a six-month debarment from markets to settle a case of front-running with market regulator Securities and Exchange Board of India (SEBI). Ms Gosar also agreed to disgorge...

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Moneylife Digital Team 08 January 2025
While revising its master directions for regulated entities (REs) on credit information reporting, the Reserve Bank of India (RBI) has asked credit information companies (CICs) to send alert to customers when their credit information report (CIR) is accessed by the specified users (SUs)....

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SN Thyagarajan (Bar  and   Bench) 08 January 2025
The Delhi High Court on Tuesday held that the Central Information Commission (CIC) cannot ask the Telecom Regulatory Authority of India (TRAI) to requisition information on subscribers from Telecom Service Providers (TSPs) under the Right To Information Act (RTI). (TRAI v. Akshay Kumar...

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Moneylife Digital Team 07 January 2025
ICICI Securities Ltd paid Rs40.2 lakh to settle a case of violation of stockbroker rules with market regulator Securities and Exchange Board of India (SEBI). SEBI issued the order after ICICI Securities proposed to settle the matter without admitting or denying the facts and conclusions of law,...

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