REGULATIONS


IANS 28 August 2023
Public sector undertakings (PSUs) that have been fined by stock exchanges have told them that the appointment of directors lies beyond their control and is vested with the government.   "It is stated that ONGC, being a government company, power of appointment of Director (including...

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Moneylife Digital Team 28 August 2023
Coming down heavily on the Securities and Exchange Board of India (SEBI) for disposing of a complaint summarily without carrying out an investigation, the Securities Appellate Tribunal (SAT) imposed Rs10 lakh cost on the market regulator. SAT also directed SEBI to register the investor...

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Moneylife Digital Team 28 August 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of Rathi Commodities Pvt Ltd for dealing in or facilitating paired contracts on the National Spot Exchange Ltd (NSEL) platform.   In an order, SV Murali Dhar Rao, executive director (ED) of...

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Moneylife Digital Team 28 August 2023
Market regulator Securities and Exchange Board of India (SEBI) has banned Indore-based Bourse India Investment Advisor and its partners for two years for providing investment advisory services without proper registration and offering huge returns on investments. SEBI also asked them to refund...

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Moneylife Digital Team 25 August 2023
Market regulator Securities and Exchange Board of India (SEBI) has submitted a status report before the Supreme Court on its investigation report on the Adani-Hindenburg issue, including alleged stock market manipulation in the scrips of Adani group companies.    The market regulator...

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Moneylife Digital Team 25 August 2023
In a big reprieve to L&T Investment Management Ltd, market regulator Securities and Exchange Board of India (SEBI), disposed adjudication proceedings for not updating research reports regularly or as per the availability of updated financial statements of the investee companies.   In...

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Moneylife Digital Team 25 August 2023
Market regulator Securities and Exchange Board of India (SEBI) has ordered the defreezing of the bank accounts of Santosh Singh Karki, one of the noticees, whose accounts were frozen by SEBI in January 2023 for indulging in price manipulation in the scrip of Superior Finlease Ltd...

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Moneylife Digital Team 25 August 2023
The Reserve Bank of India (RBI) has imposed a Rs36.50 lakh penalty on four cooperative banks and one non-banking financial company (NBFC) for violating various rules and regulations. One bank belongs to West Bengal, while the remaining three banks and the NBFC are from Maharashtra. RBI has...

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Moneylife Digital Team 25 August 2023
Market regulator Securities and Exchange Board of India (SEBI) has banned Magic Mantra and its proprietor VN Aravind from the markets for one year while imposing a penalty of Rs5 lakh for providing advisory services illegally. The illegal advisory is also asked to refund Rs33.67 lakh...

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IANS 24 August 2023
The Reserve Bank of India (RBI) on Thursday raised the transaction limit for small-value digital payments conducted offline to Rs500 per transaction from the earlier Rs200.   "This directive shall come into effect immediately," a notification issued by the central bank...

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Moneylife Digital Team 24 August 2023
Securities and Exchange Board of India (SEBI) has initiated the third tranche for distribution of Rs14.87 crore to 258K (thousand) investors from the disgorged and recovered amount in the matter of initial public offering (IPO) irregularities from 2003 to 2005.   In the current...

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Moneylife Digital Team 23 August 2023
Market regulator Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of Vikson Commodities Pvt Ltd for three months for facilitating the sale of paired contracts on the now-defunct National Spot Exchange (NSEL). Vikson Commodities was a member of Multi...

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IANS 23 August 2023
The national consumer disputes redressal commission (NCDRC) on Wednesday dismissed the appeal by Cloudtail India Pvt Ltd against an order passed by the central consumer protection authority (CCPA).   CCPA had passed an order against Cloudtail for selling domestic pressure cookers to...

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IANS 23 August 2023
Credit reporting agency Experian has been fined US$650,000 by the US regulators for deceptive marketing email practices.   The department of Justice (DoJ) and the Federal Trade Commission (FTC) said that Experian has agreed to a permanent injunction and a US$650,000 civil penalty as...

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Moneylife Digital Team 23 August 2023
After finding that Brightcom Group Ltd (BGL), its promoter, chairman and managing director (CMD) M Suresh Kumar Reddy and chief financial officer (CFO) Narayan Raju were involved in round-tripping of BGL's own funds in a circular fashion to falsely portray receipt of consideration from...

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Moneylife Digital Team 22 August 2023
The antitrust division of the US department of justice (DoJ) has deferred the prosecution agreements resolving criminal antitrust charges against Glenmark Pharmaceuticals Inc, the US arm of the Indian pharma company.   Glenmark Pharmaceuticals has agreed with the DoJ to resolve all of...

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Moneylife Digital Team 22 August 2023
Reserve Bank of India (RBI) has imposed monetary penalties on four cooperative banks citing the violation of different laws prescribed by the regulator. Of these, two banks are from Maharashtra, while others belong to Gujarat, Jammu and Kashmir (J&K). RBI has levied a fine of Rs4 lakh, the...

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IANS 21 August 2023
The Delhi High Court on Monday sought the Centre’s stand on a plea taking objection to the inclusion of chartered accountants (CAs), company secretaries (CSs) and cost accountants within 'reporting entities' under the Prevention of Money Laundering Act (PMLA).   A division bench of...

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IANS 19 August 2023
The Reserve Bank of India (RBI) says that banks cannot use penalties imposed on loan defaulters for raising funds.   The central bank has modified norms related to loan accounts to ensure this.   RBI said banks must treat penalty for non-compliance as ‘penal charges’ and it...

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Is a social media influencer’s opinion genuine or paid for? This question has become increasingly difficult to answer, resulting in widespread suspicion about genuine posts as well. On the one hand, there are people who blindly trust influencers and celebrities, only to be misled by fake or...

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