REGULATIONS


Moneylife Digital Team 11 November 2024
Market Regulator Securities and Exchange Board of India (SEBI) has levied a penalty of Rs3 lakh on RK Global Shares and Securities Ltd for failing to adhere to essential client fund settlement guidelines.   In an order, Amar Navlan, adjudicating officer (AO) of SEBI, says, "I note that RK...

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Moneylife Digital Team 11 November 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs59.20 lakh on South Indian Bank Ltd for non-compliance with directions issued by RBI on interest rates on deposits and customer service in banks.   After conducting the statutory inspection for supervisory evaluation (ISE 2023), RBI...

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Moneylife Digital Team 08 November 2024
Taking cognizance of complaints filed by Mahua Moitra, a member of Parliament (MP) from Trinamool Congress and two others, the Lokpal has asked Madhabi Puri Buch, chairperson of the Securities & Exchange Board of India (SEBI) to respond to complaints of financial irregularities filed against...

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Moneylife Digital Team 08 November 2024
Market regulator Securities & Exchange Board of India (SEBI) has ordered the suspension with immediate effect of Aravind Maiya, chief executive officer (CEO) of Embassy REIT's (real estate investment trust's) manager Embassy Office Parks Management Services Pvt Ltd, and his appointment as an...

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Moneylife Digital Team 08 November 2024
The Insolvency and Bankruptcy Board of India (IBBI) has proposed reforms to streamline the insolvency process for real estate companies and enhance protection for stakeholders. The seven proposals on which IBBI is seeking public comments include one that allows the handover of the ownership of...

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Moneylife Digital Team 08 November 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs9.25 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs5 lakh has been imposed on Karnataka-based Shree Mahabaleshwar Cooperative Bank Ltd.   Other banks...

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Moneylife Digital Team 07 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed penalties of Rs20 lakh on four entities found guilty of engaging in non-genuine trading activities within the illiquid stock options segment of the Bombay Stock Exchange (BSE). Each implicated entity has been fined Rs5...

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Moneylife Digital Team 06 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has introduced separate disclosure requirements for expenses, half-yearly returns, annualised yields in direct and regular mutual fund (MF) plans, and a colour-coded system for the existing risk-o-meter. These new requirements,...

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Debayan Roy (Bar  and   Bench) 06 November 2024
The Supreme Court on Monday said that a person with a driving licence for light motor vehicles (LMV) is entitled to drive a “transport vehicle of light motor vehicle class” having an unladen weight not exceeding 7,500 kilogram (kg) (M/s Bajaj Alliance General Insurance Co Ltd v. Rambha Devi &...

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Moneylife Digital Team 05 November 2024
Market regulator Securities and Exchange Board of India (SEBI), while confirming its directions in an interim order issued on 1 February 2024, barred Shares Bazaar alternative investment fund (AIF) from raising funds. SEBI found that Shares Bazaar Pvt Ltd (SBPL), a registered stockbroker and...

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Moneylife Digital Team 05 November 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs4.70 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs1.50 lakh has been imposed on Sahyog Urban Cooperative Bank Ltd from Maharashtra and Rander People's...

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Moneylife Digital Team 04 November 2024
Market regulator, Securities & Exchange Board of India (SEBI) has cautioned investors against trading through virtual trading or gaming platforms and asked them to deal only through registered intermediaries.   The advisory statement came after the market regulator noticed that some apps, web...

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Moneylife Digital Team 04 November 2024
United Phosphorus Ltd (UPL) and its chairman Jaidev (Jai) Rajnikant (JR) Shroff paid Rs20.22 crore to settle a case related to fraudulent and unfair trade practices with markets regulator Securities & Exchange Board of India (SEBI). The market regulator investigated UPL and Mr Shroff to...

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Moneylife Digital Team 04 November 2024
Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs8 lakh on 5 Paisa Capital Ltd for not reporting to exchanges six technical glitches, including one that blocked the intraday square-off process during trading hours for clients.    In an order, Barnali Mukherjee,...

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When asked to address serious charges of conflict of interest, by Hindenburg Research and the Congress Party which have made media headlines for the past two months, Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI) dodged an appearance before the...

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Moneylife Digital Team 31 October 2024
When the bureaucrats decide not to understand simple things like a date and a weblink, the common citizen faces a stonewall. Upholding a reply given by the central public information officer of the department of economic affairs (DEA) under the Union ministry of finance (FinMin), the first...

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Moneylife Digital Team 31 October 2024
Updated at 12.45pm on 30 October 2024 to include statement issued by Anant Narayan, WTM, SEBI... Pawan Khera, chairman of the media & publicity department in the All India Congress Committee (AICC), on Tuesday made fresh allegations against Madhabi Puri Buch, chairperson of the Securities and...

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Moneylife Digital Team 31 October 2024
NSE Clearing Corporation Ltd (NCL) paid Rs27.13 crore to settle a case related to alleged non-compliance with the provisions of the interoperability agreement with markets regulator Securities & Exchange Board of India (SEBI). NCL is a wholly-owned subsidiary of the National Stock Exchange...

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Moneylife Digital Team 31 October 2024
Market regulator Securities and Exchange Board of India (SEBI) has ordered Geoshine Mines 2 Metals Ltd (GM2ML), the company directors to jointly and severally refund Rs71.55 lakh, the money collected from investors through the issuance of redeemable preference shares (RPS) in FY12-13. While...

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Moneylife Digital Team 31 October 2024
Market Regulator Securities and Exchange Board of India (SEBI) imposed a penalty of Rs50 lakh on Sunil Arjan Lulla, managing director (MD) of Eros International Media Ltd, due to his alleged failure to comply with the mandated resignation. Last year in June, SEBI ordered Mr Lulla to resign and...

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