REGULATIONS


Moneylife Digital Team 02 February 2023
Market regulator Securities and Exchange Board of India (SEBI) asked stock exchanges and clearing corporations to implement the framework it prescribed in July 2020 to enable verification of upfront collection of margins from clients in cash and derivatives segments.   In the circular...

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Moneylife Digital Team 01 February 2023
With an aim to simplify know-your-customer (KYC) related procedure for opening bank accounts by foreign portfolio investors (FPIs), the Reserve Bank of India (RBI) has allowed banks to accept KYC done by a custodian or an intermediary regulated by Securities and Exchange Board of India...

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Moneylife Digital Team 01 February 2023
Reserve Bank of India (RBI) has appointed V Ramachandra as member of the advisory committee of Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL). He will be advising the administrator in the operations of the financial service providers during the corporate...

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There was much alarm, surprise and consternation last week when the market regulator, the Securities and Exchange Board of India (SEBI), released a study showing that 90% of active traders dabbling in derivatives such as futures & options (F&O) lost money in FY21-22. Even as more and more...

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IANS 31 January 2023
The Supreme Court on Monday upheld the National Company Law Appellate Tribunal's (NCLAT) order directing the payment of provident fund and gratuity dues of the Jet Airway's former employees.   A bench, headed by Chief Justice D.Y. Chandrachud, said: "Anyone stepping in would know that...

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Moneylife Digital Team 31 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a collective fine of Rs10 lakh on six promoters of JSG Leasing Ltd (JSG).   The investigation by SEBI found that the promoters of JSG Kaminiben Atulbhai Patni, Rakesh Bhailabhai Patel, Riddish Gopal Modi,...

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Moneylife Digital Team 31 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled investment advisory registration of DS Capital Ventures Pvt Ltd for violating rules and regulations. SEBI investigation found that DS Capital committed serious contraventions including not addressing complaints...

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Moneylife Digital Team 31 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled stock broker licenses of Kaynet Finance Ltd and Kaynet Commodities Pvt Ltd. Inquiry by designated authorities had recommended cancellation of the broking license since both the entities are no longer members of any...

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Moneylife Digital Team 28 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has barred 24 entities from the markets for three years for indulging in price manipulation in the shares of Sulabh Engineers and Services Ltd (SESL). In view of the prohibition on the sale of securities, SEBI also clarified that...

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The Securities and Exchange Board of India (SEBI) has sought feedback on complaint handling by market intermediaries (MIs) and market infrastructure institutions (MIIs). The Investor Education and Protection Fund Authority (IEPFA), which impounds unclaimed funds, wants feedback on plans to...

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Moneylife Digital Team 28 January 2023
The Securities Appellate Tribunal (SAT) on Monday decided to set aside some of the orders issued by the Securities and Exchange Board of India (SEBI) against the National Stock Exchange (NSE) in the NSE co-location (Colo) scam of 2015. In its order, SAT has come down heavily on SEBI's...

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Moneylife Digital Team 28 January 2023
Paying heed to issues faced by customers, the Reserve Bank of India (RBI) has decided to extend to 31 December 2023 its deadline for renewal of agreements for existing safe deposit locker or safe custody article facilities provided by banks. RBI also asked banks to make necessary arrangements...

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A news item—which may have been lost in the avalanche of various political, corporate and social fribbles that commonly flood the newspapers—is the announcement by Google that Android users have options to use search engines other than Google and that manufacturers of mobile phones would have...

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IANS 27 January 2023
The directorate general of civil aviation (DGCA) has imposed a fine of Rs10 lakh on Go Air for violation of rules.   On 9th January, a Go Air flight on the Bengaluru-Delhi route took off leaving behind 55 passengers in the passenger coach at the Bengaluru airport.   The...

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Moneylife Digital Team 27 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of Sugal Commodities Brokers Pvt Ltd (SCBPL) for dealing and facilitating the trade of paired contracts on the National Spot Exchange Ltd (NSEL). Earlier this month SEBI had cancelled the...

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Moneylife Digital Team 27 January 2023
Securities and Exchange Board of India (SEBI) has imposed a total fine of Rs30 lakh on Pinnacle Market Investment Advisory Pvt Ltd and Safe Trader Pvt Ltd for violating various rules and regulations. While Pinnacle Market Investment Advisory is fined Rs28 lakh for improper risk profiling, not...

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Moneylife Digital Team 25 January 2023
While imposing a penalty of Rs26 crore, the Securities and Exchange Board of India (SEBI) has asked Coffee Day Enterprises Ltd (CDEL) to appoint an independent law firm to recover its dues worth Rs3,494 crore from the company's subsidiary Mysore Amalgamated Coffee Estates Ltd (MACEL). Out of...

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Moneylife Digital Team 25 January 2023
Securities and Exchange Board of India has banned Agrich Traders and its proprietor Prakash Shyamlal Rathod from the market for six months, for offering investment advisory to investors without obtaining registration from the market regulator.    In an order, SK Mohanty, whole-time...

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Moneylife Digital Team 25 January 2023
Reserve Bank of India (RBI) has imposed monetary penalties on two cooperative banks, one from Gujarat and one from Maharashtra, for non-compliance with various rules prescribed by the central bank. Nutan Nagarik Sahakari Bank Ltd from Ahmedabad is fined Rs26 lakh, while Samarth Sahkar Bank...

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Moneylife Digital Team 24 January 2023
The National Company Law Appellate Tribunal (NCLAT) rejected an application filed by Adisri Commercial Pvt Ltd, a shareholder of Srei Infrastructure Finance Ltd, the holding company of Srei Equipment Finance Ltd. Adisri Commercial has refiled the plea after a delay of 321 days and challenged...

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