REGULATIONS


Moneylife Digital Team 17 October 2024
To boost operational efficiency and respond to concerns raised by foreign portfolio investors (FPIs), market regulator Securities and Exchange Board of India (SEBI) has introduced measures to speed up the availability of sale proceeds for such investors, bringing them on par with domestic...

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Moneylife Digital Team 16 October 2024
Orbis Financial Corporation Ltd, a custodian, has paid Rs1.59 crore to settle issues that came up during an inspection conducted by market regulator Securities and Exchange Board of India (SEBI).    In an order, Amar Navlani, adjudicating officer (AO) of SEBI, passed the settlement order...

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Moneylife Digital Team 16 October 2024
Reserve Bank of India (RBI) has cancelled the registration certificates (CoRs) of two non-banking financial companies (NBFCs), one from Jammu & Kashmir (J&K) and the other from Uttar Pradesh (UP). Separately, seven NBFCs have surrendered their registration certificates for reasons such as...

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Moneylife Digital Team 15 October 2024
Intensifying its crackdown on auditing malpractices related to Coffee Day Enterprises Ltd (CDEL) and its subsidiaries, the national financial reporting authority (NFRA) has imposed a penalty of Rs2 crore on Venkatesh & Co, Rs10 lakh on chartered accountant (CA) Dasaraty V and Rs5 lakh on CA...

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Moneylife Digital Team 15 October 2024
Accepting a request from Zydus Wellness Products Ltd, the Delhi High Court (HC) granted an interim injunction restraining social media influencer Prashant Desai from disparaging videos on the company's trademark Complan and Complan Pista Badam.    Noting that Mr Desai, an influencer, uploaded...

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Moneylife Digital Team 15 October 2024
Reserve Bank of India (RBI) has imposed penalties of Rs46.05 lakh on a non-banking financial company (NBFC) and four cooperative banks for failing to comply with the directions issued by the banking regulator. The highest penalty of Rs28.30 lakh was levied against SG Finserve Ltd, an...

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Moneylife Digital Team 14 October 2024
Market Regulator Securities and Exchange Board of India (SEBI) has barred Cressanda Railway Solutions Ltd and several of its directors and key management personnel (KMPs) from accessing the market due to allegations of financial manipulation, including engaging in bogus sales and reporting...

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Chandramouli Mohan 11 October 2024
When was the last time you were hit with a late fee and thought, “Well, this seems fair”? Suppose you missed a loan payment or delayed submitting financial documents to your bank. In that case, you probably know the pain of penal interest—a little extra interest banks used to slap on for your...

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Moneylife Digital Team 11 October 2024
Market regulator Securities and Exchange Board of India (SEBI) extended the deadline to implement guidelines mandating the direct payout of securities to clients' demat accounts to 11th November from 14 October 2024. SEBI also revised the timing of the payout of securities to 3:30pm from 1:30pm...

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Moneylife Digital Team 11 October 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs9 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs5 lakh has been imposed on Himachal Pradesh-based Parwanoo Urban Cooperative Bank Ltd.   Other banks...

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Moneylife Digital Team 11 October 2024
Reserve Bank of India (RBI) has directed asset reconstruction companies (ARCs) to become members of all four credit information companies (CICs) and submit the requisite data to them in the prescribed format. It is being done to maintain track of borrowers' credit history after the transfer of...

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Moneylife Digital Team 10 October 2024
A Securities and Exchange Board of India (SEBI) special court has rejected a plea filed by tainted stockbroker Ketan Parekh, the prime accused in the securities scam of 2000-2001, for the closure of a case initiated against him by the market regulator for not paying a penalty imposed. The court...

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Moneylife Digital Team 10 October 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 lakh on Choice Equity Broking Pvt Ltd for violations committed by the brokerage and its authorised persons (APs).   In an order, Amar Navlani, adjudicating officer (AO) of SEBI, says, "I note that...

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Moneylife Digital Team 09 October 2024
The monetary policy committee (MPC) of Reserve Bank of India (RBI), for the 10th consecutive time, decided to maintain the status quo on the repo rate, the central bank's rate for short-term loans to banks, unchanged at 6.5%. Consequently, the standing deposit facility (SDF) rate remains...

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Moneylife Digital Team 09 October 2024
The revised equity index derivatives framework announced by the Securities and Exchange Board of India (SEBI) last week is expected to hit transaction volumes in the futures and options (F&O) segment of stock exchanges, ultimately impacting the revenue and profitability of brokers, says a...

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Moneylife Digital Team 09 October 2024
To prevent the circumvention of various laws and ensure compliance with regulatory frameworks, market Regulator Securities and Exchange Board of India (SEBI) has directed alternative investment funds (AIFs) and their managers to exercise specific due diligence on their investors and...

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Financial fraud can be classified into a few conventional models.    The one prevalent in the days when the stock market valuation was not the driving reason and when the tax rates were high was inflating the expenses and/or understating the sales.   The owners would sponge out the money by...

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Moneylife Digital Team 08 October 2024
The Securities and Exchange Board of India (SEBI) has granted approval for the initial public offering (IPO) of National Securities Depository Ltd (NSDL), the country's largest depository.   NSDL IPO will be structured as a pure offer for sale (OFS), involving the divestment of 57.3mn...

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Moneylife Digital Team 08 October 2024
In a tough and straight-talking speech, Ajay Bhushan Pandey, chairman of national financial reporting authority (NFRA) gave a clarion call to chartered accountants (CAs) to adopt global auditing standards, says a report from Taxsutra.     Addressing a webinar hosted by NFRA, Mr Pandey says,...

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Moneylife Digital Team 08 October 2024
Amidst rising complaints and share price drops, Ola Electric Mobility Ltd has received a show-cause notice (SCN) from the central consumer protection authority (CCPA) due to increased consumer complaints. The SCN cites alleged violations of consumer rights, misleading advertising and unfair...

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