REGULATIONS


Moneylife Digital Team 12 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs20 lakh on Bharosa Technoserve Pvt Ltd (BTPL) and its key individuals, including Sanjay Bhargava, Sahil Bhargava and Anita Bhargava for failing to adhere to Investment Adviser (IA) Regulations.   In an...

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Moneylife Digital Team 12 September 2024
Continuing with its action against spammers, the department of telecommunications (DoT) and the telecom regulatory authority of India (TRAI), through the Sanchar Saathi portal, have disconnected 350,000 numbers and  blacklisted 50 entities. In addition, around 350,000 unused and unverified SMS...

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Moneylife Digital Team 11 September 2024
While asking the automobile industry to help the Union government in designing the programme of trustworthy pollution checks, Anurag Jain, secretary in the ministry of road transport & highways (MoRTH), says the government is working on a policy that seeks to link vehicle scrapping to their...

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Moneylife Digital Team 11 September 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs1.91 crore on Axis Bank Ltd for contravention of provisions of section 19 (1) (a) of the Banking Regulation Act (BR Act) and non-compliance with directions on the interest rate on deposits, know-your-customer (KYC) norms and credit flow...

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Moneylife Digital Team 10 September 2024
Contrary to a claim by Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), the Congress party alleged that, as of March 2024, she owned a 99% stake in Agora Advisory Pvt Ltd and had received Rs2.95 crore from FY16-17 till FY23-24, except for two years. Agora...

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Moneylife Digital Team 10 September 2024
After finding procedural errors, the Supreme Court set aside the Rs80 lakh penalty imposed by the Bombay High Court (HC) on Securities and Exchange Board of India (SEBI), Bombay Stock Exchange Ltd (BSE) and National Stock Exchange Ltd (NSE) for freezing of demat accounts of two investors. The...

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Moneylife Digital Team 10 September 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs1 crore on HDFC Bank Ltd for failing to follow guidelines on interest rates on deposits, the use of recovery agents, customer service standards in banks and the management of risks and code of conduct for outsourcing financial...

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Moneylife Digital Team 10 September 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs10.50 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs4.50 lakh has been imposed on Samarth Sahakari Bank Ltd from Maharashtra.   Other banks penalised by RBI...

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Moneylife Digital Team 09 September 2024
Levelling more conflict of interest allegations against Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), the Congress claimed that she received rental income from Carol Info Services Ltd, a company affiliated with Wockhardt Ltd, that the market regulator...

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Moneylife Digital Team 09 September 2024
Reserve Bank of India (RBI) has imposed penalties worth Rs13.50 lakh on three housing finance companies (HFCs) for non-compliance with the directions issued by the banking regulator. The HFCs penalised by RBI are Godrej Housing Finance Ltd, Aadhar Housing Finance Ltd and Housing and Urban...

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With ICICI Bank Ltd issuing some clarification on 2 September 2024, in the light of a political storm brewing in the context of the allegations made against the chairperson of Securities and Exchange Board of India (SEBI), it is difficult not to get piqued by a curiosity to find out what has...

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Moneylife Digital Team 06 September 2024
About 200 employees of Securities and Exchange Board of India (SEBI) on Thursday held a protest at the market regulator's headquarters at Bandra Kurla Complex (BKC) in Mumbai seeking the resignation of SEBI chairperson Madhabi Puri Buch. These employees also agitated against a statement...

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Moneylife Digital Team 06 September 2024
Recent developments at Silverline Technologies Ltd (Silverline), one of stocks manipulated during the scam of 2001 have raised concerns about corporate governance, regulatory filing, delay in reporting the death of the company's founder and chairman and raising Rs98 crore through a preferential...

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Ayesha Arvind (Bar  and   Bench) 06 September 2024
The National Company Law Appellate Tribunal (NCLAT) at Chennai on Friday temporarily halted the recent acquisition of power generating company Coastal Energen by a consortium led by Adani Power.   A coram of judicial member Justice Sharad Kumar Sharma and technical member Jatindranath Swain...

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Moneylife Digital Team 05 September 2024
Amid reports of a toxic work environment, market regulator Securities and Exchange Board of India (SEBI) says the allegations of unprofessional work culture in its offices are 'misplaced' and these claims are not endorsed by any of its employee associations. Moneylife is one of the publications...

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Moneylife Digital Team 03 September 2024
Reserve Bank of India (RBI) has imposed a total penalty of Rs1.25 lakh on Kolkata-based Durgapur Mahila Cooperative Bank and Tamil Nadu-based RAR Fincare Limited a non-banking financial company (NBFC) for non-compliance with the directions issued by the banking regulator.   Durgapur Mahila...

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Moneylife Digital Team 02 September 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs2.70 crore on UCO Bank and Cent Bank Home Finance Limited for violating various rules and regulations prescribed by the regulator. The highest penalty of Rs2.68 crore has been imposed on UCO Bank.   UCO Bank has been penalised for...

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Moneylife Digital Team 02 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs3 lakh on Jainam Broking Ltd for failing to comply with the know-your-client (KYC) regulations mandated by the prevention of money-laundering (PML) (maintenance of records) rules, PML rules and SEBI...

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Moneylife Digital Team 02 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has slapped a penalty of Rs2 Lakh on a group of nine entities associated with Akshar Spintex Ltd for failing to adhere to disclosure norms. The penalty is a result of their non-compliance with Regulation 29(2) and 29(3) of the SEBI...

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Moneylife Digital Team 02 September 2024
Market regulator, Securities and Exchange Board of India (SEBI) has imposed a penalty totaling Rs1.56 crore on 36 entities involved in manipulative trading practices related to illiquid NIFTY index option contracts. This penalty was issued following a comprehensive 330-page order that...

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