REGULATIONS


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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Ranganathan V Ranganathan V 28 January 2023
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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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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Moneylife Digital Team 24 January 2023
Aviation regulator DGCA (director general of civil aviation) imposed a financial penalty of Rs10 lakh on Air India for not reporting the incidents which occurred on AI-142 Paris-New Delhi flight on 6 December 2022.   Two incidents had occurred in the Air India flight. While one...

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Taking cognizance of a complaint, Haryana Real Estate Regulatory Authority (HRERA), Gurugram, on Monday passed an order restraining the Bank of Baroda from proceedings with the e-auction that the bank is set to conduct on January 24 in CHD E-Way Tower at Sector 109, Gurugram.   The...

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Moneylife Digital Team 24 January 2023
While designating sovereign green bonds (SGrBs) as specified securities under fully accessible route (FAR), the Reserve Bank of India (RBI) allowed non-residents to invest in these bonds through the same route without any cap.    In a notification, RBI says, “The government sovereign...

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Moneylife Digital Team 23 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has launched an information database and repository for municipal bonds. The database was released by Ashwini Bhatia, whole-time member (WTM) of SEBI, at a programme held in Delhi.    According to SEBI, its municipal debt...

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Moneylife Digital Team 20 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs16 lakh on Keshav Securities Pvt Ltd for violation of various regulations. The violations include the misuse of clients’ funds and securities, delay in settlement and payment of funds, failure in stock...

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Moneylife Digital Team 20 January 2023
Updated at 3.55pm on 24 January 2023 to clarify that PKF had submitted its final forensic audit report to the company   Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs55 lakh on three directors and three executives, including two chief...

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Sucheta Dalal Sucheta Dalal 20 January 2023
The shameful collusion between creditors and resolution professionals (RPs) to legally hijack valuable corporate assets via the bankruptcy law reaches new lows every day. The most recent case pertains to Hirakud Industrial Works Ltd (Hirakud) which has been thwarted due to the efforts of...

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The markets regulator Securities & Exchange Board of India (SEBI) has served final notices to nine 'missing' entities pertaining to various proceedings the watchdog is conducting against them.   The SEBI has proceeded against these entities -- all are based in north India -- under...

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Aviation regulator DGCA has imposed a fine of Rs 30 lakh on Air India and suspended the License of pilot-in-command for three months in connection with the Air India urination case.   Moreover, the regulator has also imposed a penalty of Rs 3 lakh on Director-in-flight services of Air...

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The markets regulator Securities & Exchange Board of India (SEBI) has carried out nationwide raids targeting front-running carried out by market experts appearing on a business news television channel.   The raids comprising search and seizures were carried out at the homes and...

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