REGULATIONS


Strapline: Political parties defying summons by CIC, a headless information commission and much more meant a low year for this otherwise strong transparency law in 2014.   If 2014 was the triumph of the BJP which brought it to power with a thumping majority, it was also the year when...

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Moneylife Digital Team 30 December 2014
According to SEBI, municipal bonds would add to instruments where provident funds, pension funds and insurance companies can also invest   Market regulator Securities and Exchange Board of India (SEBI) Tuesday proposed a new set of norms for listing and trading of municipal bonds on...

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Moneylife Digital Team 30 December 2014
The UPA government had cut excise duty on the auto industry to help growth. The tax holiday was extended past its first expiry on June 30, till December 31 by the Modi government.   Cars, SUVs and two-wheelers will become expensive from 1 January with the government deciding not to...

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Moneylife Digital Team 30 December 2014
It is not the duty of a cooperative housing society or CHS to remove illegally parked vehicle from its approach road. Traffic police must prevent illegal parking on roads so as to allow fire fighting vehicles reaching the spot in case of emergency, the Bombay High Court said   The...

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Moneylife Digital Team 29 December 2014
Unable to legislate in the Rajya Sabha due to insufficient numbers, the Modi government has passed an ordinance to pass another important reform   The Cabinet approved an ordinance to amend the land acquisition act here on Monday, the Finance Minister Arun Jaitley told reporters at a...

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Moneylife Digital Team 24 December 2014
Wasankar Wealth Management has been restrained from buying, selling or dealing in the securities market, either directly or indirectly or in any manner, according to a SEBI Order   Wasankar Wealth Management Limited, having Trade name – Wasankar Investments, and Vinay Wasankar,...

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With amendments to the Companies Act 2013, the present government seems to be moving quickly to address past mistakes in legislation. But has it done a thorough job?   One area where the Modi government seems to be moving swiftly and silently is to fix bad laws that were written by...

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Moneylife Digital Team 23 December 2014
The firms against whom SEBI passed orders, were found to be engaged in fund-raising activity that was classified as Collective Investment Scheme, but did not have required clearances from the regulator   In the month of December itself, the Securities and Exchange Board of India took...

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Moneylife Digital Team 22 December 2014
SEBI, has passed an order under the SEBI Act, 1992 read with Regulation 65 of the SEBI (Collective Investment Scheme) Regulations, 1999 in the matter of MVL Limited   “MVL Limited shall abstain from collecting any money from the investors or launch or carry out any Collective...

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Moneylife Digital Team 20 December 2014
In view of the lapses and deficiencies observed by SEBI in its inspection of Indiabulls Securities, it had issued a show cause notice to the broking company   SEBI conducted an inspection of books and accounts and other records of Indiabulls Securities during November 2006. The...

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Moneylife Digital Team 19 December 2014
The civil imprisonment of Mr Hingorani was ordered by SEBI in its authority as Recovery Officer, for failing to pay fines due to SEBI   The Securities and Exchange Board of India (SEBI) ordered the civil imprisonment of Vinod Hingorani in connection with non-payment of fines related...

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Moneylife Digital Team 18 December 2014
KEN Infratech was engaged in fund mobilising activity from public by floating/sponsoring/ launching Collective Investment Scheme (CIS) as defined in section 11AA of the SEBI Act, 1992   The SEBI Order on KEN Infratech directed the company and its directors not to collect any money...

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Moneylife Digital Team 18 December 2014
SEBI, says a media report, is pursuing schemes to turn black money into white, something that Moneylife has been persistently pointing out for five years at least   Market regulator Securities and Exchange Board of India (SEBI) is reportedly probing several small companies listed on...

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Moneylife Digital Team 18 December 2014
Reserve Bank of India has imposed monetary penalty on ICICI Bank and Bank of Baroda for violation of its instructions on KYC   RBI (Reserve Bank of India) imposed a penalty of Rs50 lakh on ICICI Bank and Rs25 lakh on Bank of Baroda for violation of KYC (Know Your Customer) norms after...

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Moneylife Digital Team 17 December 2014
Skylark Land Developers and Infrastructure India had launched Collective Investment Schemes without obtaining certificate of registration from SEBI   Skylark Land Developers and Infrastructure India Limited having its registered office at Gwalior, Madhya Pradesh has been directed not...

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Moneylife Digital Team 17 December 2014
The amended Companies Act provides for severe punishment for those raising illegal deposits from the public   The Lok Sabha on Wednesday passed the amended Companies Act that prescribes specific punishment for those who raise deposits illegally from the public. The amendments to...

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Moneylife Digital Team 17 December 2014
Blessing Agro Farm India was found collecting funds from the "customers/ investors” for its land schemes, prima-facie violating the provisions of the SEBI Act and SEBI (Collective Investment Schemes) Regulations, 1999   A SEBI order today restrained Blessing Agro Farm India from...

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Moneylife Digital Team 17 December 2014
CVC appointment process to continue under SC supervision, while the PIL against the appointment process is decided   The Supreme Court today directed the Centre to submit a list of 15 names of candidates for the post of the Chief Vigilance Commissioner (CVC), by 15 January 2015. The...

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Will they be used for investors’ benefit?   To make its two-decade old regulation on insider trading more effective, market regulator Securities and Exchange Board of India (SEBI) constituted a committee under chairmanship Justice NK Sodhi, former presiding officer of securities...

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Moneylife Digital Team 15 December 2014
The Union Cabinet has cleared changes in the Act. Union Power Minister Piyush Goyal earlier this week said the Bill would be tabled in Parliament soon   The amendments to the Electricity Act are likely to change the business dynamics for power distribution companies...

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