REGULATIONS


Moneylife Digital Team 27 September 2024
In an unprecedented move, the public accounts committee (PAC) of Parliament has asked for a detailed review of the Securities and Exchange Board of India (SEBI)'s accounts for financial years (FY)22-23 and FY23-24, says a report from Moneycontrol.com.   This is the first time that the PAC,...

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Moneylife Digital Team 27 September 2024
Securities and Exchange Board of India (SEBI) has fined Kolkata-based GRD Securities Ltd Rs9 lakh for regulatory violations. These violations include improper segregation of client funds and securities and failure to comply with monthly and quarterly settlements of funds and securities by GRD...

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Sahyaja MS (Bar  and   Bench) 27 September 2024
In a relief to creditor classes with large numbers such as homebuyers, the Insolvency and Bankruptcy Board of India (IBBI) announced significant amendments to the Insolvency Resolution Process for Corporate Persons Regulations, 2016.   These amendments, effective from 24 September 2024, are...

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Moneylife Digital Team 26 September 2024
Market regulator Securities and Exchange Board of India (SEBI) says that, over the next five years, the market ecosystem could save an estimated Rs200 crore by using the new standardised file formats, termed 'unified distilled file formats' (UDiFF), that will enhance efficiency, productivity...

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Moneylife Digital Team 26 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has decided to reduce the timeline for listing of debt securities and non-convertible redeemable preference shares (NCRPS) to trading (T)+3 working days from existing T+6 working days as an option to issuers for one year and on a...

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Moneylife Digital Team 26 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has ordered Vaishno Devi Dairy Products Ltd (VDDPL) and six of its directors to refund the money which it had raised illegally from investors and also barred them from the securities market between three months to four years. These...

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Debayan Roy (Bar  and   Bench) 25 September 2024
The Supreme Court on Wednesday expressed doubts over whether the National Company Law Appellate Tribunal (NCLAT) had applied its mind while deciding to close insolvency proceedings against ed-tech firm Byju's (Glas Trust Company LLC v. Byju Raveendran and ors).   The Court indicated that it...

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Moneylife Digital Team 25 September 2024
Market regulator Securities and Exchange Board of India (SEBI) penalised Rs9 lakh on BGR Energy Systems Ltd (BGR) for disclosure lapses to the stock exchanges and flouting market norms.   In his 36-page adjudication order, Barnali Mukherjee, adjudicating officer (AO) of SEBI, says, "It is...

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Moneylife Digital Team 24 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1 crore on Jai Anmol Ambani, son of industrialist Anil Ambani, for his failure to exercise due diligence while approving general-purpose corporate loans in the Reliance Home Finance Ltd (RHFL) matter. SEBI...

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Moneylife Digital Team 24 September 2024
Markets regulator Securities and Exchange Board of India (SEBI) has slapped a penalty of Rs8 lakh on Brightcom Group Ltd for failing to make timely disclosures to stock exchanges.   In an order, Barnali Mukherjee, adjudicating officer (AO) of SEBI, says, "It is observed that securities...

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Moneylife Digital Team 23 September 2024
While deciding on two complaints filed by different individuals based on a report by US-based short-seller Hindenburg Research, anti-corruption ombudsman Lokpal says the complaints alleging impropriety and conflict of interest against Madhabi Puri Buch, chairperson of the Securities & Exchange...

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Moneylife Digital Team 23 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has barred Madhav Tiwari (noticee), proprietor of Divinecommodity.co, for two years for providing unregistered investment advisory services. While imposing a fine of Rs6 lakh, SEBI also asked Mr Tiwari to refund Rs1.70 crore...

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Moneylife Digital Team 23 September 2024
Marker Regulator Securities and Exchange Board of India (SEBI) has imposed a two-year ban on Priyank Dineshbhai Shah, compliance officer of Eqwires Research Analyst, for providing illegal investment advisory services. In addition to a fine of Rs6 lakh, SEBI has ordered Mr Shah and Kota Sunil...

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Moneylife Digital Team 23 September 2024
Market regulator Securities and Exchange Board of India (SEBI) imposed a penalty of Rs2 lakh on Horizon Portfolio Ltd, a stockbroker, for failing to seek prior approval from the market regulator before effectuating changes in its control on two separate occasions.   In an order, Barnali...

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On 13th September, media headlines said that the market regulator had completely exonerated the former management of the National Stock Exchange (NSE) in the co-location (Colo) scam of 2015.  Some speculated that this had cleared the path for a  listing of the National Stock Exchange (NSE)...

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Moneylife Digital Team 20 September 2024
Except for the dates of appointment, market regulator Securities & Exchange Board of India (SEBI) does not have any information readily available on its chairperson Madhabi Puri Buch's appointment, her application for the post, declaration of assets and cases where she had recused herself due...

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Moneylife Digital Team 20 September 2024
Holding HDFC Bank Ltd responsible for deficiency in service by keeping a hold on funds of a customer's savings account that resulted in bouncing his instalment of car loan, the national consumer disputes redressal commission (NCDRC) directed the lender to pay Rs50,000 compensation for mental...

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Accounting firms coming under the hammer of the regulators and being fined bigger and bigger sums for failing to do their principal duty of reporting to the shareholders the frauds and fissures in the financial statements is ceasing to cause any greater alarm than the routine reporting of road...

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In the Indian context, the record of the audit in situations where it ought to have shown its utility, if not the vitality, can be assessed by looking at the data and examples coming out of the IBC (Insolvency and Bankruptcy Code) process.   Though any audit report is addressed only to the...

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Moneylife Digital Team 20 September 2024
Amidst the concerns about communication devices, after the waves of remotely triggered explosions that hit pagers and walkie-talkies of Hezbollah members in Lebanon, the Bombay Telephone Users Association (BTUA) has asked the telecom regulatory authority of India (TRAI) to adopt additional...

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