REGULATIONS


Moneylife Digital Team 03 May 2022
Nine entities in the scrip of Ruchi Soya Industries Ltd, that were found indulging in fraudulent trade practices about 10 years ago, have been slapped with a total penalty of Rs25 lakh by market regulator Securities and Exchange Board of India (SEBI). Last year, SEBI's whole-time member (WTM)...

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Moneylife Digital Team 03 May 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a Rs6 lakh penalty on Pace Stock Broking Services for flouting norms related to National Stock Exchange (NSE)'s co-location facility.   The order came after SEBI received multiple complaints against the broker,...

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Moneylife Digital Team 02 May 2022
A special central bureau of investigation (CBI) court in New Delhi has reserved its order on the bail plea filed by the National Stock Exchange (NSE)'s former managing director (MD) and chief executive officer (CEO) Chitra Ramkrishna and ex-group operating officer Anand Subramanian in the NSE...

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Sreeram VG (The Leaflet) 02 May 2022
The Insolvency and Bankruptcy Code, 2016, by design, makes the committee of creditors the central decision-making authority in the insolvency process. With the Adjudicating Authority becoming a mute spectator, workers have to fight for their claims with both hands tied behind their...

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Sucheta Dalal Sucheta Dalal 29 April 2022
Mandatory corporate governance rules have not stopped the management of listed companies, public-private partnerships or even first-line regulators from doing what they please. The independence of boards is a sham; directors are usually eager to please management and ignore whistle-blowers,...

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Debashis Basu Debashis Basu 29 April 2022
Last Thursday, the Central Bureau of Investigation (CBI) filed a charge sheet against Chitra Ramkrishna, former chief executive officer (CEO) of the National Stock Exchange (NSE) and Anand Subramanian, former group operating officer (GOO), in connection with the co-location (Colo) fraud case...

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Moneylife Digital Team 29 April 2022
Sunness Capital India Pvt Ltd (Sunness Capital) has become the 32nd defaulter broker since May 2019, to be expelled by the National Stock Exchange (NSE). According to NSE, the Bengaluru-based broker's trading rights have been withdrawn in equity, futures & options (F&O) and commodity segments...

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A video of scantily clad women dancing at an event of a government owned bank in a Goa hotel has drawn the ire of a major banking union.   C.H.Venkatachalam, General Secretary, All India Insurance Employees Association (AIBEA) told IANS on Friday, "A life insurance subsidiary of a...

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Moneylife Digital Team 29 April 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs29 crore on nine entities for misutilisation of investor clients' funds and securities and siphoning off funds. Those penalised by SEBI include Amrapali Aadya Trading and Investments Pvt Ltd (AATIPL),...

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The Indian insurance regulator's move to rationalise some of the regulatory compliance is nothing but a `big sound and fury, signifying nothing'.   Perhaps it may rationalise the workload on IRDAI's actuarial department but not that of the life, non-life and reinsurers, industry...

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Moneylife Digital Team 28 April 2022
Market regulator Securities and Exchange Board of India (SEBI) has issued a demand notice of Rs2.05 crore to Anand Subramanian, former group operating officer (GOO) of National Stock Exchange (NSE), in a case related to governance lapses at the Exchange.    On 11th February, SEBI had...

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Moneylife Digital Team 28 April 2022
In a welcome move, market regulator Securities and Exchange Board of India (SEBI) has revised the existing threshold limit for simplified documents to Rs5 lakh from Rs2 lakh currently for securities held in physical mode per listed issuer. The move comes with the aim of simplifying the...

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Moneylife Digital Team 26 April 2022
While declining to interfere with an ongoing investigation, the Telangana High Court (HC) dismissed a criminal petition filed by the National Stock Exchange (NSE), its managing director (MD) and chief executive officer (CEO) Vikram Limaye and chief regulatory officer (CRO) Priya Subbaraman...

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Capital market regulator SEBI is holding Rs25,000 crore of Sahara and in the last nine years, it has only paid around Rs125 crore to the investors, making the conglomerate company as much a victim as its investors, Sahara said in a statement on Monday.   This act of the SEBI is highly...

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Moneylife Digital Team 26 April 2022
Market regulator Securities and Exchange Board of India (SEBI) has streamlined the payment of processing fees through the unified payments interface (UPI) system for shares applied for and allotted during an initial public offering (IPO).    Additionally, the market regulator has...

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Moneylife Digital Team 25 April 2022
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1.12 crore on Bank of Maharashtra (BoM) for non-compliance with certain directions issued by RBI  on know-your-customer (KYC) in 2016.   RBI says, BoM also flouted various other rules and guidelines such as ‘creation...

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Sucheta Dalal Sucheta Dalal 23 April 2022
Amway India is in trouble again. The global direct-selling company, which Wikipedia refers to as a multi-level marketing (MLM) company, had Rs757.77 crore of its Indian assets attached on 18th April by the enforcement directorate (ED) which investigates economic crime and money laundering. ED...

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Moneylife Digital Team 23 April 2022
Concunsmart Shares and Stock Brokers Pvt Ltd (Concunsmart) has become the 31st broker, since May 2019, to be expelled by the National Stock Exchange (NSE) for non-adherence to regulatory provisions. According to NSE, the Mumbai-based broker's trading rights have been withdrawn in equity,...

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Moneylife Digital Team 23 April 2022
Market regulator Securities and Exchange Board of India (SEBI) has issued a notice of demand of Rs2 crore to National Stock Exchange (NSE)'s former managing director (MD) and chief executive officer (CEO) Ravi Narain in the matter of governance issues at the Exchange.   In its...

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The Central Bureau of Investigation (CBI) on Thursday filed its first charge sheet against National Stock Exchange's ex-MD and CEO Chitra Ramkrishna, and ex Group Operating Officer Anand Subramanian in connection with the NSE co-location scam.   Both Ramkrishna and Subramanian,...

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