REGULATIONS


Moneylife Digital Team 01 November 2023
To address new emerging issues in the liquidation process, the Insolvency and Bankruptcy Board of India (IBBI) has issued a discussion paper to strengthen the framework for certain matters related to sale, reserve price, monitoring private sale, listing of all assets in a platform,...

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IANS 01 November 2023
The US Securities and Exchange Commission (SEC) has announced charges against software company SolarWinds (run by Indian-origin CEO Sudhakar Ramakrishna) and its chief information security officer, Timothy G. Brown, for fraud and internal control failures relating to allegedly known...

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Moneylife Digital Team 31 October 2023
Reserve Bank of India (RBI) has imposed Rs13.10-lakh penalty on five cooperative banks for violating rules and regulations prescribed by the regulator. Of these, three banks are from Gujarat, while others belong to West Bengal and Mizoram. RBI has levied a fine of Rs7 lakh, the highest among...

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IANS 30 October 2023
The Supreme Court on Monday came down heavily on two members of NCLAT (national company law appellate tribunal) who were issued contempt notice for defying an order of the apex court.   After going through the relevant CCTV footage of NCLAT proceedings from 13th October, a bench...

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IANS 30 October 2023
Shares of Zee Entertainment are up over 1 per cent in trade on Monday after the Securities and Appellate Tribunal (SAT) set aside the SEBI order banning Punit Goenka from holding key managerial posts.   SAT on Monday allowed an appeal by Punit Goenka, former MD and CEO, setting aside...

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Moneylife Digital Team 30 October 2023
Market regulator Securities and Exchange Board of India (SEBI) has barred for two years Arvind Rameshwar Waghmare (noticee), the sole proprietor of JSR Makers for providing illegal investment advisory services. Mr Waghmare has also been slapped with a fine of Rs1 lakh and has been asked to...

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More than two years ago, I wrote about the case of C&C Towers Ltd, (CCTL) which had signed a 20-year concession agreement with Greater Mohali Area Development Authority (GMADA) in April 2009 for an inter-state bus terminal, three multi-storied towers with retail and office spaces, multiplex,...

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A chilling headline in The Times of India on 23rd October should have shaken up many people. It said that 379 out of 475 individuals, certified as mentally fit, were stuck in mental hospitals all over Maharashtra for over 10 years. Justice Nitin Jamadar and Manjusha Deshpande of the Bombay...

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Moneylife Digital Team 27 October 2023
Coming down heavily on the banking ombudsman (BO) of the Reserve Bank of India (RBI), the Delhi High Court (HC) says the BO, a quasi-judicial body, is reasonably expected to pass a well-reasoned order and any empty formality deserves to be weeded out. While setting aside three orders of BO,...

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Moneylife Digital Team 27 October 2023
While criticising the Securities and Exchange Board of India (SEBI) for issuing a show-cause notice (SCN) to a company 10 years after conducting an investigation, the Supreme Court has directed the market regulator to hold an inquiry into the delay and submit a report. In the case of alleged...

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IANS 27 October 2023
The RBI has raised, with immediate effect, the minimum amount for offering non-callable term deposits (those with premature withdrawal facility) by banks to individuals from Rs 15 lakh to Rs 1 crore, a move aimed to benefit customers.   The RBI issued a master direction to banks on...

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Moneylife Digital Team 26 October 2023
After holding home-buyers as financial creditors as per the Insolvency and Bankruptcy Code (IBC), in January 2021, the Supreme Court ruled that home-buyers, with a decree obtained from the real estate regulatory authority (RERA), cannot be treated differently from other allottees and...

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IANS 26 October 2023
The Securities and Exchange Board of India (SEBI) has found that a social media platform in the name of 'Baap of Chart' (BoC) being operated by Mohammad Nasiruddin Ansari acted as an investment adviser without any registration.   The markets regulator has found that the noticees...

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Moneylife Digital Team 26 October 2023
Introducing a framework of compensation mechanism for delayed updation or rectification of credit information by the credit institutions (CIs) and credit information companies (CICs), Reserve Bank of India (RBI) has asked them to resolve complaints filed by customers within 30 calendar days...

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Moneylife Digital Team 26 October 2023
Market regulator Securities and Exchange Board of India (SEBI) has banned Shivaay Investments, its owner and two co-owners, for two years and finned Rs6 lakh for providing investment advisory services. Shivaay Investments also offered guaranteed allotment under the initial public offering...

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Moneylife Digital Team 26 October 2023
Reserve Bank of India (RBI) has imposed monetary penalties on three cooperative banks for violating various rules and regulations prescribed by the regulator. The banks penalised are Ghatal Peoples Cooperative Bank Ltd from West Bengal, District Central Cooperative Bank Ltd from Bihar and The...

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IANS 25 October 2023
The Reserve Bank of India (RBI) has directed all private sector banks and wholly-owned subsidiaries of foreign banks to ensure the presence of at least two whole-time directors (WTD), including the managing director and chief executive officer (MD & CEO), on their boards.   The number...

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IANS 25 October 2023
‘Kumkum Shoes’, a trading business in Uttar Pradesh's Agra has been directed by the Delhi High Court to pay a compensation of Rs10 lakh to ‘PumaSE’ in a case involving usage of its ‘leaping cat’ logo.   The court said the use of ‘Puma’ trademark and logo by the defendant on inferior...

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Moneylife Digital Team 25 October 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the certificate of registration of Arcadia Commodities and Trading and Modex Commodity Trades Pvt Ltd for their involvement in illegal paired contracts of the now-defunct National Spot Exchange Ltd (NSEL).  

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Moneylife Digital Team 25 October 2023
Reserve Bank of India (RBI) has imposed a penalty of Rs3 lakh on Indrayani Cooperative Bank Ltd from Pimpri in Maharashtra, for non-compliance with the directions on income recognition, asset classification, provisioning and other related matters –urban cooperative bank (UCBs) and know your...

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