REGULATIONS


Delay in reporting of the incidents and taking corrective action, ineffective supervision and non-compliance of procedures are some of the findings which have emerged during the annual audit of airlines by the aviation authorities.   Annual safety audit is carried out to assess the...

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If you read media reports on cyber fraud carefully, like I do, you would have noted a spike in cases where the police are able to track money moving through multiple accounts very quickly and make substantial recoveries. The secret behind this newfound efficiency is, in some part, due to an...

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Moneylife Digital Team 30 July 2022
Market regulator Securities and Exchange Board of India (SEBI) has notified a framework for the social stock exchange (SSE) for providing social enterprises (SEs) an additional avenue to raise funds. Social enterprises include registered charitable trusts, societies and a company incorporated...

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The Enforcement Directorate (ED) on Saturday said that they have attached immovable and movable assets worth Rs 110 crore in the money laundering investigation against Karvy Stock Broking Ltd (KSBL), its Chairman Comandur Parthasarathy and others.   With the fresh attachments, the...

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Moneylife Digital Team 29 July 2022
Securities and Exchange Board of India (SEBI) has released a framework for automated deactivation of trading and demat accounts in cases of inadequate know-your-customer (KYC) norms.    In a circular issued on 29 July 2022, SEBI says, "...all market infrastructure institutions (MIIs)...

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Moneylife Digital Team 28 July 2022
The National Company Law Tribunal (NCLT) disposed insolvency proceedings against Infinity Infotech Parks Ltd, saying that the application was admitted based on fraudulent documents. The Kolkata bench of NCLT also held Electroparts (India) Pvt Ltd, the financial creditor (FC), guilty of...

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Moneylife Digital Team 28 July 2022
During the past year, up to 30 June 2022, airlines in India reported 478 technical snags. After conducting surveillance, spot checks and night surveillance, the directorate general of civil aviation (DGCA), has taken action in 21 instances. Further, during the current month, 12 aircraft have...

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 Aviation regulator DGCA (directorate general of civil aviation) on Wednesday ordered SpiceJet airline to operate only 50% of its flights for eight weeks.   "In view of findings of various spot checks, inspections and the reply to the show cause notice submitted by SpiceJet, for...

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Moneylife Digital Team 27 July 2022
The Securities and Exchange Board of India (SEBI) has proposed a separate framework for platforms providing execution-only services in direct plans offered by mutual funds. Assets Management Companies (AMCs) provide a separate plan for direct investments which are not routed through a...

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Moneylife Digital Team 26 July 2022
Nearly 25% or 150.2mn (million) out of the total 617.3mn permanent account numbers (PANs) are not yet linked with Aadhaar, the Union government informed the Rajya Sabha.    In a written reply, Pankaj Chaudhary, minister of state for finance, says, "The due date for linking of PAN with...

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The US Securities and Exchange Commission (SEC) has filed insider trading charges against several Indian-Americans in connection with three separate schemes that together yielded more than $6.8 million in illicit gains.   The SEC alleged that Amit Bhardwaj, the former chief...

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Ashish Chauhan’s ghar wapasi (homecoming) to the National Stock Exchange (NSE) means coming back to an organisation that is vastly different from the one he had joined as the youngest member of its founding team of professionals who came over from the Industrial Development Bank of India...

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Moneylife Digital Team 22 July 2022
Statement of Sucheta Dalal, Managing Editor of Moneylife Magazine On the Colocation Scam Investigation by the CBI I was called to New Delhi to record my statement on the colocation scam on 16th July 2022 because I was the person who had broken the story in June 2015. The colocation scam...

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Last week, a Supreme Court (SC) bench comprising justices Indira Banerjee and JK Maheshwari held that the National Company Law Tribunal (NCLT) has the discretion to admit or reject a valid initiation of the insolvency process by a financial creditor (FC) under Section 7 of the Insolvency and...

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Moneylife Digital Team 22 July 2022
The Securities and Exchange Board of India (SEBI) has proposed to bring online bond platforms that are selling listed debt securities under its regulatory framework.   Currently, debt securities can be issued either through a public issuance or on private placement basis. A...

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Moneylife Digital Team 22 July 2022
The Securities Appellate Tribunal (SAT) has significantly reduced penalty imposed by the Securities and Exchange Board of India (SEBI) on New Delhi Television Ltd (NDTV) and the company promoters Dr Prannoy Roy, Radhika Roy and RRPR Holding Pvt Ltd. The Tribunal retained charges mentioned in...

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Moneylife Digital Team 20 July 2022
While quashing an order passed by SEBI, the Securities Appellate Tribunal (SAT) asked the market regulator to pass a fresh order within three months on a plea filed by JK Paper Ltd regarding JK Paper Employees' Welfare Trust.    In an order passed last week, the bench of justice Tarun...

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Moneylife Digital Team 20 July 2022
Pramod Rao, the newly appointed executive director (ED) of the Securities and Exchange Board of India (SEBI) took charge on 15 July 2022. In SEBI, he will handle the departments of debt and hybrid securities (DDHS) and enquiry and adjudication (EAD).   Mr Rao has extensive experience...

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Moneylife Digital Team 20 July 2022
The Central Board of Direct Taxes (CBDT) has allowed the principal chief commissioner of income tax (CCIT) and CCIT to admit applications for condonation of delay of beyond 365 days up to three years in filing forms 9A, 10 and 10BB from the assessment year 2019 onwards. In January 2020, the...

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Moneylife Digital Team 18 July 2022
Indian Banks' Association (IBA) is an unincorporated, independent association of its members, not engaged in any business for the sole purpose of profit and gain, which works as per the mandate given by its members, the Union government says.    "Further, IBA has informed that, as per...

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