REGULATIONS


Moneylife Digital Team 29 March 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration certificate of Anugrah Stock and Broking Pvt Ltd (Anugrah/ ASBPL) for indulging in unregistered portfolio management services (PMS) activities, failing to maintain proper books of accounts and...

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Sam Bankman-Fried, the former founder of collapsed cryptocurrency exchange FTX, has now been charged with bribing Chinese officials to the tune of $40 million.   The US Department of Justice has alleged that Bankman-Fried "authorised and directed a bribe of at least $40 million to one...

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Moneylife Digital Team 28 March 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs1 crore on Mysore Amalgamated Coffee Estates Ltd (MACEL) for indulging in a diversion of funds worth Rs3,535 crore. SEBI's investigation revealed Rs3,535 crore were transferred from Coffee Day Enterprises...

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The US Commodity Futures and Trading Commission (CFTC) on Monday sued leading blockchain and cryptocurrency platform Binance for allegedly breaking trading and derivatives rules, media reports said.   Along with Binance, the CFTC sued the company's CEO Changpeng Zhao, and Chief...

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Moneylife Digital Team 27 March 2023
While tweaking a 2016 master circular on frauds issued by the Reserve Bank of India (RBI), the Supreme Court ruled that a hearing must be allowed for borrowers before classifying their accounts as fraud. Since the classification of an account as fraud entails serious civil consequences for...

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Corporate insolvency resolution process (CIRP) was initiated in the cases of DHFL, ABG Shipyard and Bhushan Power and Steel (BPSL), and resolution plans were approved in cases of DHFL and BPSL, with amount realisable to creditors of Rs37,167 crore and Rs19,895 crore,...

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The Haryana Real Estate Regulatory Authority (HARERA) has rejected the application of real estate promoter Shree Vardhman Infraheights Private Limited seeking an extension of registration of its group housing project Shree Vardhman Victoria over repeated non-compliance of RERA acts and...

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Moneylife Digital Team 27 March 2023
Market regulator Securities and Exchange Board of India(SEBI) has cancelled the stock broker license of Parwati Commodity Market Pvt Ltd for dealing in or facilitating paired contracts on the National Spot Exchange Ltd (NSEL) platform. Parwati Commodity has been asked to allow its existing...

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Things couldn’t get any worse for the market regulator. Although much of the embarrassment it has faced in recent times is due to legacy issues, it may be time for a serious overhaul of how the Securities and Exchange Board of India (SEBI) is handling its functions of investigation and...

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Moneylife Digital Team 25 March 2023
Moneylife Foundation, which is involved in advocacy and financial literacy initiatives, has raised 10 key consumer concerns with the Reserve Bank of India’s (RBI) committee for review of customer service standards in RBI regulated entities (REs) headed by a former deputy...

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The Delhi High Court has cautioned the adjudicating authority under Prevention of Money Laundering Act, 2002 (PMLA) about passing 'templated orders' and to refrain from using 'identical templated paragraphs'.   A single-judge bench of justice Pratibha M Singh said: "Use of identical...

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A parliamentary panel has urged the government to frame a comprehensive national policy on electric vehicles (EV) by incorporating the elements of successful state models and international best practices.   These best practices should be based on charging infrastructure, battery...

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Moneylife Digital Team 24 March 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs5 lakh on SSJ Finance and Securities Pvt Ltd for multiple law violations, including misuse of clients’ funds, non-settlement of clients’ funds and securities, delay in uploading know-your-customer (KYC)...

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Moneylife Digital Team 23 March 2023
The Monetary Authority of Singapore (MAS) says that it will stick to the hierarchy of claims in liquidation in case necessary to use its power to resolve a financial institution (FI), and shareholders will be the first to absorb losses before holders of additional tier-1 (AT1) and tier-2...

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Six years after the Real Estate (Regulation and Development) Act (RERA) came into existence, a series of decisions is finally working in favour of home-owners. What is interesting, though, is that many positive orders have come from consumer courts rather than the realty regulator. But...

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If anyone has forgotten the way the game ‘passing the parcel’ is played, easy guidance can be obtained from the recent order of Ashwani Bhatia, whole-time member (WTM) of the Securities and Exchange Board of India (SEBI) in the matter of one of the major corporate scandals of recent years,...

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Moneylife Digital Team 17 March 2023
The Bombay High Court (HC) granted a stay on an order passed by the central information commission (CIC) in a second appeal under the Right to Information Act, which New Delhi-based RTI activist Subhash Chandra Agarwal filed. The Court was hearing the writ petitions filed by the Securities...

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Moneylife Digital Team 17 March 2023
Gautam Adani-led Adani group on Thursday clarified that, as per the applicable Indian regulations, Vinod Adani, elder brother of the group head, is part of the promoter group of various listed entities within the group.   In a regulatory filing, Adani Enterprises Ltd, the group...

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The Haryana real estate regulatory authority (HARERA), Gurugram, has directed the real estate promoter Splendor Landbase Limited to pay delayed possession charges (DPC) to its allottees, after it failed to complete the project and deliver units timely as per the agreement, while setting its...

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Moneylife Digital Team 16 March 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 lakh on one Siddhant Suresh Chandan for providing investment advisory services through his channel on Telegram. He is also directed to refund the amount collected as fees to concerned clients and to...

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