REGULATIONS


Moneylife Digital Team 01 April 2022
Market regulator Securities and Exchange Board of India (SEBI) imposed penalties totalling Rs 51 lakh on 18 entities, including individuals, for misutilisation of IPO funds and certain other lapses with respect to the shares of Acropetal Technologies Ltd (ATL).   ATL raised Rs 170...

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Moneylife Digital Team 31 March 2022
The Central Bureau of Investigation (CBI), which is investigating the co-location (Colo) scam at the National Stock Exchange (NSE), has made substantial progress, finance minister (FM) Nirmala Sitharaman informed the Rajya Sabha. In a separate reply, the Union government says the internal...

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Moneylife Digital Team 31 March 2022
Credit information companies (CICs) or credit bureaus are mandated to share corrected particulars with the specified user or individual within 30 days, the Union government informed the Rajya Sabha.   In a written reply, minister of state for finance Dr Bhagwat Karad says, "As per the...

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Moneylife Digital Team 30 March 2022
Market regulator Securities and Exchange Board of India (SEBI) has mandated a 30-days period for all mutual fund (MF) schemes, other than index funds and exchange-traded funds (ETFs), for rebalancing of their portfolios. SEBI says this will bring uniformity across MFs.   In a...

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Sucheta Dalal Sucheta Dalal 30 March 2022
In a curious development, the Securities and Exchange Board of India (SEBI) has gone from issuing press releases supporting the National Stock Exchange (NSE), to throwing the book at it over the mishandled four-hour disruption in trading on 24 February 2021.    SEBI has accused NSE of...

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Moneylife Digital Team 29 March 2022
Market regulator Securities and Exchange Board of India (SEBI) on Tuesday decided to amend regulations to simplify the procedure for transmission of securities, including increasing the threshold limit for documents. SEBI also decided to strengthen the regulatory framework for collective...

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Moneylife Digital Team 29 March 2022
The Securities and Exchange Board of India (SEBI) has taken cognisance of the misleading promotion of Ruchi Soya’s follow-on public offer (FPO) by asking lead managers to initiate corrective action and give investors an opportunity to withdraw.   Essentially, Ruchi Soya, after its...

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A Central Bureau of Investigation (CBI) court on Monday extended the judicial custody of National Stock Exchange's former MD and CEO Chitra Ramkrishna, arrested by the probe agency in early March in connection with the NSE co-location (Colo) case, up to 11th April.   Special Judge...

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Moneylife Digital Team 28 March 2022
Although the Union government, in August 2018, had withdrawn the Financial Resolution and Deposit Insurance Bill (FRDI Bill), it has not decided to bring a new law to provide for a legal framework for resolution of financial institutions, says finance minister (FM) Nirmala...

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Moneylife Digital Team 28 March 2022
The co-location (Colo) issue at the National Stock Exchange (NSE) was caused due to NSE not exercising requisite due diligence while putting in place the tick-by-tick (TBT) market data feed dissemination architecture. For lapses in this regard, NSE's former managing director (MD) and chief...

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Moneylife Digital Team 28 March 2022
Remember the four-hour-long trading disruption at the National Stock Exchange (NSE) on 24 February 2021? Market regulator Securities Exchange of Board of India (SEBI), which was quick to give NSE a clean chit that day, has now found that NSE had a faulty design in its critical trading...

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Securities market regulator SEBI of Friday proposed to reduce the time period taken for share 'buy backs' and 'open offers', on the back of technological advancements made in the tendering and settlement of shares.   "Considering the technological advancements in digital and fintech...

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Vinita Deshmukh Vinita Deshmukh 24 March 2022
An application filed under the Right to Information (RTI) Act, requisitioning inspection reports of National Stock Exchange (NSE) prepared by the Securities and Exchange Board of India (SEBI) has been declined, stating that the information pertains to internal functioning of the market...

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Moneylife Digital Team 24 March 2022
A special Central Bureau of Investigation (CBI) court in New Delhi on Thursday rejected the bail plea of Anand Subramanian, former group operating officer of National Stock Exchange (NSE), in the co-location (Colo) case. CBI is probing the alleged abuse of the Exchange's server architecture...

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Sucheta Dalal Sucheta Dalal 24 March 2022
A massive sum of Rs182 crore has been paid out in legal, consulting and audit fees to the team working on the resolution of the giant Infrastructure Leasing & Financial Services (IL&FS). Importantly, they are the only ones who have got paid in the past 3.5 years (other than employees and...

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Moneylife Digital Team 23 March 2022
After facing public outrage over unaccounted loans appearing on the credit reports of people Dhani Loans and Services Ltd (Dhani) has called for a joint action from the digital lending sector to deal with the problem at a systemic level. To begin with, Dhani has requested credit information...

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Infra costs incurred on mining of virtual digital assets (VDA) such as cryptocurrencies will not be included as a deduction under the Income Tax Act, the government told the Parliament on Monday.   "The Finance Bill, 2022 has proposed to insert section '115BBH' to the Income Tax Act...

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Sucheta Dalal Sucheta Dalal 17 March 2022
The saga of a Siddhapurush / Himalayan yogi guiding decisions of the managing director (MD) of the National Stock Exchange (NSE) drowned out new findings in another equally huge scam whose investigation is dragging exactly like the co-location (Colo) scam. The forensic audit of IL&FS...

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Moneylife Digital Team 16 March 2022
The Banks Board Bureau, an autonomous body of government of India, has recommended three names for the position of managing director and chief executive officer (MD & CEO) of Union Bank of India, Indian Overseas Bank (IOB) and Punjab and Sind Bank. The Bureau also recommended Alok Kumar...

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There is no plan by the government to introduce cryptocurrency, the Parliament was told on Tuesday.   There is no plan to introduce a cryptocurrency and currently it is unregulated in India, Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha in a written...

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