REGULATIONS


Dr B Yerram Raju Dr B Yerram Raju 12 September 2022
Ever since banks were liberalised, they got into new lines of business, looking at their fully digitised European and other Western counterparts, and embraced universal banking. This is the genesis of banks selling third-party products like insurance, mutual funds (MFs), pension funds and the...

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IANS 12 September 2022
In the first of its kind action, the Institute of Actuaries of India (IAI) sent out four members of its Managing Council ahead of its annual general meeting (AGM) and in the process, reduced the Council's size less than the statutory requirement, said senior actuaries including a former...

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Moneylife Digital Team 09 September 2022
The Directorate of Enforcement (ED) has filed 992 complaints and the value of assets it attached and confirmed by an adjudicating authority (AA) is worth Rs58,591 crore as on 31 March 2022. Further, the agency has returned to public sector banks (PSBs) and the Union government assets worth...

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Moneylife Digital Team 09 September 2022
The Securities Appellate Tribunal (SAT) has quashed the order passed by Securities and Exchange Board of India (SEBI) against a director of Falcon Tyres Ltd and a non-executive director of Dunlop India Ltd inter alia restraining them from accessing the securities market for a period of two...

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Naman Khatri  and   Jasleen Bedi (The Leaflet) 09 September 2022
The Supreme Court’s recent judgement clarifies the ambit of mandatory pre-institution mediation under the Commercial Courts Act, 2015. In spite of the court’s clear interpretation of Section 12A, there is a dire need to add teeth to this provision by introducing reforms in the mediation...

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Ranganathan V Ranganathan V 08 September 2022
A judgement of the Supreme Court (SC), dated 6 September 2022, in the case of Rainbow Papers Ltd, opens a new chapter with regard to consideration of the claims of the sovereign with regard to tax dues under the provisions of the Insolvency and Bankruptcy Code (IBC), 2016.   The Court...

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IANS 08 September 2022
While setting asidethe order of NCLT (national company law tribunal) on the appointment of CFO (chief finance officer) in RattanIndia Finance Private Limited (RFPL),  the principal bench of NCLAT (national company law appellate tribunal), in the appeal filed by Hamlin Trust and others (50%...

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IANS 08 September 2022
Following the non-compliance of the Real Estate Regulatory Authority (RERA) order, the Authority has ordered the directors of the Raheja Developers Limited (RDL) to appear in person before the court.   During the next hearing, RDL will have to explain to the bench what actions the...

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IANS 08 September 2022
The national company law tribunal (NCLT) has allowed Zee Entertainment to conduct the shareholders' meeting for the proposed merger with Sony.   "The Mumbai bench of national company law tribunal (NCLT) has directed in its order that a meeting of the equity shareholders of Zee...

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IANS 08 September 2022
Goods and Service Tax (GST) payers, whose aggregate turnover exceeds Rs 10 crore in any financial year, will have to compulsorily generate e-invoices from October 1, 2022 for business-to-business (B2B) supply of goods or services, or both and also for exports, Central Board of Indirect Taxes...

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Moneylife Digital Team 07 September 2022
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 crore on Yes Bank;s former managing director (MD) and chief executive officer (CEO) Rana Kapoor in the additional tier-1 bonds (AT-1 bonds) mis-selling case. The SEBI order held him responsible for the misleading...

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Moneylife Digital Team 07 September 2022
After warning consumers not to perform forex transactions on unauthorised electronic trading platforms (ETPs) or remit or deposit money for unauthorised forex transactions, the Reserve Bank of India (RBI) released, on its website, a list of 34 entities that are not authorised to carry out...

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IANS 07 September 2022
Taking note of the fact that a majority of people sitting on the rear seat of a car do not wear seat belt, Union minister for road transport and highways, Nitin Gadkari, said on Tuesday that rear seat occupants not wearing seat belt will soon be penalised.   The minister said that a...

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Moneylife Digital Team 07 September 2022
Securities and Exchange Board of India (SEBI) has sent a notice to eight entities and asked them to pay over Rs98 lakh in a case pertaining to mis-utilisation of the IPO (initial public offer) proceeds in the matter of Midvalley Entertainment Ltd (MVEL).The notice came after Midvalley...

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IANS 06 September 2022
Meta-owned photo and video-sharing platform Instagram has been fined 405 million euros ($402 million) by the Irish Data Protection Commission for violations of the General Data Protection Regulation.   The fine, the second-highest under the GDPR after a 746 million euros penalty...

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IANS 05 September 2022
The Supreme Court on Monday issued notice on a plea by Amazon challenging the National Company Law Appellate Tribunal (NCLAT) order which upheld the decision to keep share subscription agreement (SSA) between Amazon and Future Coupons Pvt Ltd (FCPL) in abeyance.   A bench of Justices...

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Moneylife Digital Team 05 September 2022
The Securities Appellate Tribunal (SAT) has set aside a securities market interim ban on former TV anchor Hemant Ghai and his family imposed by regulator Securities and Exchange Board of India (SEBI) for fraudulent trading practices pending investigation.The tribunal directed the SEBI’s...

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Moneylife Digital Team 05 September 2022
The securities appellate tribunal (SAT) has quashed the orders passed by the National Stock Exchange (NSE) and Central Depository Services (CDSL) directing Kotak Mahindra Bank not to invoke shares pledged by Arcadia Share & Stock Brokers.   It may be recalled that in February 2021,...

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IANS 05 September 2022
Payment service provider NTT DATA Payment Services India (earlier Atom Technologies) on Monday said it has received an in-principle approval from the Reserve Bank of India (RBI) for the Payment Aggregator (PA) license.   The company has an annual transaction value of Rs 150,000 crore...

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Moneylife Digital Team 03 September 2022
Market regulator Securities and Exchange Board of India (SEBI) has asked stockbrokers to refrain from making any reference to the past or expected future return or performance of the algorithm trading. In a circular, SEBI says, "Stock Brokers who provide services relating to algorithmic...

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