REGULATIONS


Updated at 7pm on 1 March 2023 to add response from Mr Gupta's PR agency... We take great pride in the fact that many successful Indians are occupying corner offices at the world’s largest and most powerful corporate houses and every action of theirs makes news in India. The flip side is...

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The Securities and Exchange Board of India (SEBI), whose investigation on the National Stock Exchange (NSE) colocation (Colo) scam was recently snubbed by the securities appellate tribunal (SAT), has issued yet another show-cause notice (SCN) to 11 persons in connection with the Colo scam,...

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Moneylife Digital Team 01 March 2023
In an interim order-cum-show-cause notice (SCN) in front-running of the trades of Axis Mutual Fund, market regulator Securities and Exchange Board of India (SEBI) has barred 21, including Viresh Joshi, former chief trader and fund manager, till further notice. SEBI also impounded Rs30.55...

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Moneylife Digital Team 01 March 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration certificate of BRH Wealth Kreators Ltd (formerly BMA Wealth Creators Ltd) for multiple offences, including misusing, diverting client's securities and funds, non–redressal of grievances, wrong...

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Moneylife Digital Team 01 March 2023
A court at Sonepat in Haryana sentenced Maiden Pharmaceuticals Ltd's director and co-founder Naresh Kumar Goel and technical director MK Sharma to two years and six months of rigorous imprisonment and fined them Rs1 lakh each. While the company was cleared in the cough syrup deaths in The...

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Moneylife Digital Team 01 March 2023
The Reserve Bank of India has sent show-cause notices to a few asset reconstruction companies (ARCs), seeking answers on why their licences should not be cancelled, says a report quoting two people close to the development. According to the report, the move follows a special audit conducted...

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Meta-owned WhatsApp banned more than 29 lakh accounts in India in the month of January, a figure that is drastically lower than 36.77 lakh accounts it blocked in the country in December last year, in compliance with the new IT Rules 2021.   Between January 1 and January 31, "2,918,000...

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The Adani saga has drawn a variety of reactions ever since a report by US-based Hindenburg Research set off the rout in Adani stocks from 25 January 2023. Angry 'nationalists' called it an attack on India. This was followed by reams of Adani apologia from mainstream editors and reporters. A...

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Moneylife Digital Team 28 February 2023
Market regulator Securities and Exchange Board of India ( SEBI) has levied a fine of Rs6 lakh on Star World Research, a proprietorship firm of Manish Kumar Gour for collecting excessive fees from clients, collecting goods and services tax (GST) even after cancelling its tax registration and...

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Moneylife Digital Team 28 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has banned for two years Perpetual Research and its proprietor Priyank Sharma for providing investment advisory services without registration and offering huge returns on investments. SEBI also asked them to refund within three...

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Moneylife Digital Team 27 February 2023
Market Regulator Security and Exchange Board of India (SEBI) has cancelled the registration of Way2Wealth Commodities Pvt Ltd for dealing in or facilitating paired contracts on the National Spot Exchange Ltd (NSEL) platform and failing to satisfy the 'fit and proper' criteria.    In...

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IANS 27 February 2023
Taking a suo motu action, the Haryana Real Estate Regulatory Authority (HRERA), Gurugram, issued an order on Friday instantly freezing the bank accounts of three affordable group housing (AGH) projects of real estate promoter Ocean Seven Buildtech (OSB) Private Limited after noticing several...

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About a week ago, the government accepted the Supreme Court's (SC’s) suggestion to set up a committee led by a retired judge to study the crash in Adani group shares as well as to recommend improvements in statutory and regulatory regimes governing the securities market. As last reported, the...

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Moneylife Digital Team 25 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs37 lakh on Shivom Investment and Consultancy Ltd (SICL), the company directors, and the chief financial officer (CFO) for misrepresenting financials, the number of shares in investment schedule, misusing...

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Moneylife Digital Team 24 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has barred for three years Capital Worth Research House and its four partners, Ankit Shrivastav, Mohammed Aamir Shaikh, Shahid Rangrej, and Sameer Memon for providing illegal investment advisory services.   In the order,...

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TruthInAdvertising.org 24 February 2023
WHAT’S UP A supplement maker will pay $600,000 to settle FTC charges that it engaged in “review hijacking” of its own products on Amazon by merging its new products with ones already on the site to trick consumers into thinking that its newly introduced supplements had more product...

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Moneylife Digital Team 23 February 2023
The minutes of the monetary policy committee (MPC) released by the Reserve Bank of India (RBI) reveal the dilemma of dissent and unison. During the MPC meeting held earlier this month, two members voted against the repo rate hike and also voted against the withdrawal of...

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Moneylife Digital Team 23 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has barred Shubham Rai and Rajesh Nath, operators of Wisdom Capital group, from markets for three years for providing investment advisory services without registration. SEBI also asked these two to refund Rs99.86 lakh collected...

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Moneylife Digital Team 22 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs62 lakh on six, including promoter and directors of North Eastern Carrying Corporation Ltd (NECCL) for circular trading, misleading appearances and creating fictitious trade volume in the company...

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Moneylife Digital Team 21 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs8 lakh on RB Traders and its proprietor Raj Bhadur Bhodriya for providing illegal investment advisory services using the registration number of another entity. The entity and its proprietor are banned from...

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