INVESTOR ISSUES


Thirty years after the securities scam, Harshad Mehta’s story is attracting a lot of public attention after a selectively sympathetic portrayal of the Big Bull operator in a hugely popular television series; but it also showcases our inability to resolve major financial scandals.   An...

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Moneylife Digital Team 04 June 2022
Vardhaman Global Sharecom Pvt Ltd has written a letter to market regulator Securities and Exchange Board of India (SEBI), the National Stock Exchange (NSE) and NSE Clearing Ltd to ‘look into’ a punching error (called fat finger trade in trade lingo), which could have caused a loss of Rs200...

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Moneylife Digital Team 03 June 2022
In bad news for Bitcoin and Blockchain lovers, the New York State on Friday passed a bill to halt new permits for certain fossil fuel power plants to be used in Bitcoin mining.   The measure establishes a two-year moratorium on new permits for cryptocurrency mining operations that use...

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Moneylife Digital Team 27 May 2022
Market regulator Securities and Exchange Board of India(SEBI) has simplified the procedure and documentation requirements for issuance of duplicate securities certificates in order to make the process more efficient and investor friendly. Operational guidelines for processing investors'...

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The nexus between fund managers and brokers is well known. We often hear that they work hand-in-glove. Today we will take a closer look at how this actually happens.   An order to buy shares or sell shares is decided by a fund manager who then intimates the same to his dealer or chief...

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Continuing its selling spree for the eighth consecutive month in May, foreign portfolio investors (FPIs) have pulled out around Rs2.5 lakh crore from the Indian equity market.   So far in 2022 itself, FPIs sold investments worth over Rs1.7 lakh crore, data available with National...

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Moneylife Digital Team 25 May 2022
Capital markets regulator Securities and Exchange Board of India (SEBI) on Tuesday imposed a penalty of Rs5 lakh on an entity for indulging in manipulative trade practices in the shares of Allied Computers International (Asia) Ltd more than a decade ago.   The order came after SEBI...

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Moneylife Digital Team 24 May 2022
Market regulator Securities and Exchange Board of India (SEBI) on Monday announced changes to guidelines  for passive mutual fund (MF) schemes, aiming to boost exchange-traded funds (ETFs).   Further, the market regulator notified that the index shall not have over 25% weight in a...

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Moneylife Digital Team 24 May 2022
The tracking error for equity exchange traded funds (ETFs)/index funds cannot exceed 2% and the tracking difference for debt funds—averaged over one year—must be within 1.25%, as per the recent circular of the Securities and Exchange Board of India (SEBI) on passive mutual fund (MF)...

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After a week-long mayhem in the global crypto exchanges that wiped out hundreds of billions of dollars, a senior official at the International Monetary Fund (IMF) has said that the regulators must put up guardrails to protect innocent investors.   The shocking implosion of the...

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On 8 March 2022, the enforcement directorate (ED) at Hyderabad issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) against C Parthasarathy, founder of the Karvy group of entities, his sons Adiraj Parthasarathy and Rajat Parthasarathy, and the following...

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The past two years after global lock-downs were triggered by the COVID-19 pandemic, India's investor population has almost doubled due to the rush of new investors. Strangely, however, the brokerage business is seeing a huge churn with scores of broker defaults and even more trading members...

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On 6 May 2022, Elcid Investments Ltd, listed on the Bombay Stock Exchange (BSE), a name unknown to many until then, with an issued share capital of 2,00,000 equity shares of Rs10 each, with the promoters holding 1,49,950 shares, announcing that the postal ballot to initiate the delisting...

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Moneylife Digital Team 21 May 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1 crore on IIFL Securities (IIFL) Ltd for violating regulations  in 2014. SEBI had conducted multiple audits of IIFL's books of accounts and discovered that the company had violated the SEBI circular of...

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Moneylife Digital Team 20 May 2022
Markets regulator Securities and Exchange Board of India (SEBI) has imposed penalties totalling Rs38.75 crore on 32 entities, including Fortis Healthcare Holdings, in a case related to diversion of funds of Fortis Healthcare Ltd (FHL) and misrepresentations to conceal the fraud.   The...

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Moneylife Digital Team 19 May 2022
Market regulator Securities & Exchange Board of India (SEBI) has permanently withdrawn its recognition granted to Indian Commodity Exchange Ltd (ICEX).    In a statement, the market regulator says, "The withdrawal of recognition was pursuant to an order passed by VS Sundaresan,...

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The shocking implosion of the TerraUSD and Luna crypto-currencies (crypto) threw many young investors into a panic, some of them saying their entire assets were blown up or even leaving suicidal messages.   In a crash starting a week earlier, the once bullish TerraUSD and sister coin...

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The pandemic has been a flourishing time for the brokerage business. India’s investor population nearly doubled, as people from the age of 9 years to 90 years turned into traders after a quick online class. Brokers used this boom during the lock-down to lure and loot people with well-laid...

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Moneylife Digital Team 13 May 2022
The Securities and Exchange Board of India (SEBI) had invited Sucheta Dalal, founder-trustee of Moneylife Foundation, to make a presentation for an ad-hoc committee headed by G Mahalingam, a former whole-time member (WTM) of SEBI. She was asked to put together and present an investor...

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Moneylife Digital Team 11 May 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 1 lakh on an ex-employee of Infosys for violating the model code of conduct in a case related to shares of Infosys. The individual, Prateek Sarawgi, was working as an Associate Manager (Business...

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