REGULATIONS


Moneylife Digital Team 24 September 2021
In a significant order, the National Company Law Appellate Tribunal (NCLAT) says the success fee paid to the resolution professional (RP) is more of a contingency and not part of the Insolvency and Bankruptcy Code (IBC).    While dismissing an appeal, the bench of justice AIS Cheema...

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Khushi Jain (The Leaflet) 24 September 2021
The RBI’s new Account Aggregator framework aims to ensure convenience to customers in availing loans and establish a fool proof mechanism for the financial institutes to check the creditworthiness of the loanee. However, several concerns must be taken care of to protect users’ data privacy...

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IANS 23 September 2021
The government has decided to give a two month extension to companies to conduct their annual general meetings (AGM) for financial year 2020-21.   The extension is being given on account of the wave of disruptions caused by the second wave of Covid and lockdowns in various parts of...

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IANS 23 September 2021
Google on Thursday said that it has filed a writ petition in the Delhi High Court against the leak of the Competition Commission of India's confidential report pertaining to the investigation against the global search engine giant.   "We are deeply concerned that the Director...

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Ranganathan V Ranganathan V 22 September 2021
Many societies constantly debate the need for letting terminally sick patients choose a way to end the suffering that cannot be medically relieved. Auditing is almost at the threshold of such a situation.    Its allure is constantly slipping out of the reckoning of the very...

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Moneylife Digital Team 21 September 2021
Ever since the National Stock Exchange (NSE) scrapped the TER (trade execution range) with effect from 16th August, freak trades in the derivatives segment of NSE had become a recurring routine event. Traders, who regularly suffered huge losses, have expressed outrage on social media every...

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Moneylife Digital Team 21 September 2021
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1 lakh each on the promoter-director and system administrator of Kolkata-based Excel Stock Broking Pvt Ltd for violating the provisions about the access to secondary servers of the National Stock Exchange (NSE)’s...

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Moneylife Digital Team 21 September 2021
Market regulator Securities and Exchange Board of India (SEBI) has mandated that all designated employees of asset management companies (AMC) be paid up to 20% of their monthly compensation in units of the schemes in which they have a role or oversight. According to SEBI, this move would make...

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Moneylife Digital Team 20 September 2021
Paying heed to the concerns raised by several organisations over the possibility of failure of millions of e-mandates or auto-debits because all banks have not upgraded their systems, the Reserve Bank of India (RBI) had extended the compliance timeline by six months in April this year. Now...

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Moneylife Digital Team 16 September 2021
The Indian government has decided to set up National Asset Reconstruction Co Ltd (NARCL) to aggregate non-performing assets (NPAs) in banks’ balance sheets and manage and dispose them professionally. "Along with NARCL, we are also setting up an India Debt Resolution Co Ltd (IDRCL)," says...

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Moneylife Digital Team 16 September 2021
With the Supreme Court mentioning (SC) the removal order as ‘awkward’, the Union government agreed to allow justice Ashok Iqbal Singh (AIS) Cheema to continue as acting chairperson of the National Company Law Appellate Tribunal (NCLAT) until 20 September 2021. Justice Cheema had approached...

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Moneylife Digital Team 16 September 2021
Abhay Bhutada, managing director (MD) and chief executive officer (CEO) of Poonawalla Fincorp Ltd (erstwhile Magma Fincorp) has resigned soon after market regulator Securities and Exchange Board of India (SEBI) barred him and seven others for insider trading in Magma Fincorp just before the...

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IANS 16 September 2021
The Supreme Court on Wednesday said that one of the principal objects of the Insolvency and Bankruptcy Code (IBC) is providing for revival of the corporate debtor, and liquidation should be the last resort.   A bench of Justices L. Nageswara Rao, B.R. Gavai and B.V. Nagarathna said:...

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Vinod Kothari Vinod Kothari  and   Vinita Nair 15 September 2021
At one end India is aiming to be included in global bond indices and government is aiming to open the domestic bond market. At the other end, Securities Exchange Board of India (SEBI) is enforcing stricter compliance requirements on the bond issuers and the intermediaries associated with the...

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IANS 15 September 2021
The Supreme Court on Wednesday criticised the government for "cherry picking" from its recommendations for tribunals across the country, and asked, what is sanctity of recommendations by the panel headed by sitting top court judges if the government has the last say on the...

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Moneylife Digital Team 14 September 2021
The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) decided to link their respective fast payment systems unified payments interface (UPI) and PayNow. The linkage is targeted for operationalisation by July 2022.   In a release, RBI says, “The UPI-PayNow...

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IANS 14 September 2021
The Reserve Bank of India (RBI) has cautioned the public against falling prey to frauds in the name of KYC (know your customer) update and sharing key details such as debit and credit card details and OTPs.   In a statement on Monday, the RBI said that it has been receiving complaints...

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Ranganathan V Ranganathan V 13 September 2021
The story of its ruin is simple and obvious, and instead of inquiring why the Roman empire was destroyed, we should rather be surprised that it had subsisted so long. The victorious legions, who, in distant wars, acquired the vices of strangers and mercenaries, first oppressed the freedom of...

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Moneylife Digital Team 13 September 2021
While maintaining that the resolution applicant cannot modify or withdraw its resolution plan approved by the committee of creditors (CoC) under the Insolvency and Bankruptcy Code (IBC), the Supreme Court has asked National Company Law Tribunal (NCLT) and the National Company Law Appellate...

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IANS 13 September 2021
Capital market regulator SEBI has notified certification requirements for the distributor and employees of portfolio management services.   As per the regulator, "the associated persons, engaged by a portfolio manager as a distributor of the portfolio management services, shall obtain...

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