REGULATIONS


Moneylife Digital Team 03 December 2024
Reserve Bank of India (RBI) has revoked the certificate of registration (CoR) of Zavron Finance Pvt Ltd, a Nagpur-based non-banking financial institution (NBFI), citing serious violations of its guidelines on digital lending practices.     In its statement, RBI pointed out that Zavron Finance...

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Moneylife Digital Team 02 December 2024
Market regulator Securities and Exchange Board of India (SEBI) imposed a penalty of Rs2.18 crore on the 18 entities while ordering them to disgorge Rs2.24 crore, the illicit profits earned through fraudulent trading activities in the scrip of Continental Seeds and Chemicals Ltd...

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Moneylife Digital Team 02 December 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed penalties of Rs15 lakh on Brickwork Ratings India Pvt Ltd and Acuite Ratings & Research Ltd for rating securities issued by borrowers of their promoter entities.   In two separate orders, Amar Navlani, the adjudicating...

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Moneylife Digital Team 02 December 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs9 lakh on Reliance Securities Ltd for violating market norms and stockbroker regulations. This action follows a thematic inspection conducted by SEBI, along with the National Stock Exchange (NSE) and the...

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Amid the uproar surrounding the indictments and arrest warrants in the sprawling Adani bribery scandal, the glaring silence of a central player—Solar Energy Corporation of India (SECI)—stands out.   The policies of SECI, a Central public sector undertaking (PSU) are at the heart of the...

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A sullen central excise inspector was/ is more disruptive to a business than a power outage or transporters' strike!   Reference to a central excise inspector is merely symbolic and annotative. The expression shall encompass similar government functionaries who have power over a business and...

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Moneylife Digital Team 29 November 2024
Reserve Bank of India (RBI) has imposed penalties of Rs8 lakh on a non-banking financial company (NBFC) and three cooperative banks for failing to comply with the directions issued by the banking regulator. The highest penalty of Rs4.50 lakh was levied against Maxvalue Credits and Investments...

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Moneylife Digital Team 29 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed penalties of Rs8 lakh on Beacon Trusteeship Ltd (BTL) and SKI Capital Services Ltd (SKI) for failing to exercise adequate due diligence and for submitting incorrect information during the registration process of Shares...

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Moneylife Digital Team 29 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs6 lakh on Angel One Ltd following an inspection that revealed significant lapses in the company's operations, including failures in client fund settlements, technical glitches, and inadequate oversight of...

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Moneylife Digital Team 29 November 2024
Securities and Exchange Board of India (SEBI) has introduced measures to ensure seamless trading during technical outages, particularly in interoperable segments like equities, derivatives, and currency markets on stock exchanges. The new guidelines will strengthen the resilience of market...

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Moneylife Digital Team 29 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has taken strict action against a group of individuals and entities in a coordinated front-running scheme. The accused, including Murari Lal Sarda (noticee 1), Sushila Sarda (noticee 2), Vikas Sarda (noticee 3), Vikas Sarda Hindu...

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Moneylife Digital Team 28 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs6 lakh on Ankit Gupta, proprietor of Niftymaker.com and directed him to refund Rs39.75 lakh collected as advisory fees from investors for offering unregistered investment advisory services and...

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Moneylife Digital Team 28 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs8 lakh on Gwalior-based Raghunandan Capital Pvt Ltd, a registered stock broker following an inspection that uncovered several violations of the SEBI (Stock Brokers) Regulations, 1992, and various SEBI and...

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Moneylife Digital Team 28 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs12 lakh on Optionsmaster Research Advisory Services and Om Consultancy for engaging in unregistered investment advisory activities. Both entities have been ordered to refund Rs5.22 crore to their clients,...

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Moneylife Digital Team 27 November 2024
Axis Asset Management Company (AMC) Ltd and Axis Mutual Fund Trustee Ltd have paid Rs16.57 lakh to market Regulator Securities and Exchange Board of India (SEBI) to settle charges of charging the total expense ratio (TER) to AMC books.    SEBI had initiated adjudication proceedings against...

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Moneylife Digital Team 26 November 2024
As many as six non-banking finance companies (NBFCs) have surrendered their registration certificates to the Reserve Bank of India (RBI), while the regulator cancelled the registration of two NBFCs. The reasons for surrendering registration include exiting the business and ceasing to be legal...

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Moneylife Digital Team 26 November 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs7.95 lakh on four cooperative banks and GPT Sons Pvt Ltd for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs3 lakh has been imposed on Kapadwanj Peoples Cooperative Bank Ltd from...

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Moneylife Digital Team 25 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has barred Maneesh Kumar Jain (noticee 1) and SV Subha Rao (noticee 2) (former chief finance officer-CFO) of Jagsonpal Pharmaceuticals from the markets for one year. SEBI also imposed a fine of Rs25 lakh on them for indulging in...

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Moneylife Digital Team 25 November 2024
Reserve Bank of India (RBI) has imposed a Rs61.40 lakh penalty on RBL Bank Ltd for non-compliance with directions issued by RBI on know-your-customer (KYC).   RBI statutory inspection of RBL Bank, which assessed its financial position as of 31 March 2022 and 31 March 2023, revealed several...

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Asset reconstruction companies (ARCs) were designed to clean up the banking sector by resolving non-performing assets (NPAs). Consequently, people outside the banking, finance and investment world had nothing to do with them nor had they heard much about them. A spate of defaults among realty...

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