REGULATIONS


Moneylife Digital Team 18 September 2024
While small and medium businesses face stringent punishments for not paying statutory dues within time, SpiceJet Ltd has not paid its dues worth Rs427 crore for tax deducted at source (TDS), provident fund (PF) or gratuity dues to employees and goods and services tax (GST) since 2020, reveals a...

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Moneylife Digital Team 18 September 2024
Securities and Exchange Board of India (SEBI) has streamlined the process for trading bonus shares, reducing availability from about two weeks to just two days after the record date (T+2). This change,  effective for all bonus issues from 1 October 2024, aims to enhance market efficiency and...

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Moneylife Digital Team 18 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs5 lakh on the promoters of Alka India Ltd along with Cavalier Securities Ltd for breaching regulatory norms.   Alka India, which is listed on the Bombay Stock Exchange (BSE), faced scrutiny over...

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Moneylife Digital Team 16 September 2024
Taking note of agitation by its employees, market regulator Securities and Exchange Board of India (SEBI) has withdrawn its release issued on 4 September 2024 in which SEBI had said the allegations of unprofessional work culture in its offices are 'misplaced'.    In a statement, the market...

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Moneylife Digital Team 16 September 2024
Reserve Bank of India (RBI) has imposed penalties of Rs73.20 lakh on BNP Paribas and three non-banking financial companies (NBFCs), including Hewlett Packard Financial Services (India) Pvt Ltd, SMFG India Credit Company Ltd and Muthoot Vehicle & Asset Finance Ltd for non-compliance with the...

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The raging controversy over Madhabi Puri Buch and turmoil at the market regulatory body, almost drowned out a stunning order by the Bombay High Court on 26 August 2024. A bench of justices GS Kulkarni and Firdosh P Pooniwalla had imposed a stiff penalty of Rs80 lakh on the Securities & Exchange...

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Moneylife Digital Team 13 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has disposed proceedings in the National Stock Exchange (NSE) co-location (Colo) matter against Ravi Narain and Chitra Ramkrishna, both former managing directors and chief executive officers (MD&CEOs) of NSE, Anand Subramanian...

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Moneylife Digital Team 13 September 2024
As many as 13 non-banking finance companies (NBFCs) have surrendered their registration certificates to the Reserve Bank of India (RBI), while the regulator cancelled the registration of four NBFCs. This includes reasons such as exiting the business, being deemed unregistered core investment...

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Moneylife Digital Team 13 September 2024
While denying all allegations related to income earned from Agora Advisory Pvt Ltd, rental income from Carol Info Services Ltd, a company affiliated with Wockhardt Ltd and ICICI group-related matters, Madhabi Puri Buch, chairperson of the Securities & Exchange Board of India (SEBI) and her...

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Moneylife Digital Team 12 September 2024
Mahua Moitra, a member of Parliament (MP) from Trinamool Congress, has filed a Lokpal complaint against Madhabi Puri Buch, chairperson of the Securities & Exchange Board of India (SEBI), for improper conduct and entering into quid pro quo arrangements, which, according to the MP, 'threaten...

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Moneylife Digital Team 12 September 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs20 lakh on Bharosa Technoserve Pvt Ltd (BTPL) and its key individuals, including Sanjay Bhargava, Sahil Bhargava and Anita Bhargava for failing to adhere to Investment Adviser (IA) Regulations.   In an...

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Moneylife Digital Team 12 September 2024
Continuing with its action against spammers, the department of telecommunications (DoT) and the telecom regulatory authority of India (TRAI), through the Sanchar Saathi portal, have disconnected 350,000 numbers and  blacklisted 50 entities. In addition, around 350,000 unused and unverified SMS...

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Moneylife Digital Team 11 September 2024
While asking the automobile industry to help the Union government in designing the programme of trustworthy pollution checks, Anurag Jain, secretary in the ministry of road transport & highways (MoRTH), says the government is working on a policy that seeks to link vehicle scrapping to their...

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Moneylife Digital Team 11 September 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs1.91 crore on Axis Bank Ltd for contravention of provisions of section 19 (1) (a) of the Banking Regulation Act (BR Act) and non-compliance with directions on the interest rate on deposits, know-your-customer (KYC) norms and credit flow...

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Moneylife Digital Team 10 September 2024
Contrary to a claim by Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), the Congress party alleged that, as of March 2024, she owned a 99% stake in Agora Advisory Pvt Ltd and had received Rs2.95 crore from FY16-17 till FY23-24, except for two years. Agora...

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Moneylife Digital Team 10 September 2024
After finding procedural errors, the Supreme Court set aside the Rs80 lakh penalty imposed by the Bombay High Court (HC) on Securities and Exchange Board of India (SEBI), Bombay Stock Exchange Ltd (BSE) and National Stock Exchange Ltd (NSE) for freezing of demat accounts of two investors. The...

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Moneylife Digital Team 10 September 2024
The Reserve Bank of India (RBI) has imposed a penalty of Rs1 crore on HDFC Bank Ltd for failing to follow guidelines on interest rates on deposits, the use of recovery agents, customer service standards in banks and the management of risks and code of conduct for outsourcing financial...

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Moneylife Digital Team 10 September 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs10.50 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs4.50 lakh has been imposed on Samarth Sahakari Bank Ltd from Maharashtra.   Other banks penalised by RBI...

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Moneylife Digital Team 09 September 2024
Levelling more conflict of interest allegations against Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), the Congress claimed that she received rental income from Carol Info Services Ltd, a company affiliated with Wockhardt Ltd, that the market regulator...

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Moneylife Digital Team 09 September 2024
Reserve Bank of India (RBI) has imposed penalties worth Rs13.50 lakh on three housing finance companies (HFCs) for non-compliance with the directions issued by the banking regulator. The HFCs penalised by RBI are Godrej Housing Finance Ltd, Aadhar Housing Finance Ltd and Housing and Urban...

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