REGULATIONS


IANS 19 September 2022
Aiming decriminalisation of offences, the Central Board of Direct Taxes (CBDT) on Saturday issued revised guidelines for compounding of offences under the Income Tax Act, 1961 with reference to various offences covered under its prosecution provisions.   Some of the major changes made...

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Sucheta Dalal Sucheta Dalal 16 September 2022
In an astonishing development, even as the Indian rupee is in trouble, the Reserve Bank of India (RBI), on 22 August 2022, issued a circular ostensibly to permit overseas investment by persons resident in India, in order to "enhance the scale and scope of business operations of Indian...

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Sucheta Dalal Sucheta Dalal 16 September 2022
The problem of unclaimed money/assets (from bank deposits, shares, mutual funds, insurance, pensions and government saving schemes) is not unique to India. It happens all over the world. But most developed countries have found ways of dealing with it in a fair and equitable manner. India has...

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Debashis Basu Debashis Basu 16 September 2022
The market watchdog, the Securities and Exchange Board of India (SEBI), has now told stockbrokers, who provide algorithmic trading (algo trading), not to allow algo sellers to promise high returns on their trading platforms. Algos meant for retail investors, or retail algos as they are...

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Moneylife Digital Team 16 September 2022
Syndicate Bank was one of the country's oldest and major commercial banks in which the Union government held nearly 85% stake. Syndicate Bank has now been merged with Canara Bank, another public sector bank (PSB).   However, Syndicate Bank's risk assessment and inspection reports from...

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Moneylife Digital Team 16 September 2022
The Securities and Exchange Board of India (SEBI) has launched an investigation into the financial statements of Eros International Media Ltd (Eros) for FY18-19 to FY20-21, with a wide ambit, covering money transactions and agreements entered into by the company with at least 45...

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Moneylife Digital Team 15 September 2022
The Supreme Court (SC) has admitted a review petition filed by Axis Bank Ltd against a recent order passed in the corporate insolvency resolution process (CIRP) for Vidarbha Industries Power Ltd. The matter is listed for hearing on 19 September 2022 in open court before the bench of justice...

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IANS 14 September 2022
Soon e-commerce entities may face heavy penalty for posting fake reviews of products, as the government is finalising guidelines to curb such practices.   According to highly-placed sources, a committee formed by the department of consumer affairs is finalising changes in the norms...

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Moneylife Digital Team 14 September 2022
A Securities and Exchange Board of India (SEBI) special court has issued a bailable warrant against businessman and Sahara India Parivar founder Subrata Roy for not appearing before the court in connection with a cheating case worth more than Rs25,000 crore. Special judge VS Gaike was hearing...

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IANS 14 September 2022
E-commerce giant Amazon on Tuesday moved the Delhi High Court against an order of the Central Consumer Protection Authority (CCPA) which imposed a cost of Rs 1 lakh on it for selling sub-standard domestic pressure cookers.   The plea was listed before a bench of Justice Yashwant Varma...

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Moneylife Digital Team 13 September 2022
Madhabi Puri Buch, chairperson, Securities and Exchange Board of India  (SEBI) said a company is free to ask for a higher price when launching an initial public offering (IPO) and that the capital markets regulator has no business to suggest pricing of the initial share sale.    "A...

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IANS 13 September 2022
The bell curve appraisal system, junked by many big organisations including consultancy firm KPMG is being proposed to be implemented in General Insurance Corporation of India (GIC Re), the company unions said.   They also wondered as to how the bell curve appraisal system would be...

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Moneylife Digital Team 12 September 2022
The Securities and Exchange Board of India (SEBI) has barred Wishworth Financial Services and its proprietors Pankaj Khanchandani and Dheeraj Kapoor from the securities markets for four years and directed them to refund the money collected through unauthorised investment advisory...

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Dr B Yerram Raju Dr B Yerram Raju 12 September 2022
Ever since banks were liberalised, they got into new lines of business, looking at their fully digitised European and other Western counterparts, and embraced universal banking. This is the genesis of banks selling third-party products like insurance, mutual funds (MFs), pension funds and the...

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IANS 12 September 2022
In the first of its kind action, the Institute of Actuaries of India (IAI) sent out four members of its Managing Council ahead of its annual general meeting (AGM) and in the process, reduced the Council's size less than the statutory requirement, said senior actuaries including a former...

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Moneylife Digital Team 09 September 2022
The Directorate of Enforcement (ED) has filed 992 complaints and the value of assets it attached and confirmed by an adjudicating authority (AA) is worth Rs58,591 crore as on 31 March 2022. Further, the agency has returned to public sector banks (PSBs) and the Union government assets worth...

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Moneylife Digital Team 09 September 2022
The Securities Appellate Tribunal (SAT) has quashed the order passed by Securities and Exchange Board of India (SEBI) against a director of Falcon Tyres Ltd and a non-executive director of Dunlop India Ltd inter alia restraining them from accessing the securities market for a period of two...

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Naman Khatri  and   Jasleen Bedi (The Leaflet) 09 September 2022
The Supreme Court’s recent judgement clarifies the ambit of mandatory pre-institution mediation under the Commercial Courts Act, 2015. In spite of the court’s clear interpretation of Section 12A, there is a dire need to add teeth to this provision by introducing reforms in the mediation...

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Ranganathan V Ranganathan V 08 September 2022
A judgement of the Supreme Court (SC), dated 6 September 2022, in the case of Rainbow Papers Ltd, opens a new chapter with regard to consideration of the claims of the sovereign with regard to tax dues under the provisions of the Insolvency and Bankruptcy Code (IBC), 2016.   The Court...

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IANS 08 September 2022
While setting asidethe order of NCLT (national company law tribunal) on the appointment of CFO (chief finance officer) in RattanIndia Finance Private Limited (RFPL),  the principal bench of NCLAT (national company law appellate tribunal), in the appeal filed by Hamlin Trust and others (50%...

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