REGULATIONS


 The Supreme Court (SC) has ruled that electricity dues of the previous owner of a property can be recovered from an auction purchaser or the subsequent owner.   A bench headed by chief justice of India (CJI) DY Chandrachud and comprising justices Hima Kohli and PS Narasimha said: "A...

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US Judge Potter Stewart will be remembered for his famous definition of obscenity and pornography at a time when the US justice system was struggling to balance freedom of expression and the State’s job to maintain public decency. He quipped: “I shall not today attempt further to define the...

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The Centre on Tuesday said that the upcoming Digital India Act (DIA) will strictly deal with misinformation and 'high-risk AI' to prevent user harm, and the first draft of the Bill is expected by the first week of June.   In the second round of pre-drafting public consultations with...

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Moneylife Digital Team 24 May 2023
The National Stock Exchange (NSE) has warned investors to stay away from Vinay Agarwal of Economical Consultancy and Ashish Agarwal of Ganesh Traders, who are luring investors under the pretext of providing securities market tips for trading and assuring returns on investment in the stock...

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Moneylife Digital Team 24 May 2023
Securities and Exchange Board of India (SEBI) has imposed a fine of Rs41 lakh on Alps Motor Finance Ltd (AMFL) and Brij Bhushan Sabharwal, the company's former whole-time director and Himanshu Agarwal, former non-executive and non-independent director, for mis-utilising funds collected from...

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South Korea's antitrust regulator said on Wednesday it has decided to fine the country's three mobile carriers a combined 33.6 billion won ($25.4 million) for their misleading advertisements on the speed of the fifth-generation (5G) network services.   The move came after SK Telecom,...

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A Supreme Court (SC)-appointed expert committee could well become a preferred choice for corporate India, when faced with a major financial scandal requiring a ‘systemically important investigation’. On 6th May, an expert committee submitted a report on the Adani saga making a masterly,...

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Moneylife Digital Team 23 May 2023
Pharmaceutical company Workhardt Ltd and its founder-chairman Habil Khorakiwala, managing director (MD) Murtaza Khorakiwala and executive director (ED) Huzaifa Khorakiwala agreed to pay Rs76.68 lakh to settle a case with market regulator Securities and Exchange Board of India (SEBI). The case...

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Moneylife Digital Team 23 May 2023
The Reserve Bank of India (RBI) has imposed monetary penalty on three cooperative banks and two non-banking financial companies (NBFCs) for violating various rules and regulations prescribed by the banking regulator. Of the three banks penalised, two belong to Maharashtra, and one bank and...

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Moneylife Digital Team 22 May 2023
Market regulator Securities and Exchange Board of India (SEBI) floated a consultation paper seeking comments on the proposal to strengthen the investor grievance handling mechanism through SEBI Complaints Redressal System (SCORES) and integrate it with online dispute resolution (ODR)...

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Moneylife Digital Team 22 May 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration license of Indore-based Investment Research Advisors (IRA) and its proprietor Amit Gangrade. Last month, SEBI banned Amit Gangrade and his cousin Sudeep from markets for three years while imposing a...

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The Irish Data Protection Commission on Monday fined Meta (formerly Facebook) a record $1.3 billion fine over violating data transfer rules in the European Union (EU).   The Irish watchdog said that Meta violated the General Data Protection Regulation (GDPR) which came into force on...

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The Supreme Court (SC) hearing on Adani-Hindenburg investigation took a tantalising turn when it ended up embarrassing the finance ministry, to which Securities and Exchange Board of India (SEBI) reports.   On 15th May, SEBI claimed in Court ‘allegations’ that it has been...

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Moneylife Digital Team 20 May 2023
The justice AM Sapre expert committee appointed by the Supreme Court (SC) appears to have given a clean chit to the Securities and Exchange Board of India (SEBI) on the issue of regulatory failure while passing some strictures about the need for SEBI executives to take a constant stand on...

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Moneylife Digital Team 20 May 2023
The Reserve Bank of India (RBI) has decided to withdraw the Rs2,000 denomination banknotes from circulation as part of its 'clean note policy'. The banknotes in Rs2,000 denomination will continue to be legal tender, it added.   In a release, RBI says, "...public may deposit Rs2,000...

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The National Spot Exchange Limited (NSEL) on Friday said the special MPID Court has made India Infoline Commodities Ltd (IICL) director Nirmal Jain, Anand Rathi Commodities Ltd (ARCL) director Preeti Gupta and Geojit Comtrade Ltd (GCL) director Shiney George as accused in the NSEL payment...

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The Reserve Bank of India may cancel the licences of a few asset reconstruction companies (ARC) who had been issued show-cause notices.   RBI had earlier sent show-cause notices to a few asset reconstruction companies (ARCs), seeking answers on why their licences should not be...

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Moneylife Digital Team 18 May 2023
Recent data from the Insolvency and Bankruptcy Board of India (IBBI) March 2023 newsletter indicates a concerning trend for financial creditors (FCs) and operational creditors (OCs) in the corporate insolvency resolution process (CIRP). The realisation rate for FCs decreased to 34.2% in...

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Moneylife Digital Team 18 May 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration certificate of Allied Financial Services Pvt Ltd (AFSPL), for granting disproportionate exposure and promising assured returns to clients, misreporting data, dealing with unregistered entities and...

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Moneylife Digital Team 17 May 2023
While denying an extension till September, the Supreme Court on Wednesday asked the Securities and Exchange Board of India (SEBI) to submit an updated status report on 14 August 2023 about its probe into the Adani-Hindenburg controversy.   The apex court also directed that the copies...

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