REGULATIONS


Moneylife Digital Team 20 May 2019
The principal bench of the National Company Law Tribunal (NCLT) has directed market regulator Securities and Exchange Board of India (SEBI) to de-attach the properties of a corporate debtor attached during its execution proceedings. The matter brings into focus the issue of the in-built...

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NSE will appeal against a Sebi order in the co-location issue in which it has been penalised up to Rs 1,000 crore and barred from approaching market for the next six months at the Securities Applleate Tribunal (SAT).   When contacted, NSE spokesperson declined to comment. The exchange...

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The National Stock Exchange (NSE) on Wednesday imposed fines and issued notices to 250 companies for not adhering to the Listing Obligations and Disclosure Requirements (LODR).   Among the companies penalised, were the grounded Jet Airways, subsidiary companies of the crisi-riddenn...

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Moneylife Digital Team 08 May 2019
The office of the Banking Ombudsman (BO) has disposed of more than 60% of the complaints through mutual settlement or agreement and has issued awards in only 0.2% or 148 cases out of the 83,532 maintainable cases, reveals a report from the Reserve Bank of India (RBI).   As per the...

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Moneylife Digital Team 07 May 2019
As elaborated in our three parts series, the Reserve Bank of India (RBI) indeed seems to have helped the promoter of a defaulting company to get a licence to start a non-banking finance company (NBFC) through the takeover route. The defaults of RattanIndia Power Ltd worth Rs12,000 crore were...

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Proxy advisory and corporate governance firm InGovern on Tuesday said that Britannia Industries Ltd violated market regulator Sebi's listing regulations by not reporting the recent arrest in Japan of its promoter Ness Wadia.   Ness Wadia, son of industrialist Nusli Wadia, was handed a...

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Moneylife Digital Team 06 May 2019
The Securities Appellate Tribunal (SAT) has stayed orders passed by market regulator Securities and Exchange Board of India (SEBI) against three brokerages and three senior officials of the National Stock Exchange (NSE) in the NSE co-location (Colo) or algo trading scam. However, the Tribunal...

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Two years after the Real Estate (Regulation and Development) Act was enacted, the implementation of the legislation intended to bring about transparency and regulate the highly unorganised real estate sector still remains a work in progress.   The RERA rules have been notified in 22...

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Moneylife Digital Team 03 May 2019
Market regulator SEBI has relaxed its order issued against OPG Securities Pvt Ltd and its three directors in the National Stock Exchange (NSE) algo scam case to allow the broker close its open positions in the futures and options (F&O) and currency derivatives segment. In a similar order,...

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Moneylife Digital Team 03 May 2019
In two separate orders in the Algo-scandal investigation, the Securities and Exchange Board of India (SEBI) has indicted well-known market economist Ajay Shah and Suprabhat Lala, a senior official of the National Stock Exchange (NSE).   The order says a private firm of Sunita Thomas...

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Has the Securities and Exchange Board of India (SEBI) let off the National Stock Exchange (NSE) rather lightly for its series of reckless behaviour in what is called the algorithm (algo) scam? Or is the Rs1,100-crore penalty (including interest for five years) imposed on India’s leading...

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Moneylife Digital Team 02 May 2019
Following its investigation of a whistleblower’s complaint, market regulator Securities and Exchange Board of India (SEBI) has established the nexus between senior officials of the National Stock Exchange of India Ltd (NSE) and Sampark Infotainment Pvt Ltd, which was allowed to provide...

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Moneylife Digital Team 02 May 2019
Following the order from market regulator SEBI in the NSE algo scam, Ravi Narain, former managing director and chief executive (CEO) and later vice chairman of the Exchange, has resigned from the board of directors of two listed companies: automaker Escorts Ltd and agro-chemical company PI...

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Moneylife Digital Team 30 April 2019
In five separate orders, the Securities and Exchange Board of India has slammed the National Stock Exchange (NSE), it’s two controversial, former managing directors Ravi Narain and Chitra Ramkrishna and a host of other entities including Professor Ajay Shah and his sister-in-law Sunita Thomas...

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Moneylife Digital Team 29 April 2019
The Delhi High Court will hear a public interest litigation (PIL) on Tuesday related with over Rs50,000 crore National Stock Exchange (NSE) co-location scam, says a report.   According to the report from Hindu Business Line, the PIL came from a complaint filed by Central Bureau of...

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The Reserve Bank of India (RBI) on Wednesday directed banks and financial institutions to disclose their outstanding to IL&FS and its group companies including provisioning required as per income recognition and asset classification (IRAC) and actual provisioning made against...

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Moneylife Digital Team 02 April 2019
The Supreme Court on Tuesday struck down as ultra vires, the controversial circular issued by Reserve Bank of India (RBI) that mandated resolution of loans of Rs2,000 crore and above even for a default of a single day within the window of 180 days.    The RBI circular had said that in...

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Nikita Snehil  and   Shaifali Sharma 29 March 2019
The basic principle behind the issuance of shares with differential voting rights, commonly known as ‘DVRs’ in India and dual class shares or ‘DCS’ in the international context, is to enable the companies to raise capital without dilution of control and decision-making power in...

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Moneylife Digital Team 28 March 2019
Market regulator Securities and Exchange Board of India (SEBI) has clarified that investors can continue to hold shares in physical format after 1 April 2019. However, transfer can take place only for shares that are dematerilised, it added.   In a statement, SEBI says, "...investor...

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Moneylife Digital Team 27 March 2019
The Union government has refused to share details under Right to Information (RTI) Act on appointment of Shaktikanta Das as governor of Reserve Bank of India (RBI), says a report.     Replying to an RTI query, the government has declined to share the details, including names of...

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