REGULATIONS


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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Moneylife Digital Team 26 March 2019
The Supreme Court on Tuesday threatened the Reserve Bank of India (RBI) with contempt proceeding for not disclosing banks' annual inspection reports under the Right to Information (RTI) Act. In January this year, the apex court had issued a notice to the central bank on a contempt...

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Moneylife Digital Team 25 March 2019
Market regulator Securities and Exchange Board of India (SEBI) has barred 12 websites and three people behind these portals for luring investors with an assured monthly income and returns of 300% to 800% by sharing fraudulent market tips.    Entities barred by SEBI include Rishabh...

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Changes in the SEBI listing and prevention of insider-trading regulations, revisions in the double-taxation avoidance agreements (DTAAs) with Mauritius and Singapore are set to come into effect from April 1.   The changes in DTAAs give India the right to tax capital gains arising on...

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What happens when a regulator digs in its heels and takes advantage of its independence to become unaccountable, non-transparent and capricious in all its roles—such as licensing, regulating, inspecting and supervising banks and finance companies as well as trading in debt and foreign...

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Moneylife Digital Team 19 March 2019
The National Company Law Appellate Tribunal (NCLAT), on Tuesday, reportedly asked Reserve Bank of India (RBI) to clarify whether the central bank's norms and powers under the non-performing assets (NPAs) hampers successful resolution.   RBI had moved to the Tribunal seeking to modify...

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Moneylife Digital Team 11 March 2019
Market regulator Securities and Exchange Board of India (SEBI) has turned down a Right to Information (RTI) request followed up by an appeal to provide information on the documents provided by a whistleblower in the Sun Pharmaceutical matter. Interestingly, the refusal is on the grounds that...

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When the Union government promulgated The Banning of Unregulated Deposit Schemes Ordinance, 2019 (the Ordinance) a few days ago, the immediate reaction was one of dismay.    There is no denying the fact that unscrupulous people dupe the greedy and gullible by soliciting loans and...

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The city bench of the National Company Law Tribunal (NCLT) on Thursday clarified that a 51 per cent vote of the Committee of Creditors (CoC) was enough to initiate a forensic audit of an insolvent company.   Citing Section 21(8) of the Insolvency and Bankruptcy Code (IBC), the NCLT...

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Market Regulator SEBI on Friday came out with rules for providing exemption from open offer requirements for corporate debt restructuring, which will now be restricted to scheduled commercial banks and all-India financial institutions.   The decision could help the cash-strapped Jet...

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The Securities and Exchange Board of India (SEBI) on Friday allowed mutual funds (MFs) and portfolio managers to invest in commodity derivatives to strengthen the market offerings and attract more players.   "The Board deliberated and approved the proposal contained in the memorandum...

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In a bid to attract more investors to investment trusts, market regulator SEBI on Friday approved amendments to real estate investment trust (REIT) and infrastructure investment trust (InvIT) rules, giving them more flexibility to raise funds.   The Securities and Exchange Board of...

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