REGULATIONS


The Reserve Bank of India (RBI) failed to do any credit analysis of the top-20 borrowers of ICICI Bank, even as their share had grown to 20.30% and had exposed the Bank to increased risk. Research undertaken by Moneylife, on the other hand, indicates that RBI deliberately concealed data that...

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Hemindra Hazari 09 July 2019
On 26 June 2019, confronted with a contempt petition filed in the Supreme Court of India by Right to Information Act, 2005 (RTI) activist, Girish Mittal, the Reserve Bank of India (RBI) finally disclosed the hitherto confidential annual inspection reports, called risk assessment reports...

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After a long battle with the Reserve Bank of India (RBI) from 2016 (Finally, RBI Shares Inspection Reports of SBI, ICICI Bank, Axis Bank and HDFC Bank under RTI), Girish Mittal, a dogged Right to Information (RTI) activist, was finally granted access to bank inspection reports for four years...

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The government has asked market regulator Sebi to look at raising the minimum public shareholding level in listed companies to 35 per cent from the current 25 per cent, Finance Minister Nirmala Sitharaman said on Friday.   Presenting the Union Budget 2019-20 in Parliament, Sitharaman...

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Presenting her first Union Budget, Finance Minister Nirmala Sitharaman proposed to transfer the regulatory authority over housing finance sector to the Reserve Bank of India (RBI) from the National Housing Bank (NHB).   Sitharaman told the Lok Sabha that the housing sector needs...

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CS Vinita Nair 03 July 2019
The relevance of debt market in India and the need for companies to reduce dependence on bank loans and move to capital markets cannot be overemphasised. There have been enormous policy emphasis on this and, in fact, Securities & Exchange Board of India (SEBI) has mandated large companies...

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Moneylife Digital Team 01 July 2019
Ratings Agency ICRA Ltd says it has sent its managing director and group chief executive (CEO) Naresh Takkar on leave following concerns raised in an anonymous representation shared by market regulator Securities and Exchange Board of India (SEBI).   In a regulatory filing, the...

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CS Nitu Poddar 01 July 2019
SEBI (Prohibition of Insider Trading) (PIT) Regulations, 2015 (Regulations) are applicable in relation to securities listed and proposed to be listed.  Companies having their debentures listed are also required to comply with the provisions of the Regulations.    The intent of the...

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Aditya Joby  and   Krishna Nair 28 June 2019
New Delhi, whose lack of focus on adopting and implementing the Real Estate Regulation Act (RERA) has suddenly upped its game with a brand new website. Just a few weeks ago, Moneylife had discovered a shabby website with just 30 projects registered. This seemed surprising given that Delhi has...

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Moneylife Digital Team 27 June 2019
Market regulator Securities and Exchange Board of India (SEBI) said that mutual funds are not banks, as their main activity is investing, and not lending.   This is the main point Moneylife has been making following the standstill arrangement that mutual funds got into with Zee/Essel...

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Infrastructure Leasing and Financial Services Ltd (IL&FS) Engineering and Construction Company urged the exchanges on Wednesday to avoid coercive action against it for failing to declare its quarterly results.   The company in regulatory filing said it will be "challenging" for the...

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Despite strict direction of the Supreme Court (SC) to the Reserve Bank of India (RBI) in April 2019, to disclose annual inspection reports of banks and, in fact, to upload them on the website, the latter has smartly stonewalled a Right to Information (RTI) request to disclose the past three...

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Moneylife Digital Team 20 June 2019
Coming down heavily on the market regulator, the Securities Appellate Tribunal (SAT) has directed Securities and Exchange Board of India (SEBI) to pay Rs50,000 as cost to the appellant for an ex-parte order passed without giving due consideration to evidence and relevant...

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Moneylife Digital Team 19 June 2019
While staying an order passed by the market regulator, the Securities Appellate Tribunal (SAT) rapped Securities and Exchange Board of India (SEBI) for not following due process, like providing copies of orders to parties involved in a the case.    Coming down heavily on SEBI, the...

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The Securities and Exchange Board of India (SEBI) on Tuesday permitted stock exchanges with commodity derivative segment to introduce futures on commodity indices.   The market regulator said that it has now decided "to permit recognized stock exchanges with commodity derivative...

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The Securities Appellate Tribunal on Tuesday stayed the SEBI's order barring news channel NDTV's promoters - Prannoy Roy and Radhika Roy - from holding any key managerial positions in the board or the management of NDTV.   "..we stay the effect and operation of the impugned order...

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Krishna Nair  and   Aditya Joby 17 June 2019
The Real Estate Regulatory Authority (RERA), set up to ensure safety and security of realty transactions by mandating that people only deal with registered and regulated entities, is already being manipulated.    The game-changing RERA legislation of 2016 has been adopted by 20...

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Moneylife Digital Team 14 June 2019
An order by the Securities & Exchange Board of India (SEBI) today could see major changes in the management structure of NDTV Ltd. The market regulator, acting on a complaint filed by Quantum Securities Pvt Ltd., in 2016-17 has acted against NDTV’s famous promoters  Prannoy Roy and Radhika...

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On 11th June, the ministry of corporate affairs (MCA) moved the national company law tribunal (NCLT) with a 214-page petition to bar Deloitte Haskins & Sells (Deloitte), statutory auditors of IL&FS Financial Services (IFIN) and BSR Associates (a part of the KPMG network in India), for five...

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The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 2 crore on Kotak Mahindra Bank for not complying with the central bank's directions to furnish details of its promoter shareholding.   The bank was directed by RBI to furnish information about details of the...

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