REGULATIONS


HDFC Bank has dropped the firm of S.R. Batliboi from its panel of auditors following the Reserve Bank of India's (RBI) refusal to approve the appointment and has, instead, appointed MSKA and Associates as their Statutory Auditors, the bank said on Friday.   HDFC Bank said in a stock...

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Moneylife Digital Team 06 June 2019
The Reserve Bank of India (RBI), which has been subject to criticism from the Supreme Court for not sharing information under the Right to Information (RTI) Act, has again declined to share names and designations of officials responsible for monitoring and inspecting the fraud-hit...

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Moneylife Digital Team 04 June 2019
Asia's oldest exchange BSE and its subsidiary Indian Clearing Corp Ltd (ICCL) have gone live with the interoperability framework for clearing multiple trades. On Monday, ICCL received and cleared several trades from BSE and Metropolitan Stock Exchange of India Ltd (MSE).   Ashishkumar...

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The Reserve Bank of India (RBI) on Monday barred auditing firm SR Batliboi & Company from handing audits in commercial banks for a period of one-year starting 1 April, 2019.   The action has been taken for lapses in a statutory audit assignment, RBI said in a statement. The apex bank...

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Moneylife Digital Team 29 May 2019
Clearing members have been given an extension of one month by the stock exchanges to complete the development and testing of the interoperability framework, laid down by the market regulator. The Securities Exchange Board of India had laid down the guidelines for an interoperable framework...

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CS Vinita Nair 24 May 2019
Buyback of shares is offered by the management of companies presumably with a view to maximise the value of the shareholders, reduction of surplus liquidity and similar considerations. One of the major objectives of regulations is to permit buyback for small shareholders and, therefore, even...

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The Securities Appellate Tribunal (SAT) has been granted a stay on SEBI orders in the co-location issue specifically pertaining to disgorgement order.   "The direction in impunged order relating to disgorgement by the NSE shall remain stayed during pendency of the appeal. The matter...

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The Central Bureau of Investigation (CBI) in a status report on the NSE (National Stock Exchange) co-location scam, informed the Delhi High Court on Wednesday that its investigation was not restricted to the first information report (FIR) which was initially registered.   The CBI said...

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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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