REGULATIONS


Moneylife Digital Team 23 June 2016
The second study by FTI Consulting, a global business advisory firm, shows that top 100 listed Indian companies, by market capitalisation, have made significant progress on following mandatory disclosure norms and compliance in 2015. Whilst some might say this has been forced, the improvement...

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Moneylife Digital Team 22 June 2016
Hedge-fund partner Sanjay Valvani, who was charged with insider trading last week, was found dead in what police are investigating as an apparent suicide, says a report from the Vanity Fair.   The news report quoting a spokesperson from the New York Police Department (NYPD) says...

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The capital market regulator on Tuesday approved stock market majors -- BSE and the National Stock Exchange of India (NSE) -- for launch of electronic book mechanism (EBM) for issuance of debt securities on private placement.   The Securities and Exchange Board of India (SEBI) allowed...

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Moneylife Digital Team 17 June 2016
The Department of Economic Affairs (DEA) under the Ministry of Finance says it continues to monitor progress of investigation in the Rs5,600 crore National Spot Exchange Ltd (NSEL) scam through Review Meetings. During the recently concluded meeting, it was informed that the SEBI has appointed...

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The National Company Law Tribunal (NCLT) has ordered the central government to set up a five-member committee to oversee the sale of investments of Financial Technologies (India) Ltd (FTIL). The members of the panel would be a retired Supreme Court judge, two independent directors of...

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Moneylife Digital Team 16 June 2016
Market regulator Securities and Exchange Board of India (SEBI) has barred Religare Arts Investment Management Ltd and Religare Arts Initiative Ltd (together Religare Arts) from collecting money from investors or launch any collective investment schemes (CIS). Religare Arts Investment...

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Moneylife Digital Team 15 June 2016
The Securities and Exchange Board of India (SEBI) has finally initiated approved enforcement action against New Delhi Television Ltd (NDTV) and its promoters Prannoy Roy and Radhika Roy and RRPR Holdings Pvt Ltd, for the company's failure to multiple disclosure information to...

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Moneylife Digital Team 14 June 2016
A special court in Mumbai declared business tycoon Vijay Mallya a proclaimed offender in a money laundering case following a petition by the Enforcement Directorate or ED.   Under law, the court naming somebody a proclaimed offender requires the person to appear at a specified place...

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Moneylife Digital Team 10 June 2016
Investors are advised to check the registration status of an entity/person on the SEBI (Securities and Exchange Board of India) website before availing investment advisory services/ research services. The general public has been cautioned to deal with only SEBI registered investment advisers...

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The Securities & Exchange Board of India (SEBI) has finally got around to announcing plans to force over 4,200 companies to delist from the bourses. These are companies whose shares have been suspended for over seven years by the two national exchanges (1,200 companies), or those which were...

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A year after Moneylife published a whistleblower’s letter pointing to grave issues in the way high frequency trading (HFT) was conducted at India’s largest bourse, SEBI is still discussing plans to “put in place stringent norms for high-frequency trades along with higher penalties for...

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In our country, ordinary citizens are put through the grind even for a small mistake. On the other hand, there are people who get away with even the worst crimes. Something similar had happened in the case of M/s Garima Real Estate & Allied Limited whose directors, as per the SEBI (Securities...

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Akash Karmakar 30 May 2016
The Sharepro share transfer fraud was uncovered when a complaint was filed with the Securities Exchange Board of India (SEBI) pursuant to which the market regulator initiated an investigation. Upon discovering the fraudulent transfer of shares and unclaimed dividend, SEBI, and many of the...

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The Supreme Court on Tuesday declined to entertain a plea seeking 100% cut in supply of water to the liquor industry in Maharashtra so that millions of people faced with unprecedented drought could be provided with water.   Dismissing the plea as withdrawn, an apex court vacation...

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UB Group company United Breweries Holdings Limited (UBHL) requested additional time from the BSE and NSE to submit the audited financial results for 2015-16, due to uncertainties owing to cases running against its chairman Vijay Mallya in the Supreme Court and Debt Recovery Tribunal (DRT)...

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Former finance secretary Ashok Chawla has been appointed the new chairman of the National Stock Exchange (NSE), it was announced on Friday.   Market regulator Securities and Exchange Board of India (Sebi) approved the name of Chawla, who was heading the Competition Commission of India...

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Moneylife Digital Team 11 May 2016
India has amended its 33-year old tax treaty with Mauritius that may hit investment inflows, especially considering over the past 10 years, it was nearly $81.8 billion or 34% of the total inflows routed through that country. India has signed a protocol agreement with Mauritius to prevent...

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Seeking to plug loopholes in the existing bilateral treaty that inhibit steps to curb black money, India on Tuesday said it has signed a protocol agreement with Mauritius to prevent evasion of taxes on income and capital gains by entities of either side.   "The protocol for the...

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Moneylife Digital Team 09 May 2016
The Bombay High Court while rejecting anticipatory bail applications of five accused in the multi-crore QNet scam, has observed that "the deceit and fraud is camouflaged under the name of e-marketing and business". This scheme is undoubtedly a multi-level marketing (MLM) activity and a...

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Moneylife Digital Team 06 May 2016
The Bombay High Court on Friday rejected anticipatory bail applications of five accused in the multi-crore QNet scam. This includes, Srinivas Rao Vanka and Magaral Veervalli Balaji, both directors of Vihaan Direct selling (India) Pvt Ltd, Suresh Thimiri, director of Transview Enterprises...

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