REGULATIONS


Moneylife Digital Team 25 July 2016
The Economic Offences Wing (EOW) of Mumbai police has attached assets worth Rs7,063 crore belonging to Financial Technologies India Ltd (FTIL), owned and founded by Jignesh Shah, an official statement said on Sunday.   "So far, 831 properties worth Rs7,063 crore have been attached by...

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Moneylife Digital Team 22 July 2016
Minority shareholders of Ricoh India Ltd (Ricoh India), the subsidiary of Ricoh Japan (Ricoh Japan or parent) have requisitioned an extraordinary general meeting (EGM) on 5 August 2016, under section 100(2) of Companies Act 2013. The agenda is primarily to remove UP Mathur, RK Pandey, Ashish...

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 A rise in financial frauds has become one of the sore points for foreign investors and needs to checked by a global standard regulatory framework coupled with the companies' in-house mechanisms, a study has said.   "With the increased prevalence of fraud and the negative consequences...

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Moneylife Digital Team 20 July 2016
Elder Pharmaceuticals Ltd, infamous for its continuous defaults and fraudulent ways to manage the authorities, is again in the news. While the pharma company makes its corporate fixed deposits (FDs) holders run from pillar to post, the Central Bureau of Investigation (CBI) has alleged in a...

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The Economic Offences Wing of Mumbai police has attached assets worth Rs 2,000 crore belonging to Financial Technologies India Ltd (FTIL), owned and founded by Jignesh Shah, official sources revealed.   The assets, which include FTIL's headquarters renamed 63 Moons, have been seized...

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Moneylife Digital Team 15 July 2016
The Securities Appellate Tribunal (SAT) delivered a hard and embarrassing rap to a Whole Time Member (WTM) of the Securities and Exchange Board of India (SEBI) for its apathy and giving a run around to the appellant. SEBI has been also directed to pay Rs1 lakh as cost to the appellant....

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The Supreme Court will hear on July 18 a plea by a consortium of banks led by the State Bank of India that beleaguered liquor baron Vijay Mallya has not complied with its April 7 order asking him to fully disclose assets held by him and his family.   The bench of Justice Kurian Joseph...

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Moneylife Digital Team 07 July 2016
The BSE has declared Kassa Finvest Pvt Ltd as defaulter, under Rules, Bye-laws and Regulations of the Exchange, for the trading member's failure to settle the claims of the clients. Earlier in May 2015, the Exchange had expelled Kassa Finvest.   In a release, BSE also asked investors...

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Moneylife Digital Team 04 July 2016
Midas Touch Investors' Association (Midas Touch), a well-known investor organisation, has requested market regulator Securities Exchange Board of India (SEBI) to disgorge all assets of 692 companies, identified as 'vanishing companies' by regional stock exchanges (RSEs) and of their...

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 A Mumbai Special Court on Wednesday ordered Vijay Mallya, head of the defunct Kingfisher Airlines, to appear before it on July 29 regarding money laundering cases filed against him.   Special Judge P.R. Bhavake told Mallya, now in Britain, to appear before him at 11 a.m. on July...

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Moneylife Digital Team 28 June 2016
New Delhi Television Ltd (NDTV), which has made several disclosures to bourses based on action pursued against it by investigation agencies, has also proffered some advice to stock exchanges in its latest disclosure dated 27 June 2016. This is based on specific queries sent to the NDTV on...

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Moneylife Digital Team 27 June 2016
Even as Securities Exchange Board of India (SEBI) announced that the Lodha Committee had collected a large number of documents related to the PACL Ponzi scheme, class action lawyers in Australia have gone a little further in securing the rights of 50,000 Indian investors by filing caveats in...

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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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