REGULATIONS


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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Moneylife Digital Team 01 March 2019
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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Ten years ago, while discussing pervasive corruption in India, an industrialist from the engineering industry, with a very high reputation for integrity, candidly told me that ‘when it comes to my personal earnings, I am scrupulously correct, but if I insisted that my managers follow the same...

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Moneylife Digital Team 28 February 2019
SEBI has barred Phillip Commodities India from commodity broking following probe into the Rs 5,600 crore NSEL scam.   Phillip Commodities is the latest brokerage firm to feel the Securities and Exchange Board of India's (SEBI) heat. The order issued late on Wednesday declared the firm...

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IANS 26 February 2019
The Securities and Exchange Commission has asked a US federal judge to hold Tesla CEO Elon Musk in contempt for violating a settlement deal reached last year.   The development on Monday comes in response to Musk's tweet on February 19 that "Tesla made 0 cars in 2011, but will make...

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CS Vinita Nair 25 February 2019
Market regulator Securities Exchange Board of India (SEBI), vide its circular no. SEBI/HO/CFD/CMD1/CIR/P/2018/0000000149 dated 7 December 2018 (SEBI circular) has mandated listed entities to disclose the details of significant beneficial owners (SBO), while submitting the shareholding pattern...

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IANS 20 February 2019
Insurance regulator IRDAI on Tuesday issued draft guidelines for standard health product by all insurers including general and health insurance businesses.   According to the draft issued on the IRDAI website, the minimum basic sum insured under standard product has been proposed to...

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IANS 19 February 2019
IT major Infosys Ltd has paid Rs 34 lakh to settle a case related to alleged lapses regarding a severance payment done in 2015, Securities and Exchange Board of India (SEBI) said in an order.   "The proposed adjudication proceedings for the defaults... are settled," the market...

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CS Nikita Snehil 14 February 2019
The revised rules determining significant beneficial ownership (SBO) have been drastically changed by the ministry of corporate affairs (MCA) only with the intent to facilitate the implementation of the provision and to remove the practical difficulties faced by the stakeholders in complying...

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For someone who cut his teeth in the family business as the suave, media face of a large and controversial group, Anil Ambani is an amazingly angry man these days.    He is making enemies of the media, politicians and business partners with rare determination, even as the business...

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IANS 12 February 2019
Capital markets regulator SEBI on Monday granted relaxation to non-residents from furnishing PAN card details to transfer equity shares to their immediate relatives subject to conditions.   According to the SEBI, many non-residents such as Non-Resident Indians (NRIs), Overseas...

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IANS 12 February 2019
Mumbai, Capital markets regulator Sebi on Monday proposed to fix circuit filters or price bands on futures & options (F&O) scrips to curb excessive volatility.   In a discussion paper on "Applicability of Individual Scrip wise Price Bands or Circuit Filters" on F&O scrips, Sebi said:...

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