REGULATIONS


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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New Delhi : The original promoters of home grown pharma major Ranbaxy Laboratories, that has since changed hands twice, have been slapped with a fine of Rs.2,562.78 crore by a Singapore arbitration court for allegedly misrepresenting facts during the stake sale to Daiichi...

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Moneylife Digital Team 04 May 2016
Market regulator Securities and Exchange Board of India (SEBI) has asked Tribhuvan Agro Project Ltd and the company promoters and directors to refund money collected from investors through redeemable preference shares and secured redeemable non-convertible debentures (NCDs). The refunds...

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Moneylife Digital Team 04 May 2016
SEBI probe found that the firm had mobilised at least Rs2.49 crore during 2010-14 by issuing NCDs to a large number of investors.   Market regulator Securities and Exchange Board of India (SEBI), has directed Sankalp Projects Ltd and the company's seven directors to refund investors'...

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In recent years, another item has been added to the kitty of ‘investment’ instruments—trading in commodities. But commodity trading is pure speculation and many investors have been victims of ‘investing’ in instruments of which they have no understanding and are misled by market...

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