REGULATIONS


Dr B Yerram Raju Dr B Yerram Raju 16 January 2023
A few experiences of my well-meaning friends, who worked in responsible positions either in a regulatory institution, a bank, or a research institution, churning out data periodically left me in significant discomfort.    Gopal went to the bank to update his know-your-customer (KYC)...

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Moneylife Digital Team 16 January 2023
The likely pickup in US Federal Drug Administration (USFDA) inspections during 2023 and 2024, while having an impact on some facilities and entities in the Indian pharma industry, will be less disruptive for the sector compared to the situation during 2015-2016, says a research...

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The National Financial Reporting Authority (NFRA) has published draft requirements regarding preparation and publication of annual transparency report (ATR) by auditor and audit firms.   In accordance with Rule 8(2) of the NFRA Rule 2018, NFRA intends prescribing publication of ATR...

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NSE has cautioned investors on persons named 'Swaraj Takale', 'Sameer Narvekar' and 'Neha Narvekar' associated with entity named 'Trade with Jazz (TWJ)'.   These are operating through mobile number '8882015566' and '7507770749' and Telegram channel 'Trade with Jazz' are collecting...

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As the fight between Google and the Competition Commission of India (CCI) reaches the Supreme Court, the tech giant on Friday said India is at a juncture where the stakeholders must come together to bring down barriers to access and make safe and secure smartphones available to all, supported...

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Moneylife Digital Team 13 January 2023
Coming down heavily on the adjudicating officer (AO) of the Securities and Exchange Board of India (SEBI), the securities appellate tribunal (SAT) imposed a cost of Rs50,000 on the market regulator.    In an order issued on 6 January 2023, the bench of justice Tarun Agarwala,...

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Moneylife Digital Team 13 January 2023
While reducing penalties imposed by market regulator Securities and Exchange Board of India (SEBI) on Chennai-based GV Films Ltd, one of the securities appellate tribunal's (SAT’s) chief financial officers (CFOs) and directors has set aside a fine imposed on other non-executive directors and...

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The Leaflet 13 January 2023
Overall, 30-50 per cent seats on the board of directors at each PSB remain vacant, seriously affecting their working capacity. This at a time when PSBs are riddled with bad loans running into lakhs of crores of rupees. —- A recent research study using publicly available data reports —...

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Moneylife Digital Team 12 January 2023
Market regulator Securities and Exchange Board of India (SEBI), while imposing a penalty of Rs11.50 crore, has barred BRH Wealth Kreators Ltd (BRH) (formerly BMA Wealth Creators Ltd) and BRH Commodities Private Ltd (formerly BMA Commodities Pvt Ltd) and others from the markets for five to...

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The Bombay High Court on Wednesday quashed the Maharashtra food and drug administration's (FDA's) order cancelling the licence of pharma giant Johnson & Johnson to manufacture its baby powder from the Mulund plant.   A division bench of justice Gautam S Patel and justice Shivkumar G...

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Moneylife Digital Team 12 January 2023
As many as ten non-banking financial companies (NBFC) and one asset reconstruction company (ARC) have surrendered their certificate of registration (CoR) that was issued to them by the Reserve Bank of India (RBI). The RBI, in the exercise of powers, conferred on it under section 45-IA (6) of...

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The Central government-owned four general insurance companies are restructuring their operations based on powerpoint presentations (PPT) provided by consultancy firm EY and without getting a full report, a letter from the joint forum of the union's states.   The four public sector...

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The Supreme Court on Wednesday agreed to examine an appeal by Google against a decision by the National Company Law Appellate Tribunal (NCLAT), declining to stay a Rs 1,337.76 crore penalty imposed on it by the Competition Commission of India (CCI) for alleged anti-competitive...

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Multiple mistakes such as lack of proper communication, co-ordination, reconciliation, and confirmation resulted in a highly avoidable situation, aviation regulator DGCA noted in the incident of a Go First flight leaving behind 55 passengers in the passenger coach at Bengaluru...

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Fintech platform BharatPe on Tuesday said it has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator (PA), as it fights a fierce court battle with its former co-founder and Managing Director Ashneer Grover over a Rs 88.6 crore...

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Moneylife Digital Team 10 January 2023
Reserve Bank of India (RBI) has imposed monetary penalties on five cooperative banks citing the violation of different laws prescribed by the banking regulator. Of these, three banks are from Maharashtra while others belong to Tamil Nadu and Andhra Pradesh, respectively. RBI has levied a fine...

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Moneylife Digital Team 10 January 2023
Market regulator Securities and Exchange Board of India (SEBI), in its ongoing pursuit against illegal market advisory, has banned Apex Financial Services and its proprietor, Jyoti Kalra from the security market for the tenure of six months. In the order issued by Ananta Barua, a whole-time...

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Following two incidents of passenger misconduct in the Air India Paris-New Delhi flight on 6 December 2022, aviation regulator DGCA (director general of civil aviation) has asked the airline to maintain a database of all unruly passengers.   It also asked the airline to refer the...

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Aviation regulator DGCA on Monday said that the response of Air India has been lackadaisical and delayed with regard to two incidents of passenger misbehaviour occurring on Air India flight AI-142 on from Paris to New Delhi on December 6, 2022.   The DGCA on Monday said that Air India...

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The Asia Internet Coalition, that has Meta, Amazon, Twitter, Google and other Big Tech companies as its members, has raised questions on the digital competition law recommended by the Parliamentary Standing Committee on Finance, that "may dampen digital innovation in India".   In a...

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