REGULATIONS


Moneylife Digital Team 31 October 2022
Market regulator Securities and Exchange Board of India (SEBI) on Friday reduced the face value of debt security and non-convertible redeemable preference shares issued on private placement basis to Rs1 lakh from the current Rs10 lakh. The move is to enhance liquidity in the corporate bond...

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Moneylife Digital Team 31 October 2022
Market regulator Securities and Exchange Board of India (SEBI) on Friday suspended the registration of Registrar to Issue and Share Transfer Agent (RTA) Satellite Corporate Services (SCS) for three months as it did not carry out its fiduciary responsibility to its client. "The Market...

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Sucheta Dalal Sucheta Dalal 28 October 2022
Developed nations of the world diligently work at ‘reuniting unclaimed financial assets with their rightful owners’, I wrote in September 2022. In contrast, rightful owners and their legal heirs (even when there is a valid Will) go through a long and tortuous process to get what is...

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Moneylife Digital Team 28 October 2022
Alleging that the regulators are joining hands with GM (genetically modified) crop developers and are seriously compromising the regulatory regime, the Swadeshi Jagran Manch has demanded that GM mustard seeds should never be allowed to be planted in India.   Dr Ashwani Mahajan,...

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Moneylife Digital Team 28 October 2022
Market regulator Securities and Exchange Board of India (SEBI) has barred Momentum Tips and its proprietor Ajay Kumar Mukhiya from the securities markets for three years for providing unauthorised investment services.   The regulator issued a show-cause notice (SCN) to Momentum Tips...

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Moneylife Digital Team 28 October 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs15 lakh on six entities in the case related to front-running trades of Deutsche Mutual Fund, now known as DHFL Pramerica Mutual Fund.    In two separate orders, Asha Shetty, adjudicating officer...

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Moneylife Digital Team 28 October 2022
Non-banking financial company (NBFC) Spandana Sphoorty Financial has settled with market regulator Securities and Exchange Board of India (SEBI) a case pertaining to alleged non-compliance with the regulatory norms after paying Rs25 lakh as a settlement amount. Spandana Sphoorty Financial...

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Moneylife Digital Team 27 October 2022
The Reserve Bank of India (RBI) has called for an additional meeting of the monetary policy committee (MPC) on 3 November 2022. In May 2022, after an unscheduled rate review meeting, MPC decided to increase repo rate by 40 basis points (bps) to 4.40% with immediate effect. This was done to...

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The Insurance Regulatory and Development Authority of India (IRDAI) on Wednesday allowed foreign reinsurance branches (FRB) and Lloyd's India to repatriate excess capital.   According to the IRDAI, to ensure sufficient reinsurance capacity in India and to attract more players for...

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Moneylife Digital Team 25 October 2022
Market regulator Securities and Exchange Board of India (SEBI) has given a clean chit to Tree House Education and Accessories and its promoters Rajesh Bhatia, Geeta Bhatia, Giridharilal S Bhatia and two other company officials. The reprieve comes six years after unsubstantiated allegations...

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The Competition Commission of India (CCI) on Tuesday slapped its second penalty on Google within a week—this time to the tune of  around US$113mn (million) (Rs936 crore)—for abusing its dominant position with respect to its Play Store policies.   Last week, the market watchdog had...

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Sucheta Dalal Sucheta Dalal 22 October 2022
Nearly 17 months after the Cabinet committee on economic affairs granted an in-principle approval, the government has finally invited potential bidders to submit expressions of interest, by end of December, to acquire a majority stake in IDBI Bank. We have already paid too high a price to...

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Moneylife Digital Team 22 October 2022
Market regulator Securities and Exchange Board of India (SEBI), while imposing a penalty of Rs1,575 crore, has barred ten entities, including Bombay Dyeing & Manufacturing Co Ltd (BDMCL) and the company promoters, from markets for up to two years. BDMCL's non-executive chairman Nusli N...

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Ranganathan V Ranganathan V 22 October 2022
Independent directors are likely to be foisted with a specific responsibility to justify the pricing in an initial public offering (IPO). This was coming, given the controversy around the pricing of certain public floats in the recent past where the shares plummeted post-listing and, in many...

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Artha Shastry 22 October 2022
The Supreme Court, on 17 October 2022, issued notices to the Reserve Bank of India (RBI) and the central bureau of investigation (CBI) on Dr Subramanian Swamy's plea seeking a probe by CBI into the alleged role of RBI nominee directors in bank loan fraud cases. This author, like many others,...

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Moneylife Digital Team 22 October 2022
The insolvency and bankruptcy code (IBC) was implemented to usher in a new era of efficient and fair bankruptcy resolution process. However, time and again, Moneylife has been highlighting how interested parties collude to game the outcome making a mockery of due process. In continuation of...

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In a significant ruling, the competition commission of India (CCI) on Thursday imposed a penalty of Rs1,337.76 crore on Google for abusing its dominant position in multiple markets in the Android mobile device ecosystem, apart from issuing a cease and desist order against the tech...

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The Competition Commission of India (CCI) on Thursday approved the acquisition of 10% stake in Yes Bank Limited by CA Basque Investments.   The proposed combination pertains to CA Basque acquiring up to 10% of the total paid up share capital and voting rights of Yes Bank, by way of...

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The competition commission of India (CCI) on Wednesday imposed penalties of Rs223.48 crore and Rs168.88 crore on MMT-Go (GoIbibo and MakeMyTrip) and OYO, respectively, for anti-competitive conduct.   The competition watchdog also directed MMT-Go to amend its market behaviour, for...

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Moneylife Digital Team 20 October 2022
Market regulator Securities and Exchange Board of India (SEBI) has allowed stockbrokers registered under the debt segment of the stock exchanges to place or seek bids on the request for quote (RFQ) platform on behalf of its clients. This will be in addition to the existing option of placing...

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