REGULATIONS


Akshay Naik 08 May 2023
Transparency in the real estate sector is crucial to protect the interest of home-buyers and ensure a trustworthy and reliable market. The Real Estate (Regulation and Development) Act, 2016 (RERA) was introduced in India to regulate the real estate sector and bring transparency,...

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Moneylife Digital Team 08 May 2023
Reserve Bank of India (RBI) has imposed a fine of Rs2 lakh on Thrissur, Kerala-based Trichur Urban Cooperative Bank Ltd for non-compliance with directions issued by RBI on the management of advance for urban cooperative banks (UCBs).   In a release, RBI says its inspection report of...

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Practising professionals like chartered accountants (CA), company secretaries (CS) and cost and works accounts (CWAs) would come under the Prevention of Money Laundering Act (PMLA) if they execute financial transactions on behalf of their clients. Last week, the ministry of finance (MoF)...

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Consumer affairs ministry sources said that there is a lot of confusion over the fact that compulsory hallmarking is going to come into effect from 1st July on gold bullion, which is not the case.   "Mandatory hallmarking is not going to come into effect from 1st July onwards for gold...

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At a press conference on 29th March, Madhavi Puri Buch, chairperson of the Securities and Exchange Board of India (SEBI), made a bold pledge that has gone viral. She declared, “There will not be another Karvy issue in our capital markets... If another Karvy-like instance happens, it will be...

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When a majestic building stood up erect in a conspicuous part of the town at the dawn of the current millennium, it did herald a new landmark of Chennai. Hotel Royal Le Meridien became the chosen destination for conferences and banquets with its large campus for quite some time.   Its...

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Moneylife Digital Team 06 May 2023
Despite over 30 broker defaults at the National Stock Exchange (NSE) in the past few years and a massive scandal involving its co-location services (Colo), the capital market regulator is fighting tooth and nail to deny access to annual inspection reports (AIRs) of the NSE and the Bombay...

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In view of some videos posted on YouTube channels claiming that all Indian spices contain cow dung and cow urine, the Delhi High Court has ordered Google to take them down.   These videos targeted several Indian brands, including 'Catch Foods'.   Justice Sanjeev Narula of the...

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The national company law tribunal (NCLT) on Thursday reserved its order on the cash-strapped airline Go First's plea seeking voluntary insolvency resolution proceedings.   A two-member bench headed by president, justice Ramalingam Sudhakar after a day-long hearing, reserved its order...

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Moneylife Digital Team 04 May 2023
Reserve Bank of India (RBI) has imposed monetary penalties on eight cooperative  banks citing the violation of various rules and regulations. Of these eight banks penalised by RBI, three belong to Maharashtra, two to Gujarat, and one each from Chhattisgarh, West Bengal and Uttar Pradesh. RBI...

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Moneylife Digital Team 03 May 2023
While setting aside an order of the Bombay High Court (HC), the Supreme Court clarified that resignation does not mean that proceedings against an auditor before the national company law tribunal (NCLT) under Section 140(5) will end. The HC had quashed a complaint filed by the serious fraud...

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Moneylife Digital Team 03 May 2023
Coming down heavily on the adjudicating authority (AA) under the Prevention of Money Laundering Act (PMLA), the Delhi High Court (HC) warned against repeated use of templated paragraphs and disconcerting language, frowned upon by the HC, in orders passed by the AA of PMLA.   In an...

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Moneylife Digital Team 02 May 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs10 lakh on Angel Broking Ltd for negligence in providing data during inspection and non-compliance with rules and regulations.   In an order, Amit Kapoor, adjudicating officer (AO) of SEBI, says,...

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In the first case of a Big Tech giant paying a heavy penalty to the Indian regulators as the government aims to bring in an inclusive Digital India Act (DIA), Google has paid the entire penalty amount of Rs1,337.76 crore imposed by the competition commission of India (CCI) in the Android...

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Moneylife Digital Team 02 May 2023
The National Stock Exchange (NSE) has warned investors about two people Suresh Jani and Vishnu Darak, who are luring investors with illegal dabba trading in the stock markets.    In two separate releases, the Exchange says, "A person named Suresh Jani, operating through +91-...

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Moneylife Digital Team 27 April 2023
Taking stern action against two chartered accounts (CAs) and an audit firm in the matter of Coffee Day Enterprises Ltd (CDEL) and its subsidiaries Mysore Amalgamated Coffee Estate Ltd (MACEL) and Tanglin Developments Ltd (TDL), the national financial reporting authority (NFRA) has imposed a...

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Moneylife Digital Team 27 April 2023
While imposing a penalty of Rs5.83 crore and directing disgorgement of unlawful gains earned through stock recommendation using the chat app Telegram, market regulator, the Securities and Exchange Board of India (SEBI) has barred six persons from the markets for one year to three years. SEBI...

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India's aviation regulator, the Directorate General of Civil Aviation (DGCA) has ordered Air India to de-roster its entire crew following an incident on a Dubai-Delhi flight on February 27.   In the incident, the pilot allegedly had entertained a female friend, who had entered in the...

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Moneylife Digital Team 26 April 2023
Market regulator Securities and Exchange Board of India SEBI has barred stock brokers (SBs) and clearing members (TMs) from pledging clients' funds with banks to obtain bank guarantee (BG) for clearing corporations from 1 May 2023. It also asked them to close existing BGs created with the...

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Moneylife Digital Team 26 April 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1.50 lakh on Karvy Capital Ltd (KCL) for failing to make timely discloses in the matter of non-convertible debentures (NCDs) issued by Utkarsh Small Finance Bank Ltd (USFB).   In an order,...

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