REGULATIONS


Moneylife Digital Team 29 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs30 lakh on five people for indulging in stock manipulation in the scrip of Exdon Trading Co Ltd (ETCL). The SEBI investigation revealed that, without any noteworthy incident, the ETCL scrip jumped to...

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Moneylife Digital Team 29 December 2022
The Securities and Exchange Board of India (SEBI) has issued a regulatory framework for index-providers to strengthen transparency and accountability in administering benchmark indices.    Under the new framework, index-providers offering indices for use in India need to be registered...

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TruthInAdvertising.org 29 December 2022
In the last five years, consumers have reported losing more than $2 billion to government and business imposter scams. A proposed rule seeks to put some of those dollars back in the pockets of consumers.   On Friday, TINA.org filed a comment in support of the FTC’s proposed Rule on...

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Moneylife Digital Team/IANS 28 December 2022
The Securities and Exchange Board of India (SEBI) has released a list of nine defaulters who have failed to pay up penalties imposed by the regulator. The list, published by SEBI, is different from the list of corporate bank defaulters. Several companies mentioned in the SEBI list have...

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Moneylife Digital Team 28 December 2022
To streamline reporting, enhance efficiency and automate the payments fraud management process, the Reserve Bank of India (RBI) has decided to migrate the fraud reporting module to DAKSH – its advanced supervisory monitoring system from 1st January. This reporting was earlier facilitated...

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Moneylife Digital Team 27 December 2022
In an important judgement, the Jaipur bench of the national company law tribunal (NCLT) ruled that once an order is passed for liquidation or a corporate debtor, the enforcement directorate (ED) cannot attach the company properties under the PMLA (Prevention of Money Laundering Act). The case...

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Moneylife Digital Team 27 December 2022
The Securities and Exchange Board of India (SEBI) has issued an order to attach the bank and demat accounts of Sahara group companies, its chief Subrata Roy and others to recover Rs6.42 crore for violating regulatory norms in the issuance of optionally fully convertible debentures (OFCDs). In...

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Moneylife Digital Team 27 December 2022
The national company law appellate tribunal (NCLAT) has upheld the Rs873-crore penalty imposed by fair trade regulator CCI (competition commission of India) on United Breweries and other beer-makers.   A two-member bench comprising justices Rakesh Kumar and Ashok Kumar Mishra said...

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Moneylife Digital Team 27 December 2022
Market regulator Securities and Exchange Board of India (SEBI) seems to take illegal investment advisory firms to the task and is punishing them and their owners and partners. In the latest order, SEBI has asked Capproin Financial Advisory Services and its partners Sourabh Rai and Jasmeet...

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Moneylife Digital Team 26 December 2022
Capital market regulator Securities and Exchange Board of India (SEBI) on Friday said it has initiated a detailed study of fees and expenses charged by mutual funds (MFs). The study would endeavour to provide data as input for policy formulations, SEBI said in a statement.   The...

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Moneylife Digital Team 26 December 2022
CG Power and Industrial Solutions Ltd (CGPISL), previously known as Crompton Greaves Ltd, has been imposed with a fine of Rs5 lakh by market regulator Securities and Exchange Board of India (SEBI) for not disclosing loan default on due dates.   In a 17-page order issued last week, G...

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Moneylife Digital Team 26 December 2022
Market regulator, the Securities and Exchange Board of India (SEBI), has banned Capital Solutions and its proprietor Manish Dubey and Narendra Madan Rathod, proprietors of Moneytree Research and also imposed penalties on them. The firm and their owners were found providing investment advisory...

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Sucheta Dalal Sucheta Dalal 23 December 2022
KPMG India settled a proceeding before the US Public Company Accounting Oversight Board (PCAOB) on 6 December 2022; but there is barely any coverage by the Indian media. PCAOB, which audits public companies, censured KPMG Assurance and Consulting Services LLP (KPMG India) and the engagement...

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Debashis Basu Debashis Basu 23 December 2022
Last week, finance minister Nirmala Sitharaman told the Rajya Sabha that scheduled commercial banks have written off Rs10 lakh crore of bad loans in five years and that only 13% of the write-off has been recovered. Separately, the cumulative recovery of bad loans through the Insolvency and...

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Moneylife Digital Team 23 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs45 lakh on Naresh Mehta and Pallavi Mehta for insider trading in the scrip of Deepak Fertilizers Petrochemical Corp Ltd (DFPCL). Naresh Mehta is a cousin of Sailesh Mehta, chairman and managing director...

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Yogesh Sapkale Yogesh Sapkale 23 December 2022
City Union Bank Ltd says on-site inspection for supervisory evaluation (ISE) for the financial year (FY)21-22 by the Reserve Bank of India (RBI) found a divergence in an additional gross non-performing asset (NPA) amounting to Rs259 crore. Interestingly, when Moneylife reported poor...

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Akshay Naik 23 December 2022
In India, housing is a subject on which states have the exclusive right to legislate, although the Union government does have the power to guide the states with a model law on rent control or tenancy. At present, nearly every state has its own laws governing matters relating to rental housing...

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Moneylife Digital Team 23 December 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a total penalty of Rs13.15 crore on eight promoters of Koffee Break Pictures Ltd for failing to disclose an increase in promoter’s stake beyond the limit of 15%. The fines (to be paid jointly and severally) have been...

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IANS 23 December 2022
The real estate regulatory authority (RERA), Gurugram, has imposed a penalty of Rs 25 lakh each on five builders for failing to complete the projects within their respective declared timelines which violates the provisions of the RERA Act 2016.   The authority has imposed a penalty of...

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Moneylife Digital Team 22 December 2022
The National Dairy Development Board (NDDB), founded by Dr Verghese Kurien in 1965, is credited with pioneering the farmer cooperatives movement in the country. Over time, NDDB has grown so big that the Union government seems to have lost sight or maybe control of the Board. Currently, there...

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