REGULATIONS


On 29th March, the press information bureau (PIB) issued an unusual press release about a Supreme Court (SC) order in a public interest litigation (PIL) seeking refund of money deposited with four cooperative societies set up by the notorious Sahara Pariwar. The release declared that the SC...

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Moneylife Digital Team 08 April 2023
Angel One Ltd (Angel) has emerged as one of the largest brokers in India. Quarter after quarter, it is reporting an excellent number of new client registrations and a large market share. However, its supervision and compliance practices seem to be lacking. Documents accessed by Moneylife show...

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Shrirang V Samant 08 April 2023
Where there is insurance, can commission be far behind? Nothing wrong with it, since commission is essentially the distribution cost of the business. Just like any other product, insurance relies a great deal on distribution efficiency and the front end of insurance distribution—be it an...

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Moneylife Digital Team 07 April 2023
Reserve Bank of India (RBI) has imposed monetary penalties on Mahindra & Mahindra Financial Services Ltd, Indian Bank and Muthoot Money Ltd for non-compliance with multiple laws prescribed by the apex bank. RBI levied a penalty of Rs6.77 crore, the highest among the three, on Mahindra &...

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Moneylife Digital Team 07 April 2023
National consumer dispute redressal commission (NCDRC) has ordered New Delhi-based Godrej Properties Ltd to refund Rs1.07 crore to the home-buyer Sanjay Vijay as the developer failed to hand over the possession of the apartment within the stipulated time.    In the order, the bench of...

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The Supreme Court on Thursday said that four judicial members of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), who were due to retire between April and May, will remain in service till the court decides pleas challenging provisions of the Tribunals Reforms Act,...

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Moneylife Digital Team 06 April 2023
While restricting investment advisers (IAs) and research analysts (RAs) from using its logo, market regulator Securities and Exchange Board of India (SEBI) asked them to also prominently display contact details, registration number, information about compliance officer and a disclaimer. "SEBI...

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Moneylife Digital Team 06 April 2023
National Stock Exchange (NSE) has issued a warning about one Kirti Patel, an unregistered investment advisor, and Decent Wealth Management and Money Forest, the two firms he is associated with for luring investors with .   In a release, NSE says, "It has been brought to the notice of...

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Moneylife Digital Team 06 April 2023
Market regulator Securities and Exchange Board of India (SEBI) has barred Course Work Focus and its proprietor Shashank Hirwani for six months for providing investment advisory services illegally. The firm and its proprietor are also directed to refund the money collected from clients as...

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At total of 32 brokers have been declared defaulters by the National  Stock Exchange (NSE) during the past five years, the Parliament was told on Monday.   Market regulator the Securities and Exchange Board of India (SEBI), along with the exchanges, conducts regular inspection of...

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Moneylife Digital Team 04 April 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs5 lakh on Videocon group founder Venugopal Dhoot for not making disclosures of his interests (shares) in Supreme Energy Private Ltd (SEPL) at the time of grant of loan by Videocon to SEPL.    In the...

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The US Centers for Disease Control and Prevention (CDC) has flagged concern over the use of an Indian eye drop that is causing death and blindness among its citizens.   However, the Tamil Nadu drugs control said there is no contamination, according to media reports.   The CDC...

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Moneylife Digital Team 03 April 2023
Market regulator Securities and Exchange Board of India (SEBI) has banned three individuals for engaging in insider trading in the scrip of Zee Entertainment Enterprises (ZEEL). While imposing a penalty of Rs90 lakh on the three, SEBI also impounded 'ill-gotten' gains worth Rs7.52 crore and...

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Moneylife Digital Team 03 April 2023
Market regulator Securities and Exchange Board of India has imposed a fine of Rs51 lakh on four for insider trading in the TV Vision Ltd (TVVL) scrip. Those fined by SEBI include TVVL, the company’s promoter-director Markand Adhikari, its chief financial officer (CFO) Anand Shroff and his...

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When the finance ministry admits in Parliament that banks have written off a stunning Rs10.09 lakh crore in just five financial years (FY17-18 to FY21-22), there cannot be any public sympathy for corporate defaulters. Especially when the government also admits that it infused Rs2.76 lakh...

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About the worst experiences, we have as consumers, are with banks and financial services. False promises in equity and insurance investment schemes, harmful outcomes from traditional insurance products and getting locked into products you cannot get out of, are routine, as is mis-selling by...

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Moneylife Digital Team 31 March 2023
Updated at 12.50pm on 29 March 2023 to add NPCI's statement   The National Payments Corporation of India (NPCI) has suggested unified payments interface (UPI) transactions made via prepaid instruments like wallets, or cards should carry an interchange fee of 0.5% to 1.1% for...

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Moneylife Digital Team 31 March 2023
The Supreme Court on Wednesday allowed an application filed by the Union government seeking Rs5,000 crore allocation to pay back to the depositors of the Sahara group of cooperative societies out of the nearly Rs25,000 crore deposited with market regulator Securities and Exchange Board of...

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Moneylife Digital Team 31 March 2023
While imposing a penalty of Rs32 lakh, market regulator Securities and Exchange Board of India (SEBI) directed Apex Frozen Foods Ltd (AFF)’s promoter, chairman, and managing director (CMD) Satyanarayana Murthy Karuturi, his wife and promoter Padmavathi and their son in law Ravi Kanth...

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Moneylife Digital Team 31 March 2023
While allowing the presence of a lawyer at a visible but not audible distance, the Bombay High Court (HC) clarified that the customs department could only seize and confiscate goods or movable property but not immovable property during the investigation stage.    In an order last...

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