REGULATIONS


Moneylife Digital Team 27 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of Fairwealth Securities Ltd (FSL) for flagrant violations of the provisions governing the functioning of a stockbroker, failing to carry out fiduciary responsibilities and showing deep apathy...

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“Congratulations on your new start up!”   “Congratulations!! Few More Things For Your New Venture!!”   Isn’t this a wonderfully welcoming way to receive an announcement that your company has been registered? But hang on. You have got it all wrong. This is, indeed, the first...

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Moneylife Digital Team 26 July 2023
Announcing moving to a trading+1 (T+1) settlement cycle from the existing T+2 for all scrips from 1 October 2023, market regulator Securities and Exchange Board of India (SEBI) says it is working on instant settlements of transactions in stock markets and, according to its chairperson, the...

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The Lina Khan-led Federal Trade Commission (FTC) in the US is reportedly finalising a massive anti-trust lawsuit against Amazon, a move that could break up parts of the e-commerce giant.   According to a report in Politico, citing people close to the matter, the “wide-ranging lawsuit...

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The directorate general of civil aviation (DGCA) has suspended the licences of an IndiGo captain for three months and a co-pilot for one month following an incident involving a tail strike during landing at the Ahmedabad airport, a senior official told IANS.   The suspension comes as...

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Moneylife Digital Team 25 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of Roongta Rising Stock Pvt Ltd for one year for indulging in manipulation, malpractices and failing to comply with statutory requirements, including trading in a suspended security and issuing fake...

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Moneylife Digital Team 25 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has suspended for three months the registrations of Nortel Vincom Pvt Ltd and Northeast Commodities Pvt Ltd for their involvement in illegal paired contracts on the now-defunct National Spot Exchange Ltd (NSEL).   In two...

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Moneylife Digital Team 24 July 2023
Reserve Bank of India (RBI), responding to a Right to Information (RTI) query, says during the financial year (FY) 2022-23, banks in the country wrote off bad loans worth Rs2.09 lakh crore, taking the total write-off by the banking sector to Rs10.57 lakh crore during the past five years, says...

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Auditors are supposed to be the eyes and ears of the non-promoter investors who have otherwise no means of finding out what is cooking in any company which they have trusted their hard-earned savings with.   Equally, the regulators seek assurance from the certification by the auditors...

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Moneylife Digital Team 24 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled registrations of Progressive Comtrade Pvt Ltd for dealing in or facilitating paired contracts on the National Spot Exchange Ltd (NSEL) platform.   In an order, VS Sundaresan, executive director (ED) of SEBI,...

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Moneylife Digital Team 24 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of Integrated Data Management Services (P) Ltd, formerly known as Integrated Registry Services Ltd for three months for facilitating the sale of paired contracts on the now defunct...

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Moneylife Digital Team 21 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the stock broker license of Leo Global Commodities Pvt Ltd for dealing in or facilitating paired contracts on the National Spot Exchange Ltd (NSEL) platform. Leo Global Commodities has been asked to allow its...

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In order to ensure adequate availability of non-Basmati white rice in domestic markets and prevent its prices rising, the Centre on Thursday prohibited its export with immediate effect.   However, there is no change in export policy of non-Basmati rice (parboiled rice) and Basmati...

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Shree Cement on Wednesday received a letter from the office of regional director (NWR), ministry of corporate affairs (MCA), informing about order of inspection under Section 206(5) of the Companies Act, 2013.   Shree Cement will comply with the directions, the company said in a...

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Moneylife Digital Team 20 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of Fairwealth Commodity Broking Pvt Ltd (FCBPL) in the commodity derivative segment for flagrant violation of the provisions governing the functioning of a stockbroker and deep apathy towards the...

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Moneylife Digital Team 20 July 2023
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Bijnor, Uttar Pradesh-based United India Cooperative Bank Ltd due to inadequate capital and poor earning prospects of the lender. RBI has asked the Bank to stop banking business from 19 July 2023.   RBI...

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Moneylife Digital Team 19 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of Shri Parasram Commodities Pvt Ltd (SPCPL) for dealing in or facilitating paired contracts on the National Spot Exchange Ltd (NSEL) platform.   In an order, Anand R Baiwar, executive...

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Loan write-offs by government-owned and private banks have shown a phenomenal increase, contrary to the government claims, said People's Commission on Public Sector and Public Services (People's Commission).   Opposing the Reserve Bank of India's (RBI) statement on allowing compromise...

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Moneylife Digital Team 18 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has banned Fincap Research Investment Advisor for two years for violating rules and regulations for investment advisories (IAs) and charging exorbitant fees from investor-clients. It also levied a penalty of Rs14 lakh on Sonika...

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Moneylife Digital Team 17 July 2023
While imposing a penalty of Rs1.66 crore, the member and core settlement guarantee fund committee (MCSGFC) of the National Stock Exchange of India Ltd (NSE) barred Angel One Ltd, formerly known as Angel Broking, from on-boarding new authorised persons (APs) for six months. The action was...

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