REGULATIONS


Moneylife Digital Team 10 January 2023
Market regulator Securities and Exchange Board of India (SEBI), in its ongoing pursuit against illegal market advisory, has banned Apex Financial Services and its proprietor, Jyoti Kalra from the security market for the tenure of six months. In the order issued by Ananta Barua, a whole-time...

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IANS 10 January 2023
Following two incidents of passenger misconduct in the Air India Paris-New Delhi flight on 6 December 2022, aviation regulator DGCA (director general of civil aviation) has asked the airline to maintain a database of all unruly passengers.   It also asked the airline to refer the...

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IANS 09 January 2023
Aviation regulator DGCA on Monday said that the response of Air India has been lackadaisical and delayed with regard to two incidents of passenger misbehaviour occurring on Air India flight AI-142 on from Paris to New Delhi on December 6, 2022.   The DGCA on Monday said that Air India...

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IANS 09 January 2023
The Asia Internet Coalition, that has Meta, Amazon, Twitter, Google and other Big Tech companies as its members, has raised questions on the digital competition law recommended by the Parliamentary Standing Committee on Finance, that "may dampen digital innovation in India".   In a...

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Last week, I wrote about how banks basically accept meaningless personal guarantees from industrialists or their group companies which can never be effectively invoked. I specifically mentioned the massive personal guarantees of Rs11,000 crore-Rs12,000 crore from Venugopal Dhoot of Videocon,...

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Akshay Naik 06 January 2023
India has continued to struggle with the challenge of inadequate housing amidst rapid urbanisation and worsening urban poverty. Over the years, government policies have failed to fill the gap, focused as they are on only ownership housing while neglecting rental housing. Additionally, despite...

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Shrirang V Samant 06 January 2023
A recent headline—“LIC may look at entering health, non-life insurance businesses” must have caught the eye of any alert reader. The genesis of this development lies in the proposed amendment to the Insurance Act 1938 which seeks to do away with different licences for different classes of...

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IANS 06 January 2023
Microsoft has removed an aggressive argument against the U.S. Federal Trade Commission (FTC) it made last month, as the agency sued the tech giant for acquiring leading video game developer Activision Blizzard, the media reported.   According to Axios, Microsoft said it made a...

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IANS 06 January 2023
India's aviation regulator DGCA has said that the conduct of Air India in the case related to Mumbai businessman urinating on a female co-passenger on board an international AI flight on November 26 last year was unprofessional and has led to a systemic failure.   Observing that...

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Moneylife Digital Team 05 January 2023
The 22 offices of RBI ombudsman (ORBIOs) have disposed nearly 98% of the complaints, the majority of them (63.63%) through mutual settlement or agreement and issued awards in 0.01% or 33 cases, reveals a report from the Reserve Bank of India (RBI). The annual report is for 12 months till...

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Moneylife Digital Team 05 January 2023
Confirming information published by Moneylife on bank know-your-customer (KYC), the Reserve Bank of India (RBI) clarified that if there is no change in KYC information, a self-declaration from the individual customer is sufficient to complete the re-KYC process.    In a release, RBI...

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Moneylife Digital Team 05 January 2023
The national company law appellate tribunal (NCLAT), while affirming findings by the competition commission of India (CCI) against manufacturers of liquified petroleum gas (LPG) cylinders, has asked the CCI to re-compute or review its penalties after hearing all the parties.    In an...

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IANS 05 January 2023
France's data protection regulator has fined Apple $8.5 million for not seeking users' prior consent before filing and/or to write ad identifiers used for advertising purposes on their devices.   Following a complaint relating to the "personalisation processing of advertisements...

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Moneylife Digital Team 04 January 2023
While rejecting a plea filed by Google seeking a stay, the national company law appellate tribunal (NCLAT) has asked the company to deposit 10% of the Rs1,337 crore penalty imposed by the competition commission of india (CCI). In October last year, CCI penalised Google for abusing its...

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Moneylife Digital Team 04 January 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs6 lakh on Prashanth Gole, proprietor of Capital Grow Financial Services, for failure to resolve grievances, misleading clients assuring unrealistic returns. In another adjudication order, the market...

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IANS 04 January 2023
US regulators have issued their first-ever joint warning to banks over the risks associated with the cryptocurrency market, local media reported.   The watchdogs told financial institutions to be wary of potential fraud, legal uncertainty and misleading disclosures by digital asset...

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Moneylife Digital Team 03 January 2023
Reserve Bank of India (RBI) has imposed monetary penalties on four cooperative banks citing the violation of various laws prescribed by RBI. Of these, three belong to Maharashtra and the other to Himachal Pradesh. RBI levied a penalty of Rs8 lakh, the highest among four banks, on Himachal...

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Moneylife Digital Team 02 January 2023
Market regulator Securities and Exchange Board of India (SEBI) on Friday imposed a penalty of Rs15 lakh on Asit C Mehta Investment Intermediaries for violating regulatory norms. Asit C Mehta Investment Intermediaries is a SEBI-registered stockbroker.   SEBI conducted a joint...

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Moneylife Digital Team 02 January 2023
Markets watchdog Securities and Exchange Board of India (SEBI) on Friday asked stock exchanges and clearing corporations to put in place a platform to to give investors an opportunity to square off their position or cancel pending orders in case of disruption of trading services provided by...

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Moneylife Digital Team 31 December 2022
The national company law tribunal (NCLT), Ahmedabad, has asked the interim resolution professional (IRP) appointed for Sintex Industries Ltd about the higher net present value of the resolution plan (RP) compared with the liquidation value calculated at the time of commencement of corporate...

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