REGULATIONS


Sucheta Dalal Sucheta Dalal 28 September 2022
Now that the Gujarat International Finance Tec-City (GIFT City) is out of the shadows of the beleaguered Infrastructure Leasing and Financial Services (IL&FS), it is finally on its way to achieve a part of the promise showcased at Vibrant Gujarat in 2007, just before the global financial...

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Moneylife Digital Team 28 September 2022
Trouble seems to be brewing in the way Repco Home Finance Ltd (RHFL), a listed company with institutional holding, is being run. Moneylife has received exclusive information that the company's promoter, Repatriates Cooperative Finance and Development Bank (Repco Bank), has been trying to...

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Moneylife Digital Team 28 September 2022
The securities appellate tribunal (SAT) has stayed the Securities and Exchange Board of India’s (SEBI’s) order that had imposed a penalty of Rs30 lakh on Reliance Industries Ltd (RIL) and two of its compliance officers, Savithri Parekh and K Sethuraman, for not promptly disclosing the stake...

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Moneylife Digital Team 28 September 2022
Even as the Indian rupee has depreciated, to trade at an all-time low of 81.93 against the US dollar after the surge in the dollar index on Wednesday, State Bank of India (SBI) feels that the Reserve Bank of India (RBI) should allow the domestic currency to depreciate a bit further and find...

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IANS 28 September 2022
In an attempt to reduce claims litigation costs, individual policyholders complaints to Insurance Ombudsman, government owned National Insurance Company Ltd has decided to hire an Internal Ombudsman.   According to the company, the Internal Ombudsman shall deal with all...

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The Leaflet 28 September 2022
A division bench of the Supreme Court held on 23rd September that in a suit seeking permanent injunction, the unregistered document or agreement to sell on Rs10 stamp paper would not be admissible in evidence.   “Having conscious [sic] of the fact that the plaintiff might not succeed...

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IANS 28 September 2022
Some of the biggest Wall Street companies have been fined a total of $1.8 billion by US financial watchdogs after staff discussed deals and trades on their personal devices and apps.   The Securities and Exchange Commission (SEC) says the investigation uncovered "pervasive off-channel...

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Moneylife Digital Team 27 September 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs95 lakh on 19 individuals involved in manipulative insider trading in securities of Global Infratech and Finance Limited. These individuals are directed to pay the penalty within 45 days either through a...

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Moneylife Digital Team 27 September 2022
The Reserve Bank of India (RBI) has imposed monetary penalties on 11 cooperative banks, including four from Gujarat, three from West Bengal and one each from Maharashtra, Andaman & Nicobar, Odisha and Haryana. All these lenders were found violating RBI's guidelines, including on loans and...

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Moneylife Digital Team 27 September 2022
Markets regulator Securities and Exchange Board of India (SEBI) on Monday issued modalities for investment adviser applications, asking all the new and existing applicants to approach BSE Administration and Supervision Ltd (BASL) for registration-related activities.   In June 2021,...

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Sucheta Dalal Sucheta Dalal 24 September 2022
In a repeat of the Udayant Malhoutra case, the Supreme Court of India (SC), on 19th September, rejected the market regulator’s interpretation of what constitutes insider trading and acquitted Abhijit Rajan, former chairman of Gammon India Ltd. The two insider trading cases, and some others,...

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Moneylife Digital Team 24 September 2022
Expressing concerns over the overseas investment rules issued by the Union ministry of finance, India's former revenue secretary EAS Sarma has urged the ministry to revisit the overseas direct investment (ODI) regime and make sure that it does not open the floodgates to unhealthy money...

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Moneylife Digital Team 22 September 2022
Capital markets regulator Securities and Exchange Board of India (SEBI) has kept in 'abeyance' the proposed initial public offering (IPO) sale of Canada-based Fairfax Group-backed Go Digit General Insurance Ltd. However, SEBI has not provided any reason for putting the IPO in 'abeyance'. A...

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IANS 22 September 2022
The two promoters of New Delhi Television Ltd (NDTV)—Prannoy Roy and Radhika Roy and their investment vehicle RRPR Holding Private Ltd—have approached the Supreme Court (SC) against the securities appellate tribunal (SAT).   In a regulatory filing by NDTV, the promoters had informed...

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Gaurav Saxena (The Leaflet) 22 September 2022
Surrogate advertisements, despite being admonished from time to time and being prohibited, still seem to be aired on the regular. One way out is to provide the ASCI with more power to take action against bad actors. Legal action could also be taken against the broadcasters who choose to...

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Moneylife Digital Team 21 September 2022
The Securities and Exchange Board of India (SEBI) has petitioned the Supreme Court (SC) to review its April 2022 decision in the PC Jeweller insider trading case. The apex court had overturned the capital markets regulator's ruling that separated/estranged family members of a promoter must be...

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IANS 21 September 2022
Markets regulator, the Securities and Exchange Board of India (SEBI) has said that any non-profit organisation (NPO), which wants to get listed, should be registered as a non-profit entity and the registration certificate should be valid for 12 months. Also, There should not be any ongoing...

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IANS 21 September 2022
Aiming to reduce delays and realise better value, the Insolvency and Bankruptcy Board of India (IBBI) has notified the IBBI (Liquidation Process) (Second Amendment) Regulations 2022 (Amendment Liquidation Regulations), and IBBI (Voluntary Liquidation Process) (Second Amendment) Regulations...

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Moneylife Digital Team 21 September 2022
The Supreme Court has upheld the acquittal of Abhijit Rajan, former chairman and managing director (CMD) of Gammon Infrastructure Projects Ltd (GIPL), in an insider trading case.    In an order, a bench of justice Indira Banerjee and justice V Ramasubramanian says, "...the information...

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IANS 21 September 2022
The Delhi High Court on Tuesday kept in abeyance an order of the Central Consumer Protection Authority (CCPA) which imposed a cost of Rs 1 lakh on e-commerce platform Amazon for selling sub-standard domestic pressure cookers.   However, Justice Yashwant Varma directed Amazon to...

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