REGULATIONS


The recent cases of intervention by the stock market regulator and stock exchanges in preferential allotment of listed companies such as PNB Housing, LIC Housing Finance and Barbeque Nation have brought to fore an important but fundamental point. It may be recalled that the articles of...

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In major changes to e-commerce rules, the Ministry of Consumer Affairs has specified that an e-commerce marketplace entity shall not sell any goods owned or controlled by it on such e-commerce marketplace platform. All the sellers on the platform shall only be third party sellers, and no...

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The Reserve Bank of India (RBI) had allowed IDFC to exit the IDFC First Bank.   In a regulatory filing made to the BSE, IDFC said that RBI on July 20 clarified that "after the expiry of lock-in period of 5 years, IDFC Limited can exit as the promoter of 'IDFC FIRST Bank...

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In the past couple of weeks, I have written about how the Securities and Exchange Board of India (SEBI) wants to permit new stock exchanges and depositories with disruptive technology and vastly liberalised entry norms. This hurried proposal, if implemented, would be one of the biggest market...

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Moneylife Digital Team 21 July 2021
The National Company Law Appellate Tribunal (NCLAT) has stayed Vedanta group's winning bid for debt-laden Videocon Industries Ltd after an appeal by dissenting creditors—Bank of Maharashtra,  and IFCI, which were unhappy with the paltry value realised through the resolution.   A...

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Moneylife Digital Team 21 July 2021
Financial creditors, including banks, realised Rs2.45 lakh crore from approved resolution plans for 394 corporate insolvency resolution cases under the Insolvency and Bankruptcy Code (IBC) as on 30th June, minister of state for finance Pankaj Chaudhary informed the Lok Sabha on...

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Moneylife Digital Team 21 July 2021
The Insolvency and Bankruptcy Board of India (IBBI) has issued amended notification for the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations 2016, which will be effective from 14 July 2021.    In a release, the ministry of corporate affairs (MCA) says, the...

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Moneylife Digital Team 21 July 2021
LIC Housing Finance Ltd has approached the Securities Appellate Tribunal (SAT) over the company’s preferential allotment of shares to its parent Life Insurance Corp of India (LIC).   Securities and Exchange Board of India (SEBI) as well as BSE and National Stock Exchange (NSE) have...

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Moneylife Digital Team 21 July 2021
The Reserve Bank of India (RBI) has cancelled certificate of registration of four non-banking finance companies, one each from Haryana, Kerala, Telangana, and New Delhi. Separately, the central bank says, seven NBFCs have surrendered their certificate of registration, including Macquarie...

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Moneylife Digital Team 21 July 2021
The Union government on Monday said the Central Bureau of Investigation (CBI) has already registered a case in the National Stock Exchange (NSE) co-location (Colo) scam and the investigation on going on.    In a written reply in the Lok Sabha, Pankaj Chaudhary, minister of state for...

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Moneylife Digital Team 21 July 2021
Securities and Exchange Board of India (SEBI) has come out with a framework for segregation and monitoring of collateral at client level amid instances of misuse of client collateral by trading members. The move comes in the wake of a host of broker defaults on the National Stock Exchange...

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Moneylife Digital Team 21 July 2021
Market regulator Securities and exchange Board of India (SEBI) on Tuesday extended the timelines for debenture trustees to comply with certain regulatory requirements due to the COVID-19 pandemic.   According to the regulatory norms, debenture trustees are required to perform...

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Moneylife Digital Team 19 July 2021
Insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of Rs1 crore on D2C Insurance Broking Pvt Ltd for appointing agents and canvassers to bring in the insurance business. The insurance broker was also found guilty of running a website...

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Moneylife Digital Team 19 July 2021
Market regulator Securities and Exchange Board of India (SEBI) and the directorate of revenue intelligence (DRI) are investigating some companies of the Adani group, the Union government told the Parliament on Monday.   In a written reply in the Lok Sabha, Pankaj Chaudhary, minister...

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Moneylife Digital Team 17 July 2021
The Insolvency and Bankruptcy Board of India (IBBI), has come out with new rules for insolvency resolution professionals (IRPs) hired by lenders to rescue bankrupt companies. The new changes will not allow IRPs to continue in that role if any of their relatives or colleagues represent any of...

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Moneylife Digital Team 16 July 2021
Market regulator Securities and Exchange Board of India (SEBI) has decided to introduce block mechanism in demat account of clients undertaking sale transactions from 1 August 2021. With the block mechanism, the time to return securities back to client's demat account would be...

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Moneylife Digital Team 16 July 2021
The Reserve Bank of India (RBI) has imposed monetary penalties on Pune-based Udyam Vikas Sahakari Bank, and Sindhudurg-based Sawantwadi Urban Cooperative Bank, for non-compliance with various regulatory directions.   Udyam Vikas Sahakari Bank was penalised with Rs2 lakh penalty for...

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Moneylife Digital Team 16 July 2021
The Reserve Bank of India (RBI) cancelled licence of Dr Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd from Nilanga in Latur district of Maharashtra. RBI says, the lender does not have adequate capital and earning prospects.   Dr Shivajirao Patil Nilangekar Urban Co-operative...

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With the Reserve Bank of India (RBI) barring Mastercard from onboarding new customers in India, and restrictions already in place for Diners and American Express, it is Visa which seems to be in an advantageous position to strengthen its network in the country.   Homegrown RuPay is...

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Moneylife Digital Team 16 July 2021
Fresh broker defaults continue and the industry is now seeing a record 28 defaults or expulsions since November 2019, just a little before the pandemic. In our article in December 2020, we reported that this was the highest number of broker defaults in the past 20 years. Until then, there...

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