SEBI

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | Specious Portfolio, Spurious Manager -Deceptive Portfolio Manager with a real-looking-fake website caught and handled suitably

Securities and Exchange Board of India (SEBI): S.K. Mohanty, Whole Time Member while exercising the powers under Sections 11, 11(4),11B (1) and

Legislation UpdatesNotifications

SEBI issues circular for permitting non-scheduled Payments Banks to register as Bankers to an Issue

On August 03, 2021, SEBI issued a circular to protect the interests of investors in securities and to promote the development of,

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | Deliberate act of creating fictitious volumes distorting market equilibrium suffers a monetary penalty even in the absence of disproportionate gains

Securities and Exchange Board of India (SEBI): Maninder Cheema, Adjudicating Officer, while affirming the violations under Regulation 3 (a), (b), (c), (d)

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | Financial Racket: Kundra, Shetty into murky waters again | Imposes fine for insider trading on Viaan Industries

Securities Exchange Board of India (SEBI): Suresh B Menon, Adjudicating Officer, imposed a monetary penalty of Rs three lakh on Viaan Industries

Case BriefsSupreme Court

Compounding of offence under S. 24-A of SEBI Act: SC declares SEBI’s consent not mandatory but high deference to its view must be shown before ultimate decision

Supreme Court: A Division Bench of Dr D.Y. Chandrachud and M.R. Shah, JJ. declared that  SEBI’s consent is not mandatory for compounding

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | Manipulation in prices, fraudulent scheme results in debarment-Global Infratech, Directors and 12 other entities ousted from the market

Securities Exchange Board of India (SEBI): Madhabi Puri Bach, Whole Time Member, considering the alleged violations committed, issued directions restraining Global Infratech

Case BriefsSupreme Court

Consent by majority of unit holders necessary when trustees decide to wind up Mutual Fund Scheme; SEBI (Mutual Funds) Regulations not arbitrary; Reg. 53 is ‘grey area’: SC in sequel to Franklin Templeton matter

Supreme Court: In a sequel to its earlier order directing winding up of six mutual fund schemes of Franklin Templeton Mutual Fund,

Case BriefsTribunals/Commissions/Regulatory Bodies

CCI | Co-location facility of National Stock Exchange is anti-competitive? Is the service an autocratic move against traders? Comprehensive Report

Competition Commission of India (CCI): Coram of Ashok Kumar Gupta (Chairperson) and Sangeeta Verma and Bhagwant Singh Bishnoi (Members) addressed the allegations

Case BriefsTribunals/Commissions/Regulatory Bodies

SAT | SEBI exonerated preferential allottees, exit providers and LTP contributors from manipulation | SAT terms it ‘cryptic’

Securities Appellate Tribunal (SAT): A Bench of Justice Tarun Agarwala SEBI(Presiding Officer) and M.T. Joshi (Judicial Member) allowed a few appeals and

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | Not so “independent” Independent director and a concocted scheme with affinity and consanguinity |SEBI takes on each violation with mordant remarks 

Securities and Exchange Board of India (SEBI): S.K. Mohanty, Whole Time Member, in a detailed 167 paged order, following the principles of

Case BriefsTribunals/Commissions/Regulatory Bodies

Decoded | SEBI bars Director of Franklin Templeton AMC, wife from accessing securities markets for 1 yr: Can redemption of units by Director of a mutual fund AMC be titled as fair conduct?

Securities Exchange Board of India (SEBI): G. Mahalingam (Whole Time Member) held that while directors are not prohibited from trading in units

Op EdsOP. ED.

SPAC Regulations in India: Identifying regulatory challenges and the way forward

by Karan Upadhyaya†

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | A potential ‘No’ turned into a definite ‘Yes’| Yes Bank camouflaged risk with devious safeguards to lure investments in AT1 bonds| Attracted a Rs 25 crore penalty

Securities and Exchange Board of India (SEBI): Soma Majumder, Adjudicating Officer, imposed a 25 crore penalty on Yes Bank Ltd. (YBL), and

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | Reliance ménage in trouble; Irregular shareholding, default in trading regulations | Obtruded with a ₹ 25 crore penalty

Securities and Exchange Board of India (SEBI): K Saravanan, Adjudicating authority, imposed a penalty of Rs 2 crore on Reliance Industries Ltd.

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | What could give a ‘semblance of credibility on first blush’, denied on ‘second’| Fraudulent issuance of GDR dealt suitably | Directed to disgorge

Securities and Exchange Board of India (SEBI): S.K. Mohanty (Whole Time Member) in a detailed 92 paged order, barred six individuals and

Case BriefsTribunals/Commissions/Regulatory Bodies

SAT | Separate penalties by the stock exchanges can be imposed | While positing, rejects appeal

Securities Appellate Tribunal (SAT): A Coram of Tarun Agarwala, J., (Presiding Officer) and M.T. Joshi, J., (Judicial Member) while dismissing an appeal

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | ‘Diligence is due diligence done diligently’-Impliedly volumed | Recommendations revised attributing to the gravity of the lapses

Securities Exchange Board of India (SEBI): G Mahalingam, (Whole Time Member) while revising the recommendations made by the Designated Authority (DA) considering

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI | On account of active and willful issuance of fake and bogus contract notes, stockbroker registration cancelled

Securities and Exchange Board of India (SEBI): G. Mahalingam (Whole Time Member), while exercising powers conferred under Section 12(3)  read with Section

Case BriefsHigh Courts

Ker HC | Inappropriate for Court to interfere with statutory proceedings at show-cause stage; HC dismisses petition against SEBI

Kerala High Court:  N. Nagaresh, J., addressed the instant petition filed by a Non-Banking Finance Company to challenge show-cause notices issued by

Case BriefsTribunals/Commissions/Regulatory Bodies

SEBI grants an exemption to ‘Pantone’ from takeover norms with respect to acquisition of shares in Tata Communications Ltd.

Security and Exchange Board of India (SEBI): S.K. Mohanty, (Whole Time Member) had granted exemptions to Pantone Finvest Ltd., from complying with