Competition Comm reviewing feedback on proposed changes to penalty recovery norms, ET LegalWorld
Competition Commission of India (CCI) is reviewing the feedback received on the proposed amendments of norms related to the manner of recovery of monetary penalty. In November 2024, the watchdog had put out for public consultations the draft amendments to the regulations pertaining to the manner of recovery of monetary penalty. CCI Chairperson Ravneet Kaur […]
Sebi revises norms for mutual fund and demat nominations, aimed at reducing unclaimed assets, ET LegalWorld
Capital markets regulator Sebi has introduced new rules for handling nominations in mutual fund and demat accounts. These changes are aimed at reducing unclaimed assets in the markets. Sebi’s new framework focuses on making the process of transferring assets after the account holder’s death simpler, while ensuring transparency and accountability. Under the new rules, in […]
Sebi warns Ola Electric over disclosure norms breach, ET LegalWorld
Bengaluru: Markets regulator Sebi issued a warning to Ola Electric Mobility for violating disclosure norms after its founder, Bhavish Aggarwal, announced key expansion plans on social media before notifying the stock exchanges. This move contravenes market regulations designed to ensure timely and equitable dissemination of price-sensitive information. The incident occurred on Dec 2 when Aggarwal […]
Markets regulator SEBI sends notice to Ola Electric for violating disclosure norms, ET LegalWorld
Electric vehicle (EV) company Ola Electric Mobility Limited has received an administrative warning from the markets regulator, the Securities and Exchange Board of India (SEBI), for violating disclosure norms. The reason cited is that Ola Electric announced its e-scooter expansion plans first on social media instead of announcing it on the stock exchanges. In an […]
SEBI relaxes norms for settling client accounts inactive for 30 days, ET LegalWorld
Market regulator Securities and Exchange Board of India (Sebi) has eased norms regarding settlement of accounts by brokerages for those clients who have not traded over the last 30 days. Under the revised rules, if the client trades after 30 calendar days and before the upcoming settlement dates of the monthly running account settlement cycle, […]
Megastar Foods pays Rs 20.15 lakh to settle disclosure norms violation case with Sebi, ET LegalWorld
Megastar Foods has settled with capital markets regulator Sebi a case pertaining to the alleged violation of disclosure norms after paying Rs 20.15 lakh towards settlement charges. The order came after the applicant, Megastar Foods, proposed to settle the proceedings initiated against it, without “admitting or denying the facts and conclusions of law”. “In view […]
RBI penalises Manappuram Finance for non-compliance with KYC norms, ET LegalWorld
The Reserve Bank has imposed a penalty of Rs 20 lakh on Manappuram Finance for non-compliance with certain provisions of Know Your Customer (KYC) norms. The RBI said a statutory inspection of the NBFC (non-banking financial company) was conducted with reference to its financial position as on March 31, 2023 and a notice was issued […]
Sebi penalises Reliance Securities for breach of norms, Legal News, ET LegalWorld
Capital markets regulator Sebi on Friday slapped a monetary penalty of Rs 9 lakh on Reliance Securities for flouting market norms as well as stock brokers rules. The order came after the regulator and exchanges, NSE and BSE, had conducted a thematic onsite inspection of the books of accounts, records and other documents of authorised […]
Sebi modifies interim directions for Axis Capital in merchant banker norms violation case, ET LegalWorld
Sebi on Tuesday modified its interim order prohibiting Axis Capital Ltd from engaging in any transactions in the debt segment that involve providing credit risk cover, guarantees and indemnities for the purchase of pledged shares until further notice. Sebi, in its interim order in September, prohibited Axis Capital from undertaking new assignments as a merchant […]
SC orders action against officers and entities for not implementing GRAP-IV norms, ET LegalWorld
The Supreme Court on Monday ordered the Commission for Air Quality Management (CAQM) to immediately initiate action against the defaulting officers and entities who have made no earnest effort to implement Stage IV of the GRAP (Graded Response Action Plan) in the national capital and adjoining states. A bench of Justices Abhay S. Oka and […]