Eight former, current Paytm officials pay Rs 3.32 cr to settle case with Sebi, ET LegalWorld
As many as eight current and former officials of One97 Communications, which owns and operates Paytm, have collectively paid Rs 3.32 crore to markets regulator Sebi to settle allegations of flouting securities market norms. Those who have settled the case are the company’s former compliance officer and company secretary Amit Khera; Ashit Ranjit Lilani, Neeraj […]
Sebi bars Pacheli Industrial Finance, 6 others for alleged financial misconduct, ET LegalWorld
Markets regulator Sebi has barred Pacheli Industrial Finance, a non-banking financial company, and six other entities from the securities market till further orders for alleged financial irregularities and stock manipulation. Apart from Pacheli Industrial Finance Ltd (PIFL), Abhijit Trading Company Ltd, Calyx Securities Pvt Ltd, Hibiscus Holdings, Avail Financial Services, Edoptica Retail India and Sulphur […]
Sebi bars Pacheli, 6 others from securities market for pump-and-dump activities, ET LegalWorld
Mumbai: The Securities and Exchange Board of India (Sebi) has barred SME firm Pacheli Industrial Finance (PIFL) and six other entities from accessing the securities market for indulging in a ‘pump and dump’ operation. The regulator said the company was taken up for examination because the share price movement of PIFL did not appear consistent […]
SEBI Chief highlights AI integration and tech-driven reforms in capital markets regulation, ET LegalWorld
Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI), shared insights on how the regulatory body is embracing artificial intelligence (AI) and technological advancements to enhance its efficiency and effectiveness in safeguarding the Indian capital markets. The Chairperson underscored SEBI’s reliance on a disclosure-based regime, emphasizing that most market-related information is […]
Sebi resolves over 5,600 complaints through SCORES platform in December 2024, ET LegalWorld
Capital markets regulator Sebi has disposed of 5,636 complaints in December last year through its complaint redressal system SCORES platform. According to Sebi data, the complaints pending as of November 30, 2024, stood at 5,826. During December, the regulator received 5,193 fresh complaints, bringing the total applications to 11,019. Of these, 5,383 complaints remained unresolved […]
Sebi, NISM launch eLearning course on municipal bonds, Legal News, ET LegalWorld
Markets regulator Sebi on Wednesday launched an eLearning course on municipal bonds to equip officials of municipal corporations and urban local bodies with the knowledge and practical skills to leverage such bonds as a tool for financing development projects. The course has been conceptualised and designed by Sebi in collaboration with National Institute of Securities […]
Sebi proposes compulsory demat share issuance during stock-split, ET LegalWorld
Sebi is proposing to issue all shares in demat mode in case a company splits or consolidates the face value of its shares. The regulator is also proposing to issue demat shares in case of corporate restructuring. The inherent benefits of demated shares, mainly elimination of risks associated with physical certificates that is loss, theft, […]
Sebi issues warning to J&K Bank for delayed disclosure of MD appointment, ET LegalWorld
Capital markets regulator Sebi has issued an administrative warning letter to J&K Bank for regulatory non-compliance with regard to disclosure of appointment of its MD & CEO. The disclosure was made on December 25, 2024 at 4:53 PM with a delay of 1 hour 40 minutes beyond the stipulated timeline of 24 hours from the […]
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 comes out with procedure for seeking waiver of interest on penalty payment, ET LegalWorld
Markets regulator Sebi on Friday came out with a procedure for seeking a waiver or reduction of interest concerning recovery proceedings initiated by it for failure to pay penalty. Under this, Sebi said the applicant’s requests for waiver/reduction is required to be submitted to the relevant recovery officer, with documentation supporting the fulfilment of three […]