Supreme Court Allows Disbursal Of Rs 5000 Crores From SEBI-Sahara Fund To Depositors; Former SC Judge To Monitor Disbursement

The Supreme Court on Wednesday allowed an application filed by the Central Government seeking allocation of ₹ 5,000 crore out of ₹ 24,979 crores deposited by the Sahara group with the Securities and Exchange Board of India (SEBI) to repay the dues of the depositors of the Sahara Group of Cooperative Societies.The Court ordered that out of the total amount of Rs. 24,979.67 Crores lying in...

Adani-Hindenburg | Formation Of Expert Committee Does Not Divest SEBI Of Its Responsibilities In Continuing Investigation : Supreme Court

The Supreme Court of India, in its judgement constituting an expert committee to review the regulatory mechanism in the light of Adani-Hindenburg issue, provided details regarding a note SEBI had submitted before the bench to set out the existing statutory regime for investors in India. The court remarked that the constitution of the expert committee did not divest SEBI of its powers...

SEBI LODR Amendments: Stricter Disclosure Norms For Public Owned Entities

“The role of the financial regulator is threefold. First, to complete the reforms to repair the cracks in the system exposed by the global financial crisis. Second, to implement regulations consistently. And third, to monitor evolving markets and evolving risks.” It becomes imperative on the regulators to ensure greater transparency in the disclosure norms of public entities as such entities are ultimately accountable for the stakes/interests of the public. In this sense, high...

Winding Up AIFS Set Up In The Form Of Trusts

“Alternative Investment Fund” means a fund established or incorporated in India under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) in the form of a trust, a company, a limited liability partnership, or a body corporate. The AIF Regulations define an alternative investment fund (“AIF”) (i) as a privately pooled investment vehicle which collects funds from investors, whether Indian or foreign, for investing it in accordance...

Satyam Scam: SAT Sets Aside SEBI Order Barring Ramalinga Raju & Others From Dealing In Securities Market For 14 Yrs, Seeks Fresh Order In 4 Months

The Securities Appellate Tribunal (SAT) has set aside an order of market’s regulator SEBI barring erstwhile promoters of Satyam - Ramalinga Raju, Rama Raju, and others – from dealing in the securities market for 14 years and ordering disgorgement of Rs. 813 crores. SAT has remanded the matter back to SEBI and directed the Whole Time member who passed the order on November 2, 2018...

Bettering Results: Learn Companies Act, 2013 & SEBI Laws Practice From Top Law Firm Partners [Register Now]

If you are a corporate law enthusiast, you would know how important/relevant is the knowledge of Company law. The major chunk of functioning of law firms dealing with the corporate side of law rests on company law and thus it becomes imperative for any law student, lawyers or anyone seeking to work in corporate law to gain theoretical & practical knowledge on company law. In order to become a corporate lawyer, you must first have a strong understanding of company law practice. This...

Consumption Of Fake Information Is Injurious To Health: Progressive Steps Towards Ad Regulation In India

The year 2020-21 bore witness to a significant number of changes relating to almost every aspect of human life and the advertising ecosystem was no exception. There was a major shift from print media to digital media: the pandemic accelerated the process of digitizing the print media, opening the floodgates to a stream of advertisements with questionable and deceptive claims. Influencers marketing came into its own. According to the TAM Agency report on TV advertising[1], as the number of...

Regulation Of Online Bond Platforms ("OBP")

Under the Indian Companies Act, 2013, a public company can issue debt instruments either through a public issue or private placement[1]. While public issues are done on the stock exchanges, private placements are done on electronic book provider platforms ("EBP"). Over recent years, the issue of debt securities through private platforms on the EBP have grown in leaps and bounds. To put it in perspective, in the financial year 2021-2022, 1,405 issue of listed debt securities were done...

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks

The Supreme Court on Monday(November) adjourned the hearing of the Securities and Exchange Board of India's challenge against the Securities Appellate Tribunal's order that reduced penalties imposed on NDTV promoters Prannoy Roy, Radhika Roy for allegedly concealing price sensitive information from shareholders. On July 20, the SAT at Mumbai had set aside the findings of the SEBI...

Right To Free Speech & Trade Not Violated: P&H HC Upholds SEBI's License Requirement For Analysts Sharing Stock-Related Info On Social Media

The Punjab and Haryana High Court has held that a requirement by the Securities & Exchange Board of India (SEBI) for its Research Analysts to obtain a license for sharing stock-related recommendations on social media is not violative of their Constitutional right to free speech and trade.A Division Bench of Justices Ramchandra Rao and Harminder Singh Madaan held the requirement is in...

SEBI Circular On Standardisation Of Procedure For Debenture Trustees Has Retroactive Application : Supreme Court

The Supreme Court bench comprising Justice Dhananjaya Y Chandrachud, Justice Surya Kant and Justice A S Bopanna allowed retroactive application of SEBI Circular on Standardisation of procedure to be followed by Debenture Trustee(s) in case of default by issuers of listed debt securities. Accordingly, the shareholders of Reliance Commercial Finance Ltd are required carry out a voting process...

Frivolous Criminal Actions Against Large Corporations May Give Rise To Adverse Economic Consequences For Country: Supreme Court In Reliance vs SEBI

The Supreme Court of India held that initiation of criminal action in commercial transactions, should take place with a lot of circumspection. The bench stated that initiating frivolous criminal actions against large corporations would give rise to adverse economic consequences for India in the long run. Thus, it was opined that the Regulator must be cautious in initiating such an action...