Satyam Scam : SC Issues Notice On SEBI's Challenge Against SAT Quashing Price Waterhouse Ban

The Supreme Court has issued notice on appeal filed by SEBI against the SAT's order) quashing the SEBI order imposing a two year ban on the accounting firm Price Waterhouse(PW) for its alleged involvement in the Satyam scam. Further, the apex court has also stayed the part of decision, insofar as it held that SEBI did not have the jurisdiction to debar auditors and auditing firms...

SAT Quashes SEBI Ban On Price Waterhouse For Alleged Conspiracy In Satyam Scam [Read Judgment]

The Securities Appellate Tribunal has quashed the SEBI order imposing a two year ban on the accounting firm Price Waterhouse(PW) for its alleged involvement in the Sathyam scam.The ban was imposed by the Whole Time Member(WTM) of the Securities and Exchange Board of India (SEBI) in January 2018 under Sections 11, 11B of the SEBI Act barring PW from directly or indirectly issuing any...

"The Board Has Committed A Serious Error" Bombay HC Grants Relief To NDTV, Sets aside SEBI's Orders Rejecting Condonation Of Delay [Read Judgment]

The Bombay High Court on Wednesday allowed a petition filed by New Delhi Television Ltd and set aside orders passed by the Securities and Exchange Board of India rejecting NDTV's applications for condonation of delay in filing settlement applications after SEBI initiated adjudication proceedings against the channel for alleged violations of the Securities Contract (Regulation)...

SAT Sets Aside Penalty Imposed By SEBI On Directors Of P G Electroplast As "Grossly Disproportionate"

The SAT was of the view that the AO had exceeded its power in imposing the maximum penalty under section 15J of the SEBI Act. Finding the penalty as “grossly disproportionate to the violation”, the impugned order imposing the penalty of 1 cr. each on the directors was set aside.

Basic Idea Behind Disgorgement Is Restitution: SAT Allows Investors' Plea For Compensation

The Securities Appellate Tribunal (SAT) has directed SEBI in a case to compensate victims of an investor fraud scheme by utilising funds either from the disgorgement money received from the wrongdoer, or from its 'Investor Protection and Education Fund'. The SAT is a tribunal that hears appeals against SEBI rulings. The direction...

SAT Stays SEBI Order Barring Prannoy Roy & Radhika Roy From Holding Directorial Or Managerial Positions In NDTV [Read Order]

In a temporary relief to Prannoy Roy and Radhika Roy, the Securities Appellate Tribunal has stayed the June 14 order issued by Securities and Exchange Board of India which had restrained them from holding managerial or directorial posts in New Delhi Television Ltd (NDTV) for two years.Admitting the appeal filed by Roys and RPPR Ltd, the promoters of NDTV, the Appellate Tribunal yesterday...

SEBI Restrains Prannoy Roy & Radhika Roy From Holding Directorial Or Managerial Position In NDTV For 2 Years [Read Order]

Roys are also restrained from accessing securities market for two years

SEBI Restrains Prannoy Roy & Radhika Roy From Holding Directorial Or Managerial Position In NDTV For 2 Years [Read Order]

Roys are also restrained from accessing securities market for two years

SEBI Invites Public Comment On HLC Report That Recommends Against Settlement For Serious, Willful Defaults [Read Report]

The Securities and Exchange Board of India (SEBI) on Monday invited public comments on the ‘Report on the Settlement Mechanism’ submitted by a high-level committee (HLC) that has recommended against making settlement procedure a means of forum shopping and adopting a more arduous approach to ensure that certain serious violations/defaults should not be settled as the settlement...

Towards Loan Market Structure: More Liquidity & Relief From Stressed Assets For Banks?

The financial sector of the country is a major contributor towards the growth of the country. The sector comprises public sector banks (PSUs), commercial banks, insurance companies, Non-Banking Financial Companies (NBFCs), mutual funds, pension funds etc. The 17th Financial Stability Report (FSR)[i] released by RBI in June has highlighted that the stress in the banking sector continues as gross non-performing advances (GNPA) ratio rises further.  Profitability of SCB[ii]s declined, partly...

Satyam Scam: SEBI Bars Price Waterhouse From Auditing Any Listed Company For Two Years [Read Order]

The Securities and Exchange Board of India (SEBI), on Wednesday, barred Price Waterhouse (PW) from auditing any listed company in India for a period of two years for its alleged role in the multi-crore Satyam scam."Entities/firms practicing as Chartered Accountants in India under the brand and banner of PW, shall not directly or indirectly issue any certificate of audit of listed...

SEBI Moves Contempt Plea Against Sahara For Obstructing Aamby Valley Auction

The Securities and Exchange Board of India (SEBI) on Tuesday moved the Supreme Court with a contempt petition against Sahara group for allegedly obstructing the board from carrying out the auction of Aamby Valley property in Pune, as directed by the court.Mentioning for an urgent hearing of the contempt plea, SEBI counsel Pratap Venugopal informed the bench headed by Justice Ranjan Gogoi that...