SECURITIES LAW
SEBI Proposes Tripling Fees For Informal Guidance, Expanding Eligibility To Include More Market Entities
The Securities and Exchange Board of India (SEBI) has proposed amendments to the existing Informal Guidance (IG) Scheme, 2003. This scheme, originally introduced in June 2003 and amended in 2004 and 2023, allows registered entities to seek SEBI's guidance on specific transactions and interpretations of securities laws. The IG Scheme was introduced by SEBI to provide clarity to...
SEBI Tightens Eligibility Criteria For Stocks In Derivatives Segment With Stricter Standards And New Product Success Framework
The Securities and Exchange Board of India (SEBI) has updated the eligibility criteria for the entry and exit of stocks in the derivatives segment. The revised criteria introduce stricter standards for stocks to be eligible for entry into the derivatives segment. These criteria are based on the stock's performance in the cash market over the preceding six months on...
SEBI Cancels Registration Of 39 Stock Brokers, 7 Commodity Brokers, And 22 Depository Participants For Non-Compliance
The Securities and Exchange Board of India (SEBI) has cancelled the registration of 39 stock brokers, seven commodity brokers, and 22 depository participants. The cancellations were primarily driven by the fact that these entities were no longer actively participating as members of recognized stock exchanges or depositories. SEBI noted that the action was necessary to...
SEBI Bars Rana Sugars And Top Promoters For 2 Years, Imposes ₹63 Crore Fine For Fund Diversion And Fraudulent Activities
The Securities and Exchange Board of India (SEBI) has taken action against Rana Sugars Limited (RSL) and its key promoters and officials. This move comes after a detailed investigation into allegations of fund diversion and fraudulent activities within the company. SEBI's decision includes barring the company and its top management from participating in the securities markets for...
CDSL Settles With SEBI For ₹1.3 Crore Over Alleged Regulatory Violations
The Central Depository Services (India) Limited (CDSL), one of India's prominent depositories, has resolved allegations of regulatory violations by paying a settlement amount of ₹1.3 crore to the Securities and Exchange Board of India (SEBI). This settlement stems from alleged non-compliance with specific directives issued by SEBI. SEBI initiated adjudication proceedings against...
Citibank Settles With SEBI For Over ₹40 Lakh Following Investigation Into Alleged Regulatory Violations
Citibank N.A. has settled with the Securities and Exchange Board of India (SEBI) agreeing to pay over ₹40 lakh in connection with an investigation into alleged regulatory breaches. This settlement comes after SEBI investigates Citibank's failure to comply with several regulations, including those governing foreign investments, guidelines for depositories and participants and procedures...
SEBI Imposes ₹4 Lakh Penalty On LKP Securities Ltd For Violations In Pre-Trade Authorisation Compliance
The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹4 lakh on LKP Securities Ltd for failing to comply with pre-trade authorisation requirements. SEBI's investigation of LKP Securities followed an inspection carried out in conjunction with the Bombay Stock Exchange (BSE), National Stock Exchange of India Ltd (NSE), and Multi Commodity Exchange of India...
SEBI Imposes ₹1 Lakh Fine On Catalyst Trusteeship For Failing In Its Duties As Debenture Trustee
The Securities and Exchange Board of India (SEBI) has imposed a fine on Catalyst Trusteeship Limited for violations concerning its role as a debenture trustee (DT) in managing an issue by Spandana Sphoorthy Financial Ltd (SSFL). SEBI's findings indicated that Catalyst Trusteeship failed to fulfill key responsibilities required by the SEBI (Debenture Trustees)...
SEBI Imposes ₹6 Lakh Penalty On Vistra ITCL For Violating Debenture Trustee Regulations
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 6 lakh on Vistra (ITCL) India Ltd for several violations of the SEBI (Debenture Trustees) Regulations, 1993, and related guidelines. Key among the violations identified was the failure of Vistra to perform independent due diligence in the preparation of asset-cover certificates. SEBI's November...
CARE Ratings Ltd Settles with SEBI for Rs 13.05 Lakh over Regulatory Violations
CARE Ratings Ltd has settled a case with the Securities and Exchange Board of India (SEBI) concerning alleged breaches of regulatory guidelines. The settlement involves the payment of Rs 13.05 lakh. The SEBI initiated these proceedings under Section 15HB of the SEBI Act, 1992 following alleged violations of specific provisions related to the monitoring and review of ratings by...
SEBI Imposes ₹7 Lakh Penalty On Anand Rathi Share And Stock Broker Limited For Trading Terminal Compliance Failures
The Securities and Exchange Board of India (SEBI) imposed a penalty of Rs 7 lakh on Anand Rathi Share and Stock Broker Limited for failing to properly inspect the trading terminals of its authorised persons. SEBI's inspection revealed that the trading terminals were not at the locations reported to the exchanges by the stockbroker. The terminal allocated to authorised person...
Illegal Investment Advisory: SEBI Asks Fraud Advisor To Refund Rs. 27.67 Lakh To Investors
The Securities and Exchange Board of India (SEBI) has imposed a one-year ban on Siddharth Pandey of Snigdha Equity Advisory following violations of regulatory standards concerning investment advisory services. Along with the suspension, Pandey has been fined Rs. 6 lakh and ordered to refund Rs. 27.67 lakh collected from clients. Pandey was found to have offered investment advice...