SEBI Archives | Page 9 of 13

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | Not so “independent” Independent director and a concocted scheme with affinity and consanguinity |SEBI takes on each violation with mordant remarks

Securities and Exchange Board of India (SEBI): S.K. Mohanty, Whole Time Member, in a detailed 167 paged order, following the principles of

Case Briefs Tribunals/Commissions/Regulatory Bodies

Decoded | SEBI bars Director of Franklin Templeton AMC, wife from accessing securities markets for 1 yr: Can redemption of units by Director of a mutual fund AMC be titled as fair conduct?

Securities Exchange Board of India (SEBI): G. Mahalingam (Whole Time Member) held that while directors are not prohibited from trading in units

Op Eds OP. ED.

SPAC Regulations in India: Identifying regulatory challenges and the way forward

by Karan Upadhyaya†

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | A potential ‘No’ turned into a definite ‘Yes’| Yes Bank camouflaged risk with devious safeguards to lure investments in AT1 bonds| Attracted a Rs 25 crore penalty

Securities and Exchange Board of India (SEBI): Soma Majumder, Adjudicating Officer, imposed a 25 crore penalty on Yes Bank Ltd. (YBL), and

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | Reliance ménage in trouble; Irregular shareholding, default in trading regulations | Obtruded with a ₹ 25 crore penalty

Securities and Exchange Board of India (SEBI): K Saravanan, Adjudicating authority, imposed a penalty of Rs 2 crore on Reliance Industries Ltd.

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | What could give a ‘semblance of credibility on first blush’, denied on ‘second’| Fraudulent issuance of GDR dealt suitably | Directed to disgorge

Securities and Exchange Board of India (SEBI): S.K. Mohanty (Whole Time Member) in a detailed 92 paged order, barred six individuals and

Case Briefs Tribunals/Commissions/Regulatory Bodies

SAT | Separate penalties by the stock exchanges can be imposed | While positing, rejects appeal

Securities Appellate Tribunal (SAT): A Coram of Tarun Agarwala, J., (Presiding Officer) and M.T. Joshi, J., (Judicial Member) while dismissing an appeal

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | ‘Diligence is due diligence done diligently’-Impliedly volumed | Recommendations revised attributing to the gravity of the lapses

Securities Exchange Board of India (SEBI): G Mahalingam, (Whole Time Member) while revising the recommendations made by the Designated Authority (DA) considering

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | On account of active and willful issuance of fake and bogus contract notes, stockbroker registration cancelled

Securities and Exchange Board of India (SEBI): G. Mahalingam (Whole Time Member), while exercising powers conferred under Section 12(3) read with Section

Case Briefs High Courts

Ker HC | Inappropriate for Court to interfere with statutory proceedings at show-cause stage; HC dismisses petition against SEBI

Kerala High Court: N. Nagaresh, J., addressed the instant petition filed by a Non-Banking Finance Company to challenge show-cause notices issued by

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI grants an exemption to ‘Pantone’ from takeover norms with respect to acquisition of shares in Tata Communications Ltd.

Security and Exchange Board of India (SEBI): S.K. Mohanty, (Whole Time Member) had granted exemptions to Pantone Finvest Ltd., from complying with

Case Briefs Tribunals/Commissions/Regulatory Bodies

SAT | Selling only one share per transactions despite having adequate holding creates false misleading appearance of trading in the securities market and is violative of Regulation 3 and 4 of PFUTP Regulations

Securities Appellate Tribunal (SAT): Justice Tarun Agarwala, Presiding Officer, Dr C.K.G. Nair Member and Justice M.T. Joshi, Judicial Member affirmed the impugned

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI bans Kishor Biyani and other promoters of FRL from securities market; Rs 17.78 crore to be disgorged for the wrongful gains made by them

Security and Exchange Board of India (SEBI): Ananta Barua, (Whole Time Member) found Chairman of Future Group, Kishor Biyani and its other

Case Briefs Tribunals/Commissions/Regulatory Bodies

Noticing “unauthorised activities”, SEBI passes ex parte order against National Stock Advisory Research prohibiting its activities in stock market

Security and Exchange Board of India (SEBI): Madhabi Puri Buch, (Whole Time Member) issued ex-parte order against National Stock Advisory Research (NSAR)

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI directs HDFC to deposit Rs 158.68 Crore in Escrow Account in BRH Wealth Kreators case; Penalty of Rs 1 Crore imposed

Security and Exchange Board of India (SEBI): G. Mahalingam (Whole Time Member) imposed a penalty of Rupees One Crore on HDFC Bank

Case Briefs Tribunals/Commissions/Regulatory Bodies

Ex-parte order passed against TV anchor Hemant Ghai restraining him from trading in securities

Madhabi Puri Buch, Whole Time Member, SEBI in an interim order has restrained Hemant Ghai, co-anchor of a television show Stock 20-20

Case Briefs Tribunals/Commissions/Regulatory Bodies

Establishment of direct quantified damage/loss to an investor in personam is not an essential ingredient to prove charges of price manipulation; SEBI explains

Securities and Exchange Board of India (SEBI): S.K. Mohanty, (Whole Time Member) while holding the Noticees liable for manipulative trade practises explained,

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI grants limited relaxation to Noticees for inter alia availing benefits of corporate actions during restraint period

Securities and Exchange Board of India (SEBI): G. Mahalingam, (Whole Time Member) has granted limited relaxations to the noticee, namely N. Ravichandran,

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | Permitting investors to receive portfolio management services from unregistered entity causes irreparable injury to securities market; SEBI’s objective not only protection of investors but also orderly development of market

Security and Exchange Board of India (SEBI): Madhabi Puri Buch, (Whole Time Member) imposed certain restrictions on GJ Advisory Services and Profit

Legislation Updates Rules & Regulations

SEBI notifies SEBI (Alternative Investment Funds) (Amendment) Regulations, 2021; Amends ‘General Obligations’ relating to constitution of Investment Committee by the Manager

Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2021 SEBI amends the Securities and Exchange Board of India (Alternative