SAT: Common Appellate Authority For SEBI, PFRDA & IRDA

January 20, 2015

Recently, on 26th December, 2014 Government issued The Insurance Laws (Amendment) Ordinance, 2014 ("the Ordinance") in order to hike Foreign Direct Investment (FDI) cap in the insurance sector to 49% from current 26% and allowing the entry of foreign re-insurers (companies that insure insurance companies) among other things, as the legislation could not be passed in the winter session of Parliament.

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Economic Times

Sebi uses new powers to effect first arrest

December 19, 2014

In a first, Sebi has sent a defaulter to jail for six months, using the new powers that authorize it to do so. On Thursday, Sebi issued a warrant against Vinod Hingorani, directing the jailor of Byculla Prison in Mumbai to take him into prison.

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Business Standard

SEBI mulls another revamp of settlement proceedings

November 18, 2014

The Securities and Exchange Board of India (Sebi) is working on facilitating settlement of enforcement proceedings even before the formal show cause notice has been issued, sources have said. According to people privy to the matter, the regulator before the issue of formal enforcement show cause notice will send its basic findings to the entity under scrutiny by way of a basic notice.

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Economic Times

New insider trading norms to target honchos, auditors; bar likely on derivatives trade

November 12, 2014

Directors and senior managers of a listed company may not be allowed to trade in derivatives of their company’s stock while law firms and auditors, often privy to unpublished price-sensitive information, are likely to have a new code of conduct.

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SEBI Order in DLF Ltd.: Are further regulatory actions forthcoming?

October 27, 2014

SEBI has recently passed an order against DLF Ltd. prohibiting the largest Indian real estate company from accessing the capital markets. It is perhaps the most significant order passed against a NIFTY 50 company by the securities market regulator in recent times

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Under Critical Analysis of Securities Law

August 7, 2014

This post is on a slew of legislative changes in Securities Laws through three ordinances and more particularly, Securities Laws (Amendment) Ordinance, 2014 (“2014 Ordinance”) which has been passed by the Lok Sabha as Securities Laws (Amendment) Bill, 2014 (“2014 Bill”).

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Economic Times

Power ordinance in Parliament a litmus test for Sebi

July 19, 2014

These are exciting times for the Indian capital market. A Supreme Court Judge recuses himself from the Sebi Sahara matter, CBI sparks a debate on regulatory autonomy, reforms are under way to revive IPOs

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Economic Times

Growing interest in Bitcoins

July 18, 2014

When most of us think of currency, we imagine currency notes, coins and even ATM cards. But Bitcoin is a new type of digital currency that is being used all over the world, having an estimated transaction value of around $300 million per day.

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Live Mint

SAT dismisses RIL’s appeal against Sebi in 2007 consent ruling

June 30, 2014

Reliance Industries Ltd (RIL) faced a setback in its six-year-old fight with the capital markets regulator over violations of insider trading norms, with the Securities Appellate Tribunal (SAT) on Monday dismissing the company’s appeal challenging the regulator’s refusal to settle the case under the consent process. The tribunal, however, criticized the way in which the regulator has handled the case.

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Economic Times

SEBI issues fresh notice to HDFC Mutual Fund

June 24, 2014

The Securities and Exchange Board of India (Sebi) has issued a fresh show-cause notice to HDFC Mutual Fund, the country’s largest asset management company, alleging front-running by a former employee. Four years ago, the capital markets regulator had banned HDFC

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