SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case
4 months, 2 weeks ago

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case

Live Mint  

The Supreme Court on Monday dismissed a plea by the Securities and Exchange Board of India to impose a ₹25 crore penalty on Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, over alleged share manipulation involving Reliance Petroleum Ltd in November 2007. A two-judge bench of Justices J.B. Pardiwala and R. Mahadevan agreed to hear Sebi's broader case against RIL on 2 December but declined to hold Ambani personally accountable for the alleged actions. Sebi had challenged a Securities Appellate Tribunal order from December 2023, which had overturned penalties totalling ₹70 crore on RIL, Ambani, Navi Mumbai SEZ, and Mumbai SEZ. Sebi alleged that RIL manipulated the market by appointing agents to take short positions in RPL futures while simultaneously trading RPL shares in the cash market.

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History of this topic

Six entities pay ₹4.14 crore to settle FPI rule violation case with Sebi
1 week ago

Six entities pay ₹4.14 crore to settle FPI rule violation case with Sebi

Live Mint  

New Delhi, Mar 21 Six entities, including US-based investment firm Acacia Partners and its affiliates, have settled a case pertaining to alleged FPI rules violation, after paying ₹4.14 crore towards the settlement amount. Acacia Partners, its affiliates and Conifer Management LLC had filed suo-motu settlement applications in terms settlement proceedings norms proposing to settle by neither "admitting nor denying the …

Madhabi Puri Buch case: Bombay HC stays order directing FIR against former SEBI chief, others
Trending News
3 weeks, 3 days ago

Madhabi Puri Buch case: Bombay HC stays order directing FIR against former SEBI chief, others

The Hindu  

The Bombay High Court on Tuesday stayed a Mumbai sessions court order for four weeks that directed the Anti-Corruption Bureau to register an FIR against the former Securities and Exchange Board of India Chairperson Madhabi Puri Buch and five other SEBI and Bombay Stock Exchange officials in an alleged stock market fraud, regulatory violations, and corruption linked to the listing …

DC Edit | 30-yr Sebi FIR: Why long delay?
3 weeks, 4 days ago

DC Edit | 30-yr Sebi FIR: Why long delay?

Deccan Chronicle  

A Mumbai court dealing with anti-corruption cases has ordered the Anti-Corruption Bureau, Mumbai, to register a First Information Report against former Securities Exchange Board of India chairperson Madhabi Puri Buch, three Sebi whole-time members, and Bombay Stock Exchange chairman Pramod Agarwal and CEO Sundararaman Ramamurthy. Though the Bombay high court has stayed the anti-corruption court’s direction, it was surprising that …

Bombay High Court halts Maharashtra ACB action against ex-SEBI chief Madhabi Puri Buch, others till March 4
3 weeks, 4 days ago

Bombay High Court halts Maharashtra ACB action against ex-SEBI chief Madhabi Puri Buch, others till March 4

The Hindu  

The Bombay High Court on Monday asked the Anti-Corruption Bureau not to act on a Mumbai sessions court order to register an FIR against former Securities and Exchange Board of India Chairperson Madhabi Puri Buch and five others, until March 4, 2025. The sessions court on March 1, 2025 directed the ACB to register a First Information Report against Buch …

'Prima Facie Evidence Of Regulatory Lapses' : Court Orders FIR Against Ex-SEBI Chief Madhabi Puri Buch & BSE Officials
3 weeks, 5 days ago

'Prima Facie Evidence Of Regulatory Lapses' : Court Orders FIR Against Ex-SEBI Chief Madhabi Puri Buch & BSE Officials

Live Law  

A Special Court in Mumbai on Saturday ordered the Anti-Corruption Bureau, Mumbai to register a FIR against former Securities and Exchange Board of India SEBI) chairperson - Madhabi Puri Buch and also three of its "whole time members" and the top brass of the Bombay Stock Exchange, Special Judge passed the order in an application under Section 156 Cr.P.C. Special …

Special court in Mumbai orders case against ex-SEBI Chairperson Madhabi Buch
3 weeks, 5 days ago

Special court in Mumbai orders case against ex-SEBI Chairperson Madhabi Buch

Op India  

A Mumbai special court has ordered the launching of an FIR against former SEBI Chairperson Madhabi Puri Buch and five others over alleged financial fraud, regulatory violations, and corruption, a court order showed. An application was filed before the Special ACB Court in Mumbai by the complainant- Sapan Shrivastava, a Thane-based legal news reporter- seeking directions to the concerned police …

Stock market 'fraud': Court orders FIR against ex-Sebi chief Madhabi Puri Buch, 5 others
Top News
3 weeks, 5 days ago

Stock market 'fraud': Court orders FIR against ex-Sebi chief Madhabi Puri Buch, 5 others

Deccan Chronicle  

Mumbai, March 2: A special court here has directed the Anti-Corruption Bureau to register an FIR against former Sebi chairperson Madhabi Puri Buch and five other officials in connection with alleged stock market fraud and regulatory violations. Apart from Buch, the other officials against whom the court has ordered registration of the FIR are BSE's Managing Director and Chief Executive …

Mumbai court directs case against Madhabi Buch, top Sebi, stock market officials
3 weeks, 6 days ago

Mumbai court directs case against Madhabi Buch, top Sebi, stock market officials

India Today  

A special Anti-Corruption court in Mumbai on Saturday ordered the registration of an FIR against top officials of the Securities and Exchange Board of India including former Sebi Chairperson Madhabi Puri Buch and Bombay Stock Exchange in a case of alleged stock market fraud and regulatory violations. The complainant contended that Sebi officials failed in their statutory duty, facilitated market …

Sebi imposes ₹5 crore penalty on BSE arm ICCL for regulatory lapses
1 month ago

Sebi imposes ₹5 crore penalty on BSE arm ICCL for regulatory lapses

Live Mint  

In a significant regulatory move, the Securities and Exchange Board of India slapped a penalty of ₹5.05 crore on the Indian Clearing Corporation Ltd., a subsidiary of BSE Ltd, following an inspection that revealed several instances of non-compliance concerning the clearing corporation’s practices and systems. The inspection also revealed that ICCL had not fully complied with Sebi’s cyber security framework, …

SEBI fines Motilal Oswal ₹7 lakh for violating stock brokerage regulations: Report
1 month, 4 weeks ago

SEBI fines Motilal Oswal ₹7 lakh for violating stock brokerage regulations: Report

Live Mint  

India's capital market regulator, the Securities and Exchange Board of India, on Thursday, January 30, fined the brokerage Motilal Oswal Financial Services ₹7 lakh after conducting an investigation over an alleged violation of stock brokerage regulations, reported multiple media outlets. “After taking into consideration the facts and circumstances of the case, materials available on record, submissions made by the Noticee …

Front running case: Sebi bans 2 persons from securities market for 6-month
2 months ago

Front running case: Sebi bans 2 persons from securities market for 6-month

Live Mint  

New Delhi, Markets regulator Sebi on Tuesday restrained two persons from the securities market for six months and directed them to disgorge ₹34.26 lakh "wrongful gains" made by them through their involvement in front-running activities. Ltd. in the cash market and equity derivatives segments of NSE by its dealer Kadam in the trading account of Bhatkar based on the impending …

Sebi settles adjudication proceedings against Paytm executives
2 months, 1 week ago

Sebi settles adjudication proceedings against Paytm executives

Live Mint  

Mumbai: Markets regulator Securities and Exchange Board of India has settled adjudication proceedings against several executives and independent directors of One97 Communications Ltd, the parent of fintech firm Paytm, for alleged violations of securities laws. The adjudication proceedings stemmed from concerns raised by Sebi in July 2023 regarding the actions of Amit Khera, Paytm’s then-compliance officer and company secretary, as …

Sebi clubs fund diversion, disclosure violation probes against ZEE, Punit Goenka and Subhash Chandra
2 months, 3 weeks ago

Sebi clubs fund diversion, disclosure violation probes against ZEE, Punit Goenka and Subhash Chandra

Live Mint  

The capital market regulator on Thursday clubbed proceedings against Zee Entertainment Enterprises Ltd, its chief executive Punit Goenka and former chairman Subhash Chandra over allegations of fund diversion and violation of disclosure requirements. In response, Zee and Goenka filed settlement applications with Sebi, which the regulator rejected in April 2023 and referred the case for further investigation. In August 2023, …

SEBI suspends trading of Bharat Global Developers over financial misrepresentation
3 months ago

SEBI suspends trading of Bharat Global Developers over financial misrepresentation

Deccan Chronicle  

New Delhi: Markets regulator Sebi on Monday suspended trading in Bharat Global Developers Ltd for financial misrepresentation, misleading disclosures, price manipulation, and offloading shares at inflated prices. In fact, such wealth has arisen from misrepresentation of the company's business and financials to general investors and shareholders," Sebi Whole Time Member Ashwani Bhatia said in his 25-page order. Accordingly, Sebi in …

Sebi suspends trading of Bharat Global Developers shares over financial misrepresentation
Top News
3 months ago

Sebi suspends trading of Bharat Global Developers shares over financial misrepresentation

Hindustan Times  

Markets regulator Sebi on Monday suspended trading in Bharat Global Developers Ltd for financial misrepresentation, misleading disclosures, price manipulation, and offloading shares at inflated prices. The SEBI Bhavan at BKC Bandra in Mumbai Additionally, the regulator has barred the company, its managing director Ashok Kumar Sewada, CEO Mohsin Shaikh and directors --Dinesh Kumar Sharma and Nirali Prabhatbhai Karetha -- and …

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation
Trending News
3 months ago

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation

Live Mint  

The market regulator has suspended trading in Bharat Global Developers Ltd’s shares until further notice over allegations of fraudulent activities and false disclosures in a rare such action. "The shocking falsities presented by BGDL as legally required disclosures to the exchange expose a clear fraudulent scheme," said Sebi's order, authored by whole-time member Ashwani Bhatia. Regulator's scrutiny Citing Sebi's proactive …

Six entities pay ₹3.49 crore to settle front-running trade case with Sebi
3 months, 1 week ago

Six entities pay ₹3.49 crore to settle front-running trade case with Sebi

The Hindu  

Six entities, including Samir Kothari and Jitendra N. Kewalramani, has settled with Sebi in a case pertaining to the suspected front-running of trades by paying ₹3.49 crore towards settlement charges. These included disgorgement of unlawful gain totalling ₹2.06 crore along with 12 per cent interest per annum from the date of the impugned transaction to the date of filing of …

Supreme Court refuses to curtail Calcutta Stock Exchange’s extension for Sebi compliance
3 months, 3 weeks ago

Supreme Court refuses to curtail Calcutta Stock Exchange’s extension for Sebi compliance

Live Mint  

The Supreme Court has declined to intervene in the Calcutta High Court’s decision to give the Calcutta Stock Exchange, India’s oldest stock exchange, more time to comply with the Securities and Exchange Board of India’s 2012 Exit Policy. The court said it would review CSE’s compliance with the Exit Policy at the next hearing on 7 March 2025. Sebi had …

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms
3 months, 4 weeks ago

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms

Live Mint  

Capital markets regulator Securities and Exchange Board of India on Friday, November 29, penalized Reliance Securities with ₹9 lakh for flouting market norms and stock broker rules. The order came after the regulator and exchanges, NSE and BSE, conducted a thematic onsite inspection of the books of accounts, records, and other documents of authorised persons of Reliance Securities Ltd, a …

SEBI imposes ₹9 lakh fine on Reliance Securities for ‘flouting market norms’
3 months, 4 weeks ago

SEBI imposes ₹9 lakh fine on Reliance Securities for ‘flouting market norms’

Hindustan Times  

The Securities and Exchange Board of India on Friday imposed a ₹9 lakh monetary penalty on Reliance Securities for “flouting market norms” and stock broker rules. According to a PTI report,the market regulator's order came after National Stock Exchange and Bombay Stock Exchange carried out a thematic onsite inspection of the books of accounts, records and other documents of authorised …

Anil Ambani reviewing SEBI order banning him from capital markets
7 months ago

Anil Ambani reviewing SEBI order banning him from capital markets

New Indian Express  

NEW DELHI: Anil Ambani is reviewing the Securities and Exchange Board of India order imposing a fine and banning him from capital markets for five years in an alleged fund diversion case and will take appropriate next steps as legally advised, his spokesperson said in a statement on Sunday. Ambani had resigned from the board of Reliance Infrastructure and Reliance …

SEBI Imposes Rs 11 Lakh Fine On IIFL Securities For Compliance Failures
7 months ago

SEBI Imposes Rs 11 Lakh Fine On IIFL Securities For Compliance Failures

Live Law  

The Securities and Exchange Board of India has levied a fine of Rs 11 lakh on IIFL Securities Limited for breaches of various regulatory guidelines under the Securities Contracts Rules and associated SEBI circulars. The SEBI order highlighted that IIFL Securities violated multiple provisions related to margin trading and client fund management. The broker was found to have transferred securities …

Sebi imposes ₹11 lakh penalty on IIFL Securities for violating stock broker regulations
7 months, 1 week ago

Sebi imposes ₹11 lakh penalty on IIFL Securities for violating stock broker regulations

Live Mint  

Capital market regulator Sebi on Wednesday slapped a fine of ₹11 lakh on brokerage firm IIFL Securities for flouting stock broker rules and other regulatory norms. Sebi conducted an inspection of IIFL Securities Ltd covering the period from April to July 2022 to assess the firm’s adherence to regulatory requirements. In its 35-page order, Sebi noted that IIFL Securities acknowledged …

SEBI’s Buch Under Pressure: Can India’s Market Watchdog Chief Weather the Storm?
7 months, 1 week ago

SEBI’s Buch Under Pressure: Can India’s Market Watchdog Chief Weather the Storm?

The Hindu  

Published : Aug 16, 2024 20:42 IST - 8 MINS READ When the Satyam scam came to light in January 2009, it was a bolt from the blue for India’s stock market. The report accuses Buch of investing in an offshore Mauritius fund that’s part of the very fund structure being probed by SEBI for its fund flows into Adani …

Dilip Khedkar disproportionate assets case: Complainant submits 2,000-page evidence to ACB
8 months, 1 week ago

Dilip Khedkar disproportionate assets case: Complainant submits 2,000-page evidence to ACB

Hindustan Times  

Advocate Tanaji Gambhire, complainant in a disproportionate assets case related to Dilip Khedkar, father of IAS probationer Puja Khedkar, has submitted over 2,000 pages of evidence to the Anti-Corruption Bureau Pune division. Authorities had issued a suspension order to Dilip on February 24, 2020, after a departmental inquiry found that he threatened 300-400 small businessmen for extortion while posted in …

SEBI Proposes Amendments To Handle Securities Law Violations By Intermediaries Through Summary Proceedings
8 months, 1 week ago

SEBI Proposes Amendments To Handle Securities Law Violations By Intermediaries Through Summary Proceedings

Live Law  

The Securities and Exchange Board of India has issued a consultation paper proposing amendments to the SEBI Regulations, 2008 which introduces provisions for summary proceedings to handle specific types of securities law violations by intermediaries. The introduction of summary proceedings addresses issues observed in the current regulatory framework. However, SEBI has noted an increased number of violations by other intermediaries, …

Raselle Capital VCC settles FPI violation case with Sebi, pays Rs 1.23 cr
8 months, 3 weeks ago

Raselle Capital VCC settles FPI violation case with Sebi, pays Rs 1.23 cr

Business Standard  

The order came after Raselle Capital proposed to settle the instant proceedings initiated against it without "admitting or denying the findings of facts and conclusions" of the law. | Photo: Bloomberg Foreign portfolio investor Raselle Capital VCC has settled a case related to the alleged violation of FPI rules with capital markets regulator Sebi after paying Rs 1.23 crore as …

Eros International moves SAT against Sebi’s order in fund diversion matter
9 months ago

Eros International moves SAT against Sebi’s order in fund diversion matter

Live Mint  

Mumbai: Media company Eros International, along with its key executive officials, on Friday moved the Securities Appellate Tribunal against the Securities and Exchange Board of India’s October 2023 restraint order in an alleged fund diversion matter. The market regulator in its order had restrained vice chairman Sunil Lulla from holding the position of a director or a key managerial personnel …

SEBI's Power Of Disgorgement: Analysing The Veeram Securities Order
10 months, 2 weeks ago

SEBI's Power Of Disgorgement: Analysing The Veeram Securities Order

Live Law  

In January, 2023, Whole Time Member of the Securities and Exchange Board of India passed an order in the matter of Veeram Securities Limited, wherein the noticees were held guilty for executing contra trades in violation of the SEBI Regulations, 2015. The Order directed the noticees in this matter to disgorge the amount of profit made by them upon execution …

Trustees of CIG Realty Fund move SAT against Sebi order
1 year ago

Trustees of CIG Realty Fund move SAT against Sebi order

Live Mint  

Mumbai: The Trustees of CIG Realty Fund on Tuesday moved the Securities Appellate Tribunal challenging an order by the Securities and Exchange Board of India in December that barred them from accessing the capital markets. These complaints pertained to three schemes – CIG Realty Fund Type I, II, and IV. The complaints pertained to various issues including the extension of …

Relief for Sebi as SC stays SAT order in Karvy Stock Broking case
1 year, 2 months ago

Relief for Sebi as SC stays SAT order in Karvy Stock Broking case

Live Mint  

New Delhi: The Supreme Court on Thursday stayed the Securities Appellate Tribunal's order in response to a plea filed by the Securities and Exchange Board of India in the Karvy Stock Broking case. The plea contested SAT's previous ruling, which had favoured major lenders such as Axis Bank, ICICI Bank, HDFC Bank, IndusInd Bank, and Bajaj Finance. Sebi and others …

Shielding SEBI: On Supreme Court’s ruling and SEBI probe
1 year, 2 months ago

Shielding SEBI: On Supreme Court’s ruling and SEBI probe

The Hindu  

The Supreme Court of India’s ruling on a batch of petitions, filed in the wake of a U.S.-based short seller’s allegations of malfeasance including stock price manipulation at the Adani group of companies, has squarely tossed the ball back to the markets regulator’s court. The Court has opted to subordinate petitioners’ entreaties to protect larger public interest to its chariness …

Sebi orders Raju and others to pay back Rs 1,747 crore in Satyam case
1 year, 3 months ago

Sebi orders Raju and others to pay back Rs 1,747 crore in Satyam case

Deccan Chronicle  

Hyderabad: Markets regulator Sebi has ordered former chairman of Satyam Computers Services B. Ramalinga Raju and five others to pay back Rs 624 crore of unlawful gains that were made in stock sale along with an interest of 12 per cent. Apart from Ramalinga Raju, others named in the order include his brothers B Rama Raju and B Suryanrayana Raju, …

NCLT Mumbai: Penalty Imposed By SEBI During Liquidation Can Be Claimed Before Liquidator And Considered U/S 53 Of IBC
1 year, 5 months ago

NCLT Mumbai: Penalty Imposed By SEBI During Liquidation Can Be Claimed Before Liquidator And Considered U/S 53 Of IBC

Live Law  

The National Company Law Tribunal, Mumbai Bench comprising of Ms. Lakshmi Gurung and Shri Charanjeet Singh Gulati, allowed the appeal filed in Securities Board of India vs. Mr. Vishal Ghisulal Jain, Liquidator of, Sterling International Enterprises Ltd. The Tribunal held that a penalty imposed by SEBI’s Adjudicating Officer during the liquidation can be claimed before the Liquidator and can be …

SAT Sets Aside SEBI Order Which Held Prannoy Roy & Radhika Roy Liable For Insider Trading In NDTV
1 year, 5 months ago

SAT Sets Aside SEBI Order Which Held Prannoy Roy & Radhika Roy Liable For Insider Trading In NDTV

Live Law  

The Securities Appellate Tribunal on Thursday set aside the order passed by the Securities and Exchange Board of India in November 2020 which held Prannoy Roy and his wife Radhika Roy, the former promoters of NDTV, liable for insider trading.The SEBI order had barred the Roys from buying, selling and dealing in securities directly and indirectly for a period of …

SAT quashes SEBI’s order against Prannoy Roy, Radhika Roy
1 year, 5 months ago

SAT quashes SEBI’s order against Prannoy Roy, Radhika Roy

Live Mint  

Securities Appellate Tribunal quashes SEBI's insider trading order against former NDTV promoters Prannoy Roy & Radhika Roy. The matter pertains to Sebi findings that Prannoy Roy and Radhika Roy indulged in insider trading in the scrip of NDTV between 1 September 2006 and 30 June 2008. By dealing in shares of NDTV while in possession of unpublished price-sensitive information, the …

SAT postpones Punit Goenka’s plea against SEBI order; next hearing on...
1 year, 6 months ago

SAT postpones Punit Goenka’s plea against SEBI order; next hearing on...

Live Mint  

The Securities Appellate Tribunal adjourned the final hearing on a plea challenging a Sebi confirmatory order against Zee Entertainment Enterprises' chiefs. Sebi order barred ZEEL's Punit Goenka and Shubhash Chandra from holding any key positions in the company and other organisations. In its confirmatory order, Sebi restricted Goenka and Chandra from holding any directorship or other key managerial positions in …

SEBI bars Brightcom’s top officials from holding directorial posts; here’s why
1 year, 7 months ago

SEBI bars Brightcom’s top officials from holding directorial posts; here’s why

Live Mint  

Capital markets regulator Securities and Exchange Board of India said in an interim order on Tuesday, August 22, that it has found lapses in Brightcom Group Limited preferential issue of shares. SEBI has barred Suresh Kumar Reddy - the promoter-cum-chairman and managing director of Brightcom Group, along with chief financial officer Narayan Raju from holding directorial posts until further notice. …

SEBI (Settlement Proceedings) Amendment Regulations, 2023 | SEBI Empowers Panel Of Whole Time Members For Settlement Proceedings
1 year, 7 months ago

SEBI (Settlement Proceedings) Amendment Regulations, 2023 | SEBI Empowers Panel Of Whole Time Members For Settlement Proceedings

Live Law  

In a significant development, the Securities and Exchange Board of India has introduced an amendment to the Securities and Exchange Board of India Regulations, 2018, via the Securities and Exchange Board of India Regulations, 2023. The Securities and Exchange Board of India has exercised its powers under Section 15JB of the Securities and Exchange Board of India Act, 1992, Section …

IIFL Securities shares tank over 18% on Sebi order
1 year, 9 months ago

IIFL Securities shares tank over 18% on Sebi order

Live Mint  

IIFL Securities share price plunged over 18% in early deals on Tuesday after capital market regulator Securities and Exchange Board of India barred the company from taking new clients for 2 years. However, IIFL Securities said that the Sebi’s order does not affect the company's existing business with the existing clients. Read Here: SEBI bars IIFL Securities from taking new …

Zee Promoters Approach Securities Appellate Tribunal Against SEBI Order: Report
1 year, 9 months ago

Zee Promoters Approach Securities Appellate Tribunal Against SEBI Order: Report

ABP News  

The promoters of Zee Entertainment Enterprises Ltd have approached the Securities Appellate Tribunal to seek relief against the SEBI's order on Tuesday. Shares of Zee Entertainment Enterprises fell over 6.50 per cent in morning trade on Tuesday after SEBI banned Essel Group chairman Subhash Chandra and ZEEL's Punit Goenka from holding any directorial or key managerial position in any listed …

Adani-Hindenburg row: Supreme Court to hear SEBI’s plea on extension of probe time
1 year, 10 months ago

Adani-Hindenburg row: Supreme Court to hear SEBI’s plea on extension of probe time

The Hindu  

The Supreme Court adjourned to Tuesday the hearing on a plea of the Securities and Exchange Board of India seeking an extension of six months to complete a probe into allegations of stock price manipulation by the Adani group. "The application for extension of time filed by SEBI is meant to ensure carriage of justice keeping in mind the interest …

Adani-Hindenburg Saga: SC to hear SEBI’s 6-month extension plea on May 12
1 year, 10 months ago

Adani-Hindenburg Saga: SC to hear SEBI’s 6-month extension plea on May 12

Live Mint  

The Supreme Court will hear the plea by capital markets regulator Securities and Exchange Board of India seeking a six-month extension to complete the probe on Adani Group on May 12, according to CNBC-TV18. Sebi had asked the apex court for the extension to finish its investigation into allegations levelled by US-based short seller Hindenburg against the conglomerate, noting that …

Weekly Digest Of IBC Cases: 27 February To 6 March 2023
2 years ago

Weekly Digest Of IBC Cases: 27 February To 6 March 2023

Live Law  

NCLAT Case Title: Greymatter Entertainment Pvt. 1043 of 2021 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Ms. Shreesha Merla, has held that IBC does not prevent the Corporate Debtor from establishing defences of ‘Pre-existing dispute’ or ‘No amount due’ through its Reply to Section 9 application and supporting documents, even if it failed …

Section 59 Companies Act 2013 - NCLT Cannot Excercise Parallel Jurisdiction With SEBI For Addressing Violations Of SEBI Regulations: Supreme Court
2 years, 2 months ago

Section 59 Companies Act 2013 - NCLT Cannot Excercise Parallel Jurisdiction With SEBI For Addressing Violations Of SEBI Regulations: Supreme Court

Live Law  

The Supreme Court has held National Company Law Tribunal under Section 59 of Companies Act, 2013, cannot excercise a parallel jurisdiction with Securities and Exchange Board of India6 for addressing violations of the Regulations framed under the SEBI Act.The court held that rectificatory jurisdiction of the NCLT under Section 59 of the Companies Act,2013, is summary in nature. The Supreme …

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks
2 years, 4 months ago

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

Live Law  

The Supreme Court on Monday 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 which held the …

SEBI bars Bombay Dyeing, Ness Wadia, others from securities market for up to two years; imposes fines of ₹15.75 crore
2 years, 5 months ago

SEBI bars Bombay Dyeing, Ness Wadia, others from securities market for up to two years; imposes fines of ₹15.75 crore

The Hindu  

Securities and Exchange Board of India has barred 10 entities, including Bombay Dyeing & Manufacturing Company Limited and its promoters — Nusli N Wadia, Ness Wadia and Jehangir Wadia — from the securities markets for up to two years and levied a fine totalling ₹15.75 crore on them for being involved in a fraudulent scheme of misrepresenting the company's financial …

Sebi bars 3 individuals from securities market for illegal investment advisory
2 years, 6 months ago

Sebi bars 3 individuals from securities market for illegal investment advisory

Live Mint  

Markets regulator Securities and Exchange Board of India on 31 August banned three individuals from the securities markets for providing unauthorised investment advisory services. The latest proceedings took place after SEBI issued a show cause notice dated 31 July, 2021 to RNS Global Capital and its proprietors' -- Lakhan Chouhan, Rohit Soni and Shivani Thakur -- alleging that they were …

Sebi penalises Aadhaar Ventures, its directors for flouting market norms
2 years, 6 months ago

Sebi penalises Aadhaar Ventures, its directors for flouting market norms

Live Mint  

Sebi on Monday levied fines on Aadhaar Ventures India Ltd and its directors for violating insider trading rules and listing conditions. Sebi imposed a fine of ₹10 lakh on Aadhaar Ventures India Ltd, its directors -- Jils Raichand Madan, Somabhai Sunderbhai Meena and Jyoti Munver for disclosure lapses. Sebi conducted an early investigation for alleged price manipulation in the scrip …

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