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SEBI Fines IIFL Securities ₹3 Lakh For Mishandling Client Data
The Securities and Exchange Board of India (SEBI) has imposed a fine of ₹3 lakh on IIFL Securities for failing to maintain due diligence and care in its role as market intermediaries. This penalty arose from the mishandling of client data related to domicile information which impacted stamp duty obligations. Between July 2020 and June 2022, IIFL Securities registered 12,101...
National Housing Bank Act | No Vicarious Liability For Directors Without Specific Pleading That They Were Responsible For Company's Business : Supreme Court
The Supreme Court on Thursday (August 1) held that a complaint against company's directors for offence committed by the company under the National Housing Bank Act, 1987 must contain specific averments that the directors were responsible for the business of the company at the time of the offence.A bench of Justice Abhay Oka and Justice Augustine George Masih quashed a complaint against...
SEBI Bars Omaxe Ltd. And Key Executives from Securities Market For Two Years; Imposes Rs 47 Lakh Fine For Financial Irregularities
The Securities and Exchange Board of India (SEBI) has imposed bar and penalties against real estate firm Omaxe Ltd., its Chairman Rohtas Goel, Managing Director Mohit Goel, and three other key figures. This order follows serious irregularities in the company's financial reporting. SEBI has banned Omaxe Ltd., Chairman Rohtas Goel, Managing Director Mohit Goel, and executives Sudhangshu...
'Her Photos Were Repeatedly Shown' : Supreme Court Dismisses Asianet News Plea To Quash Divya Spandana's Defamation Complaint
The Supreme Court today (August 2) dismissed the petition filed by Asianet News Network, Kannada channel Asianet Suvarna News and journalist Vishweshwar Bhat challenging the Karnataka High Court's refusal to quash the criminal defamation complaint filed by actor Divya Spandana for allegedly linking her to IPL spot-fixing scam. The bench of CJI DY Chandrachud, Justices JB Pardiwala and...
SEBI Proposes Broader Definition Of 'Connected Persons' In Insider Trading Regulations To Include More Relatives
The Securities and Exchange Board of India (SEBI) has proposed to expand the definition of connected persons under the SEBI (Prohibition of Insider Trading) Regulations (PIT Regulations) to include more relatives. Under the current PIT Regulations, a connected person is defined as someone likely to have access to Unpublished Price Sensitive Information (UPSI) due to their employment...
NEET-UG 2024 | Exam Cancellation Only When Malpractice Is Systemic & Separation Of Untainted Candidates Is Impossible: Supreme Court
While refusing to cancel the NEET-UG exam held on May 5 this year on account of paper leak and malpractices, the Supreme Court has observed that an exam may be cancelled only when its sanctity is found to have been compromised at a systemic level and it is impossible to separate the tainted candidates from the untainted ones."...the cancellation of an examination, either for the purposes...
Jammu And Kashmir High Court Orders IAS Officer To Appear In Criminal Contempt Case Following Alleged Harassment Of Judicial Officer
The Jammu and Kashmir and Ladakh High Court has issued a stern order against Shyambir Singh, Deputy Commissioner of Ganderbal, instructing him to appear in person to answer charges of criminal contempt.Following a reference made by the Chief Judicial Magistrate of Ganderbal, Justices Atul Sreedharan and Sanjeev Kumar observed, “Issue notice to the contemnor, Mr Shyambir by Humdast. ...
Developing 'Scientific Temper' Matter Of Education, Not Judicial Writs: Supreme Court Dismisses PIL To Curb Superstition And Sorcery
The Supreme Court today (August 2) refused to entertain a PIL seeking directions to the Union and States to take action against superstition and sorcery practices in the country. The Court observed that it was essential to focus on educating citizens to promote a 'scientific temper' in the country, something which be cannot achieved merely by filling petitions. The PIL was filed by...
Supreme Court Frames Issues In Tamil Nadu's Suit Against Kerala Over Alleged Encroachment In Mullaperiyar Catchment Area
In the suit filed by State of Tamil Nadu alleging that Kerala's construction of a mega car project in the Mullaperiyar catchment area encroached upon the area leased to it, the Supreme Court recently framed issues arising for consideration.A bench of Justices Abhay S Oka and AG Masih passed the order, stipulating the issues thus:i. Whether the Suit is not maintainable under Article 131 of...
West Bengal VC Appointments| Supreme Court Clarifies That Regular And Not Pro Tem VCs Be Appointed In All State Universities
The Supreme Court, through its order dated July 29, in an ongoing dispute between the West Bengal government and Governor CV Anand Bose (Chancellor of Universities) regarding the appointment of Vice-Chancellors (VC) of Universities, has clarified that there shall be an appointment of regular VCs (instead of pro tem VCs) in all the 36 State-aided Universities."To be more specific, it...
2018 Firing At Anti-Sterlite Protests | Supreme Court Stays Madras HC Order For Probe Into Assets Of Police & Govt Officials
The Supreme Court on August 2 stayed the Madras High Court order which directed a fresh investigation by the Tamil Nadu Directorate of Vigilance and Anti–Corruption (DVAC) into the assets of the police and government officials accused in the 2018 Thoothukudi Police Firing at the anti-Sterlite protests. The High Court had passed the direction in a plea challenging the National Human...
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Don't join an easy crowd; you won't grow. Go where the expectations and the demands to perform are high. – Jim RohnLaw school is a universe of its own, with many paths merging in it and more coming out of it. What you make of law school and your legal career is entirely upto you. But we believe that with a little bit of push, we can help you start with the right edge.Join us for a...