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...

Roc Hyderabad Imposes Rs. 40,000 Penalty On Sai Silks (Kalamandir) Limited And Directors For Non-Disclosure Of Asset In Rs. 50.94 Million Impairment Loss

The Registrar of Companies, Hyderabad has held imposed a penalty of Rs. 40,000/- on Sai Silks (Kalamandir) Limited and its directors for failure to disclose the nature of the asset associated with an impairment loss of Rs. 50.94 million. IND AS 36 deals with the impairment of assets. This standard requires companies to ensure that their assets are carried at no more than their...

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...

Supreme Court Collegium Proposes Transfer Of Allahabad High Court Judge Justice Shamim Ahmed To Madras HC

The Supreme Court Collegium has recommended that Justice Shamim Ahmed be transferred from the Allahabad High Court to the Madras High Court. The Collegium comprising the Chief Justice of India, DY Chandrachud, along with Justice Sanjiv Khanna, Justice BR Gavai, Justice Surya Kant and Justice Hrishikesh Roy, proposed Justice Ahmed's transfer to Madras HC after rejecting his request for...

Centre Publishes Draft Rules On Temporary Suspension Of Telecommunication Services

The Central Government on August 28 published the draft Temporary Suspension of Telecommunication Services Rules, 2024 under the Telecommunication Act, 2023. These rules shall be in supersession of the Temporary Suspension of Telecom Services (Public Emergency or Public Safety) Rules, 2017 and Temporary Suspension of Telecom Services (Amendment) Rules, 2020 under the Indian Telegraph...

Centre Publishes Draft Rules On Interception Of Phone Communication

Today, the Ministry of Communications (Department of Telecommunications) published the draft Telecommunications (Procedures and Safeguards for Lawful Interception of Messages) Rules, 2024 (Draft Rules) under the Telecommunications Act, 2023. Objections or suggestions, if any, may be addressed to the Joint Secretary (Telecom), Department of Telecommunications, Ministry of...

MLA And Film Actor Mukesh Gets Interim Protection From Arrest In Rape Case

Ernakulam Sessions Court granted interim protection from arrest to MLA Mukesh in a rape case. The complainant had alleged that the petitioner sexually abused her when she approached him to take a membership to the Association of Malayalam Movie Artists. An FIR was filed against the cine-actor in the Maradu Police Station.In the wake of publication of Hema Committee Report, many film artists...

Zee And Sony Reach Amicable Settlement, Agree To Withdraw All Cases At Singapore Arbitration Centre And NCLT

Zee Entertainment Enterprises Ltd. (ZEE) and Culver Max Entertainment Pvt. Ltd. (CMEPL), operating as Sony Pictures Networks India (SPNI), along with Bangla Entertainment Pvt. Ltd. (BEPL), have settled their dispute over the failed merger agreement. The settlement resolves all ongoing disputes between the parties. Under the terms of this non-cash settlement, both Zee and Sony,...

RoC Pune Imposes ₹5.03 Lakh Penalty On Clairvoyant India Pvt. Ltd. For Failing To Constitute CSR Committee

The Registrar of Companies, Pune has imposed a penalty of ₹5.03 lakh on Clairvoyant India Private Limited and its directors for failing to constitute a Corporate Social Responsibility (CSR) Committee, despite the company's net profit exceeding the threshold specified under Section 135 of the Companies Act, 2013. According to Section 135, companies with a net profit exceeding ₹5...

Bengaluru Court Restrains 'X' User From Making Defamatory Statements Against Ex-CM Basavaraj Bommai, Orders Removal Of Posts

A City Civil And Sessions court on Wednesday restrained the media and one Jagadesh K N from publishing, telecasting or circulating any defamatory publication against Member of Parliament and former Chief Minister of Karnataka Basavaraj S Bommai. The respondent Jagadesh has claimed on social media site 'X' formerly 'Twitter', that he had private videos of Bommai from his tenure as Chief...

Bank Cannot Proceed Under SARFAESI Act Against Personal Guarantor During Interim Moratorium Under IBC, 2016: NCLAT Principal Bench

The National Company Law Appellate Tribunal Principal Bench, New Delhi of Justice Yogesh Khanna (Judicial Member) and Ajai Das Mehrotra (Technical Member) has held that once the interim moratorium is in effect due to insolvency proceedings against a personal guarantor under the IBC, 2016, the bank is prohibited from continuing any further actions under the SARFAESI Act regarding...