SEBI Introduces Quarterly Disclosure Requirements And New Committees For Stock Exchanges And Clearing Corporations

The Securities and Exchange Board of India (SEBI) has introduced amendments to the regulations governing stock exchanges and clearing corporations. The amended rules now require stock exchanges and clearing corporations to disclose their shareholding patterns on a quarterly basis on their respective websites following the same requirements and format specified in the Securities...

Ernakulam Consumer Commission Orders Rs 17.83 Lakhs As Compensation To Malayalam Film Actor

The Consumer Disputes Redressal Commission at Ernakulam recently ordered compensation of Rs 17,83,641 to Malayalam film actor Harishree Ashokan due to the supply and installation of defective tiles at his residence, 'Punjabi House'.The Bench comprising President D B Binu and Members Ramachandran V and Sreevidhia T N found that Peekya Tiles Centre (distributor), Kerala AGL World (manufacturer)...

Maintenance Charges And IFMS Not Financial Debt Under Section 5(8) Of IBC: NCLT New Delhi

The National Company Law Tribunal New Delhi bench of Bachu Venkat Balaram Das (Judicial Member) and Atul Chaturvedi (Technical Member) has held that maintenance charges and interest free maintenance security (IFMS) does not amount to financial debt within the meaning of Section 5(8) of the IBC. Brief Facts: The matter pertained to an application jointly filed by ILD Owners...

NCLAT Approves Byju's Settlement With BCCI

The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) has approved a settlement between Byju's, a prominent ed-tech firm, and the Board of Control for Cricket in India (BCCI). This settlement which involves the payment of ₹158 crore in arrears will allow Byju's to exit insolvency proceedings that were initiated due to a petition from the BCCI. Justice Rakesh...

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...

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...

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...

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. ...

Wayanad Landslide: Kerala High Court Holds Full Court Reference To Condole Loss Of Lives, CJ Calls For 'Determination To Build Safe Future'

The Kerala High Court today held a Full Court reference to express condolences for the loss of lives and to show support to the survivors of the landslides in Wayanad, which affected the areas of Mundakkai and Choormala. The death toll from the disaster is nearing 300, with several persons still missing.The Acting Chief Justice A. Muhamed Mustaque expressed his collective solidarity...

Delhi Coaching Centre Deaths: Court Grants Bail To SUV Driver

A Delhi Court on Thursday granted bail to Manoj Kathuria, an SUV driver and businessman by profession, arrested in connection with the deaths of three civil services aspirants who drowned in the basement of an IAS coaching centre in the city's Old Rajinder Nagar area.District Judge Rajesh Kumar Goel granted bail to Kathuria, who was denied bail by a judicial magistrate yesterday. The...

Delhi Court Denies Anticipatory Bail To Ex-IAS Puja Khedkar, Asks Police To Widen Scope Of Investigation

A Delhi Court on Thursday denied anticipatory bail to former probationer IAS officer Puja Khedkar accused of “misrepresenting and falsifying facts" in her application for Union Public Service Commission (UPSC) Civil Services Examination, 2022.UPSC yesterday cancelled Khedkar's candidature and debarred her permanently from all the future examinations and selections of the Commission. As...

Advocate Sadhana Ramachandran Passes Away

Sadhana Ramachandran, lawyer and mediator, passed away on August 1.She was practicing at the Supreme Court of India. Her husband is Senior Advocate Raju Ramachandran. She received the "Outstanding Mediation Expert Award (Female) 2023" for her exceptional performance as a mediator in domestic and international disputes.She was appointed as one of the interlocutors by a Supreme Court bench...