SEBI Enables ESG And Credit Rating Activities In IFSC-GIFT City

To bolster the financial ecosystem at the International Financial Services Centre (IFSC) in Gujarat International Finance Tech-City (GIFT City), the Securities and Exchange Board of India (SEBI) has granted permission to credit rating agencies (CRAs) and ESG rating providers (ERPs) to operate under the jurisdiction of the International Financial Services Centres...

Illegal Financial Advisory: SEBI Officials Collects Proof From Deleted Website Archives, Imposes Penalty Of Rs. 6 Lakh

The Securities and Exchange Board of India (SEBI) imposed a penalty of Rs. 6 lakh on Shashikant Kumar, owner of SM Global Research, for operating an illegal investment advisory service without the requisite registration. Kumar tried to elude regulatory action by deleting the website from which he was running an illegal advisory. But, SEBI traced the website and its contents,...

Kerala High Court Invites Applications From Eligible Lawyers For Senior Advocate Designation

The Kerala High Court issued a notification inviting applications from eligible advocates for designation as Senior Advocates.The notification states that Senior Advocates can also recommend the names of advocates for designation. As per the notification dated July 18, the last date to submit applications is on or before August 12, 2024, by 4.30 PM. It is stated that applications...

Failure To Appoint Company Secretary: RoC Imposes Penalty Of Rs. 30 Lakhs On Standard Glass Lining Technology

The Registrar of Companies, Hyderabad has imposed a penalty of Rs. 30 Lakhs on M/s Standard Glass Lining Technology Limited and its directors for failure to appoint a company secretary and with a delay of five years and five months. Section 203(1) of the Companies Act, 2013 mandates that every company belonging to certain class or classes of companies as may be prescribed shall have...

Tripura High Court Declines Congress, CPI(M) Pleas To Submit Online Nomination For Panchayat Elections

Denying relief to the Tripura Pradesh Congress Committee and Communist Party of India (Marxist), the Tripura High Court on Thursday (July 18) refused to direct the Tripura State Election Commission to accept panchayat election nominations via online medium. Observing that no statutory provision is prescribed under the Tripura Panchayat Act and Rules framed thereunder to allow candidates to...

Justice Sujit Narayan Prasad To Serve As Acting Chief Justice Of Jharkhand High Court Following Retirement Of Justice BR Sarangi

Justice Sujit Narayan Prasad has been appointed as the acting Chief Justice of the Jharkhand High Court. This appointment comes as incumbent Chief Justice Bidyut Ranjan Sarangi demits office after a brief tenure lasting nearly a fortnight.Justice Sarangi was appointed as the Chief Justice on July 3 and will demit the office today. Justice Prasad will take charge as the acting CJ from...

'Sar Tan Se Juda' Case | No Provocation To Kill Anyone, No Relation With Kanhaiya Lal Murder : Ajmer Court Acquits Dargah Cleric, 5 Others

Acquitting a dargah cleric (Syed Gohar Husain Chisti) and five others accused of provoking people and chanting the "Sar Tan Se Juda" slogan during a rally in June 2022, the Ajmer Court noted in its judgment that the evidence presented did not support the prosecution's claims of the accused threatening or inciting harm to any specific individual. "...the prosecution has not been able...

Delay In Issuing Equity Share Certificates: RoC Imposes Rs. 75,000 Penalty On T. Forrest & Sons

The Registrar of Companies (RoC), Kanpur has imposed a penalty of Rs. 75,000 on T. Forrest & Sons India Private Limited for delay in issuing of equity share certificates to its shareholders. Section 56(4)(a) of the Companies Act, 2013 provides that every company shall deliver the certificates of all securities allotted, transferred, or transmitted within a period of two months...

POCSO Act | Examining Other Witnesses Not Necessary If Victim's Sole Testimony Reliable To Convict Accused: Meghalaya High Court

Based on the sole testimony of the victim, the Meghalaya High Court recently upheld the conviction of an accused for committing the offence of aggravated penetrative sexual assault under the POCSO Act.The Court said that the accused can be convicted based on the sole testimony of the victim if the victim's testimony is found to be credit-worthy, unblemished, and inspires the confidence of...

RBI Imposes Rs 7.25 Lakh Penalties On Five Cooperative Banks For Regulatory Violations

The Reserve Bank of India (RBI) has levied monetary penalties on five cooperative banks for various regulatory violations. The penalties totalling Rs 7.25 lakh were imposed following statutory inspections and findings of non-compliance with RBI directives. The Mahabaleshwar Urban Cooperative Bank Ltd., Nagarik Sahakari Bank Ltd., Krishna Sahakari Bank Ltd., Abasaheb Patil...

Karnataka Withholds Bill To Give Reservation For Locals In Private Jobs

The Karnataka Government on late Wednesday indicated that it was temporarily putting on hold the Bill to provide 50% reservation in management and 70% in non-management posts for Kannadigas in private industries and other organisations of the state.After criticism against the bill from various quarters, Chief Minister Siddarmaiah clarified that the bill - which was earlier said to have...

West Bengal Govt Constitutes Committee To Review New Criminal Laws, Suggest State-Specific Amendments

The West Bengal government has passed a resolution constituting a seven-member committee to review the newly implemented criminal laws in order to inter alia determine whether the names of the statutes need to be changed at a state level and to suggest state-specific amendments. The members of the committee are as follows:Justice (Retd) Ashim Kumar Roy, (Retired Justice, Calcutta High Court...