News Updates
'Emerging Areas That Impact Law And The Legal System': Supreme Court Justice KV Viswanathan To Deliver Justice TS Krishnamoorthy Iyer Memorial Speech
The Justice T S Krishnamoorthy Iyer Memorial Oration is scheduled to be delivered by Justice, K V Viswanathan (Judge, Supreme Court of India) on the theme 'Emerging Areas That Impact Law And The Legal System' at Kerala High Court Auditorium, on June 12, 2024 at 4.45 PM.The event will be presided over by Justice A.J. Desai (Chief Justice, High Court of Kerala) and Advocate General of Kerala,...
Centre Notifies Appointment Of Two Additional Judges Of Gauhati High Court As Permanent Judges
The Central Government today notified appointment of two Additional Judges of the Gauhati High Court as the Permanent Judges.The following two Judges have been appointed as Permanent Judges: Justice Susmita Phukan KhaundJustice Mitali Thakuria “In exercise of the power conferred by clause (1) of Article 217 of the Constitution of India, the President is pleased to appoint...
Ghatkopar Billboard Collapse: Maharashtra Govt Orders High-Level Inquiry Led By Former Allahabad HC Chief Justice Dilip Bhosale
The Maharashtra Government has ordered a high-level inquiry into the collapse of an illegal billboard in Ghatkopar, Mumbai, which resulted in the death of 16 individuals and injured 75 others. The incident occurred on May 13, 2024, when a massive billboard collapsed onto a petrol pump following strong winds, trapping around 100 people underneath.The State Home Department has issued a...
Former MP Prajwal Revanna Sent To Judicial Custody Till June 24 In Alleged Sexual Assault Case
A court in Bengaluru on Monday remanded suspended Janata Dal (S) leader Prajwal Revanna to judicial custody till June 24, in connection with sexual assault case. The 42nd Additional City Civil and Sessions Judge passed the order after the SIT which is probing the case did not seek further custody of Prajwal for investigation. The SIT had arrested Prajwal at the Bengaluru Airport on his...
'He Always Upheld Dignity Of Law': Kerala High Court Holds Full Court Reference In Memory Of Late Justice UL Bhat
The Kerala High Court today held a full court reference in the memory of Justice UL Bhat, a former judge of the High Court who passed away on June 6.He was appointed as a Judge of the Kerala High Court in 1980 and later became the Acting Chief Justice of the High Court. He was subsequently elevated as the Chief Justice of Gauhati High Court. He retired as the Chief Justice of Madhya Pradesh...
SEBI Establishes Committee To Review Ownership And Economic Structure Of Clearing Corporations
The Securities and Exchange Board of India (SEBI) has formed an ad-hoc expert committee chaired by Usha Thorat, a former Deputy Governor of the Reserve Bank of India (RBI). The committee is tasked with proposing measures to ensure that clearing corporations function as resilient, independent, and neutral risk managers. The Gandhi Committee's 2018 report emphasized the need for...
Misuse Of Client Funds Is Serious Violation: SEBI Penalizes Goldenmaple Commodities For Misuse Of Client Funds And Record-Keeping Failures
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 3 lakh each on Goldenmaple Commodities Pvt Ltd and its directors, Sanjay Kumar Mishra and Rupesh Kumar, for regulatory violations. The violations included misutilisation of client funds and failure to maintain proper records for client order placements. In an adjudicating order, SEBI highlighted the...
SEBI Can Now Impose Fine On Market Infrastructure Institutions (MIIs) For Surveillance-Related Lapses
The Securities and Exchange Board of India (SEBI) has issued a circular to address surveillance-related lapses at market infrastructure institutions (MIIs). MIIs such as stock exchanges, clearing corporations, and depositories may be fined which are found to be deficient in surveillance activities. These lapses include the implementation of decisions made during...
SEBI Extends Reporting Deadlines For Foreign Portfolio Investors, Offers Greater Flexibility
The Securities and Exchange Board of India (SEBI) has introduced changes related to reporting requirements for Foreign Portfolio Investors (FPIs) which offers them greater flexibility. The primary modification introduced by SEBI involves the categorization of material changes notified by FPIs into two distinct groups: Type I and Type II. Type I introduces which may impact...
Appellate Tribunal Quashes ED Attachment Of NCP Leader Praful Patel's Properties
An Appellate Tribunal in Delhi has quashed orders of attachment of properties of Nationalist Congress Party leader Praful Patel, his wife and his company in a money laundering case, as well as the order of Adjudicating Authority confirming the provisional attachment. A coram comprising of Chairman, Justice Munishwar Nath Bhandari and Member Balesh Kumar allowed the appeals moved by Praful...
SEBI Mandates Direct Transfer Of Securities To Client Demat Accounts
The Securities and Exchange Board of India (SEBI) has issued new guidelines mandating the direct transfer of securities to clients' demat accounts by clearing corporations. These guidelines, outlined in a circular titled "Enhancement of operational efficiency and Risk Reduction--Pay out of securities directly to client demat account," will come into effect from October...
