SAT Reduces SEBI Ban On Riddhi Siddhi Gluco Biols, Promoters To 6 Months, Upholds MPS, Fraud Findings

The Securities Appellate Tribunal (SAT) has reduced the debarment imposed by the Securities and Exchange Board of India (SEBI) on Riddhi Siddhi Gluco Biols Ltd., its Chairman and Managing Director Ganpatraj Chowdhary, and several connected entities. The Tribunal partly modified SEBI's order by reducing the period of debarment, which had been imposed for longer durations by SEBI, to six months for Riddhi Siddhi Gluco Biols Ltd, its promoters including Ganpatraj Chowdhary and certain connected...

SEBI Imposes ₹5 Lakh Penalty On Former Blue Coast Hotels CFO For Financial Disclosure Lapses

The Securities and Exchange Board of India (SEBI) on 11 March imposed a penalty of Rs. 5 lakh on Amit Kumar Singhl, former Chief Financial Officer of Blue Coast Hotels Limited, for certifying financial statements that allegedly failed to disclose key liabilities and related party transactions in violation of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Adjudicating Officer Jai Sebastian passed the order, observing: “The role of the Noticee in the established...

SEBI Eases NISM Certification Norms For Sales, Non-Core Staff Associated With Research Services

The Securities and Exchange Board of India (SEBI) on Wednesday introduced a lighter certification requirement for Persons Associated with Research Services (PARS) performing sales and other non-core services, as part of its ease of doing business initiative.“Based on the feedback from market participants and as a step towards ease of doing business, it has been decided to specify a lighter NISM certification module for PARS” the circular statesUnder the SEBI (Research...

SAT Upholds SEBI Order Directing Sahara Group Firm SICCL To Refund ₹14,106 Crore Raised Through OFCDs

The Securities Appellate Tribunal (SAT) at Mumbai on Monday dismissed appeals filed by Sahara India Commercial Corporation Limited (SICCL) and its directors challenging SEBI's directions to refund Rs 14,106 crore raised from nearly 1.98 crore investors through Optionally Fully Convertible Debentures (OFCDs). A coram of Presiding Officer Justice P.S. Dinesh Kumar and Technical Members Meera Swarup and Dr. Dheeraj Bhatnagar passed the order. It observed, “We have already held that the issue was...

SAT Sets Aside SEBI Disgorgement Order Against Kotak AMC Over Mutual Fund Investments In Essel Entities

The Securities Appellate Tribunal (SAT) on Friday partly allowed appeals filed by Kotak Mahindra Asset Management Company, its Trustee Company and certain officials against SEBI orders directing refund of part of the investment management and advisory fees collected from investors in six close-ended debt mutual fund schemes known as Fixed Maturity Plans (FMPs), and imposing monetary penalties over investments made in Essel Group entities. A coram of Presiding Officer Justice P.S. Dinesh Kumar...

SEBI Introduces Voluntary Debit Freeze Facility For Mutual Fund Folios

The Securities and Exchange Board of India has introduced a voluntary lock-in / debit freeze facility for mutual fund folios across demat and non-demat folios.As per the circular, the facility will enable investors to freeze debit transactions in their mutual fund folios. According to SEBI, this will ensure that no units are debited from the folio until the investor unlocks it.In the first phase, the facility will be made available through the inter-operable Registrar and Transfer Agents (RTA)...

SAT Dismisses Former IndusInd Bank Director's Plea For Full SEBI Probe Records In Insider Trading Case

The Securities Appellate Tribunal (SAT) on Thursday dismissed an appeal filed by former IndusInd Bank Whole Time Director Arun Khurana challenging communications issued by the Securities and Exchange Board of India refusing complete inspection of investigation material in an ongoing insider trading probe. A coram of Presiding Officer Justice P.S. Dinesh Kumar and Technical Members Meera Swarup and Dr. Dheeraj Bhatnagar held that since the matter had not yet reached the adjudication stage, the...

Digital Gold Transactions Not Outside Scope Of BUDS Act Due To Lack Of SEBI/RBI Regulation: Karnataka High Court

The Karnataka High Court has refused to quash criminal proceedings against Jar Gold Retail Private Limited and its director over allegations that its digital gold platform operates as an unregulated deposit scheme.The Court observed that merely because the purchase or storage of gold is not regulated by bodies such as the Securities and Exchange Board of India (SEBI) or the Reserve Bank of India (RBI), such transactions cannot be treated as falling outside the scope of the Banning of Unregulated...

SEBI Issues New Comprehensive Guidelines For Custodians, Mandates Segregation Of Activities

The Securities and Exchange Board of India (SEBI) on Wednesday issued a circular setting out comprehensive guidelines for custodians, pursuant to amendments to the SEBI (Custodian) Regulations, 1996 notified on 18 September 2025. The circular prescribes detailed norms on the segregation of activities, permitting custodians to carry out other financial services through Strategic Business Units, subject to safeguards such as maintaining separate accounts and compliance with net-worth...

SEBI Imposes ₹29 Lakh Penalty on Café Coffee Day Parent, Directors and Senior Officials Over Disclosure Failures

The Securities and Exchange Board of India (SEBI) on Monday imposed penalties totalling Rs 29 lakh on Coffee Day Enterprises Ltd., the parent company behind once popular coffee chain Café Coffee Day, and its directors and former senior officials. The penalty was for failing to recognise Rs 489.49 crore in interest expenses on borrowings in its financial statements over multiple years. SEBI Adjudicating Officer Amit Kapoor held that anticipated settlements with lenders could not justify...

Supreme Court Directs SEBI Recovery Officers To Decide 106 PACL Property Attachment Objections

The Supreme Court has recently directed that 106 applications challenging the attachment of properties linked to PACL Ltd. be examined by Recovery Officers under Section 28A of the SEBI Act. A bench of Justice Pamidighantam Sri Narasimha and Justice Atul S. Chandurkar was dealing with a batch of interlocutory applications filed by individuals and companies against the recommendations of Justice Retd. R.S. Virk, who had recommended dismissal of their objections. Justice Virk had been...

SEBI Tightens Norms for Green Debt Securities, Mandates Independent Reviewers

The Securities and Exchange Board of India (SEBI) on 27 February, revised the norms governing the appointment of independent third-party reviewers or certifiers for green debt securities. Green debt securities are bonds or similar instruments issued to raise funds specifically for environmentally sustainable projects, such as renewable energy, clean transportation, or energy efficiency initiatives. The move aligns the requirements for green debt instruments with the framework applicable to...