SEBI Special Court Must Hear Accused Before Taking Cognizance Of Complaint Under BNSS: Bombay High Court

The Bombay High Court on 15 July held that a Special Court constituted under the Securities and Exchange Board of India Act, 1992 cannot take cognizance of offences on a complaint filed by the Securities and Exchange Board of India (SEBI) without first providing the accused an opportunity of hearing under the first proviso to Section 223(1) of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS), which mandates a pre-cognizance hearing in complaint cases. Justice N.J. Jamadar quashed an order of...

SEBI Simplifies Mutual Fund Transmission Process For Legal Heirs, Nominees

The Securities and Exchange Board of India (SEBI) has announced investor-friendly measures to simplify the process of transferring mutual fund investments to legal heirs or nominees after the death of a unit holder.In a press release issued on Friday, SEBI said it had advised the Association of Mutual Funds in India (AMFI) to further simplify the standards governing the procedure for claiming units or proceeds upon the death of a unit holder. Following SEBI's advice, AMFI amended the...

SEBI Cautions Listed Companies, Regulated Entities Against 'Boss Scam'

The Securities and Exchange Board of India (SEBI) on Friday cautioned regulated entities and listed companies against an emerging cyber fraud known as the "Boss Scam" or CEO/Managing Director impersonation fraud, after the Indian Cyber Crime Coordination Centre (I4C) alerted the market regulator to the trend. SEBI said the fraud involves cybercriminals impersonating Chief Executive Officers, Managing Directors and other senior officials through email, WhatsApp, Microsoft Teams and other social...

SEBI Extends SWP, STP Standing Instruction Facility To Mutual Fund Units Held In Demat Form

The Securities and Exchange Board of India (SEBI) has extended the facility of creating standing instructions for Systematic Withdrawal Plans (SWPs) and Systematic Transfer Plans (STPs) to investors holding mutual fund units in demat form, a move aimed at facilitating ease of doing business. The circular, issued on Friday, requires depositories to implement the framework in two phases and designates them as the nodal facilitators for its rollout. At present, mutual fund investors can create...

Nippon India AIF Entities Settle SEBI Case Over Alleged AIF Regulations Violations

Nippon India Event Opportunities Trust, Nippon Life India AIF Management Limited and several of its key managerial personnel have settled a case with the Securities and Exchange Board of India (SEBI) by paying ₹14.66 lakh over alleged violations relating to the manager's and sponsor's continuing investment in an alternative investment fund. The settlement order was passed by SEBI Whole Time Members Kamlesh C. Varshney and K.V.R. Murty.The proceedings arose from SEBI's examination of the...

SARFAESI Action Against Personal Guarantors Can Continue Without No Pending IBC Case: Telangana High Court

The Telangana High Court has held that a secured creditor is not barred from proceeding against personal guarantors under the SARFAESI Act merely because insolvency proceedings are pending against the corporate debtor. It observed that where no insolvency proceedings have been initiated against the guarantors before the National Company Law Tribunal (NCLT), there is "no legal argument against a secured creditor proceeding against personal guarantors for realization of its dues" under the...

Market Integrity Prevails Over Investor Gains; Profits Can't Excuse Regulatory Breach: Supreme Court

The Supreme Court on Monday held that market integrity and regulatory compliance cannot be compromised merely because investors ultimately earned profits. It ruled that a regulatory breach cannot be excused simply because investors suffered no loss. A bench of Justices Dipankar Datta and Satish Chandra Sharma dismissed appeals filed by Kotak Mahindra Asset Management Company (Kotak AMC), Kotak Mahindra Trustee Company Ltd. and their senior executives. The appeals challenged SEBI's action over...

Auction Purchaser Can Seek Refund If Material Title Defects Were Not Disclosed: Andhra Pradesh High Court

The Andhra Pradesh High Court has directed Indian Bank to refund the entire auction consideration paid by an auction purchaser, along with stamp duty, registration charges, and 9% simple interest, after holding that he could not be compelled to continue with a purchase clouded by title disputes. The court also set aside the sale certificate and the registered sale deed issued in his favour. A Division Bench of Justice Battu Devanand and Justice A. Hari Haranadha Sarma observed that an auction...

SEBI Relaxes Investment Restrictions For Spouses' ESOPs Under Amended Employees' Service Regulations

The Securities and Exchange Board of India (SEBI) on 7 July amended its Employees' Service Regulations to exempt employee stock options (ESOPs) received by the spouses of SEBI employees through their employment from the investment restrictions applicable to employees' family members. Under the amended regulations, such ESOPs will not be treated as restricted investments held by family members of SEBI employees. The regulations also clarify that inadvertent violations by a spouse or dependent...

Supreme Court Seeks Reply On SEBI's Appeal Against SAT Ruling In Bombay Dyeing-SCAL Services Case

The Supreme Court on Monday observed that the Securities Appellate Tribunal's 2:1 verdict setting aside SEBI's orders against Bombay Dyeing and SCAL Services shall not operate as a precedent in similar matters before the Tribunal, while hearing an appeal filed by the Securities and Exchange Board of India (SEBI).The majority judgment had, among other things, held that the Companies Act would prevail over the Accounting Standards in determining whether SCAL was an associate company, and...

'Mandate First, Gains Later; SEBI Compliance, Never Falter': Supreme Court To AMCs And Mutual Fund Houses

The court coined the phrase while dismissing challenges to SEBI's findings against Kotak AMC, its trustee company and senior executives over investments by six fixed maturity plans in Essel Group-linked debt securities

SEBI Prescribes Conditions and Limits For Intraday Borrowings By Mutual Funds

The Securities and Exchange Board of India (SEBI) on Friday issued a revised framework governing the intraday borrowing facility availed by mutual funds. The circular will come into effect from September 1, 2026. The circular follows SEBI's amendment to the SEBI (Mutual Funds) Regulations, 2026 permitting intraday borrowings by mutual funds. It supersedes the guidelines on borrowings of mutual funds contained in the SEBI Master Circular for Mutual Funds dated March 20, 2026 and the SEBI Circular...