SECURITIES LAW
SEBI Penalises 18 Entities ₹2.8 Crore For Manipulating RGRL Scrip Through Telegram Stock Tips
The Securities and Exchange Board of India has imposed penalties totalling Rs 2.8 crore on 18 noticees in the matter of Retro Green Revolution Limited (RGRL), in proceedings involving 21 noticees accused of manipulating the company's shares through Telegram stock tips and synchronized trading. SEBI also barred eight noticees from accessing the securities market and ordered disgorgement of Rs 2.94 crore with interest from two noticees linked to the Choksi group, who were found to be the ultimate...
SEBI Proposes To Simplify Nomination Rules For Demat, Mutual Funds; Suggests Cutting Nominee Limit To 4
The Securities and Exchange Board of India (SEBI) has recently issued a consultation paper proposing to simplify nomination norms for demat accounts and mutual fund folios after operational difficulties were reported in implementing its January 10, 2025 circular that had revamped the nomination framework. In the January circular, SEBI had made nomination mandatory for single holders, allowed up to ten nominees, required detailed nominee information, and introduced a facility enabling a nominee...
Diversion Of Preferential Issue Funds For Undisclosed Purpose Amounts To Fraud Under PFUTP Regulations: Supreme Court
The Supreme Court on Tuesday held that diversion of funds raised through a preferential issue for purposes not disclosed in the notice of the Extraordinary General Meeting (EoGM) convened to approve the allotment amounts to a violation of securities law and constitutes fraudulent conduct under the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations (PFUTP). A bench of Justices J.B. Pardiwala and K.V. Viswanathan made the ruling while allowing appeals filed by the Securities...
Standard Chartered Bank Settles SEBI Proceedings, Pays ₹57.20 Lakh Over FPI Lapses
Standard Chartered Bank has settled adjudication proceedings with SEBI after paying Rs 57.20 lakh to resolve alleged lapses as a Designated Depository Participant relating to Foreign Portfolio Investors (FPIs).SEBI's Adjudicating Officer Sudeep Mishra passed the settlement order, disposing of the proceedings in terms of SEBI Act, 1992 and SEBI (Settlement Proceedings) Regulations, 2018.SEBI alleged that the bank failed to timely report material changes relating to beneficial ownership of FPIs,...
Supreme Court Refuses To Interfere With Bombay High Court Order Dismissing Plea Against WeWork India IPO
The Supreme Court recently refused to interfere with the Bombay High Court's decision dismissing a challenge to the Initial Public Offering (IPO) of WeWork India Management Pvt Ltd.A Bench comprising Justice Pamidighantam Sri Narasimha and Justice Alok Aradhe dismissed a Special Leave Petition filed by Hemant Kulshrestha, who had alleged deficiencies in disclosures in the offer documents relating to WeWork India IPO.The petition arose from a judgment dated 1 December 2025 of the Bombay High...
Shareholder Ratification Cannot Wipe Out Liability For Violation Of SEBI Regulations: Supreme Court
The Supreme Court on Tuesday observed that violations of SEBI regulations cannot be nullified through shareholder ratification, observing that regulatory breaches affecting multiple stakeholders must face statutory consequences.A bench of Justices J.B. Pardiwala and K.V. Viswanathan while setting aside the order dated June 2, 2022 passed by the Securities Appellate Tribunal, which had set aside penalties imposed by SEBI on Terrascope Ventures Ltd and its directors.“SEBI's Regulations...
SEBI Revises Core Settlement Guarantee Fund Coverage Norms For Commodity Derivatives Segment
The Securities and Exchange Board of India (SEBI) on Monday issued a circular revising the norms related to Core Settlement Guarantee Fund (Core SGF) in the commodity derivatives segment.Under the revised framework, clearing corporations must calculate credit exposure assuming the simultaneous default of at least three clearing members (and their associates) causing the highest credit exposure. Earlier, the framework required credit exposure assuming simultaneous default of at least 2 clearing...
Supreme Court Allows Avadhut Sathe Trading Academy To Withdraw ₹2.25 Crore Monthly For Operational Expenses In SEBI Case
The top court, however, refused to interfere with the Securities Appellate Tribunal’s order dated January 22, 2026, directing the academy to deposit ₹100 crore in the proceedings initiated by SEBI over alleged unregistered investment advisory activities.
Dr Sadanand Date Takes Charge As SEBI Executive Director, Will Oversee Investigations Department
Dr. Sadanand Date, a 2007-batch IPS officer of the Uttarakhand cadre, took charge as Executive Director of the Securities and Exchange Board of India (SEBI) in Mumbai on March 4, 2026, and will oversee the investigations department, the regulator said in a press release dated March 13. Date was earlier on central deputation to the Central Bureau of Investigation (CBI), where he served in various capacities, including as SP ACB/BSFC, and headed the Economic Offences Branch, Special Crime Branch,...
SEBI Imposes ₹10 Lakh Penalty On Anand Rathi Share And Stock Brokers For Cyber Security And Compliance Lapses
The Securities and Exchange Board of India (SEBI) on Friday imposed a penalty of Rs 10 lakh on Anand Rathi Share and Stock Brokers Limited for violations of cybersecurity and cyber resilience requirements under the SEBI (Stock Brokers) Regulations, 1992, and applicable SEBI and exchange circulars. SEBI Adjudicating Officer Amit Kapoor passed the order after holding that the broker had failed to comply with provisions of the Stock Brokers Regulations and the Cyber Security and Cyber Resilience...
SEBI Allows Intraday Borrowing By Mutual Funds To Bridge Inflow–Outflow Mismatch From April 1, 2026
The Securities and Exchange Board of India (SEBI) on Friday issued a circular allowing mutual funds to undertake intraday borrowings from banks or financial institutions to bridge temporary timing mismatches between inflow and outflow of funds. SEBI noted that redemption payouts to investors are often processed in the morning, while maturity proceeds from instruments such as TREPS or reverse repos are received in the evening hours of the same day, creating a temporary timing mismatch. To...