Bombay High Court Sets Aside Arbitral Awards Holding Sharekhan Liable For Investor Losses In F&O Trades

The Bombay High Court recently ruled that mere violation of SEBI's trade confirmation circular does not automatically make a broker liable for market losses, and it set aside arbitral awards that directed stockbroker Sharekhan Limited to reimburse investors for losses sustained in Futures and Options (F&O) trading. The Single Bench on 24th December, 2025, decided that investors who authorised an individual to trade on their behalf could not thereafter retract those trades and shift losses to...

SEBI Cancels Research Analyst Registration After Holder Says He Runs Grocery Shop, Not Market Activities

The Securities and Exchange Board of India (SEBI) has cancelled the registration of a research analyst who told the regulator that he runs a small grocery shop and is not engaged in securities market activities, after proceedings relating to the misuse of his SEBI registration details by an unregistered investment advisory firm. The noticee had been registered with SEBI as a Research Analyst since June 19, 2018. The action follows complaints received in June 2022 and February 2023...

Securities Markets Code, 2025: What Is New In the Government's Proposed Overhaul of Capital Markets Law

The Central government on Thursday introduced the Securities Markets Code, 2025 in the Lok Sabha, proposing a single, consolidated law to govern India's securities markets. The proposed bill repeals the Securities Contracts (Regulation) Act, 1956, the Securities and Exchange Board of India Act, 1992, and the Depositories Act, 1996.Beyond consolidation, It also introduces introduces several substantive changes to existing regulatory mechanism Expanded Definition of 'Securities'One of the...

Appointment Of SEBI Adjudicating Officer To Conduct Inquiry Is An Administrative Step, Not Finding Of Guilt: Delhi High Court

The Delhi High Court has recently held that the appointment of an adjudicating officer by the Securities and Exchange Board of India (SEBI) is only an administrative step to initiate an inquiry and does not amount to finding of guilt at that stage. A Division Bench of Justices Anil Kshetarpal and Harish Vaidyanathan Shankar overturned a Single Judge's decision that had halted SEBI's action against Amit Jain, a significant shareholder of Himalaya Granites Ltd., for allegedly not disclosing his...

NCLT Mumbai Sanctions Vedanta Demerger Plan

The National Company Law Tribunal (NCLT) at Mumbai on Tuesday sanctioned Vedanta Ltd's demerger, approving the restructuring scheme under which the metal and mining conglomerate will split its businesses into separate sector focused entities. The order was pronounced by a bench comprising Judicial Member Nilesh Sharma and Technical Member Charanjeet Singh. "From the material on record, the Scheme appears to be fair and reasonable and is not violative of any provisions of law and is not...

SEBI Penalty Levied After Commencement Of Liquidation Not Admissible As Claim: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at New Delhi on Friday held that penalties imposed by the Securities and Exchange Board of India (SEBI) after the commencement of liquidation cannot be admitted as claims under the Insolvency and Bankruptcy Code, rejecting SEBI's Rs 21.80 lakh claim against Annies Apparel Pvt. Ltd. A bench comprising Chaiperson Justice Ashok Bhushan and Technical Member Barun Mitra observed, “When the claim had not arisen or crystallised on the liquidation...

Supreme Court Rejects CA's Plea Against Mutual Funds 'Sahi Hai' Ads

The Supreme Court today dismissed a challenge to Bombay High Court's dismissal of a PIL against endorsement of mutual funds through advertisements like 'Mutual Funds Sahi Hai' and 'Mutual Funds mein SIP sahi hai'.A bench of Justices Vikram Nath and Sandeep Mehta passed the order, after hearing petitioner-Chandrakant C Shah in-person.The petitioner argued that the High Court found an element of public interest at first and issued notice in the matter, but subsequently, it "hastily" dismissed the...

SAT Upholds SEBI Order Against Linde India, Says All Related Party Deals Must Be Aggregated For Materiality

The Securities Appellate Tribunal (SAT) has upheld a July 2024 SEBI order directing Industrial gas supplier company Linde India Ltd to aggregate all related-party transactions (RPTs) with a single related party in a financial year to determine materiality and to undergo a valuation of business allocated under a joint venture agreement. A coram of Presiding Officer Justice PS Dinesh Kumar and Technical Members Meera Swarup and Dheeraj Bhatnagar dismissed Linde India's appeal on...

SEBI Cracks Down On Finfluencer Avadhut Sathe, Impounds ₹546 Crore For Providing Unregistered Investment Advice

The Securities and Exchange Board of India (SEBI) has banned finfluencer Avadhut Sathe from the securities market and impounded Rs 546.16 crore of unlawful gains after finding that he was providing unregistered investment advisory services in the garb of stock market education. SEBI also found that many participants who acted on his instructions suffered losses, while Sathe himself often did not take the same trades. In an interim order passed by Whole Time Member Kamlesh C. Varshney, SEBI also...

SEBI Acted With 'Due Care And Caution' In Clearing WeWork India IPO: Bombay High Court

The Bombay High Court on Monday observed that SEBI had exercised “due care and caution” in clearing the WeWork India IPO, while dismissing two petitions that alleged the regulator failed to act on complaints of inadequate disclosures in the offer documents of the Indian arm of global co-working space brand. A division bench of Justice RI Chagla and Farhan P Dubash said it was “satisfied that SEBI has indeed exercised due care and caution and complied with the legal requirements, including...

Bombay High Court Dismisses Plea Challenging WeWork India IPO, Imposes ₹1 Lakh Cost On Petitioner

The Bombay High Court on Monday dismissed two petitions challenging the IPO of WeWork India, bringing an end to an attempt by two retail investors to stop or modify the company's public issue over allegations of inadequate disclosures.A division bench of Justice R I Chagla and Justice Farhan A Dubash dismissed the petition filed by an invetsor Hemant Kulshreshtha with no order as to costs, while the petition filed by another investor Vinay Bansal was dismissed with a cost of Rs 1 lakh, to be...

SEBI Penalises Reliance Securities ₹5 Lakh For Cyber Security Lapses Found During Investigation

The Securities and Exchange Board of India (SEBI) on Wednesday imposed a penalty of Rs 5 lakh on Reliance Securities Limited after the regulator found several violations of cyber security and cyber resilience norms during an inspection covering April 01, 2023 to October 31, 2024. The order, passed by Adjudicating Officer Amit Kapoor, said the brokerage failed to comply with critical safeguards, including capacity planning, automated software testing, log preservation, disaster recovery...