JM Financial And Six Others Settle With SEBI, Pay Over Rs 23 Lakh In Regulatory Violation Case

Seven entities, including JM Financial Ltd and six individuals, have collectively paid a settlement amount of a little over Rs 23 lakh to the Securities and Exchange Board of India (SEBI) to resolve a case concerning alleged violations of various regulations. According to SEBI's order dated May 21, 2024, JM Financial Ltd has paid Rs 15 lakh as a settlement fee, while six individuals have collectively paid Rs 8.12 lakh towards the settlement charges. The allegations against the...

Companies Can Retain DVR Shares with Differential Voting & Dividend Rights Issued Before SEBI's Restrictive Circular: SEBI

The Securities and Exchange Board of India (SEBI) has clarified that companies can retain Differential Voting Rights (DVR) shares with their original differential voting and dividend rights, provided these shares were issued before SEBI's restrictive circular of July 2009. Jagatjit Industries Limited (JIL), a public limited company engaged in the production of alcoholic beverages, malted milk food products, malt extracts, extra neutral alcohol, and real estate, has sought clarification...

SEBI Introduces Changes to Market Capitalisation Computation and Rumour Verification Regulations

The Securities and Exchange Board of India (SEBI) has announced significant modifications to its Listing Obligations and Disclosure Requirements (LODR) regulations, affecting how market capitalisation of listed companies is computed and introducing new protocols for market rumour verification. Revised Market Capitalisation Computation Method SEBI has shifted from a single-day market capitalisation calculation, previously determined on March 31 each year, to an average market...

SEBI Issues Show Cause Notices to Seven Adani Group Companies for Regulatory Violations In Fiscal Year 2024

In the fiscal year 2024, seven out of the ten listed companies of the Adani Group were issued show cause notices by the Securities and Exchange Board of India (SEBI). These notices, which were issued during the fourth quarter stated violations including non-compliance with listing agreements and related party transaction norms. Despite these allegations, the companies reported that the notices had no significant impact on their financial statements. The affected companies include Adani...

SEBI Issues Comprehensive Master Circular For ESG Rating Providers

The Securities and Exchange Board of India (SEBI) has released a Master Circular specifically aimed at Environmental, Social, and Governance (ESG) Rating Providers (ERPs). This circular, announced on July 12, 2023, consolidates existing guidelines and regulations under the Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 (CRA Regulations) The Master Circular serves as a single reference point for all procedural and disclosure requirements applicable to...

SEBI Amends Buy-Back Regulations To Exclude Material Price Movements

The Securities and Exchange Board of India (SEBI) has introduced amendments to the SEBI (Buy-Back of Securities) Regulations, 2018, via the SEBI (Buy-Back of Securities) (Amendment) Regulations, 2024. These changes, effective from May 17, 2024, focus on excluding the impact of material price movements and confirmed events when determining the volume-weighted average market price of a company's equity shares. The amendments primarily alter Regulation 19 of the 2018 Buy-Back Regulations....

A Comprehensive Overview Of The Proposed Clampdown On Fin Influencers

The Securities Exchange Board of India released a “Consultation Paper on Association of SEBI Registered Intermediaries/Regulated Entities with Unregistered Entities (including Finfluencers)”, the objective of the same being to seek comments from the public. The SEBI with this paper seeks to regulate the Finfluencers which are usually unregistered. An influencer is a person who has the access and power to attract people and can influence other people's decisions. Furthermore, Finfluencers or...

A Comprehensive Overview Of The Proposed Clampdown On Fin Influencers

The Securities Exchange Board of India released a “Consultation Paper on Association of SEBI Registered Intermediaries/Regulated Entities with Unregistered Entities (including Finfluencers)”, the objective of the same being to seek comments from the public. The SEBI with this paper seeks to regulate the Finfluencers which are usually unregistered. An influencer is a person who has the access and power to attract people and can influence other people's decisions. Furthermore, Finfluencers or...

Unraveling ESG Regulations: A Closer Look At India's Approach

As the landscape of corporate India is shifting towards sustainability, the relevance of Environmental, Social, and Governance (ESG) regulations is growing rapidly. ESG regulations are different standards the government prescribes for actions relating to the same. The purpose of these regulations is to motivate companies to adopt sustainable measures and practices that will ultimately result in a sustainable and ethical impact and will also protect their investors from greenwashing. These...

Adani-Hindenburg : Newspaper Articles & OCCRP Report Not Conclusive Proof To Doubt SEBI Probe, Says Supreme Court

While declining to order an investigation by a Special Investigation Team (SIT) into allegations levelled against the Adani Group in the Hindenburg Research report, the Supreme Court on Wednesday (January 3) refused to accept the reports published by newspapers and the Organized Crime and Corruption Reporting Project (OCCRP).The three-Judge bench of Chief Justice of India DY Chandrachud, Justices JB Pardiwala and Manoj Misra observed that reports of independent groups or investigative...

Decoding ESG For Start-ups

What is ESG? ESG are a set of standards that are used to evaluate an organization’s non-financial performance. The standards rest on three pillars, ‘E’ for Environmental, ‘S’ for Social and ‘G’ for Governance. According to the 2021-22 Economic Survey, India has the third largest startup ecosystem (over 100,000 startups) in the world following after US and China. However, only 7% of startups have a net zero (emission of greenhouse gases being balanced by removal) plan in place....

Decoding ESG For Start-ups

What is ESG? ESG are a set of standards that are used to evaluate an organization’s non-financial performance. The standards rest on three pillars, ‘E’ for Environmental, ‘S’ for Social and ‘G’ for Governance. According to the 2021-22 Economic Survey, India has the third largest startup ecosystem (over 100,000 startups) in the world following after US and China. However, only 7% of startups have a net zero (emission of greenhouse gases being balanced by removal) plan in place....