SECURITIES LAW
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...
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...