Franklin Templeton: SEBI Appoints Observer On The Basis Of Supreme Court's December 9 Order

Securities & Exchange Board of India has appointed an Observer regarding e-voting of unit holders of six schemes of Franklin Templeton Mutual Fund.This comes in light of an order passed by top court of December 9, 2020 whereby the top court had also directed that the result of the e-voting would not be announced and would be produced before the Hon'ble Supreme Court in a sealed cover along with the report of the Observer appointed by the SEBI.The SEBI had been requested to appoint an...

Rs 27 Cr Penalty Imposed On NDTV Promoters Prannoy Roy & Radhika Roy For Concealment Of Information From Shareholders; Roys To Appeal

A year after the Securities and Exchange Board of India (SEBI) first barred NDTV promoters Radhika and Prannoy Roy from accessing securities markets, the regulatory body has imposed Rs. 27 crore as penalty on the the Roys and RRPR Holdings Pvt Ltd for concealing price sensitive information from NDTV shareholders.While Rs. 25 crores have been imposed jointly and severally on the three promoters of the firm, Rs. 1 crore each has to be paid separately by the Roys.Prannoy Roy and Radhika Roy said...

Delhi High Court Seeks Reply From RBI, SEBI, NPCI On Plea Seeking Regulation Of GooglePay, AmazonPay, PhonePe Etc

The Delhi High Court on Wednesday sought reply from the Ministry of Law, Finance Ministry, RBI, SEBI, and National Payments Corporation of India (NPCI) on a public interest litigation seeking regulation of the entry and operations of "tec-fin" companies like GooglePay, AmazonPay, PhonePe and others. The petition, which has been filed by an applied economist, Reshmi P Bhaskaran, seeks the High Court to direct inter alia that these "TechFin" companies be allowed to operate in the country...

Franklin Templeton : Supreme Court Asks SEBI To Appoint Observer For E-Voting; Stay On Redemption Continues

The Supreme Court on Wednesday continued its interim order of December 3 staying the redemption requests from investors in the Franklin Templeton matter till the next date of hearing in the third week of January. A bench of Justices Abdul Nazeer and Sanjiv Khanna was hearing the plea by Franklin Templeton Trustee Services Pvt Ltd challenging a Karnataka HC order which restrained winding up of six of its debt schemes without obtaining the consent of its investors by a simple majority. On December...

"You Have Our Sympathy, But We Can't Take It On Ourselves To Collect & Distribute Money": SC On Victims Of Ponzi Scheme

The Supreme Court on Tuesday asked for suggestions as to the relief which it may grant to the victims in the 2018 ponzi scheme run by Future Maker Life Care Pvt Ltd, which involved a fraud of thousand of crores of rupees.The writ petition by the aggrieved was being heard by a bench of Justices L. Nageswara Rao, Hemant Gupta and Ajay Rastogi."You have our sympathy, but the Supreme Court is not the right place. There are 100s of people who have cheated thousands and lakhs of people. We can't take...

[Franklin Templeton Case] SEBI Was A Silent Spectator; Prompt Action Was Needed : Karnataka High Court

In its judgment restraining Franklin Templeton from proceeding on notices issued for winding up of six debt schemes without obtaining the consent from unit investors, the Karnataka High Court has pulled up the Securities and Exchange Board of India (SEBI) for failing to act promptly to sustain the confidence of the investors. A division bench comprising Chief Justice Abhay S Oka and Justice Ashok S Kinagi observed :"All that can be said is that SEBI should have been prompt and...

Assistant Manager (Legal) Vacancy At SEBI

Securities and Exchange Board of India invites online application for the post Assistant Manager under the Legal stream. Name of the Post: Assistant Manager (Legal) No. of Post: 28 (Twenty-Eight) Essential Qualification and Experience Bachelor's Degree in Law from a recognized University / Institute How to apply? To Apply online click here Important Date On-Line Application and Payment of fee On-Line: March 07, 2020 to October 31, 2020 ...

Assistant Manager (General) Vacancy At SEBI

Securities and Exchange Board of India invites online application for the post Assistant Manager under the General stream. Name of the Post: Assistant Manager (General) No. of Post: 80 (Eighty) Essential Qualification and Experience Master's Degree in Law from a recognized University / Institute How to apply? To Apply online click here Important Date On-Line Application and Payment of fee On-Line: March 07, 2020 to October 31, 2020 To...

Reflections On S. 47 Of The Code Of Criminal Procedure, 1973

On several occasions, while referring to the Code of Criminal Procedure, 1973(hereinafter referred to as the Cr.P.C or the Code), one comes across provisions which may seem simple enough on the surface, but which leave a lot of scope for interpretation, that too, in diametrically opposite ways, when it comes to their implementation. The proviso to Section 47 of the Cr.P.C is one such provision. Section 47 makes it lawful for policemen to break and enter into the residence of any...

Franklin Templeton : SC Transfers Pleas In Madras, Delhi & Gujarat HCs Against Winding Up Of Debt Funds To Karnataka HC

The Supreme Court has transferred the petitions pending in the High Courts of Gujarat, Madras and Delhi challenging the winding up of the debt funds of Franklin Templeton to the High Court of Karnataka."Let the matters be transmitted to the High Court of Karnataka within 15 days by the concerned High Courts. Let the High Court of Karnataka hear and finally decide the matter, including the SEBI appeal, within three months", ordered a bench comprising Justices Arun Mishra and S Abdul Nazeer on...

Delhi HC Issues Notice On Plea Challenging Franklin Templeton's Decision To Wind Up 6 Debt Funds

The Delhi HC has issued notice to the Trustee and Asset Management Company of Franklin Templeton Mutual Fund and also to SEBI on a writ petition challenging the Winding Up notice issued by the Mutual Fund to close its 6 debt fundsThe petition filed by Amruta Garg also challenges a consequent notice issued for E-voting. Challenge has also been made to SEBI's Mutual Fund Regulations. Petitioner has also prayed for refund of her money from Franklin Templeton. The U.S. parent of Franklin Templeton...

Assistant Manager (Legal) Vacancy At SEBI

Securities and Exchange Board of India invites application for the post Assistant Manager under the Legal stream. Name of the Post: Assistant Manager (Legal) No. of Post: 28 (Twenty-Eight) Essential Qualification and Experience Bachelor's Degree in Law from a recognized University / Institute How to apply? To Apply online click here Important Date On-Line Application and Payment of fee On-Line: March 07, 2020 to July 31, 2020 To...