HDFC Property Fund, HDFC Capital Advisors Settle Proceedings Over Delayed Winding Up Of Venture Capital Schemes

HDFC Property Fund and HDFC Capital Advisors Limited have settled proceedings before the Securities and Exchange Board of India (SEBI) by paying ₹26.01 lakh in a matter concerning the delayed winding up of two venture capital fund schemes. The settlement order was passed by SEBI Whole Time Members Amarjeet Singh and Kamlesh C. Varshney after the entities filed suo motu settlement applications under the SEBI (Settlement Proceedings) Regulations, 2018. The applicants proposed to settle the matter...

Supreme Court Issues Notice In SEBI Appeal Against SAT Relief To Sahara Officials In ₹14,106 Crore OFCD Case

The Supreme Court on Thursday issued notice in an appeal filed by SEBI challenging a Securities Appellate Tribunal (SAT) order granting relief to certain officials of Sahara India Commercial Corporation Ltd. (SICCL) including its managers and company secretary, from liability arising out of the company's ₹14,106 crore OFCD fund-raising scheme.A vacation bench of Chief Justice Surya Kant and Justice V. Mohana while issuing notice tagged the case with a similar pending matter, which will be heard...

SEBI Warns Investors Against Trading Unlisted Shares On Unauthorised Platforms

The Securities and Exchange Board of India (SEBI) has cautioned investors against trading securities of unlisted public limited companies through unauthorised electronic platforms and websites.In a press release issued on Tuesday, SEBI said it had come to its notice that certain electronic platforms and websites were facilitating transactions and trading in securities of unlisted public limited companies.It stated that press releases were earlier issued cautioning investors against conducting...

Director Cannot Evade Statutory Duties By Claiming Another Director Was In Charge: SAT Mumbai

The Securities Appellate Tribunal at Mumbai (SAT) on 15 June held that a company director cannot avoid statutory responsibility by claiming that another director was managing the company's affairs, while partly allowing an appeal concerning penalties imposed for failure to redress investor grievances. Presiding Officer Justice P.S. Dinesh Kumar and Members Meera Swarup and Dr. Dheeraj Bhatnagar partly allowed the appeal filed by Sanjay Dwivedi and Deepali Dwivedi against an adjudication order...

SAT Sets Aside SEBI's ₹50 Lakh Penalty On Citrus Check Inns Directors Over Violation Of Natural Justice

The Securities Appellate Tribunal (SAT) has set aside a ₹50 lakh penalty imposed by the Securities and Exchange Board of India (SEBI) on three directors of Citrus Check Inns Limited. It held that the adjudication proceedings were vitiated by a violation of the principles of natural justice due to improper service of notices. A coram of Presiding Officer Justice P.S. Dinesh Kumar and Technical Members Meera Swarup and Dr. Dheeraj Bhatnagar allowed the appeals filed by Omprakash Basantlal Goenka,...

SEBI Penalises OnePaper Research Analysts ₹30 Lakh For Failing To Monitor Employee Communications

The Securities and Exchange Board of India (SEBI) on Tuesday imposed a penalty of ₹30 lakh on Bengaluru-based OnePaper Research Analysts Private Limited. The regulator found that the firm failed to maintain adequate controls over employee communications with clients and did not ensure compliance with regulatory requirements governing research analysts. The order was passed by Adjudicating Officer Amit Kapoor following proceedings arising from an inspection covering the period between April...

SEBI Allows AIFs To Retain Proceeds Beyond Fund Life For Litigation, Tax Demands, Other Liabilities

The Securities and Exchange Board of India (SEBI) on Tuesday issued fresh guidelines governing the winding up of Alternative Investment Funds (AIFs), including the retention of proceeds beyond the permissible fund life and the introduction of an "Inoperative Fund" framework. The circular permits AIFs to retain liquidation proceeds beyond their permissible fund life to meet liabilities arising from pending litigation, tax or regulatory demands, anticipated liabilities arising from possible...

SEBI Revises ETF Trading Norms, Introduces Dynamic Price Bands For Equity, Debt and Commodity ETFs

The Securities and Exchange Board of India (SEBI) on Monday revised the trading framework for Exchange Traded Funds (ETFs) by linking ETF price bands to the previous day's closing price and introducing dynamic price bands for equity, debt and commodity ETFs. SEBI observed that the existing ETF framework involved a one-day lag in determining the base price and that the fixed price bands were not commensurate with movements in the underlying assets. Accordingly, based on recommendations of the...

Angel One Settles SEBI Proceedings Over Alleged Supervisory Lapses, Pays ₹4.28 Crore

Stockbroker Angel One Limited has settled adjudication and enquiry proceedings initiated by the Securities and Exchange Board of India. The settlement follows payment of ₹4.28 crore in relation to allegations concerning its handling of certain activities of two authorised persons. In the order passed on Monday, SEBI Adjudicating Officer and Designated Authority Medha Sonparote observed: "In view of the receipt of settlement amount by SEBI, the instant Adjudication and Enquiry Proceedings...

SAT Quashes 2010 SEBI Penalty Order Citing 13-Year Delay In Serving Adjudication Order

The Securities Appellate Tribunal (SAT) at Mumbai has set aside a 15-year-old penalty order passed by the Securities and Exchange Board of India (SEBI) against Prince Securities. The tribunal held that, in the facts of the case, any further continuation of proceedings pursuant to an adjudication order that remained unserved on the appellant for 13 years would amount to an abuse of process of law. A coram of Presiding Officer Justice P.S. Dinesh Kumar and Technical Members Meera Swarup and Dr....

SEBI Moves SC Against SAT Relief To Sahara Managers In ₹14,106 Crore OFCD Case

The Securities and Exchange Board of India (SEBI) has moved the Supreme Court challenging a Securities Appellate Tribunal (SAT) order that granted relief to four managers and the company secretary of Sahara India Commercial Corporation Ltd (SICCL). The tribunal had set aside, insofar as they were concerned, a 2018 SEBI order in the Rs 14,106 crore Optionally Fully Convertible Debentures (OFCDs) case involving nearly 1.98 crore investors. The challenge comes after the SAT on March 9, 2026,...

SEBI Proposes Harmonised Price Bands, Pre-Open Auction Base Prices For Stocks Listed On Multiple Exchanges

The Securities and Exchange Board of India (SEBI) on Thursday issued a consultation paper proposing a common mechanism for determining the base price in the pre-open call auction session. It also proposed a uniform approach for fixing price bands for stocks listed on multiple stock exchanges. SEBI noted that the previous day's closing price is used to determine the base price for the pre-open session and the applicable price bands. However, each exchange currently calculates these price bands...