SECURITIES LAW
SEBI Proposes IT Resilience Index For Market Infrastructure Institutions, Invites Public Comments
The Securities and Exchange Board of India (SEBI) on Wednesday issued a consultation paper proposing an IT Resilience Index for Market Infrastructure Institutions to periodically assess the health of their IT systems.SEBI noted that IT systems of MIIs are the cornerstone of their smooth and uninterrupted functioning, and creation of such an index would provide insights to the management and oversight committees on system health and possible areas of improvement.The proposed framework aims to...
SEBI Bars 4 Entities From Securities Market For 2 Years, Orders ₹2.64 Crore Disgorgement In Sarvottam Front-Running Case
The Securities and Exchange Board of India (SEBI) has held four entities guilty of front-running trades of Sarvottam Securities Pvt Ltd. The regulator ordered disgorgement of Rs 2.64 crore, barred them from the securities market for two years, and imposed a penalty of Rs 5 lakh each.SEBI's quasi-judicial authority, N. Murugan, found that a dealer at Findoc Investmart Pvt. Ltd. had misused access to non-public information regarding impending orders of the client to execute trades in...
SEBI Allows Cost Accountants To Conduct Annual Audit Of Research Analysts, Investment Advisers
The Securities and Exchange Board of India on Wednesday clarified that members of the Institute of Cost Accountants of India are eligible to conduct annual audits of Research Analysts and Investment Advisers.Referring to its Master Circulars dated February 6, 2026, the regulator noted that earlier provisions permitted only members of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India to conduct such audits.Considering representations and recognition...
SEBI Postpones Implementing Intraday Borrowing Norms For Mutual Funds To 15 July Amid AMC Challenges
Today, the Securities and Exchange Board of India (SEBI) deferred the implementation of guidelines on intraday borrowing by mutual funds to 15 July 2026, citing operational challenges faced by asset management companies. The circular, issued as an addendum to SEBI's earlier circular dated 13 March 2026 on borrowing by mutual funds, noted that intraday borrowing norms were specified under clause 5.9.1 of the Master Circular. To address operational difficulties raised by AMCs, SEBI has postponed...
Anil Ambani Moves Supreme Court Against Bombay HC Order Allowing Banks To Continue Fraud Classification Proceedings
Industrialist Anil D. Ambani has moved the Supreme Court challenging the Bombay High Court's February 23 judgment that allowed public sector banks to proceed against him on the basis of a 2020 forensic audit report linked to alleged irregularities in loans taken by Reliance Communications group companies.The special leave petition challenges the Division Bench order, which set aside an earlier interim relief granted to Ambani and permitted Bank of Baroda, IDBI Bank, and Indian Overseas Bank to...
SEBI Proposes Introduction Of Gift Cards For Mutual Fund Subscriptions To Boost Investor Participation
The Securities and Exchange Board of India (SEBI) has proposed allowing Gift Card and Gift Prepaid Payment Instruments (PPIs) to be used for subscribing to mutual fund units. In a consultation paper dated 23 March 2026, it stated that “Gift Card/ Gift PPI is expected to improve financial inclusion through onboarding of new investors in the mutual fund space.” SEBI explained that a purchaser can gift a Gift Card or Gift PPI to a recipient, who can then use it to subscribe to mutual fund units....
SEBI Board Approves Key Reforms For AIFs, Reduces Social Impact Fund Investment Threshold To ₹1000
In a recent press release, the Securities and Exchange Board of India (SEBI) stated that in a meeting held on 23 March 2026, its Board approved multiple measures to enhance ease of doing business, strengthen regulatory frameworks, and improve governance. The Board approved proposals to amend the SEBI (Alternative Investment Funds) Regulations, 2012 to allow alternative investment funds (AIFs) to retain liquidation proceeds beyond the completion of their tenure. It permits tagging certain AIFs...
SEBI Relaxes Reporting Norms For Stock Brokers, Removes Requirement To Report Demat Accounts
The Securities and Exchange Board of India (SEBI) on Monday issued a circular introducing ease of doing business measures by relaxing reporting requirements for stock brokers, including doing away with the requirement for brokers to report their own demat accounts to stock exchanges The circular amends provisions relating to enhanced supervision of stock brokers and depository participants under para 15 of the Master Circular for Stock Brokers dated June 17, 2025. Under the existing framework,...
Supreme Court Dismisses Riddhi Siddhi Appeal Against SAT Order In SEBI Delisting, MPS Norm Violations Case
The Supreme Court recently dismissed appeals filed by Riddhi Siddhi Gluco Biols Limited against the Securities Appellate Tribunal's order upholding SEBI's findings of violation of minimum public shareholding norms, non-disclosure of promoter group entities, and fraudulent trading in the company's scrip during a proposed delisting process, holding that no substantial question of law arises for consideration.A division bench of Justice Sanjay Kumar and Justice K. Vinod Chandran refused to...
SEBI Amends ICDR Regulations, Revises Disclosure Requirements For Abridged Prospectus
The Securities and Exchange Board of India (SEBI) has amended the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, by notifying the SEBI (ICDR) (Amendment) Regulations, 2026, on 16 March.Under the amended regulations, a draft abridged prospectus must be submitted along with the offer documents and filed with SEBI and the stock exchanges. The abridged prospectus is required to be made available on the websites of the issuer, SEBI, stock exchanges, and lead managers, and must...
SEBI Allows Processing Of Vishvaraj Environment IPO Documents After RBI Regularises Violations
The Securities and Exchange Board of India (SEBI) on Friday disposed of proceedings initiated in relation to the proposed Initial Public Offering (IPO) of Vishvaraj Environment Limited, observing that the regulatory violations flagged by the Reserve Bank of India had been subsequently regularized.SEBI's Whole Time Member Kamlesh Chandra Varshney passed the order.“The department is advised to process the offer documents in regular course and carry out their due diligence as done in any other...
JP Morgan Chase Bank Settles SEBI Proceedings Over FPI Regulation Violations For ₹34.42 Lakh
US-based banking major J.P. Morgan Chase Bank on Friday settled proceedings that may be initiated with the Securities and Exchange Board of India in relation to alleged violations of Foreign Portfolio Investor (FPI) regulations upon payment of Rs 34.42 lakh as a settlement amount.The order was passed by Whole Time Members Kamlesh Chandra Varshney and Amarjeet Singh in exercise of powers under the SEBI Settlement Regulations.JP Morgan Chase Bank had filed a suo motu settlement application under...