SEBI Proposes “GARUDA” Fast-Track Framework To Cut AIF Launch Timeline To 10 Days

The Securities and Exchange Board of India (SEBI) has issued a consultation paper proposing a new fast-track mechanism titled “Green-Channel: AIF Rollout Upon Document Acknowledgement” (GARUDA) for processing Placement Memorandums (PPMs) filed by Alternative Investment Funds (AIFs). SEBI noted that the AIF industry has been growing rapidly and that the inflow of applications for registration and scheme launches has increased significantly. The proposals aim to facilitate faster and more...

SAT Stays SEBI Order Directing Setco Automotive Promoters To Bring Back ₹208.77 Crore

The Securities Appellate Tribunal (SAT) has recently stayed SEBI's direction requiring Setco Automotive promoters to bring back ₹208.77 crore in an alleged fund diversion case, prima facie holding that a regulator cannot override lawful shareholder-approved business decisions. “In our view, shareholders' opinion and business decision, if they are lawful, cannot be substituted by the Regulator.” The interim relief was granted by Presiding Officer Justice P.S. Dinesh Kumar, Technical Member...

SAT Upholds BSE Rejection Of Jetking Share Listing Plea Over Crypto Investments

The Securities Appellate Tribunal (SAT) has upheld BSE's decision to return Jetking Infotrain Limited's listing application for shares issued through a preferential allotment. It held that the company's preferential fundraise and all subsequent actions, including investment in virtual digital assets (VDAs), before the amendment of its main objects clause were ultra vires its Memorandum of Association (MoA). A coram of Presiding Officer Justice P.S. Dinesh Kumar and Technical Members Meera...

SEBI Proposes Scrapping Mandatory Merchant Banker Requirement For Buy-Backs; Seeks Public Comments

The Securities and Exchange Board of India (SEBI) has proposed dispensing with the mandatory requirement of appointing merchant bankers for buy-backs, as part of a wider review and rationalisation of the SEBI (Buy-Back of Securities) Regulations, 2018. The proposals also include changes relating to shareholder intimation, promoter participation, minimum public shareholding compliance, interval between buy-backs, and open market buy-backs through stock exchanges. SEBI said it had earlier...

SEBI Eases Norm For Educational Use Of Market Price Data, Cuts Lag To 30 Days From 3 Months

The Securities and Exchange Board of India (SEBI) has issued a circular revising norms governing the sharing and usage of market price data for educational purposes, prescribing a uniform 30-day lag for both sharing and usage of such data. SEBI had earlier issued circulars dated May 24, 2024 and January 29, 2025 regulating the sharing and use of real-time market price data by Market Infrastructure Institutions (MIIs) and intermediaries. While the 2024 circular permitted sharing of such data...

“Structurally Redundant”: SEBI Discontinues IRRA Trading Access Platform Nearly Two Years After Introduction

The Securities and Exchange Board of India (SEBI) on Thursday discontinued the Investor Risk Reduction Access (IRRA) platform, an alternative trading access mechanism introduced for stock brokers to handle disruptions in trading services. SEBI said stock exchanges had informed it that the IRRA platform had become “structurally redundant”. The regulator said the platform had not been accessed by stock brokers since inception because of robust regulatory measures, technological innovations and...

Four Entities Settle Indiabulls Real Estate Fund Diversion Case With SEBI For ₹10.49 Crore

Four entities have settled proceedings initiated by the Securities and Exchange Board of India (SEBI) arising out of alleged diversion and siphoning of funds from Indiabulls Real Estate Limited (IBREL) through conduit entities. The entities collectively paid ₹10.49 crore towards settlement. SEBI's Quasi Judicial Authority N Murugan passing the settlement order, noted, "...In exercise of the powers conferred under Section 15JB read with Section 19 of the SEBI Act and in terms of Regulations...

Cognizance Of SCRA Offences Requires Complaint By Government, SEBI Or Stock Exchange: Gujarat High Court

The Gujarat High Court has quashed criminal proceedings against an accused in an alleged illegal securities trading case, holding that courts cannot take cognizance of offences under the Securities Contracts (Regulation) Act on the basis of a police report alone. “A plain reading of Section 26 of the Act suggests that no court can take cognizance of any offense punishable under the Act except on a complaint made by the Central Government, the State Government, the Securities and Exchange Board...

SEBI Settles ₹25.50 Lakh Case Against Unicorn India Ventures Over AIF Investment, Disclosure Lapses

On 4 May, the Securities and Exchange Board of India (SEBI) disposed of proceedings through a settlement order, resolving alleged violations of the SEBI (Alternative Investment Funds) Regulations, 2012 by Unicorn India Ventures Fund III, its manager, and key managerial personnel, after the parties opted for settlement under SEBI's regulatory framework. SEBI Whole Time Members Kamlesh Chandra Varshney and Amarjeet Singh approved the settlement and closed the enforcement proceedings arising from...

SEBI Issues Advisory On AI-Based Vulnerability Detection Risks, Sets Up cyber-suraksha.ai Task Force

On 5 May 2026, the Securities and Exchange Board of India (SEBI) issued an advisory on emerging advanced Artificial Intelligence (AI) tools for vulnerability detection. SEBI stated that AI-driven vulnerability detection tools heighten risks for regulated entities by enabling rapid identification and possible exploitation of vulnerabilities, while also raising concerns around data confidentiality, application integrity, and reliability of outputs. It observed that the interconnected nature of...

Delhi High Court Dismisses Stock Broker's Plea Against Order Summoning Him In ₹42,000 Crore DHFL Fraud Case

The Delhi High Court has dismissed a petition filed by stockbroker Jalaj Batra challenging an order dated April 27, 2024 of a Special Judge (PC Act) at Rouse Avenue Courts, New Delhi, summoning him as an accused in the Rs 42,000 crore DHFL loan fraud and alleged share price manipulation case. The order involves taking cognisance of offences under the IPC and Prevention of Corruption Act, including criminal conspiracy, cheating, forgery and corruption. A bench of Justice Manoj Jain held that...

SEBI Proposes Early Pay-In Benefit To Options Contracts In Commodity Derivatives, Invites Comments

Today, the Securities and Exchange Board of India (SEBI) issued a consultation paper proposing to extend the applicability of early pay-in, currently available for futures contracts, to options contracts in the commodity derivatives segment. SEBI noted that under the existing framework, market participants can deposit certified goods in accredited warehouses as early pay-in against futures contracts, which enables margin benefits, except for mark-to-market margins. It further stated that this...