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...

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...

SEBI Proposes Allowing OBPPs To Offer IFSCA-Regulated Products, Seeks Public Comments

The Securities and Exchange Board of India (SEBI) on Tuesday, 5 May, issued a consultation paper proposing to allow Online Bond Platform Providers (OBPPs) to offer products regulated by the International Financial Services Centres Authority (IFSCA), along with other changes aimed at improving ease of doing business. SEBI stated that the proposals are intended to refine the existing regulatory framework governing OBPPs, which are currently regulated under the SEBI (Issue and Listing of...

SEBI Proposes To Permit Single-Asset Securitisation By Relaxing 25% Cap For RBI-Regulated Entities

The Securities and Exchange Board of India (SEBI) has proposed to relax its rules to allow securitisation transactions where the exposure to a single obligor exceeds the existing 25% limit, in respect of RBI-regulated entities. Securitisation involves pooling financial assets and issuing securities backed by their cash flows. The proposal forms part of a consultation paper issued on Monday to amend the SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations,...

SEBI Imposes ₹40 Lakh Penalty On 4 For Unregistered Investment Advice Through Telegram Channels

The Securities and Exchange Board of India (SEBI) has imposed a total penalty of ₹40 lakh on four individuals for engaging in unregistered investment advisory activities through Telegram channels such as “Intraday Jackpot” and “Professional Day Trading Institute”. SEBI's Quasi Judicial Authority N Murugan passed the order. “The prescriptions the IA/RA Regulations are intended to safeguard the interest of investors and to curb the perpetration of unregistered entities entering the field of...

SEBI Allows Most AIFs To Launch Schemes In 30 Days Under Fast-Track Rules, Excludes Large-Value Funds

The Securities and Exchange Board of India (SEBI) on Thursday introduced a fast-track mechanism allowing Alternative Investment Funds (AIFs), except Large Value Funds, to launch schemes and circulate placement memorandums (PPMs) 30 days after filing with the regulator.The move is aimed at easing timelines for fund launches by shifting to a disclosure-based regime, while retaining regulatory oversight through post-filing review. Under the circular, AIFs (other than Large Value Funds) can proceed...

SEBI Penalises Three Individuals ₹5 Lakh Each For Non-Cooperation In Rajesh Exports Front-Running Probe

The Securities and Exchange Board of India (SEBI) has fined three individuals Rs. 5 lakh each for not cooperating with an investigation into suspected front-running in the shares of Rajesh Exports Ltd. The regulator found that they failed to share information and, in some instances, gave incorrect responses during the probe. The order, passed by Adjudicating Officer Amit Kapoor, notes that Navnit Gadoya, Chiranggi Irish Shah and Surbhi Aggarwal were given multiple chances to respond but did...

SEBI Slashes Arun Panchariya's Penalty From ₹25 Crore To ₹20 Lakh In Winsome Yarns GDR Case

The Securities and Exchange Board of India (SEBI) has reduced the penalty imposed on Arun Panchariya, a key figure linked to the GDR fraud issue of Winsome Yarns Ltd., to Rs 20 lakh. The reduction follows directions of the Securities Appellate Tribunal (SAT) to recompute the quantum of penalty in light of penalties imposed in similar cases and the absence of a conclusive money trail. The matter was presided over by SEBI's Quasi-Judicial Authority, Biju S. SEBI had originally found Panchariya...

SEBI Operationalises PaRRVA Framework For Verification Of Past Risk And Return Data

On 29 April, the Securities and Exchange Board of India (SEBI) operationalised the framework for the Past Risk and Return Verification Agency (PaRRVA), pursuant to its circular dated 4 April 2025. In its circular, SEBI has recognised Care Ratings Limited as the PaRRVA, while the National Stock Exchange has been designated as the PaRRVA Data Centre under the newly operationalised framework. Care Ratings will begin providing its services after completion of the pilot-phase with operations...

SEBI Penalises Axis Trustee ₹10 Lakh In Embassy REIT Case For Delay In Disclosing NFRA Action Against CEO

The Securities and Exchange Board of India (SEBI) on Wednesday imposed a penalty of Rs. 10 lakh on Axis Trustee Services Ltd for failing to ensure timely disclosure of a regulatory action against the CEO of the manager of Embassy Office Parks REIT and for not independently assessing his “fit and proper” status. Adjudicating Officer Jai Sebastian held that the trustee failed to discharge its statutory duty to ensure timely disclosures and to exercise independent oversight over the manager, as...

SEBI Slaps ₹1 Lakh Penalty On Asirvad Micro Finance Over NCD Issuance Violations

On 28 April, the Securities and Exchange Board of India (SEBI) imposed a penalty of Rs. 1 lakh on Asirvad Micro Finance Limited, a subsidiary of Manappuram Finance Limited, for violations relating to the issuance of Non-Convertible Debentures (NCDs). Adjudicating Officer Sudeep Mishra held that although Asirvad structured the issuance as a private placement, it amounted to a deemed public issue and therefore attracted compliance with statutory requirements. He observed: “…where the allotment...