SEBI

Karvy stock broking case: – A fallout of the SEBI Circular

Since last one year, SEBI has brought in a number of new regulations to improve the health of the broking industry. One of the circulars was issued by SEBI on 20th June 2019, which results into fallout of many broker firms, the bigger one is the Karvy....

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Listing of Differential Voting Rights Shares- Superior Voting Rights by tech companies

SEBI Regulations prohibit issuance of shares with superior voting rights by listed companies.  The present regulatory regime dealing with issuance of DVR shares include the following: SEBI Listing Regulations, 2015:Reg 41(3) prohibits a listed company from issuance of shares which may confer on any person superior rights as to voting or...

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Dematerialisation of Securities

What is dematerialisation and its benefits: Dematerialization (Commonly known as ‘Demat’) signifies conversion of a share certificate from its present physical form to electronic form for the same number of holding. It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transf...

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Quarterly/Half Yearly/Annual Compliances under SEBI Listing Regulations 2015

The listed entity shall submit a compliance certificate to the exchange, duly signed by both that is by the compliance officer of the listed entity and the authorized representative of the share transfer agent, wherever applicable, within one month of end of each half of the financial year, certifying maintaining physical & electronic tra...

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Revisit Compliance under SEBI (LODR) Regulations, 2015 by 1st April 2020

Law being dynamic in nature can never be static. With new amendments, new compliances needs to be ensured. Keeping these in mind the following are the checklist that needs to be abided by the Listed Entities by 1st April 2020. Reg  No. Provision Views 17 (1) (A) The Board of directors of the top 1000 […]...

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Thoughts and perspectives on Mutual Fund industry of SEBI Chairman

As a capital market regulator, one of our objectives is to promote the growth of the securities market through greater investor participation. Mutual Funds are one of the most important institutions through which money collected from various investors, especially retail investors are channelized into the capital market....

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GIFT IFSC- Onshoring the Offshore

Globally, the concept of an International Finance Centre or an IFC has been prevalent for quite some time and the experience in various jurisdictions has been quite encouraging. Various IFCs have been set up worldwide, amongst which the centres located in London, New York, Singapore and Dubai are among the prominent ones. These centres ha...

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Consultation Paper on SEBI (Portfolio Managers) Regulations, 1993

The objective of the consultation paper is to seek comments / views from the public on the proposal to amend the SEBI (Portfolio Managers) Regulations, 1993 (PMS Regulations)....

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SEBI seeks comments on Report on Issues related to Proxy Advisers

SEBI regulates the activities of proxy advisors in India under SEBI (Research Analyst) Regulations, 2014. Under these regulations, such entities are required to register with SEBI and comply with the provisions pertaining to formation of internal policies and procedures, disclosures in the reports, code of conduct, maintaining record of v...

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Resignation of Statutory Auditors from Listed Companies- Proposed Disclosure Norms

There have been a significant number of instances of abrupt resignation of Statutory Auditors from listed entities in recent times. In most of the cases, the statutory auditors have suddenly resigned without completing their assignments for the year, generally citing ‘pre-occupation’ as the reason for resignation....

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SAT quashes SEBI’s ban on an international professional services firm

Price Waterhouse & Co. Bangalore LLP & Ors. Vs SEBI (SAT Mumbai) - Price Waterhouse & Co. Bangalore LLP & Ors. Vs SEBI (SAT Mumbai) SAT Held that Order of Whole Time Member (WTM) of SEBI debarring the PW firms to audit listed company on the ground of PW network or projecting it as a PW brand cannot be sustained. There is no doubt that there has been [&helli...

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SAT reduces fine for unintentional failure to include Audit Report in XBRL

SPL Industries Ltd. Vs BSE Limited (SAT Mumbai) - SPL Industries Ltd. Vs BSE Limited (SAT Mumbai) Unintentional Failure on part of the Company to include the Audit Report in the Financial Results in XBRL uploaded on BSE website, for which BSE imposed fine of Rs. 5,54,600. However SAT reduced the penalty to Rs. 2,50,000 on the grounds that there was...

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Companies should disclose material events promptly & ensure that they are available in public domain: SAT

M/s New Delhi Television Limited Vs SEBI (SAT Mumbai) - M/s New Delhi Television Limited Vs SEBI (SAT Mumbai) SAT upheld the order of SEBI penalising the Company and its Directors for non- disclosure of tax demand on the grounds that any information which have effect on the operations of the Company is price sensitive and must be disclosed immediately to...

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Mere upload of order on SEBI website not amounts to service of order: SAT

Dr. Prannoy Roy & Ors. Vs SEBI (SAT, Mumbai) - Dr. Prannoy Roy & Ors. Vs SEBI (SAT) it is essential for SEBI to supply a copy of the impugned order to the aggrieved party, namely, the appellants. An adjudication proceeding had been initiated by SEBI by issuance of the show cause notice. The appellants thus have the first right to be supplied...

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SAT quashes Appeal filed by PWC, No Extension to carry out audit

Price Waterhouse & Co. Bangalore LLP Vs. SEBI (Securities Appellate Tribunal) - Price Waterhouse & Co. Bangalore LLP Vs SEBI (Securities Appellate Tribunal) 1. By this Miscellaneous Application Applicants / Original Appellants seek extension of the period of interim relief granted by this Appellate Tribunal vide order dated 15.02.2018. By the said order Applicants /Appellan...

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Cut-off Time for Determining Minimum Threshold of Margins to be Collected from Clients

Circular No. SEBI/HO/CDMRD/DRMP/CIR/P/2019/149 - (29/11/2019) - a. For the purpose of determining minimum threshold of margins to be collected by members from their clients, cut off time shall be kept as 5:00 b. Risk Parameter File (RPF) to be generated at cut-off time shall be applied on clients’ EOD portfolio for the purpose of determining minimum threshold ...

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Norms for Debt Exchange Traded Funds (ETFs)/Index Funds

Circular No. SEBI/HO/IMD/DF3/CIR/P/2019/147 - (29/11/2019) - The following norms are prescribed for Debt ETFs/Index Funds to be adopted by all AMCs: (a) The constituents of the index shall be aggregated at issuer level. (b) The index shall have a minimum of 8 issuers. (c) No single issuer shall have more than 15% weight in the index. (d) The ratin...

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SEBI notifies Permissible Jurisdictions for issuance of Depository Receipts

Circular No. SEBI/HO/MRD2/DCAP/CIR/P/2019/146 - (28/11/2019) - Listed company shall be permitted to issue permissible securities or transfer Permissible Securities of existing holders, for the purpose of issue of DRs, only in Permissible Jurisdictions and said DRs shall be listed on any of the specified International Exchange(s) of the Permissible Jurisdiction....

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SEBI allows Clearing Corporations to invest in Overnight Funds

Circular No. SEBI/HO/MRD2/DCAP/CIR/P/2019/145 - (28/11/2019) - SEBI decided to permit the Clearing Corporations to make investments in Overnight Funds; however, the combined investments made by Clearing Corporations in Liquid Funds and Overnight Funds shall not exceed a limit of ten percent of the total investible resources. Further, the investments in Overnigh...

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Guidelines for preferential issue & institutional placement of units by a listed REIT

SEBI/HO/DDHS/DDHS/CIR/P/2019/142 - (27/11/2019) - Institutional Placement shall mean a preferential issue of units by a listed REIT only to Institutional Investors, as defined under REIT Regulations or circulars issued thereunder....

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Recent Posts in "SEBI"

Karvy stock broking case: – A fallout of the SEBI Circular

Since last one year, SEBI has brought in a number of new regulations to improve the health of the broking industry. One of the circulars was issued by SEBI on 20th June 2019, which results into fallout of many broker firms, the bigger one is the Karvy....

Read More
Posted Under: SEBI |

Listing of Differential Voting Rights Shares- Superior Voting Rights by tech companies

SEBI Regulations prohibit issuance of shares with superior voting rights by listed companies.  The present regulatory regime dealing with issuance of DVR shares include the following: SEBI Listing Regulations, 2015:Reg 41(3) prohibits a listed company from issuance of shares which may confer on any person superior rights as to voting or...

Read More
Posted Under: SEBI |

Dematerialisation of Securities

What is dematerialisation and its benefits: Dematerialization (Commonly known as ‘Demat’) signifies conversion of a share certificate from its present physical form to electronic form for the same number of holding. It offers scope for paperless trading through state-of-the-art technology, whereby share transactions and transf...

Read More
Posted Under: SEBI |

Quarterly/Half Yearly/Annual Compliances under SEBI Listing Regulations 2015

The listed entity shall submit a compliance certificate to the exchange, duly signed by both that is by the compliance officer of the listed entity and the authorized representative of the share transfer agent, wherever applicable, within one month of end of each half of the financial year, certifying maintaining physical & electronic tra...

Read More
Posted Under: SEBI |

Cut-off Time for Determining Minimum Threshold of Margins to be Collected from Clients

Circular No. SEBI/HO/CDMRD/DRMP/CIR/P/2019/149 (29/11/2019)

a. For the purpose of determining minimum threshold of margins to be collected by members from their clients, cut off time shall be kept as 5:00 b. Risk Parameter File (RPF) to be generated at cut-off time shall be applied on clients’ EOD portfolio for the purpose of determining minimum threshold of margin to be collected from clients b...

Read More

Norms for Debt Exchange Traded Funds (ETFs)/Index Funds

Circular No. SEBI/HO/IMD/DF3/CIR/P/2019/147 (29/11/2019)

The following norms are prescribed for Debt ETFs/Index Funds to be adopted by all AMCs: (a) The constituents of the index shall be aggregated at issuer level. (b) The index shall have a minimum of 8 issuers. (c) No single issuer shall have more than 15% weight in the index. (d) The rating of the constituents of the index shall...

Read More

SEBI notifies Permissible Jurisdictions for issuance of Depository Receipts

Circular No. SEBI/HO/MRD2/DCAP/CIR/P/2019/146 (28/11/2019)

Listed company shall be permitted to issue permissible securities or transfer Permissible Securities of existing holders, for the purpose of issue of DRs, only in Permissible Jurisdictions and said DRs shall be listed on any of the specified International Exchange(s) of the Permissible Jurisdiction....

Read More

SEBI allows Clearing Corporations to invest in Overnight Funds

Circular No. SEBI/HO/MRD2/DCAP/CIR/P/2019/145 (28/11/2019)

SEBI decided to permit the Clearing Corporations to make investments in Overnight Funds; however, the combined investments made by Clearing Corporations in Liquid Funds and Overnight Funds shall not exceed a limit of ten percent of the total investible resources. Further, the investments in Overnight Funds shall also be considered as 'Liq...

Read More

Guidelines for preferential issue & institutional placement of units by a listed REIT

SEBI/HO/DDHS/DDHS/CIR/P/2019/142 (27/11/2019)

Institutional Placement shall mean a preferential issue of units by a listed REIT only to Institutional Investors, as defined under REIT Regulations or circulars issued thereunder....

Read More

Guidelines for preferential issue / institutional placement of units by InvIT

Notification No. SEBI/HO/DDHS/DDHS/CI R/P/2019/143 (27/11/2019)

Guidelines for preferential issue of units and institutional placement of units by a listed Infrastructure Investment Trust (InvIT)- A listed InvIT may make a preferential issue of units or institutional placement of units under these guidelines, if it satisfies the following conditions:...

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Latest SEBI News

Get the Latest News on SEBI from Taxguru. Read all the relevant SEBI circulars, updates to SEBI Act and SEBI Regulations exclusively at Taxguru. SEBI (Securities and Exchange Board of India) was established in 1988 as a non-statutory body to regulate the Indian securities market. On April 12th, 1992, the Government of India made SEBI an autonomous body and offered statutory powers by passing the SEBI Act 1992 in the Parliament. SEBI is the regulator for the Indian securities market and has three major functions:  quasi-judicial, quasi-legislative and quasi-executive. With the increase in the number of dealings in the Indian stock markets, a lot of malpractices was seen like price rigging, the unofficial premium on a new issue, delay in shares delivery, violations with respect to rules and regulations of the stock exchange and the listing requirements. With all such malpractices in place, the customers were losing their faith and confidence in the Indian stock exchange. Hence, the Indian government decided to set up a regulatory body or an agency known as SEBI (Securities Exchange Board of India). SEBI drafts the regulations in the legislative capacity, it conducts investigations and enforces actions as per its executive function and it also passes orders and rulings as per its judicial capacity.The Indian Government has been vested SEBI with the following powers:
  • for approving the by−laws of stock exchanges.
  • requiring the stock exchange for amending their by−laws.
  • inspecting the books of accounts and calling for periodical returns from the recognized stock exchanges.
  • inspecting the books of accounts of the financial intermediaries.
  • compelling companies for list their shares on stock exchanges.
  • registration brokers.
At Taxguru, we bring you all the recent and the latest news on SEBI and SEBI regulations. Our panel of experts publishes SEBI circulars as and when there are any developments. Find out all the trending and latest SEBI news here at Taxguru. Get to know more about SEBI Act and SEBI regulations with blogs and articles published by our experts.

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