SEBI clarified that clients under Non-Discretionary PMS can pledge securities held in their demat accounts for personal borrowing. The regulator held that such pledging does not amount to borrowing by the portfolio manager as long as the decision is entirely client-driven.
SEBI held that invocation of pledged shares may be treated similarly to sale transactions since beneficial ownership changes upon invocation. The guidance explains that contra trade restrictions may apply depending on transactions undertaken within the six-month period.
SEBI clarified that only a body corporate can act as a sponsor under MF Regulations 2026. A family trust, not being a body corporate, is ineligible.
SEBI clarifies that the broad-based fund requirement applies at the scheme level for AIFs. This ensures accurate investor composition and stricter compliance for AMCs.
The issue involved whether clients could simultaneously receive advisory and distribution services. SEBI clarified that strict segregation is mandatory, ensuring no overlap to prevent conflicts of interest.
SEBI ruled that conversion of warrants leading to acquisition beyond the 5% creeping acquisition limit triggers mandatory open offer obligations under takeover regulations.
SEBI’s informal guidance confirms that corporate governance compliance reports must reach the full Board. Delegation to committees alone does not meet statutory disclosure requirements.
SEBI clarified that pledging/revoking a pledge is a ‘trade’ under PIT Regulations. Revocation and subsequent sale of ESOS shares to repay a loan are not contra trades if bonafide.
CBDT circular on C&AG report findings. Directs AOs to verify land records, sales, and expenses to ensure correct exemption of agricultural income.
DoPPW clarifies that Enhanced Family Pension is payable for 7 years or until the deceased would have reached 67 years, whichever is less, applicable to all cases.
