Saloni Rani I. Introduction Digital Gold allows an investor to purchase and sell gold online without any physical visits. It has gained prominence in a very short period because it does not create any blanket ban on the quantity of gold to be purchased and most importantly, it saves time and efforts of investors. The […]
Category: Securities
Abhishek Iyer Introduction Back in 2017, several media reports emerged about the circulation of Unpublished Price Sensitive Information [Hereinafter “UPSI”] of about 12 listed companies in various private WhatsApp group chats. On 29th May, 2020, Securities and Exchange Board of India [Hereinafter “SEBI”] through its Adjudication Order[1] imposed a penalty of Rs. 45 lakh and […]
By Anurag Shah Introduction The Securities and Exchange Board of India on June 1st, 2020 released the working paper for the introduction of a ‘Social Stock Exchange’ (Hereinafter referred to as SSE).[1] As the working paper accurately states, this idea was introduced by our Finance Minister and has been under consideration since the last financial […]
By Palash Moolchandani Introduction The infamous fallout between the promoters of Indigo Airlines in 2019 brought to light a number of lapses in corporate governance within the organization.[1] The uncovering of these problematic circumstances started the dialogue on related party transactions and regulatory framework in India, which went on to become the heart of the […]
By Laghavi Pahwa The Reserve Bank of India [“RBI”] in April 2018 issued a Circular[1] banning entities including banks from dealing with individuals or companies that trade in cryptocurrencies which eventually resulted in the virtual currency market in India coming to a standstill. However, it did not per se ban holding or trading in cryptocurrency […]
By Shreya Shrivastava The COVID-19 pandemic has had a profound economic impact across the globe. The entire industrial sector has come to a halt and unemployment claims are soaring high with an all-time low demand, courtesy of government-mandated restrictions. It is quite obvious that this resulting market will likely bring a rise in instances of […]
By Dhruti Lunker and Isiri SD Introduction Acts of insider trading have been plaguing the securities market, thereby undermining its integrity and presenting an unfair and disadvantaged trading platform for the investors. SEBI under Sec. 12A of the Securities and Exchange Board of India Act read with Securities and Exchange Board of India (Prohibition of […]
By Kritika Dobhal On November 29, 2019, the Reserve Bank of India [“RBI”] initiated Corporate Insolvency Resolution Process [“CIRP”] against Dewan Housing Finance Limited [“DHFL”], making it the first Non-Banking Financial Companies [“NBFC”] to be brought within the ambit of Insolvency and Bankruptcy Code, 2016 [“IBC”]. This was made possible due to the Insolvency and […]
By S Sivakumar Introduction The article presents an analysis of how promoters of listed entities use ‘Rights Issue’ to circumvent the regulatory mechanisms under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulation, 2011(herein after referred to as the SAST Regulations).[1] Rights Issue increases the shareholding of the promoters without attracting the mandatory open offer […]
By Aastha Agarwalla To revive the declining access of foreign funding for Indian companies, the Securities and Exchange Board of India [“SEBI”] has introduced a new framework for the issuance of Depository Receipts [“DR’] via its circular dated October 10, 2019 effective immediately, [“DR Framework“]. [1] The DR Framework is seen as a welcome step […]
NUALS Law Journal 