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Under new Sebi’s rule, these companies will have to ‘confirm, deny, or clarify any reported event or information in the mainstream media that is not general in nature and that indicates that rumours of an impending specific material event’ are circulating amongst the investing public within 24 hours from the reporting of the information. “The

In a recent regulatory development, the Securities and Exchange Board of India (SEBI) introduced an amendment aimed at bolstering corporate governance by enhancing the accountability of independent directors (IDs). This crucial change mandates that when an independent director resigns, they must provide a resignation letter explicitly stating the reasons for the exit, with a stipulation

The Securities and Exchange Board of India (Sebi) has proposed a significant revamp of the “trading plan” framework, which would allow insiders to trade their company shares with greater flexibility. The proposed changes include the elimination of the “black-out” period, a reduction in the cool-off period, and relatively lenient price limits. As employee stock options

Prior approval of shareholders is mandatory if the dividend is declared out of general reserves. Despite making losses in FY23, some companies have recommended paying dividends, a matter that is subject to approval from shareholders. The promoter holding in these companies ranges from 33 percent to 75 percent, which means they will be the major

In March 2023, ED initiated a probe against BBC India for FDI cap breach under the Foreign Exchange Management Act (FEMA). Article Published in ETCFO delves into the the question can ministry clarifications via circulars which override regulations? An article published by ETCFO – written by Partner – Makarand Joshi Read more at:https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/eds-probe-against-bbc-india-how-it-questions-the-validity-of-fema-over-its-own-rules/100409801

Market regulator SEBI proposes to tighten norms for Unpublished Price Sensitive Information (UPSI) after it found a large number of corporates flouting current rules. “This would be U-turn from the correction SEBI had made in 2019 and the industry may need some time to set up a framework to identify UPSI as it is an

In a bid to expedite mergers, MCA announces a 60-day time limit for approval of mergers or amalgamations. “The amendment will improve the disposal rate of fast-track mergers and in turn, facilitate ease of doing business as it prescribes a time frame of a maximum of 60 days for the Regional Director under the MCA

The Securities and Exchange Board of India (Sebi) has barred Karvy Stock Broking (KSBL) and its chairman from accessing the securities market for seven years in a final order issued by SEBI. Alongwith Chairman – Independent directors – have been similarly restrained for two years and have been asked to pay a penalty of Rs 5 lakh

Mr. Punit Goenka MD & CEO of ZEEL was alleged that he has failed to put in place adequate internal controls within the company to identify UPSI and failed to identify the said information as UPSI. Makarand Joshi, founder Partner of #MMJC Commented – “So far, it has been observed that SEBI has been initiating legal actions

The Securities and Exchange Board of India (SEBI) has approved the regulatory framework on ESG (Environmental, Social and Governance) disclosures, ratings and investing, the fineprints of the amendments are yet to be released. “The capital market regulator could either introduce ‘quantitative thresholds’ as they believe would be material or allow individual listed Indian Inc to