by admin | Mar 3, 2021 | Newsletter
On 22nd May, 2019, the Securities Appellate Tribunal directed the National Stock Exchange of India Ltd (NSE) to transfer Rs. 625 crore to the Securities and Exchange Board of India (SEBI) within two weeks. The amount is to be transferred to an escrow account as directed by the SEBI as per its interim order dated September, 2016. While hearing the appeal filed by
the exchange on 21.05.2019, the tribunal stated that the amount would be kept in an interest bearing account till the matter was disposed while giving the capital market supervisory six weeks’ time to file its reply
NSE-colocation-revenue-transfer
by admin | Mar 3, 2021 | Newsletter
On 27 May, 2019, a Public Interest Litigation (“PIL”) was filed by financial economist Abhijit Mishra in the Delhi High Court challenging the operation of PayTm Payments Bank’s Post-Paid Wallet facility. The petition primarily revolves around the alleged illegal operation of the Paytm Post Paid wallet which provides lending facilities in contravention of law which regulates such facility. The Division Bench headed by Chief Justice Rajendra Menon and Justice Brijesh Sethi issued a notice to the Reserve Bank of India (RBI) and PayTm Payments Banks Limited seeking their stand on the same.
PIL-filed-against-the-operations-of-the-Paytm-Post-Paid-Wallet
by admin | Mar 3, 2021 | Newsletter
This Appeal arises out of impugned Order dated 29.28.2018, passed by the National Company Law Tribunal, Hyderabad Bench whereby the NCLTdismissed the Company Petition filed by the Appellant (MAIF Investment India PTE Ltd.) under Section 59 of the Companies Act, 2013. Apetition had been filed under Section 59 of the Companies Act, 2013 before the NCLT, Hyderabad Bench, seeking a rectification in the Register of Members of a company. The dispute involved allegations that certain Compulsory Convertible Debentures (“CCD”) had been converted without appropriate consent of the Debenture holder.
Jurisdiction-of-NCLT-in-Section-59-Matters
by admin | Feb 19, 2020 | Newsletter
SEBI held that these entities engaged in deliberate misrepresentations, circumvention of regulatory norms and policies of NSE and manipulation of the network pathways at the co-location facilities of the NSE.
newsletter-02-03-05-2019
by admin | Feb 12, 2020 | Uncategorized
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