By: Anushka Satya THE SCOURGE OF MONEY LAUNDERING AND THE URGENCY TO COMBAT Post the interdependence of economies across the globe, with the seamless exchange of resources between sovereign borders, the menace of money laundering has become more pressing than ever. Statistics say that 2-5% of the global GDP, or US $ 800 billion – US$ 2 trillion is the estimated amount of money laundered globally in one year. To tackle this menace, the United Nations General Assembly in its Political Declaration in 1998 urged member nations to adopt legislations to mitigate money laundering. India, which is no ..read more

By: Aman Kumar Yadav Introduction Cryptocurrencies are digital representations of value that can be stored and transferred digitally. Simply put, it is a type of digital currency or a medium of exchange just like the US dollar. They function autonomously, unencumbered by traditional banking and government oversight. Countries have repeatedly attempted to implement measures to regulate Cryptocurrency or ban it altogether. This article analyzes India’s stance on Cryptocurrency and will also look as to how the Cryptocurrency is regulated in various jurisdictions. Timeline of Events Since 2012 the ..read more

By: Ashutosh Choudhary INTRODUCTION Regulation 23(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter ‘New Takeover Code’) has been introduced for the withdrawal of the takeover offer. The legislation has inserted a new sub-clause ‘(c)’, which provides that if any condition enumerated under the agreement for acquisition is not met, the agreement is rescinded, provided that the conditions must be fairly disclosed in the detailed public statement and letter of offer and the fulfilment of such conditions must be beyond the reasonable control o ..read more

By: Aastha Agarwalla The President of India gave his assent to the amendment to the Indian Stamp Act, 1899 (hereinafter ‘the Act’) which was introduced in February 2019 as a part of the Finance Act, 2019 with the objective to bring together reformative measures to the existing stamp duty regime on financial securities transactions in the market. OBJECTIVE The amendment to the Act aims to create a uniform and centralised institutional mechanism that will enable one authorised entity to collect stamp duty on securities market instruments in one place, and thus, reduce the instances of evasion of ..read more

By: Saket Agarwal INTRODUCTION The Securities and Exchange Board of India (hereinafter ‘SEBI’) is an establishment made for the regulation of the securities market, and the protection of the interests of investors in securities. To achieve these goals, SEBI was granted certain powers. However, with the passage of time, the powers of SEBI have increased manifold.  In addition to the listed entities, SEBI has the power to regulate those which are yet to be listed on the stock exchange. Due to this, SEBI, which works primarily under the Securities and Exchange Board of India Act, 1992 (herei ..read more

By: Chitresh Baheti INTRODUCTION Reuters, on 16th November 2017, reported that the quarterly results of 12 giant MNCs[1] were being circulated on WhatsApp groups even before they were declared. This information was being circulated under the title ‘HOS: Heard on Street’.[2] This prompted the Indian security regulator board, SEBI, to carry forward investigations which came to be known as the WhatsApp Leak case.[3] SEBI conducted ‘search and seizure’ at the premises of more than 30 market analysts & dealers.[4] Till date, SEBI has directed companies such as HDFC Bank[5], Bata India[6], Tata ..read more