TagStock Exchanges

Should India Allow Fractional Share Investing?

[Ajith Kidambi is a V year student at the NALSAR University of Law, Hyderabad] Fractional share investing could finally be a reality in the Indian stock market. The Company Law Committee, which the Ministry of Corporate Affairs constituted in 2019, had released its third report in April 2022, making several recommendations to the government to improve the ease of doing business in India and...

Non-Fungible Tokens: An Indian Perspective

[Aiyushi Mehrotra is a 4th  Year B.A., LLB. student at Gujarat National Law University, Gandhinagar] Non-fungible tokens (“NFTs”) are digital blockchain tokens that identify ownership or particulars of unique items, whether they be digital or real in form. They are traded and programmed in the same way as cryptocurrencies like Bitcoin or Ethereum, but that is where the similarities...

Is NSE’s Co-Location Facility Abusive: A Competition Law Analysis

[Rishabh Joshi is a 5th year B.B.A., LL.B. (Hons.) student at Gujarat National Law University, Gujarat] Recently in its decision of Manoj K. Sheth v. NSE, (Case No. 35 of 2019) dated 28 June 2021, the Competition Commission of India (CCI) rejected the charges surrounding abuse of dominance against the National Stock Exchange (NSE) concerning the co-location facility. The informant had filed a...

Going for Gold: SEBI Proposes Gold Trading on Exchanges

[Arunimaa Jaiswal is a fourth-year student at Gujarat National Law University, Gandhinagar] Through the Union Budget 2021-22, the Government of India notified the Securities and Exchange Board of India (“SEBI”) as the regulator for gold exchanges in India. Upon such notification and in pursuance of the Government’s intention of establishing regulated gold exchanges in the country, SEBI released a...

Social Stock Exchange in India: Scrutinizing the Vision

[Prachi Agrawal is a 4th year B.B.A., LL.B. (Business Law Hons.) student and Stuti Bhargava a 4th year B.A., LL.B (Business Law Hons.) student, both at the National Law University, Jodhpur] “It is time to take our capital markets closer to the masses and meet various social welfare objectives related to inclusive growth and financial inclusion.”– Nirmala Sitharaman In her budget speech in...

SEBI Working Group Report on Social Stock Exchange

[Rongeet Poddar is a 5th year student at the West Bengal National University of Juridical Sciences] The Working Group Report on Social Stock Exchange constituted by the Securities and Exchange Board of India (SEBI) has evaluated the prospect of introducing a ‘Social Stock Exchange’ (SSE). As acknowledged in the Report published on 1 June 2020, the Finance Minister of India had previously called...

SEBI’s Karvy Order: Tightening the Screws on Stock Brokers

Late on Friday, 22 November 2019, the Securities and Exchange Board of India passed an order in the case involving Karvy Stock Broking Limited (KSBL). The circumstances surrounding the order are atypical. The urgency of the situation is evident in the fact that the SEBI order, passed very late on 22 November, relies upon a “preliminary” report that it received from the National Stock Exchange of...

Social Stock Exchange – A Breakthrough for the Impact Investing Sector

[Aditya Bhayal is a IV year student at NALSAR University of Law, Hyderabad] In this year’s Budget Presentation, the Finance Minister announced the introduction of the Social Stock Exchange (SSE) in the Indian capital market. Following this, the Securities and Exchange Board of India (SEBI) recently set up a panel to provide recommendations on the working and implementation of this concept. In...

Mergers or Demergers involving Listed Transferor Companies and Unlisted Transferee Companies

[Aishwarya Singh is a lawyer based in Mumbai. The views expressed in the article are personal.] This post discusses the regulatory framework relating to mergers or demergers involving a listed company and an unlisted company, wherein the whole or part of the undertaking, property or liabilities of a listed company, being the transferor company, are transferred to an unlisted company, i.e., the...

SAT Order: Stock Exchanges not to Follow SEBI’s Circulars and Directions Mechanically

[Anand Narayan is a corporate and securities lawyer currently working as an in-house counsel in Mumbai] One has lately witnessed a trend that the stock exchanges, such as NSE, BSE and NCDEX, are following the circulars and directions issued by the Securities and Exchange Board of India (SEBI) mechanically without application of mind, which has not gone down well with the market participants. Much...

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