SEBI Amendment

SEBI (Stock Brokers) (Amendment) Regulations, 2022 (Feb 23, 2022)

SEBI vide its notification dated February 23, 2022, has notified the SEBI (Stock Brokers) (Amendment) Regulations, 2022, which shall come into force on the date of their publication in the Official Gazette. Vide this amendment, a new clause “professional clearing the member” has been inserted in regulation 2(1)(ca) which means a member having clearing and settlement rights in any recognized clearing corporation, but not having trading rights in any recognized stock exchange.


Central Board of Indirect Taxes and Customs (CBIC)

Coaching centres must pay 18% GST on composite supply (Feb 24, 2022)

Coaching Institutes are liable to pay 18% Goods and Services Tax (GST) on their composite supply, or bundled services and supplies to students, the CBIC has said.


Supreme Court

SC directs Amazon, Future to NCLAT for speedy disposal of CCI case (Feb 24, 2022)

The Supreme Court (SC) has directed Amazon and Future Group to approach National Company Law Appellate Tribunal (NCLAT) for speedy disposal of the US ecommerce firm's case challenging Competition Commission of India’s (CCI's) order which cancelled its 2019 deal with Future Coupons. The SC has listed the case to be heard next on March 09, 2022. The NCLAT on February 25, 2022 will hear Amazon’s plea seeking an interim stay on the order passed by the CCI, which suspended the more than two-year-old approval of its deal 
with Future Coupons (FCPL).


Rs. 18,000 crore returned to banks from Mallya, Nirav Modi, Choksi, SC told (Feb 24, 2022)

The Centre on Wednesday informed the Supreme Court that banks got back Rs. 18,000 crore from absconding businessmen Vijay Mallya, Nirav Modi and Mehul Choksi after proceedings were initiated under the Prevention of Money Laundering Act (PMLA), 2002.


Business News

NSE Scam - Financials of 3 firms at the centre of storm reveal divergent fortunes (Feb 24, 2022)

Three central entities in the colocation scam at the National Stock Exchange (NSE) that has shaken the foundation of the Indian capital market recently have been on different trajectories since it all unraveled for each of them over the past few years. The Securities and Exchange Board of India’s (SEBI) investigations into misuse of the colocation facility of the NSE between 2010 and 2015 and other Corporate Governance lapses at the stock exchange around the same period unveiled Infotech Financials, Omnesys Technologies and OPG Securities as three companies who had misused their connections to the stock exchange to make unlawful financial gains.


Market Today ( 24.02.2022 )

BSE Sensex               54529.91 (-2702.15)
Nifty 50                      16247.95 (-815.30) 

MyLawman is now on Telegram (t.me/mylawman) Follow us for regular legal updates. Follow us on Google News, Instagram, LinkedIn, Facebook & Twitter or join our Whatsapp group .You can also subscribe for our Newsletter for Email Updates.