Expanding the Net: The New Scope of “Connected Person” in Insider Trading
by Aayushi Bhargava* and Ayushi Malik**
SEBI
Read why Securities Appellate Tribunal granted relief to Naman Broadcasting in Sadhna Broadcast stock manipulation case
Naman Broadcasting amongst others was alleged to contravene the provisions of Securities and Exchange Board of India Act, 1992 by using digital platforms to mislead the investors. It was alleged that the price and volume of the scrip was manipulated through a coordinated scheme involving dissemination of misleading information and structured trades among connected entities.
SEBI revamps Penalty Review System to empower MIIs and ensure fair appeals
SEBI’s new framework for MIIs reshapes the penalty review, appeal, and waiver process by introducing independent oversight, a dual-track mechanism, and external professionals, while preserving legal recourse and mandating implementation by September 2025.
Markets Recalibrated: SEBI & BSE Reshape Surveillance Framework for Fairer Trading
SEBI and BSE has unveiled a revamped ESM framework designed to elevate India’s market surveillance architecture, enhancing transparency and investor protection.
SEBI’s Master Circular on ESG Ratings: Strengthening Governance and Transparency in India’s Financial Markets
SEBI sets new standards for ESG Ratings to boost investor confidence and transparency.
SEBI brings all Passive Breaches under one rebalancing framework
Timelines for Rebalancing of Portfolios of Mutual Fund Schemes revised to encompass all Passive Breach categories.
The Stakeholder Conundrum: Navigating the Efficacy of ESG Litigation in India
by Yash Arjariya* and Sarah Unhelkar**
When Soft Enforcement Stings: Rethinking SEBI’s Warning Letters
by Saurav Rajurkar*
SEBI tightens Margin Pledging Rules: Key changes and impact on Securities Market
SEBI overhauls Margin Pledging rules.
SEBI restrains former IndusInd MD & CEO Sumant Kathpalia and top executives for alleged Insider Trading in Bank’s shares
SEBI observed that the trades were not routine or incidental but strategically timed to avoid substantial losses which would have occurred had the information been public at the time of trading.
SEBI bans actor Arshad Warsi and others in a textbook case of ‘pump and dump’ scam orchestrated through false narratives on digital media
SEBI emphasized that the integrity of the securities market is sacrosanct and any attempt to mislead investors, however novel or tech-enabled, would be dealt with strictly under the law.
Lokpal gives clean chit to former SEBI chairperson Madhabi Puri Buch for all corruption allegations
The six-member bench headed by Justice A.M. Khanwilkar disposed of all the complaints filed against former SEBI Chairperson, Madhabi Puri Buch.
SEBI paves way for inclusive and accessible Digital KYC for persons with Disabilities following Supreme Court directives
SEBI is transforming Digital KYC processes to ensure inclusivity and accessibility for persons with disabilities to financial services.
Flummoxed by Finality: Supreme Court Reaffirms Applicability of Res Judicata to SEBI
by Namita Shetty* and Bharat Harne**
New Broker Investment Regulations notified vide Securities Contracts (Regulation) Amendment Rules, 2025
Amendment regulation clarifying brokers’ investment policies.
SEBI Extends Compliance Timeline—ODI & FPI
SEBI extends Compliance Deadline for ODI & FPI Regulations to November 2025.
Cyril Amarchand Mangaldas advises Bain Capital on its proposed investment in Manappuram Finance Limited
Cyril Amarchand Mangaldas is advising Bain Capital on its proposed investment of ~INR 4,385 crore in Manappuram Finance Limited
SEBI revises LODR Regulations introducing Corporate Governance for a Listed Entity which has listed its Non- Convertible Debt Securities
These regulations are applicable to Listed entity having non-convertible debt security of an outstanding value of Rs. 1000 crore and above.
Shardul Amarchand Mangaldas & Co. advises CDS Infra Projects Limited in sale of 100% Stake in Two Operational Road Assets to Neo Infrastructure Income Opportunities Fund
Shardul Amarchand Mangaldas & Co. advised CDS Infra Projects Limited (“CDS Infra”)