SEBI Proposes New Asset Class To Bridge Investment Gaps

The Securities and Exchange Board of India (SEBI) has introduced a proposal for a new asset class designed to bridge the gap between Mutual Funds (MFs) and Portfolio Management Services (PMS). Current investment options range from retail-oriented Mutual Fund schemes with low ticket sizes to Portfolio Management Services and Alternative Investment Funds (AIFs), which require...

Illegal Sand Mining: Supreme Court Seeks Affidavit Of Maharashtra, AP, TN; Warns Cost Will Be Imposed On Default

In a public interest litigation pertaining to illegal sand mining at rivers and beaches, the Supreme Court today called for counter-affidavits from certain states and warned that costs of Rs.20,000 each would be imposed on them if the affidavits are not filed within stipulated time.A bench of Justices Sanjiv Khanna and Sanjay Kumar passed the order in respect of states of Maharashtra,...

Supreme Court Raises Concerns About Fresh Law Graduates Joining Judiciary, Low AIBE Standards & Politicisation Of Bar

The Supreme Court on Tuesday called upon the Bar Council of India, Bar Councils of all states, the Supreme Court Bar Association, the Supreme Court Advocates-on-Record Association (SCAORA), and Bar Associations for all High Courts to provide suggestions for strengthening and enhancing the Bar Associations.A bench of Justice Surya Kant and Justice Dipankar Datta impleaded the...

Will Mixing Of Contraband Samples Violating NDPS Provisions Vitiate Seizure? Supreme Court To Examine

The Supreme Court has decided to examine the impact of mixing the samples drawn from contraband contained in different packages in violation of the provisions of the Narcotic Substances and Psychotropic Substances Act and the rules made thereunder.The issue arose in a petition filed by the State of Kerala against a judgment of the Kerala High Court granting bail to an accused in an NDPS Act....

ED Claims TN District Collectors Have Withheld Documents; State Disputes ED Assertion

The Directorate of Enforcement (ED) has filed a report before the Supreme Court mentioning the documents which four District Collectors in Tamil Nadu have not been provided to the ED in the alleged illegal sand mining money laundering case. However, the State of Tamil Nadu disputed the ED's claim.A bench of Justice Bela Trivedi and Justice Pankaj Mithal was dealing with ED's plea against...

Supreme Court Refuses To Entertain PIL On Stray Dog Issue, Asks Petitioner To Move HC

The Supreme Court (on July 15) dismissed the petition pertaining to the prevention of mishaps arising due to stray dogs issue. At the very outset, the bench of justices JK Maheshwari and Rajesh Bindal pointed out the recent Supreme Court order. Therein, the Court had disposed of a batch of petitions relating to the stray dog issue, stating that in view of Animal Birth Control Rules,...

Police Stations Or Places Under Police Dept Control Can't Be Designated As Places To E-Record Witness Evidence Under BNSS : MHA To States/UTs

The Union Ministry of Home Affairs has written to the State Governments stating that police stations or places under the control of the police department cannot be designated as places for the examination of witnesses via audio-video electronic means under the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS).According to Sections 265 (evidence for prosecution), 266 (evidence for defence), and...

Rajasthan Court Acquits Dargah Cleric, 5 Others Accused Of Raising 'Sar Tan Se Juda' Slogan Against Nupur Sharma

A court in Rajasthan's Ajmer District today ACQUITTED a dargah cleric (Syed Gohar Husain Chisti) and five others accused of inciting people and chanting the "Sar Tan Se Juda" slogan during a rally organised against Ex-BJP spokesperson Nupur Sharma in June 2022. The slogan was allegedly raised during a public protest (at the main gate of the Ajmer Dargah) following Sharma's alleged...

Judge Heading Commission of Inquiry Against Ex-CM KCR Resigns Following Supreme Court's Rebuke

In a significant development, Justice(Retired) L Narasimha Reddy told the Supreme Court that he was resigning as the head of the Commission of Inquiry constituted by the Telangana Government to probe into alleged irregularities in procuring power by the Government led by the previous Chief Minister K Chandrashekhar Rao. This development took place after the Supreme Court, while hearing...

Prima Facie Defamatory: Delhi Court Injuncts Sale/ Circulation Of Book On Yes Bank Co-Founder Rana Kapoor

A Delhi Court has passed an injunction order restraining the author and publishers of the book “Yes Man: The Untold Story of Rana Kapoor”, from making it available for sale or circulation otherwise. Rana Kapoor, the co-founder of Yes Bank Ltd. (plaintiff) filed an application under Order 39 Rule 1 & 2 CPC seeking a stay against the publisher (defendant no.1) and the...

SEBI Fines Monetary Solutions Rs 25 Lakh For Regulatory Breaches

The Securities and Exchange Board of India (SEBI) levied a fine of Rs 25 lakh on Monetary Solutions for various regulatory violations. Employees of Monetary Solutions During the inspection, it was observed that seven employees associated with the Monetary Solutions, who dealt with clients, did not possess the requisite qualifications and certification as mandated by SEBI....

Centre Notifies Appointment Of Justices N Kotiswar Singh & Mahadevan As Supreme Court Judges

The Union Government has notified the appointment of Justices N Kotiswar Singh and Mahadevan as the judges of the Supreme Court.It was on July 11 that the Supreme Court Collegium proposed the elevation of Justice Singh and Mahadevan. Justice Singh, hailing from Manipur, is presently the Chief Justice of the High Court of Jammu and Kashmir and Ladakh. Justice Mahadevan is presently the...