Reference: Reserve Bank Of India
Update:
Implementation of Section 51A of UAPA, 1967
RBI has prescribed that Regulated Entities (REs) shall ensure that in terms of Section 51A of the Unlawful Activities (Prevention) (UAPA) Act, 1967, they do not have any account in the name of individuals / entities appearing in the lists of individuals and entities, suspected of having terrorist links, which are approved by and periodically circulated by the United Nations Security Council (UNSC).
Implication:
REs are advised to ensure meticulous compliance with the aforementioned instruction pertaining to UAPA and ensure that they do not have any account in the name of individuals/entities appearing in the list.
Update:
Extension of Direction issues to Mupasa Urban Co-operative Bank of Goa Ltd., Goa
RBI had issued directions to Mupasa Urban Co-Operative Bank of Goa Ltd., Goa from the close of business on February 18. The validity of the directions was extended from time to time & the last being upto November 15, 2019. Reserve Bank of India has now further extended the directions for a period of two months from from February 19, 2020 to April 18, 2020.
Implication:
The said bank will have to follow the directions issued by the RBI for further period of two months i.e., till 18.04.2020.
Reference: Securities and Exchange Board of India
Update:
Monetary Penalty on Radison Properties Private Limited & 8 others
Radison Properties Private Limited & 8 others (Noticees) had traded with connected entities and had significant contribution towards positive LTP and thereby manipulated the price of the scrip by contributing to the price rise and indulged in an act which created false or misleading appearance of trading in the scrip of the company Turbotech Engineering Limited, thereby violated Regulation 3(a),(b),(c),(d) and Regulation 4(1), 4(2)(a) and (e) of SEBI (PFUTP) Regulations, 2003.
Hence, SEBI has imposed a monetary penalty of total of Rs. 59,00,000/- on all the 9 noticees.
Implication:
Noticees shall remit / pay the said amount of penalties, as mentioned in the order, within 45 days of receipt of this order.
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