Today, On 2nd December, in the Jio-Facebook Case, Supreme Court declines to interfere with SEBI’s Rs.30 lakh penalty on Reliance, holding that the findings raised no substantial question of law. The decision leaves intact SEBI’s action over delayed disclosure of the deal leak.
The Delhi High Court has issued a contempt notice to BluSmart, Gensol, and others for allegedly violating a court order regarding 10 Tata Tigor EVs. Shefasteq claims the companies obstructed efforts to locate the vehicles and failed to provide required information. Legal proceedings involving Gensol have escalated amid serious allegations from SEBI.
![[Co-Location Scam] "Preponderance of Probability Fails to Prove Collusion Between OPG, Directors, and Notices": SEBI Dismisses Charges Against NSE & Chitra Ramkrishna](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/09/SEBI-Drops-All-Charges-In-39Dark-Fibre39-Case-Against-Former-NSE-Employees-amp-MD-In-Co-Location-Scam-Due-To-Insufficient-Evidence.png?resize=447%2C367&ssl=1)
In the Co-location scam case, SEBI dismissed charges against the National Stock Exchange (NSE) and its former CEO, Chitra Ramkrishna, stating insufficient evidence of collusion. SEBI’s ruling cleared the NSE and its leadership of any wrongdoing. This decision followed a January 2023 ruling overturning SEBI’s directive for NSE to disgorge Rs. 625 crore.
Today(on 4th July), Chief Justice of India D Y Chandrachud urged SEBI and SAT to exercise caution in the face of surging equity markets, highlighting the need for additional tribunal benches to stabilize operations. He emphasized the pivotal role of regulatory bodies in maintaining market stability and stressed the urgency of addressing the increased workload and pending appeals at SAT.
