Compliance News - Latest Updates & Headlines
Maharashtra govt issues notice to Ola Electric over missing trade certificates
Pune, April 4: The Maharashtra government has issued a notice to Ola Electric Mobility Limited, asking the company to explain why some of its stores in the state are operating without valid trade certificates.
Jharkhand govt issues notices to 78 private schools in East Singhbhum over fee hikes
Ranchi, April 2: The Jharkhand government has taken a firm stand against arbitrary practices by private schools, with School Education Department Minister Ramdas Soren directing action against complaints related to fee hikes, the collection of money under the guise of re-admission, and forcing parents to buy books exclusively from designated shops.
SEBI extends timeline for mutual funds, portfolio managers to submit data
Mumbai, March 28: To improve the ease of doing business, the Securities and Exchange Board of India (SEBI) on Friday announced that it has extended the timelines for mutual funds and portfolio managers to submit their offsite inspection data to the market regulator.
RBI slaps Rs 75 lakh fine on HDFC Bank for breach of norms
Mumbai, March 26: The Reserve Bank of India (RBI) has imposed a penalty of Rs 75 lakh on HDFC Bank, the country’s largest private sector lender, for not complying with directions in the RBI’s Know Your Customer (KYC) master direction, according to an official statement issued on Wednesday.
Govt mops up extra Rs 9,118 crore as 9 million taxpayers file updated ITRs
New Delhi, March 25: Over nine million updated Income Tax Returns have been filed over the last four years, which helped the government raise an additional revenue of Rs 9,118 crore, reflecting the success of the voluntary compliance scheme introduced by the Government, Parliament was informed.
GST officials step up drive to register more traders under tax regime
New Delhi, March 23: As part of the Union Finance Ministry’s outreach to increase the country’s tax base, the field formations of the Central Goods and Services Tax (CGST) Commissionerate have launched awareness campaigns to increase registration and compliance under the GST regime.
SEBI issues warning to DAM Capital over operational deficiencies
New Delhi, March 21: Recently-listed DAM Capital Advisors on Friday said the Securities and Exchange Board of India (SEBI) has issued an administrative warning to it over certain operational deficiencies in its institutional broking business.
Full compliance with the law...: Rana Daggubati's team amid betting app allegations
New Delhi, March 20: Following allegations that Rana Daggubati had promoted illegal betting apps, the actor's team issued a clarification on Thursday, saying that his endorsement is in "full compliance with the law."
MCD to take strict action against non-compliant bulk waste generators
New Delhi, March 19: The Municipal Corporation of Delhi (MCD) is taking a tough stance against Bulk Waste Generators (BWGs) that have failed to register themselves on the MCD 311 App.
Coal India requests BSE, NSE to waive penalty
New Delhi, March 18: National mining giant Coal India Ltd (CIL) has requested the BSE and the NSE for a waiver of the penalty imposed on the company due to non-compliance with the SEBI norm on the appointment of the requisite number of Independent Directors, including one woman, on its Board.
Honda launches updated Shine 100 Motorcycle with OBD-2B compliance
Gurugram, March 17: Honda Motorcycle & Scooter India (HMSI) has launched the updated OBD2B-compliant Shine 100, bringing enhanced styling and improved environmental efficiency to its popular commuter motorcycle.
Amazon India says it removes non-compliant products after BIS searches
New Delhi, March 16: Faced with the Bureau of Indian Standards' action over the distribution of non-compliant products, Amazon on Sunday said it takes action to maintain a safe selection for its customers, including removing non-compliant products.
Action against 29 business units in Gujarat's Mehsana over violations
Gandhinagar, March 10: The Gujarat government has taken action against 29 business units in Mehsana district for failing to register under the Legal Metrology Department as per the Packaged Commodities Rules, 2011.
SEBI issues warning to Nestle India for insider trading violation
Mumbai, March 7: The Securities and Exchange Board of India (SEBI) has issued an administrative warning to FMCG major Nestle India for violating insider trading regulations, the company informed exchanges on Friday.
CBDT's trust first approach yields significant result, 30,161 taxpayers declare foreign assets worth more than Rs 29,000 crore
By Shailesh Yadav, New Delhi, 6 March: The Central Board of Direct Taxes (CBDT) "nudging campaign" has yielded significant results with 30,161 taxpayers declaring foreign assets worth over Rs 29,000 crore, government sources told ANI.
5 officials settle case with SEBI over regulatory violations, pay Rs 95.55 lakh
Mumbai, March 6: Five current and former officials of Add-Shop E-Retail Limited (ASERL) and White Organic Agro Limited (WOAL) on Thursday settled a case with the Securities and Exchange Board of India (SEBI) regarding alleged violations of regulatory norms.
Paytm to resolve FEMA allegations linked to Little Internet & Nearbuy; transactions largely before acquisition
Mumbai, March 1: Paytm, a major player in the digital payments and financial services ecosystem, has said it will seek resolution of alleged FEMA contraventions related to two acquired subsidiaries -- Little Internet Private Limited (LIPL) and Nearbuy India Private Limited (NIPL). The company in an exchange filing clarified that certain alleged contraventions are attributable to these subsidiaries for transactions during a period before they became part of Paytm.The allegations stem from a show cause notice (SCN) received by Paytm from the Directorate of Enforcement (ED) on February 28, 2025, related to alleged violations under the Foreign Exchange Management Act, 1999 (FEMA) for transactions between 2015 and 2019, the filing added. Paytm stated that it is seeking legal advice and evaluating appropriate remedies through available regulatory processes.
Will resolve FEMA allegations linked to Little Internet and Nearbuy subsidiaries: Paytm
New Delhi, March 1: Digital payments and financial services major Paytm on Saturday said it will seek resolution of alleged FEMA contraventions related to two acquired subsidiaries — Little Internet Private Limited (LIPL) and Nearbuy India Private Limited (NIPL).
SEBI imposes Rs 5.05 crore fine on ICCL for cyber security lapses
Mumbai, Feb 25: The Securities and Exchange Board of India (SEBI) on Tuesday imposed a penalty of Rs 5.05 crore on the Indian Clearing Corporation (ICCL), a subsidiary of the Bombay Stock Exchange (BSE), for failing to comply with cyber security and system audit-related rules.
Cleantech startup Recykal's losses surge 31 pc, revenue drops over 4 pc
Mumbai, Feb 25: Recykal, a B2B waste management marketplace run by its Founder and CEO Abhay Deshpande, has reported a decline in revenue and a significant rise in losses in the financial year 2024 (FY24).
100 pc FDI to help Indian insurance sector reach $222 billion by 2026
New Delhi, Feb 19: The Indian insurance sector has witnessed impressive growth over the last two decades and the government's allowance of 100 per cent foreign direct investment (FDI) in the sector would further accelerate growth, attracting significant foreign capital and boosting innovation, according to a new report.
India's insurance market poised to reach $222 bn by 2026, growing at 17% CAGR: Report
New Delhi, February 18: India's insurance sector has witnessed significant growth and development over the past few years with the domestic insurance market grown at a CAGR of 17 per cent over the last 2 decades and is expected to reach a size of USD 222 billion by 2026, according to Teamlease Regtech report.
South Korea: DeepSeek removed from app stores after failure on compliance to data protection rules
Seoul, February 18: South Korea's Personal Information Commission said that DeepSeek has accepted the proposal to suspend downloads of the AI Chatbot after it acknowledged that DeepSeek had failed to comply with the personal data protection rules, Al Jazeera reported.
Punjab adds 46,338 GST taxpayers: Finance Minister Cheema
Chandigarh, Feb 18: Punjab Finance Minister Harpal Singh Cheema on Tuesday said the Excise and Taxation Department has conducted targeted GST registration drives to broaden the tax base, resulting in the addition of 46,338 taxpayers in 2023-24 and approximately 33,000 new taxpayers up to December 2024.
Paytm Money pays Rs 45.5 lakh fine to SEBI over regulatory lapses
Mumbai, Feb 13: The Securities and Exchange Board of India (SEBI) on Thursday passed a settlement order against Paytm Money after the company paid Rs 45.5 lakh to resolve allegations of regulatory violations.
Timeline for Small Pharma Manufacturers' compliance with revised schedule 'M' extended
New Delhi, February 13: The Ministry of Health & Family Welfare has conditionally extended the due date for implementation of revised Schedule M (Good Manufacturing Practices provision) in respect of small and medium manufacturers having turnover of Rs. 250 crores or less, up to December 31, as stated in press release.
RBI lifts restrictions on Kotak Mahindra Bank from issuing credit cards, adding customers online
New Delhi, February 12: The Reserve Bank has lifted all restrictions it placed on Kotak Mahindra Bank. On April 24 last year, the RBI imposed certain business restrictions on the private lender.
Union Budget is non-inflationary, says Finance Secretary Tuhin Pandey
New Delhi, February 6: Finance Secretary Tuhin Kanta Pandey has emphasized the government's commitment to maintaining fiscal discipline while fostering economic growth, stating that the Union Budget 2024-25 is "absolutely non-inflationary".
FTA corporate tax awareness initiatives reach over 15,700 participants in 2024
Abu Dhabi, February 2: The Federal Tax Authority (FTA) has announced that its corporate tax awareness initiatives have witnessed significant growth in 2024, with 15,713 participants benefiting from its awareness events.
European Commission steps up probe into X over content moderation
Brussels, January 17: The European Commission said on Friday it was stepping up its investigation into whether Elon Musk's social media network X breached EU rules on content moderation with requests for information and an order for it to retain relevant documents.