SME Exchange

Introduction The Securities and Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations define a “SME Exchange” as a trading platform of a recognized stock exchange or a dedicated exchange permitted by SEBI to list securities issued in accordance with Chapter XA of the SEBI (ICDR) Regulations, excluding the Main Board (which is…

The 5 Most Intelligent Crimes Committed In India

Annual government reports from the National Crime Bureau reveal that over 50 lakh crimes are committed in India every year, according to the National Crime Bureau. With a population of over 130 million people and a society beset by economic and social problems, a slew of crimes are reported in the country on a daily basis. Some crimes, on the other hand, stand out for the sheer amount of intelligence and brainpower that went into them. Several crimes in India have raised eyebrows, ranging from exploiting systemic flaws to devising novel methods of evading law enforcement authorities.   A list of the five most intelligent crimes committed in India is presented to you:  Harshad Mehta’s Securities Scam of 1991 was the first of its kind.  In India, a stockbroker known as Harshad Mehta, also known as the ‘Big Bull’ on the Bombay Stock Exchange, cleverly extracted large sums of money from the banking system by taking advantage of their loopholes and investing the resulting wealth in the stock market, earning him the nickname. He engaged in massive stock manipulation, in which he not only drained capital from the banking system but also increased demand for certain stocks, which he then sold at a much higher profit, enabling him to amass millions of dollars.   Mehta was successful in manipulating share prices through this system to the point where shares of companies such as ACC, one of India’s largest cement producers, increased from Rs 200 per share to Rs 9000 per share in a matter of three months. Sucheta Dalal, a Times of India columnist who was later awarded the Padma Shri, was the person who brought the scam to light.   When this scam was exposed, the stock markets went into freefall. This scam had swindled at least Rs 40 billion from the Indian banking system, making it not only one of the most intelligent crimes committed in India but also one of the most expensive crimes committed anywhere in the world. Harshad Mehta was arrested in December 2001 and died in Thane prison as a result of a heart condition. He had a total of 28 cases filed against him at the time of his arrest.  Unknown Indian hacker (the perpetrator of the world’s largest cybercrime)  In 2008, an unknown Indian hacker was arrested and charged with the largest cybercrime in history. The man was accused of aiding a criminal gang in hacking into the identities of an estimated eight million people in a hacking raid that could have resulted in a net worth of more than £2.8 billion in illegal funds. Using an underground network operated by the Russian mafia, he was able to breach the IT defenses of the Best Western Hotel group’s online booking system in the United Kingdom and sell the information on how to get into the system.   Data exposed in the breach included a variety of private information, including home addresses and telephone numbers, as well as credit card information and employment information. The Sunday Herald newspaper in Scotland discovered the flaw and alerted the hotel’s management, who were able to close the security breach in time, but the stolen information was already being exploited by cybercriminals at the time. It has not been possible to determine the identity of the original Indian hacker, confirming the event’s status as one of the most intelligent crimes committed in India to date.  The Burglary at the Sydney Opera House  In March 1987, Mohan Singh pretended…

A look at the history of Cryptocurrency in India.

The government’s attitude toward digital assets has shifted dramatically over the last several years, from an outright prohibition in 2016 to an impending Bill for regulation. The impending Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 differs from the previous one, which was titled ‘Banning of Cryptocurrency and Regulation of Official Digital Currency Bill,…

FOREIGN CURRENCY ACCOUNT

INTRODUCTION:                               Globalization made dealing with different countries easy and efficient, and with increasing amount of business transactions foreign exchange of currencies began to expand. With banking sectors recognising the need, foreign currency accounts came into existence, foreign currency account (FCA) is an account in which a person can hold money which is in different…

Origin of Investment in India under FEMA ( Foreign Direct Investment )

ACADEMIC YEAR: 2021—22 SUBJECT: FOREIGN DIRECT INVESTMENT ACT TOPIC: ORIGIN OF INVESTMENT IN INDIA UNDER FEMA SUBMITTED TO: ADVOCATE AISHWARYA SANDEEP SUBMITTED FROM: CHAURASIA MAMTA RAMROOP PREMADEVI. CLASS: STUDENT OF S.Y.LL.B (3YEARS)                                                 TABLE OF CONTENT SR. No. CONTENT PAGE NO. 1. Declaration 3. 2. Introduction 4. 3. What is FDI under FEMA?History of Investment…

Issue of Shares by Indian Companies under Foreign Currency Convertible Bonds ( Foreign Direct Investment )

                                                oreign Currency Convertible Bonds (FCCBs) mean a bond issued by an Indian company expressed in foreign currency, and the principal and interest in respect of which is payable in foreign currency. Further, the bonds are required to be issued in accordance with the scheme viz., “Issue of Foreign Currency Convertible Bonds and Ordinary Shares…