SEBI, vide circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/28 dated February 25, 2020,put in place a framework of ‘Margin obligations to be given by way of Pledge/ Re-pledge in the Depository System’ to mitigate the risk of misappropriation or misuse of client’s securities available with the Trading Member (TM)/ Clearing Member (CM)/ Depository Participant (DP),including use of one client’s securities to meet the exposure, margin or settlement obligations of another client or of the TM / CM.
In light of the public comments and discussions with the stakeholders, SEBI has decided to adopt a framework for segregation and monitoring of collateral at client level.
The new framework consists of Reporting Mechanism by TMs and CMs, Collateral Valuation, blocking of margins, change of allocation, client margin reporting, settlement, withdrawal of collateral, default management process. The circular issued in this regard also includes illustrations.
Related party transaction u/s 40A(2) shall be treated as bona fide, unless AO finds that one of them is trying…
The word ‘transfer of property’ does not include ‘acquiring’ of property or ‘purchasing’ of property and only can be confined…
AO is not justified in questioning the cash withdrawals from bank account on the ground that the assessee had sufficient…
Return/Balance sheet to be considered as being within time if filed within timeline condoned by Hon'ble Supreme Court due to…
Satisfaction Note u/s 153C - term “immediate” cannot be extended to defeats the purpose of cost effective, efficient and expeditious…
Addition for rental income on accrual basis deleted as assessee was pursuing a civil case against the tenant In a…