Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
SEBI amends the Master Circular on handling unpaid client securities by trading members. For non-MTF trades, unpaid securities must be directly credited to the client's demat account and auto-pledged to a CUSPA account, with client communication on the funds obligation and TM's sale right. TMs must maintain a client-facing policy, cap the payment period at five trading days, avoid granting exposure on these securities, and release excess pledge daily. If payment is not made, the TM must invoke and liquidate the pledge with notice; if neither invoked nor released within five trading days, the pledge auto-releases on the sixth trading day. Further pledging to banks/NBFCs is prohibited, and limited extension is allowed only in specified exceptional circumstances.
SEBI amends the Master Circular on handling unpaid client securities by trading members. For non-MTF trades, unpaid securities must be directly credited to the client's demat account and auto-pledged to a CUSPA account, with client communication on the funds obligation and TM's sale right. TMs must maintain a client-facing policy, cap the payment period at five trading days, avoid granting exposure on these securities, and release excess pledge daily. If payment is not made, the TM must invoke and liquidate the pledge with notice; if neither invoked nor released within five trading days, the pledge auto-releases on the sixth trading day. Further pledging to banks/NBFCs is prohibited, and limited extension is allowed only in specified exceptional circumstances.
Note: It is a system-generated summary and is for quick reference only.
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