Companies Act - Winding up proceedings pending before High Courts, which are at nascent stage and have not progressed to advanced stage, can be transferred to NCLT : HC (See 'Legal Desk') PMLA - Considering involvement of applicant in selling fake Remdesivir injection at higher price, applicant is not entitled for anticipatory bail : HC (See 'Legal Desk') Arbitration Act - Any amicable settlement not incompatible with arbitration agreement is encouraged by Arbitral Tribunal : HC (See 'Legal Desk') M.P. Nagar Tatha Gram Nivesh Adhiniyam, 1973 - Order passed by respondents is devoid of merit as land of petitioner is left open for purpose of any future road expansion : HC (See 'Legal Desk') Arbitration Act - Since appellant has failed to establish loss suffered, Arbitral Tribunal rightly rejected appellant's claim in this regard : HC (See 'Legal Desk') PMLA - Arrest order and consequent remand order are not illegal : HC (See 'Legal Desk') Keel-laying ceremony performed at Goa Shipyard (See 'Corp Brief') Companies Act - Winding up proceedings pending before High Courts, which are at nascent stage and have not progressed to advanced stage, can be transferred to NCLT : HC (See 'Legal Desk') SEBI Act - Extension of time can be allowed to SEBI to complete investigation : SAT (See 'Legal Desk') Arbitration Act - Respondent no.3 is not liable for repayment obligations of financial facilities extended by appellant to respondent no 1 company : HC (See 'Legal Desk') Mineral production grows by 8 percent in February (See 'Corp Brief') SARFAESI Act - Court refrains to adjudicate matter on merits when matter is already pending in DRAT : HC (See 'Legal Desk') Coal production in April up by 7.4% (See 'Corp Brief') SEBI Act - Appellants have made case for stay as rigours of directions of SEBI order would adversely affect business of Appellant as well as their clients : SAT (See 'Legal Desk') Trade Mark Act - Marks 'BETSONE' and 'BETASON' are deceptively similar to registered trademark 'BETNESOL' and visually, phonetically and structurally alike, with minimal alterations : HC (See 'Legal Desk') Voting by tribal communities blossoms as ECI's outreach to them bears fruit (See 'Corp Brief') SARFAESI Act - No fault can be found with respondent financial institution invoking Section 14 of SARFAESI Act by approaching District Magistrate, Rewa : HC (See 'Legal Desk') Ministry of Parliamentary Affairs observes Swachhata Pakhwada (See 'Corp Brief')

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SEBI addresses cyber security & technology related issues

Published: Jul 29, 2017

By TIOLCORPLAWS News Service

NEW DELHI, JULY 29, 2017: The market regulator Securities and Exchange Board of India (SEBI) is mulling a greater push to put in place strong safeguards on instances of technology related disruptions, cyber threats and attacks among Market Infrastructure Institutions (MIIs).

Looking forward to the instances, SEBI held a meeting with Stock Exchanges yesterday to clear corporations and depositories (MIIs) operating in the domestic market and GIFT IFSC in order to assess their preparedness on areas related to Cyber Security, Technology and Systems up gradations as well as Business Continuity Plans.

In light of recent technical glitch, National Stock Exchange (NSE) also confirmed that based on internal assessment, processes are being strengthened to further reduce the response time for recovery and also adoption of automated processes.

During the meeting, MIIs confirmed that the comprehensive framework for cyber security and system audit prescribed by SEBI is modelled on international best practices and are being followed.

MIIs were advised to have a collaborative approach in dealing with technological challenges including cyber threats. SEBI shall also undertake a comprehensive review of the technology and systems deployed at MIIs through its Technical Advisory Committee.

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