Tomu Francis is a Partner in the Dispute Resolution practice group in the Mumbai office. He specialises in securities litigation and regulatory advisory across the Indian securities markets. He advises listed companies, market intermediaries, FPIs, trading entities, and other market participants on a wide range of securities law issues, including shareholder and promoter disputes, corporate governance concerns, fraudulent and unfair trade practices, insider trading, front-running, and takeover regulations.
Tomu brings deep regulatory insight, having represented SEBI as well as leading stock and commodities exchanges in several high-profile disputes and regulatory actions. His experience also includes advising and appearing in matters on behalf of listed entities, financial services firms, stockbrokers, merchant bankers, funds, FPIs, high-frequency traders, and investors before various courts, tribunals, and regulatory fora.
He regularly advises clients on investigations and enforcement proceedings initiated by SEBI and stock exchanges. Tomu is also actively engaged in market policy and education. He is part of working groups constituted by SEBI to recommend regulatory reforms, contributes expert commentary on market developments in leading financial publications, and frequently interacts with students across law universities, promoting awareness of financial regulation and its significance in India’s markets.
Dispute Resolution
Securities Litigation and Enforcement
Appeared for matters pertaining to Long Term Capital Gains Tax Fraud whereby SEBI passed ad-interim ex-parte orders against market participants for manipulating the stock market mechanism to avoid long term capital gains.
Assisted proceedings pertaining to SEBI pursuant to a list received by it from the MCA suspecting entities of being shell companies.
Assisted proceedings pertaining to orders by the stock exchanges directing various intermediaries to deposit margins and/or imposing restrictions on the trading of the shares of a company.
Assisted proceedings pertaining to orders by the stock exchanges compulsorily delisting them from the exchange due to prolonged suspension in the trading of their scrips.
Advised on amendments on its Bye-Laws and Rules.
Advised on the legality of complex speculative derivative products in India, such as binary options, spread betting contracts, forex trading and contract for difference.
Advised in rationalising/optimising its board strength in light of best corporate governance practices and changes in regulations.
Assisted in filing a complaint with a listed company and the regulator pursuant to a diminution in the value its investments.
