C B Bhave, chairman and managing director of National Securities Depository Ltd (NSDL), is believed to be leading the race for the sixth chairman of the Securities and Exchange Board of India (Sebi).
Sebi's chief finds himself helpless as the stock market regulator goes after his former organisation, but doesn't lose his essential optimism and can-do spirit.
Bhave, a former civil servent, had headed the country's leading depository, National Securities Depository Limited, and was one of the first senior executive directors to come on Sebi's board.
C S Bhave has to work on the homework of his predecessor to speed up the processes in the market. He also has to contend with the bitter legal battle between Sebi and his organisation NSDL.
Earlier this month, the CBI registered a Preliminary Enquiry against former Sebi Chairman C B Bhave and ex-member K M Abraham, as also against Jignesh Shah-founded FTIL and MCX, among others.
The rot is is not limited to Chitra Ramkrishna and the yogi, observed Debashis Basu.
'The India which was all about glamour and razzmatazz through which he could earn the trust of people of the other India, which was Bharat.'
Securities Exchange Board of India chairman C B Bhave, and Insurance Regulatory Authority of India chief J Harinarayan had separate meetings with finance secretary Ashok Chawla on Monday over the ongoing tussle between the two regulators over equity-linked insurance schemes.
Securities & Exchange Board of India (Sebi) Chairman C B Bhave has for the first time publicly backed the Bimal Jalan committee report on the working of capital market infrastructure institutions (MIIs). The report was placed in the public domain on November 24 and received scathing criticism from industry players.
Securities and Exchange Board of India (Sebi) chairman C B Bhave on Tuesday criticised market intermediaries that devise innovative products, saying they were nothing but ways to conceal high leverage.
The Securities & Exchange Board of India (Sebi) pulled up investment bankers for holding the interests of promoters above those of investors. "If you look at maximising the price for promoters, then obviously you are not looking after the interests of investors," said Sebi Chairman C B Bhave.
The latest request has been made by Sebi chairman U K Sinha after his predecessor C B Bhave failed at least twice in his attempts to secure an authorisation for Sebi to tap phone for its surveillance and investigative actions.
Asba, or applications supported by blocked amount, has been made mandatory for qualified institutional buyers and high net-worth investors when applying for public or rights issues.
The Chairman of Securities and Exchange Board of India (SEBI) C B Bhave on Friday alerted investors about the risky capital market.
Market regulator, Securities and Exchange Board of India, has directed foreign institutional investors to disclose more information about their investment structure in India.
After raising Rs 1,600 crore through an initial public offer in August, the Hyderabad-based company on October 4 terminated the services of Gurumani four years ahead of the expiry of contract and named M R Rao as his successor. Gurumani had a five-year contract starting from April 1, 2009.
Questions market regulator's showcause to insurers on conceptual, legal, structural grounds.
Investment bankers have dismissed the capital market regulator Sebi's concerns over near-zero fee for managing public sector issues.
Stock Exchagnes in the country will be launching Options in Currency Derivatives very soon, Securities and Exchange Board of India Chairman, C B Bhave said on Tuesday.
Sinha replaces former Sebi chairman C B Bhave who served as the head of the Asia-Pacific regional committee of IOSCO from June 2009 till February this year.
In March, Sebi had decided to allow physical delivery in the equity derivatives segment to bring down speculation in the stock markets and had said it will hold talks with the stock exchanges and work on the system.
Chandrasekhar Bhaskar Bhave has always tried to avoid controversy, but that's something that has followed him like a shadow in the last three years of his professional career.
This would help investors to get a fair understanding of the companies, Sebi chairman, C B Bhave said while launching independent equity research by Crisil in Mumbai on Tuesday.
SEBI chairman C B Bhave on Friday said the market watchdog is planning to introduce more currency derivatives products, beginning with options, to give a wider choice to investors.
Asked if PSUs like NHPC and Oil India would get extension if they are unable to come out with the public issue within the stipulated time, he said Sebi's nod has one-year validity and the same rules would apply to them. As per the clearances given by Sebi for the draft shareholding prospectus, the two PSUs have time till September to launch their public issues and in case it is delayed beyond this point, they will have to start the process afresh.
In a significant relaxations on Wednesday, the Securities and Exchange Board of India changed pricing rules for qualified institutional placements in view of rising market volatility, and reduced the timeline of rights issues. But the market regulator did not change, as widely expected, the guidelines for participatory notes, derivative instruments, through which many foreign investors trade on the Indian bourses.
The notices were issued to Bhave on September 14, 2010 and January 24, 2011, when he was at the helm of Sebi.
Capital market watchdog Sebi on Friday said foreign institutional investors have to, by October one, end the practice of investing money collected from a single or few investors in stocks, as a guard against manipulation.
A high level search panel, headed by Cabinet Secretary K M Chandrasekhar, has been constituted by the government for the purpose, though it is said that Bhave himself could apply for the fresh term after his three-year stint ends in February 2011.
Amid reports that it may not want market regulator SEBI Chairman C B Bhave to continue beyond February next, government has kicked off a search process for the next incumbent.
Sebi's remarks assume importance as the benchmark equity index, Sensex, has surged by over 75 per cent this fiscal to 16,998.78 points.
C B Bhave, the outgoing chief of market regulator Sebi, on Monday said it was the institution that was supreme and not the person heading it.
Further, the market regulator has not got any request from the Satyam board asking for an extension to publish the financial results. However, Sebi will consider the request if they receive it, clarified Sebi Chairman C B Bhave who was briefing mediapersons after the Sebi board meeting.
A 1976 batch IAS officer of the Bihar cadre, Sinha replaces C B Bhave who retires on February 17, 2011.
On January 5, BSE chief executive officer, Madhu Kannan, had said that the country's premier bourse would announce the launch of its SME Exchange within a fortnight.
The Securities and Exchange Board of India (Sebi) has decided against filing a joint application before a court to resolve its dispute with the Insurance Regulatory and Development Authority over unit-linked insurance plans.
Sinha will take over on February 17 next year when incumbent C B Bhave's term ends
There are some difficulties in bringing changes in buyback norms and we are having a relook at the regulations, says C B Bhave.
Last week, a Sebi-RBI committee had recommended introduction of currency futures markets, initially for dollar-rupee contract, to enable investors manage volatility in the currency market. The committee had suggested that the minimum size of the currency futures contract at the introduction would be $1,000.
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