Sebi's order comes close on the heels of Central Bureau of Investigation naming Mallya, Kingfisher Airlines and nine others, in the charge sheet related to the 2015 loan default case.
Foreign portfolio investors (FPIs) are likely to get a reprieve from the Securities and Exchange Board of India (Sebi) in case of a passive or unintended breach of the thresholds that trigger additional disclosure norms. According to sources, FPIs whose single group exposure exceeds 50 per cent of their corpus will get 10 trading days to bring down their exposure below the prescribed level, without triggering the stricter disclosure norms. If total equity exposure of an overseas fund exceeds Rs 25,000 crore and it doesn't wish to provide additional disclosures, it will have three months to pare its exposure.
With an aim to recover fines from elusive offenders, capital markets regulator Sebi on Thursday introduced a reward system for up to Rs 20 lakh to informants for sharing information about the assets of defaulters. The reward may be granted in two stages -- interim and final. While the interim reward amount will not exceed two and a half per-cent of the reserve price of the asset regarding which tips was provided or Rs 5 lakh, whichever is less and the final reward amount will not exceed 10 per cent of the dues recovered or Rs 20 lakh, whichever is less.
India Inc is staring at significantly higher compliance and governance costs, following the Securities and Exchange Board of India's (Sebi's) latest tightening of disclosure norms and regulations around the filling of key positions, the materiality of information, and third-party transfers. Recently, the securities market regulator amended the Listing Obligations and Disclosure Requirements (LODR) to introduce a raft of changes that will affect how listed companies go about transparency and disclosures. The new framework will further empower public shareholders and soon move towards a 'comply or be penalised regime or comply or explain' in the case of high-value debt-listed entities.
The Securities and Exchange Board of India (Sebi) is considering a proposal to allow mutual funds (MFs) to charge a fee based on their performance, said Ananta Barua, whole-time member of the markets regulator. He said the proposal is being reviewed by a working group formed to look into cost structures. "One working group has been set up which is going to review... One of the suggestions is that if any scheme or fund is performing well above the benchmark, it (fee) can be linked to its performance.
The case relates to Sebi probe into trading by Indiabulls Securities in 2008-09.
According to analysts, 11 PSUs, including Rashtriya Chemicals and Fertilizers and State Bank of Mysore, have government holding beyond the 90 per cent mark and the government will have to bring it down.
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI, OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
U K Sinha's six-year tenure as chairman of Securities and Exchange Board of India ends later this week. Sinha held his last press conference in Mumbai on Monday, where he spoke on wide-ranging issues and his biggest regret.
Only the top 5 per cent profit makers account for 75 per cent of profits.
Vadra launched Skylight Hospitality four months after the DLF shares got listed, amid complaints of inadequate disclosure from investor associations and former business partner Kimsuk Krishna Sinha.
Plea-bargaining finally comes to India and you can now resolve your disputes with Sebi through negotiations and settlement rather than litigation.
The cases under scanner include significant loan exposure of the bank to Videocon way back in 2012 and the alleged involvement of the Kochhar family in restructuring of that loan.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
Sebi on Wednesday approved measures to strengthen the framework for Alternative Investment Funds (AIFs), including having an independent valuation of their investments and introducing a comprehensive certification requirement for key investment teams of AIF managers. To improve governance and transparency to investors with respect to transactions involving conflict of interest, the regulator also approved that there should be a mandate for obtaining approval of 75 per cent of investors by value for buying or selling of investments potentially involving conflict of interest. The proposals pertaining to valuation of investments, dematerialisation of units, certification requirement for key employees of investment manager, transactions with associates and option to sell unliquidated investments to a new scheme of AIFs were approved by the Sebi's board on Wednesday.
Why self-audit by NSE, why weren't charges probed under your supervision, ministry asks regulator.
Sebi found that the broker had committed fraudulent, manipulative and unfair activities and has also been negligent in observance and compliance of the statutory requirement in conduct of its business as a stock broker.
While Sahara maintains it has already repaid more than 93 per cent of the outstanding dues directly to the concerned bondholders and the remaining amount was just about Rs 2,500 crore (Rs 25 billion), it deposited Rs 5,120 crore (Rs 51.2 billion) to Sebi in December 2012 towards the investor refunds as per Supreme Court orders.
Sebi can also sweeten it with a stipend of Rs 5,000 each and charge the Rs 240 crore to the Sahara account
The visit to Sebi office would comprise slide shows for students regarding the capital market and Sebi's role as its regulator, as also an interactive session to answer questions from students.
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
Experts say the tighter share buyback norms will help ensure only companies with clean intentions come to the market.
The regulator has asked portfolio managers not to leverage the portfolio of clients for investment in derivatives and not indulge in speculative transactions that are not accompanied by actual delivery, except for derivatives trades. This is done with the intention of reducing volatility in the market and curbing undue risks.
.jpg)
The Union Cabinet on Wednesday had approved the proposal to amend the Sebi Act and other relevant regulations that would give greater powers to the regulator in its efforts to tackle all kinds of money-collection schemes, as also to effectively crackdown on defaulters in the stock markets.
Sebi says Sahara investors refunded over Rs 42 cr.
The television channel is in hot water for not having made a public announcement in 2009 of a 'change of control' of the company.
The proposed 'Investor Survey' would cover the entire country -- 29 states and 7 union territories -- and would have a sample size of approximately 50,000 households and 1000 market participants.
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
The Sixth Additional Chief Metropolitan Magistrate on Wednesday allowed Securities and Exchange Board of India (SEBI) to quiz Satyam Computer's former CFO Vadlamani Srinivas and ex-Price Waterhouse partners S Gopalakrishan and Talluri Srinivas.
