Privatisation-bound Bharat Petroleum Corporation (BPCL) may sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies, sources said. BPCL holds 12.5 per cent of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. As per the legal position evaluated by Department of Investment and Public Asset Management (DIPAM) - the department running the process for sale of government's entire 52.98 per cent stake in BPCL - the acquirer of BPCL will have to make an open offer to the minority shareholders of Petronet and IGL for acquisition of 26 per cent shares, three sources with knowledge of the matter said.
Abu Dhabi is no longer exclusive hub for Jet, Etihad won't recommend candidates for Jet management.
Supreme Court has issued notice over chit fund.
Companies are looking to combine risk management with strategy.
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
After unfavourable response to the safety net, Sebi considers instruments with an option of conversion into equity.
Based on a petition filed by two individual investors, the court on April 25, issued interim 'status quo' orders on the merger process.
The group is selling property to raise a particular sum for the release of its chief Subrata Roy, in Tihar jail since March 4.
The regulator has extended the deadline by 45 days till June 30 for submitting half-yearly financial results for NCDs, NCRPS and CPs, while it has given a time period of another 30 days till June 30, for filing annual earnings.
While Airtel has hiked the limit to 100 per cent in principle, the company needs to address some issues on overseas investment limits in subsidiaries, before the changes come into effect. Until then, the cap on foreign ownership will remain at 49 per cent under the automatic route.
'She violated NSE procedures and rules, corporate governance norms; Chitra acted maybe within her capacity as MD and CEO, but not in the right spirit.'
Sahara has asked its employees and associates to reach out to 12 million people and conduct a survey.
The high-profile saga -- which on Friday saw the arrest of flamboyant Sahara group chief Subrata Roy, who calls himself 'Managing Worker' of his business empire -- has seen many dramatic events along the way.
The transactions between entities of Sahara Group show loopholes in regulation that can be exploited to fool investors and launder money.
The Abu Dhabi-based airline is busy raising its brand recall, to catch up with Emirates.
To provide a 'data lake' solution, the markets regulator had issued a notice in May, inviting expression of interest (EoI) from interested parties. The selected company will be responsible for designing, implementing and supporting a big data solution with analytical capabilities.
Sebi proposes to relax ownership rules to allow more entrants in the exchange space, which is seeing a disruption globally with the emergence of new technologies such as block chain.
US-based Schall Law Firm has said it will file a class action lawsuit against Infosys Ltd to recover losses suffered by investors in the wake of allegations of "unethical practices" at the Indian IT major. In October, Infosys had informed the stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management.
Forex dealers said besides heavy selling of the American currency by banks and exporters, a higher opening in the domestic stock market, supported the rupee.
Sebi reforms to foreign investment were overdue, these changes are likely to have positive effects in the long run.
Sebi's action on Sahara is showing results, but problems remain.
In the high-profile case involving refund of over Rs 24,000 crore (Rs 240 billion) and additional interest of 15 per cent per annum, the Supreme Court had asked Saharas in August 2012 to submit all documents and refund money to Sebi for further repayments to genuine investors after verifying the documents.
That's the amount payable by the Sahara group firms, according to Sebi's latest statement
Abraham, a 1982 Kerala cadre IAS officer, investigated Sahara during his tenure as whole-time member at Sebi.
Sebi wanted Jet to convince it that the deal did not amount to joint control alongside promoter Naresh Goyal.
Ajit Balakrishnan offers a thinking man's guide to the state of ecom in a nation of shopkeepers.
P-note is, however, now not a preferred route for investing in India as Sebi has made registration easier and also desirable for FPIs.
Feels earlier rules were not in interest of minority shareholders.
Markets regulator approves proposal to transfer promoter holding in excess of 75% to irrevocable independent trust.
SBI is expected to mop up almost $202 million via the share sale.
Holding that it was playing 'hide and seek' and cannot be trusted any more, the apex court on Monday directed the Sahara Group to hand over title deeds of its properties worth Rs 20,000 crore to Securities and Exchange Board of India warning that failure to comply would mean Subrata Roy cannot leave India.
At least 10 companies are currently being probed for possible violation of CIS regulations of Sebi, the official said, while adding that role of Sen and other top executives associated with these entities was also being investigated.
The stock market regulator's move to label fund schemes of different risk profiles with discerning colours could be simple but powerful communication. But how much would risk differentiation help?
A probe into the fraud had revealed that the main accused, Shiv Raj Puri, then a Citibank relationship manager at its Gurgaon Branch, was offering to its clients fabricated investment schemes with guaranteed high returns and received signatures on blank fund transfer forms.
The government on Thursday gave more powers to market regulator Securities and Exchange Board of India to crackdown on ponzi schemes, access phone call records to check insider trading and carry out search and seizure operations.
The fund house had offered two options to affected investors -- either monetisation of assets by trustees or hiring a third party to conduct the process.
The Supreme Court on Thursday said it will hear on July 20 the Amazon plea against the Delhi high court verdict which stayed the directive by its single-judge and paved the way for the multi-billion dollar deal to amalgamate Future Retail Ltd (FRL) with Reliance Retail. A bench of Justices R F Nariman, K M Joseph and B R Gavai was informed by senior advocate Harish Salve, appearing for the Future group, that a Singapore tribunal will commence hearing on the issue from July 12 and requested that the proceedings on the appeals be adjourned for a week. Senior advocate Gopal Subramanian, appearing for the US-based e-commerce giant, said he had no problem if the hearing on the appeals was adjourned by a week, as they will be busy next week before the tribunal.
Senior advocate C A Sundaram, appearing for Roy, submitted that his client has some business overseas and he is needed there.
The education would help investors in protecting them from volatility in the equity market and also reduce volatility in individual stocks.
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