The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
Car maker Maruti is hoping to improve margins.
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
The company has not been able to sell its 9.8% stake in Cairn India
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
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The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Regulator believes Jet Airways deal triggers open offer
The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
May include 'influencing a company's major policy decisions' in the current meaning.
Sebi's move to reduce time period required between subsequent QIPs to two weeks would help companies raise capital at regular intervals and time their share sale better.
In a wide-ranging overhaul of rules to make India an easier, safer and attractive investment destination, Sebi on Tuesday unveiled a new set of streamlined entry norms for foreign investors, while putting in place checks against any wrongdoings by the company promoters.
While the FIPB has sought more transparency on whether the rules concerning effective control would be followed once the deal fructifies, the Finance Ministry has also written to Sebi for a report on the Jet-Etihad deal, official sources said Wednesday.
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
This is the largest single dose of equity infusion into the joint venture since its launch in January 2015.
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.
India, Taiwan and countries with large numbers of Tibetans, Uyghurs and overseas Chinese will be prominent among those that witness elevated United Front activity, notes Jayadeva Ranade, the distinguished China expert and retired RAW officer.
Delhi-based Great Eastern Energy Corporation is planning a public issue, part of which will be "sponsored", meaning foreign shareholders will also tender their shares for sale, a first for the Indian markets.
The expected interest rate hike in the US and the resultant volatility in the domestic secondary market could play a dampener to the over Rs 2-trillion initial public offering (IPO) pipeline in 2022. IPOs in 2022 look promising, with as many as 35 companies holding the Securities and Exchange Board of India's approval to raise roughly Rs 50,000 crore. Another 33 companies are waiting for the regulator's nod to raise around Rs 60,000 crore next year.
While Jet founder Naresh Goyal said he was willing to infuse Rs 700 crore and also pledge all his shares in the company provided he can have at least 25 per cent stake, the airline's foreign partner Etihad Airways insists he must not keep more than a 22 per cent stake.
The bank was worth over Rs 80,000 crore as recently as September 2017. The lender had grown at breakneck speed, helped perhaps by Rana Kapoor's reputation as a banker, willing to aggressively write checks.
Earlier, SC had given two weeks to prove Chidambaram deliberately granted FIPB clearance in 2006
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
The two companies are hopeful of winning over at least one regulator's go-ahead this week itself for their deal, which happens to be the first FDI by a foreign airline into India.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
Concerns over effective control not addressed in the second revised shareholders' agreement, says DIPP; Sebi opposes commercial cooperation pact
The regulator may float consultation papers for FPIs and private equity funds and the final decision will be taken after taking into account views of all the stakeholders
Apart from a stake buy, some other options on the table include a merger of the entertainment businesses of Sony and Network18 Media.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
With most Adani Group shares locked in lower-circuit in early morning trade based on news that accounts of three foreign portfolio investors, heavily invested into group companies, were frozen by the National Security Depository Limited, market experts advise caution that investors should not jump in now to buy at lower levels.
A senior official with Muthoot Finance said the group would also want to apply for a universal licence.
The paper will invite comments on whether or not the royalty ceiling applicable till 2009 should be re-imposed.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
We have cleared all dues to our employees, says Ajay Singh
Leading brewer Anheuser-Busch InBev will pay USD 6 million (Rs 40.2 crores) to the American authorities for settling charges of making "improper payments" to government officials in India to push sales and production.
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
The parties have jointly applied to the Delhi high court, requesting that it accept their agreed terms of settlement, subject to such further orders as the court sees fit, it said.
Special Judge Ajay Kumar Kuhar said the CBI demand was "justified" that Chidambaram has to be further interrogated in its custody.
Sinha started his tenure at Sebi a bit shakily making people wonder if he'd complete his three years. Eventually, he went on to stay twice that long.
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