The settlement with Sebi was seen as Infosys admitting guilt of the lapse, clearing out any legal or regulatory challenges and preparing ground for new chief executive officer Salil Parekh.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
Special court will announce judgement in Satyam case on Dec 23.
The regulator is also planning to widen the ambit of 'deemed fraudulent activities'.
The Supreme Court has given troubled conglomerate Sahara a month's time to explain why a receiver should not be appointed to auction off its properties.
What's required is proper implementation of the rules and better coordination between market intermediaries such as stock exchanges and clearing members who play a key role in monitoring brokerages.
The Bombay Stock Exchange on Wednesday put in place a graded penalty mechanism, with fines starting from Rs 10,000 for brokers who fail to make timely submission of risk-based supervision data and prolonged non-compliance leading to disablement of trading terminals.
Taiwan considers itself a sovereign state -- but China views the self-ruled island as a breakaway province. Beijing has not ruled out the possible use of force to achieve unification.
The capital markets watchdog had set up an expert panel in March to suggest new measures to regulate insider trading.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
Aditya Verma, the petitioner in the Indian Premier League betting and spot-fixing case, says, as per the Supreme Court order, no official having commercial interest in the BCCI can stand in the elections because of conflict of interest.
On one hand, Limaye will have to battle legacy issues, while, on the other hand, he will have to ensure that the exchange is able to maintain its leadership position.
The NCLT said the new board must hold its meeting by October 8 and come out with a road map before the next hearing on October 31
Sebi on Monday barred Franklin Templeton AMC from launching any new debt scheme for two years and fined it Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to the six debt schemes, Sebi said in its 100-page order. In a separate order, the regulator has barred Vivek Kudva, former head of Asia Pacific (APAC) for Franklin Templeton, and his wife Roopa from the securities market for one year for redeeming units of Franklin Templeton MF schemes while in possession of non-public information.
Though the agency did not include former Sebi chief CB Bhave and ex-member KM Abraham in the case, it recommended departmental action against the two.
'It's a clear case of political patronage helping an individual grow.'
Sebi said Thapar-promoted and -related entities owed Rs 1,723.19 crore as receivables to the company, while connected parties owed another Rs 462.74 crore.
Budget may bring exemption for those backed by Indian securities other than shares
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
In the aftermath of the Karvy incident, lending against third-party collateral facility raises questions over regulations concerning banks and brokers which are at loggerheads. While Sebi and NSDL have ordered the transfer of securities, which were kept as collateral, lenders followed the old business model of sanctioning loan against shares and allegedly overlooked certain parameters. Legal experts feel that this could lead to a collapse of the loan-against-shares market as it raises questions over the sanctity of the pledged securities.
The investigative agency plans to file a second chargesheet, naming more perpetrators in the Saradha scam.
Of the 80 new appointments, 51 women are becoming directors.
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
The winter session of Parliament will commence on November 26.
Reports have suggested Rs 400-650 as the possible IPO price
The Union finance ministry has sought views of the Securities and Exchange Board of India (Sebi) for setting up a 'social bourse.'
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
With markets expected to remain volatile, promoters and lenders exposed to the industrials and materials space can face brunt of the price erosion of the pledged shares.
The previous board of Fortis Healthcare had links with Singh brothers and there was an investigation by law firm Luthra and Luthra into Rs 472 crore that was diverted into other companies.
Regulations ensure only PGs from Indian universities qualify.
Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
It's a new modus operandi of scamsters to dupe investors, warns Sebi
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
The scrutiny is expected to be over this month itself.
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