US short-seller Hindenburg Research had shared an advance copy of its damning report against Adani group with New York-based hedge fund manager Mark Kingdon about two months before publishing it and profited from a deal to share spoils from share price movement, according to market regulator Sebi. The Securities and Exchange Board of India (Sebi), in its 46-page show cause notice to Hindenburg, detailed how the US short seller, the New York hedge fund and a broker tied to Kotak Mahindra Bank benefited from the over USD 150 billion routs in the market value of Adani group's 10 listed firms post-publication of the report.
In a bid to attract smaller players to the country's first offshore mineral mining auction, the government is considering easing the regulations related to performance security and upfront payment. The proposed plan involves a cap of Rs 100 crore each for performance security and upfront payment for a production lease (PL). A holder of a composite licence (CL) would only need to pay Rs 50 crore as performance security.
"It is a half-baked law, but we support it as our party favours stringent laws to defend national security," Nishikant Dubey (BJP) said initiating the debate on the Foreign Contribution (Regulation) Bill, 2010, already passed by the Rajya Sabha.
Opposition in the Lok Sabha on Friday dubbed as half baked the legislation to regulate foreign contributions in the wake of changed internal security environment.
The change will help companies address market rumours without being worried about the impact on deal pricing.
India and Canada have mutually beneficial political and economic linkages. The two countries should get together and find a solution. The expulsion war should, in the meantime, be a guarantee against any deterioration of the situation, asserts Ambassador T P Sreenivasan, the first Indian head of mission to be ever expelled by any country.
A bench of Justices DY Chandrachud and Hima Kohli commenced hearing on the plea of the news channel against the Kerala high court's order upholding the Centre's decision to ban its telecast on security grounds.
Numbers could be classified further into (140) marketing and (160 or 161) for service calls to easily identify the purpose of the call in the future.
'The committee has been constituted. Different government departments and FSDC members are part of it.'
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Indian pharmaceutical companies are stepping up their efforts to combat the problem of counterfeit drugs, employing a variety of strategies, from packaging innovations to engaging private investigation agencies. The stakes are high, as counterfeit medicines not only harm consumers but also tarnish the reputation of leading brands.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
Terming forced religious conversion a "very serious" issue, the Supreme Court on Monday asked the Centre to step in and make sincere efforts to check the practice.
Alternative investment funds (AIFs) are yet to fully demat the outstanding units even as the deadline ended on October 31. Industry players say they are working on the transition from physical to electronic with the depositories Central Depository Services (India) Limited (CDSL) and National Securities Depository Limited (NDSL). Some said they are hoping for some relaxation from the market regulator Securities and Exchange Board of India (Sebi), given the teething problems they are facing.
The meeting will review the current global and domestic economic situation and financial stability issues, including those concerning banking and NBFCs.
India must learn from the missteps made by financial regulators in the US and UK.
Trumponomics, poor growth, and high valuation certainly don't make a bullish recipe for Indian markets, warns Debashis Basu.
Capital markets regulator Sebi has extended the deadline for implementation of rules related to mandatory confirmation or denial of market rumours by the top 100 listed companies. The deadline has been extended for the top 100 listed companies by market capitalisation to June 1 from February 1 this year at present, according to a circular by the Securities and Exchange Board of India (Sebi). For the top 250 listed entities, the rule will kick in on December 1, 2024, from the current requirement of August 1, 2024.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
The government is contemplating changes to the Insolvency and Bankruptcy Code (IBC) to deal with environmental claims and liabilities of defaulting companies to make the law future-ready and meet climate action goals, sources told Business Standard. Currently, the IBC has various categories of claims and creditors, including those related to environmental liabilities.
The Australian government cancelled Novak Djokovic's visa for a second time on Friday, saying the World No 1, unvaccinated for COVID-19, may pose a risk to the community.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
India may be 15th among the top 25 Artificial Intelligence nations, but it has the 'the greatest upward potential' according to research by Tufts University's business school, the Fletcher School. At the top is the US, followed by China, fighting for global leadership in AI followed by the UK, Japan, and Germany. In the 15th spot, India is ahead of Brazil, Argentina, Indonesia, Mexico, Turkey, Indonesia and Thailand.
The United States Securities and Exchange Commission, the federal agency to regulate the securities industry in that country, has sought India's permission to probe the multi-million dollar Satyam fraud case.
Data from Value Research analysed on five-year, three-year and one-year performances of active equity schemes to pick the best performers in popular scheme categories.
Brokers believe that the higher charges may not completely deter investors from taking bets in F&O but could help cool down some activity, as the threshold to break even rises.
He said the multi-party committee formed by the Speaker in Himachal Pradesh would discuss all issues about street vending on October 3. Singh's remarks came a day after the Congress top brass chided him over his remarks on mandatory display of names by the street vendors and told him that no one was allowed to go against the party's policies and ideologies.
The strict curbs, including a curfew from 8 pm till 7 am, and prohibitory orders during the daytime on weekdays came into force from Monday in the state.
Expressing concerns over a fast-growing grey market in the financial sector, Sebi chief U K Sinha called for a single watchdog to regulate all entities collecting public money under various illegal means.
The finance ministry is in favour of extending the August deadline for public sector banks (PSBs) as well as insurance companies to increase their minimum public shareholding (MPS) to the mandated 25 per cent, said a senior government official. "The election results will determine the course of action. "Most likely, those who did not receive an extension to meet the minimum shareholding norm will be granted one," the senior government official said.
A committee appointed by financial regulators has recommended an overhaul of regulatory norms governing credit rating agencies (CRAs) and sought a host of disclosures from them to make the system more transparent.
The bench added that in a criminal case, a charge sheet is filed against the accused, and no matter how sensitive the charges are, they are disclosed to the accused, and in the present case, it is not even at that threshold.
Ramalingam Kalirajan explains the pros and cons of both investment types.
At the same time, the survey also suggested broadening the long-term debt markets by liberalising the investment norms for insurance and pension funds and said that the government could consider a guarantee mechanism for credit enhancement of long-term infrastructure debt.
'This is the first case in which we saw use of Starlink by smugglers.'
Only a fifth of foreign portfolio investors (FPIs) in breach of the market regulator-specified thresholds may need to provide enhanced disclosure on ultimate beneficiaries, thanks to exemptions being provided, according to people in the know. The ultimate beneficial ownership (UBO) disclosures, for FPIs with over 50 per cent holding in a single corporate group or over Rs 25,000 crore exposure to Indian assets, will be required from February 1. But, depending on their category, FPIs will have 10-30 working days to submit these granular details.
The Sebi chief said that although the idea of an SRO has been challenged in court, he is hopeful of its implementation.
