The Securities and Exchange Board of India (Sebi) on Tuesday imposed a penalty of Rs 26 crore on Coffee Day Enterprises (CDEL) for alleged violation of securities laws. The regulator also directed the company to initiate steps to recover dues of Rs 3,535 crore-the amount diverted from seven subsidiaries of CDEL to Mysore Amalgamated Coffee Estates (MACEL). Affirming the violations of the Sebi (Prevention of Fraudulent and Unfair Trade Practices) Regulations and Sebi (Listing Obligations and Disclosure Requirements) Regulations, whole-time member Ashwani Bhatia said the listed company was being run like a personal fiefdom with no checks and balances in place.
The 100-year old Calcutta Stock Exchange is finally set to launch a trading platform, which will enable its members to trade on National Stock Exchange (NSE)-listed securities in the next one month, a move that will give the ailing exchange a fresh lease of life.
Cricket and the Olympics made for strange bedfellows when the sport featured in its roster for the first and only time in the 1900 edition of the games in Paris.
The National Stock Exchange (NSE) on Friday warned investors not to fall prey to investment plans with guaranteed returns offered by Suraj Mourya associated with "Aimers Trader". The exchange pointed out that these entities are not registered either as a member or authorised person of any registered member of the NSE. The cautionary statement comes after the NSE noticed that Suraj Mourya associated with Aimers Trader was offering to handle trading accounts of investors by asking them to share their user identification (user ID) and password.
While NSE is exploring 8-10 new agri-commodities, BSE is eyeing as many as 15, most of which aren't traded on any other online derivative exchange in India.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
'The meanness of the board statement apart, it nowhere answers the most fundamental and damaging aspects of the deteriorating work culture among top company executives to which Narayana Murthy had been repeatedly drawing attention,' says B S Raghavan, the distinguished civil servant.
In its set of recommendations, the China Committee said that economic sanctions against China in case of an attack on Taiwan will be most effective if key allies such as G7, NATO, NATO+5, and Quad members join, and negotiating a joint response and broadcasting this message publicly have the added benefit of enhancing deterrence.
Market watchdog Sebi gave its approval on October 11, USE said in a statement. NSE officials too confirmed receiving the approval.
The country's largest stock exchange in terms of volume has 'received an in-principle nod from Sebi for starting an exchange to trade foreign currency derivatives,' sources close to the development said. NSE officials, however, were not available for comment.
The GST rate for the sector has not yet been finalised by the government.
India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme, allowing the country to export $ 5.7 billion worth of duty-free goods in 2017, according to figures from US Congress.
We visit a few brokerage houses and the stock exchanges to demystify the nuances of mobile trading of stocks and derivatives.
Bourses ask for okay in the 'permitted to trade' category; brokers and legal experts speak in favour.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
The issue of allowing trading in indices such as the Dow Jones and the S&P 500 on the National Stock Exchange (NSE) is being considered by the Reserve Bank of India (RBI).
The boards of Mahindra Satyam and Tech Mahindra last year proposed a swap ratio of 2:17. Mahindra Satyam shareholders will get two shares of Tech Mahindra of Rs 10 each for every 17 shares they hold.
Chappell believed that international cricket faces a real challenge of retaining players in the face of rapid expansion of T20 leagues around the world.
The bourse has received approval from the capital market regulator Securities and Exchange Board of Indian and the RBI for introducing exchange traded currency options on dollar Indian rupee spot rate, NSE said.
Suppose you have transferred money to your trading account but did not use it to buy securities, the broker could misuse this money, warns Sanjay Kumar Singh.
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.
Leading stock exchanges BSE and NSE have barred three entities from trading on their platform after they defaulted on dues in connection with Rs 5,600 crore (Rs 56 billion) payment crisis at National Spot Exchange Ltd (NSEL).
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
India's role as a leader of the global south may require it to give up its ambition to serve as a bridge between the warring halves of the international community, points out Mihir S Sharma.
The Securities and Exchange Board of India (Sebi) has proposed measures mandating daily upstreaming of all investor funds from stockbrokers to clearing corporations (CCs). The step, aimed at reducing risk on client funds, will further deplete brokers' revenues as they will lose interest income with transfers being done daily. At present, stockbrokers convert the surplus funds into bank guarantees (BG) or fixed deposit (FD) receipts which earns them extra income.
The much-awaited trading in corporate bonds will start on the National and the Bombay Stock Exchanges from July 1. This is expected to energise the moribund debt market.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Without naming Adani group specifically, the capital markets watchdog said in a statement that unusual price movement in the stocks of a business conglomerate has been observed in the past week.
Top Indian industrialist Ratan Tata has returned as a board member of East West Centre, a prominent American think tank.
For India to reach its ambiguous economic growth targets, it needs to be integrated into global trade pacts.
While an official in the Commerce Department indicated a trade war was in the offing, till now the government has been in wait-and-watch mode.
Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 86. "The Steel Man of India passes away. It is with profound grief that Tata Steel informs of the demise of Padma Bhushan Dr Jamshed J Irani," Tata Steel said in a statement. He passed away on October 31, 2022 at 10 PM at TMH (Tata Hospital) in Jamshedpur, it said.
Crypto exchanges have been asked to furnish details this month itself.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
Singh said the warship's commissioning will boost India's maritime power.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
In an exclusive interview with PTI video, the minister also said an extensive risk-based analysis is done continuously to ensure the production of quality medicines in the country, and the government and regulators are always alert to ensure that no one dies due to spurious medicines.
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