The CBI has arrested Sanjay Gupta, owner and promoter of Delhi based OPG Securities Pvt. Ltd, in connection with the NSE co-location scam in which brokers allegedly abused the facility to make gains by getting early access to the stock market, officials said on Wednesday. The agency has already arrested Chitra Ramkrishna, former CEO and managing director of NSE and Anand Subramanian, former group operating officer of the market, they said. Gupta was arrested on Tuesday night, four years after the agency had registered the FIR in the Co-location scam case against him and his company.
The directions follow a report by the Indian Cyber Crime Coordination Centre, which has seen a new pattern of transnational cyber-enabled financial fraud and investment scam, impersonating as stockbrokers and company executives.
Shares of real estate firms have been outperforming over the past year. The rally, analysts say, may hit roadblocks in the near term amid stretched valuations, even as the long-term prospects for the sector remain ebullient. "Most of the positive news flow is already in the price. Hence, investors sitting on hefty profits may partially cash out at current levels," suggests V K Vijayakumar, chief investment strategist at Geojit Financial Services.
A Delhi court on Tuesday sent former Mumbai Police Commissioner Sanjay Pandey to judicial custody till August 16 in a money laundering case related to alleged illegal phone tapping and snooping of national stock exchange (NSE) employees.
It was alleged in an audit that Subramanian was the Yogi, but Sebi dismissed that claim in its final report on February 11.
The Enforcement Directorate on Tuesday arrested former NSE CEO and MD Ravi Narain in a money laundering case, officials said. His role is being investigated by the federal probe agency as part of two criminal cases linked to the bourse - the alleged co-location 'scam' case and the purported illegal phone tapping of employees. Narain is understood to have been arrested in the tapping case under the criminal sections of the Prevention of Money Laundering Act (PMLA).
Raymond Limited's real estate arm, Raymond Realty, plans to get listed during the second quarter of the next financial year (Q2FY26), according to Harmohan Sahni, chief executive officer (CEO), Raymond Realty. "We are expecting the order by June-July 2025 as far as the National Company Law Tribunal (NCLT) is concerned.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
In June, Sensex went up 6.6% and Nifty 6.9%, their best monthly gains since December 2023.
Students of the Vinod Gupta School of Management of IIT Kharagpur learnt the six-Sigma dabbawallah doctrine.
The National Company Law Tribunal (NCLT) on Thursday allowed the merger of Zee Entertainment Enterprises Ltd and Culver Max Entertainment (earlier known as Sony Pictures Networks India). This order by the Mumbai bench, headed by H V Subba Rao and Madhu Sinha, will pave the way for the creation of a $10-billion media company, the biggest in the country. The tribunal also dismissed all objections regarding the merger.
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.
The agency recorded his statement under criminal sections of the Prevention of Money Laundering Act (PMLA), officials said.
The state with the most people has displaced the state with the largest economy in terms of investor additions. Uttar Pradesh (UP) added 126,000 new investors in April, reveals National Stock Exchange (NSE) disclosures. This is higher than Maharashtra's 118,000. Maharashtra, which is home to India's financial capital of Mumbai, has traditionally been the biggest source of investors.
A Delhi court on Wednesday sent former MD and CEO of National Stock Exchange Ravi Narain to two days' custodial interrogation by Enforcement Directorate in a money laundering case related to alleged illegal phone tapping and snooping on stock exchange employees. Special Judge Sunena Sharma allowed ED's plea seeking Narain's custody till September 9 after the accused was produced before him by the probe agency. ED's Special Public Prosecutor N K Matta told the court that Narain was required to be confronted with other accused persons and evidence in the matter to unearth the larger conspiracy in the matter.
Ramkrishna is in the news after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges, in the appointment of Anand Subramanian as the exchange's group operating officer and advisor to the managing director (MD).
Finance Minister P Chidambaram on Friday began his day-long visit to the financial capital by reviewing the operations of Unit Trust of India.
'Hackers from China and UK were involved in the October 12 power outage,' Maharashtra power minister tells Rediff.com.
IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
The Delhi high court on Thursday granted bail to former Mumbai police commissioner Sanjay Pandey in connection with a money-laundering case related to alleged illegal phone-tapping and snooping of National Stock Exchange (NSE) employees.
The Supreme Court on Monday refused to interfere with the Delhi high court verdict granting bail to former Mumbai Police Commissioner Sanjay Pandey in a money laundering case related to alleged illegal phone tapping and snooping of National Stock Exchange (NSE) employees.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
Japan's main market for emerging technology companies is in talks with the Bombay Stock Exchange for an alliance that could lead to Indian companies listing on its board in Tokyo.
National Stock Exchange, India's biggest exchange by volume, launched its operations with nearly 200 members in 1994. BSE started operations in 1875 with 318 members.
All principal markets in Mumbai including, the Bombay Stock Exchange, the National Stock Exchange, Foreign Exchange, money market, bullion, oils and oilseeds, grains, pulses
An anonymous e-mail threatening to blow up the Bombay and National Stock Exchanges prompted the police to tighten security at the key buildings in Mumbai on Monday. "An NSE official received the e-mail and I asked for security to be beefed up at the buildings immediately after being told about it," Joint Commissioner of Police (Law and Order) K L Prasad said. Prasad said that teams from the Bomb Detection and Disposal Squad have been posted outside the buildings.
A Delhi court on Thursday dismissed the bail application of former Mumbai Police Commissioner Sanjay Pandey in a money laundering case related to alleged illegal phone tapping and snooping of national stock exchange (NSE) employees. Special Judge Sunena Sharma said the material available prima face showed Pandey was actively involved in the execution of recording and monitoring of calls at the NSE, and was directly communicating with the bourse staff as well as those of the iSec, the company he founded and which was responsible for the cyber security audit of the NSE. The judge noted the material collected by the investigating officer "prima face" showed the retired IPS officer was in de facto control of the affairs of iSec even after 2006, when he resigned as a director, and kept attending the meetings with NSE officials.
All principal markets including the Bombay Stock Exchange, the National Stock Exchange, foreign exchange, money, oils & oilseeds, metals, copra and cotton remained closed on Wednesday on account of Eid-Ul-Fitr.
The Bombay Stock Exchange and Foreign Exchange market will remain closed today due to a terrorist attack in Mumbai.
The Securities and Exchange Board of India has asked the Bombay Stock Exchange and National Stock Exchange to provide data of scrips traded on April 10 to analyse the reasons for the crash of the information technology scrips on that day.\n\n\n\n
The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Networks India) is at a very important juncture. With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.
A BSE spokesperson, confirming the resignation, told PTI in Mumbai that that BSE board has accepted his resignation and he would be relieved of his responsibilities from end-this month.
Stock exchanges have increased scrutiny of investors domiciled in Sikkim, following reports of illegal routing of investments through the Northeast state to evade taxes. The National Stock Exchange (NSE) has directed its trading members (brokers) to re-verify and certify investors who have declared their permanent address as Sikkim. Further, brokers have been told to maintain a vigil on the location of devices used by Sikkim-based clients for trading to ensure these are genuine investors from the region.
The National Company Law Tribunal (NCLT) has reserved its order on the merger of Zee Entertainment Enterprises and with Culver Max Entertainment (earlier known as Sony Pictures Networks India). The Mumbai bench of NCLT, comprising H V Subba Rao and Madhu Sinha, reserved the order on Monday, after hearing arguments from creditors who objected to the scheme including Axis Finance, JC Flower Asset Reconstruction Co, IDBI Bank, Imax Corp and IDBI Trusteeship. In December 2021, Zee Entertainment and Sony Pictures had agreed to merge their businesses.
The agency was probing the rotation of funds and the role of front companies used in rotation of funds, sources said. They added that the conduct of the regulators was also being probed and, if need be, some officials may also be probed. Experts, including CAs from the Institute of Chartered Accountants of India and the Institute of Cost and Works Accountants of India are assisting the CBI in probing the role of regulators in this case.
Taking its price war with main rival National Stock Exchange (NSE) up a notch, the Bombay Stock Exchange (BSE) has announced the waiver of all transaction charges for brokers from semi-urban areas with effect from next month.
Ahmedabad, Delhi and Mumbai, which together make up 65% of national volumes, post decline in turnover in 2nd half of 2015.
Market regulator Sebi on Monday assured the investors not to panic over the crisis in the Global Trust Bank with its Chairman G N Bajpai saying that there was no problem of settlement and stock market will function "normally".
The group has interests in auto, textiles, engineering, chemical and power sectors, among others. "We think this is a good time to enter the IT sector. Melstar also has a US subsidiary, which gives us entry into this market as well," said PVR Murthy, CFO of YBG. The group is looking at further growth through acquisition, with the current focus on West Asian and South East Asian firms.
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