Sebi has asked exchanges to appoint independent auditors to conduct forensic audit of these firms for verification, including their credentials/financials.
In a nearly 10-year-old case, Sebi on March 24 had banned Reliance Industries and 12 others from equity derivatives trading for one year, while accusing RIL of making 'unlawful gains'.
Market regulator also announces measures for mutual funds sector.
E-commerce platform Snapdeal has filed preliminary documents with markets regulator Sebi to raise funds through an initial public offer (IPO), joining the league of internet-led businesses looking to list on domestic stock exchanges. The public issue comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 3.07 crore equity shares, according to the draft red herring prospectus (DRHP). According to market sources, potential listing could value Snapdeal at about $1.5-1.7 billion.
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
Within Sebi, the chairman should hold an umbrella for both young and old employees, says Somasekhar Sundaresan.
'The India which was all about glamour and razzmatazz through which he could earn the trust of people of the other India, which was Bharat.'
Sebi had directed some of these companies to wind up their unregistered schemes and repay investors.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained its guns on the Adani Group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently.
Under U K Sinha, Sebi became a pan-India organisation with local offices in 16 cities
Senior officials in the MF industry say while the finance ministry and regulators communicate regularly, this is one of the very few instances in many years where an issue between the two has come out into the open.
'Given the inherent volatility, investors should take at least a three to five-year view.'
These are usually found among small and midcaps. It is not easy to find such stocks, especially after a strong bull market, discovers Debashis Basu.
The Securities and Exchange Board of India (Sebi) has proposed new regulations to deal with suspicious trading activities-a move that will empower the market watchdog to go after entities making unusual profits without any fundamental basis. The regulator has issued a discussion paper, inviting feedback on the draft of the Sebi (Prohibition of Unexplained Suspicious Trading Activities in the Securities Market) Regulations, 2023, which are aimed at curbing front-running, use of mule accounts, pump and dump schemes, and misuse of social media influencers. Currently, Sebi's Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) and Prohibition of Insider Trading (PIT) Regulations deal with such activities.
Sebi also approved new delisting rules.
Sebi directs freezing of all demat accounts not linked to Aadhaar by December 31
A Mumbai court on Wednesday rejected the bail plea of businessman Raj Kundra, arrested in a case of alleged creation of pornographic films and publishing them through apps, after the prosecution contended the police investigation was still on and his release at this juncture will derail the probe.
The new powers are aimed at making Sebi more effective in protecting investor interest and helping it to better regulate the market.
Violation of provisions of Sebi Act, Securities Contracts regulation, Prohibition of Fraudulent Trade (PFTUP) norms were not observed in respect of these 114 entities.
Sebi has decided to lay out strict timelines for completion of actions.
The Ministry of Finance's Directorate of Enforcement should also be made a part of the state-level coordination panels,
The IPO of state-owned steel maker RINL is scheduled to hit the markets in the current fiscal, and the Cabinet has already accorded its approval for the stake sale.
Technical analyst will not be able to give contrary recommendations regarding a company
A global association for regulated funds that is leading efforts to shorten the settlement cycle for US equities has reached out to the Securities and Exchange Board of India (Sebi) with a plea to extend the T+1 implementation timeline by 18 months. The short transition period of four months does not provide foreign portfolio investors (FPIs), their services providers, and broker dealers sufficient time to make the necessary operational and compliance changes to accommodate a shorter settlement cycle, ICI Global said in its letter addressed to Sebi chairman Ajay Tyagi written a few days back. ICI Global carries out the international work of the Investment Company Institute (ICI), a global association for regulated funds, whose members manage assets of more than $42 trillion.
These websites may shut shop soon.
Besides bank accounts, Sebi has also in various proceedings ordered depositories, NSDL and CDSL, to attach the demat securities accounts of the erring entities.
Independent directors
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
Those who cannot bear significant downturns (as much as 40 per cent) or have a short horizon should exit entirely.
'The success of one or two IPOs does not dictate whether the upcoming IPOs will be successful or not, but it certainly indicates that the markets and investors are enthusiastic about startup IPOs.'
Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a $10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its $10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
'If you are investing in a Ulip for returns, go for a type I Ulip.' 'If you are investing for insurance cover as well, type II is better.'
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
Revenue dept says changes in I-T Act require Parliament nod; new regime to wait till Budget in June-July 2014.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
The regulator last week reached out to custodians for beneficial ownership information of investors coming from China, Hong Kong, and 11 other countries.
Co-location may well have a majority share of futures and options (F&O) trading in 2023-24 once again. It accounted for 50.53 per cent of the National Stock Exchange (NSE) derivatives trading turnover in February, higher than the 50.1 per cent share seen in 2022-23 (FY23). The share on the BSE was higher though February numbers showed a dip relative to the previous year.
