The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
After considering the facts and circumstances of the case including enormity of the prima facie violations observed against Karvy, Sebi in an order passed late night Friday said it would not be prudent to allow the use of PoA by Karvy given to it by its clients.
Using mantras from the Bhagavad Gita, Vatsal Ramaiya explains how you can conquer your home loan debt and unlock a world of financial freedom and peace of mind.
Sinha says many fund houses not abiding by rules on minimum number of investors, awareness funds
Leading brokers are expected to increase brokerage rates in the coming weeks, as they navigate a series of regulatory changes that are expected to squeeze profitability. According to industry sources, top brokers may soon begin charging for equity trades and raise the flat fees for intra-day and derivatives trading by 10-30 per cent. Several smaller players have already hiked their brokerage charges, signalling a potential end to the zero-brokerage era that has drawn millions of new investors into the stock market and fuelled active trading.
After holding discussions with the FM, the Sebi chief said the government thought it was an opportune time to levy the LTCG tax as the "markets are booming."
Armed with fresh powers to conduct search and seizure operations and attach properties and bank accounts, the Securities and Exchange Board of India (Sebi) is going all out to use these effectively.
Market regulator scours platforms to establish link between traders and those who share info.
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
In January, Sebi had barred Mallya and six former officials of USL from securities markets in a case related to illegal fund diversions.
Fund houses have been barred from being net sellers or holding net short positions at the scheme level in commodities.
Sebi wants angel networks to follow public and private placement norms
Ola Electric, the SoftBank-backed electric vehicle (EV) maker, is likely to pursue a valuation of approximately $4.5 billion in its upcoming initial public offering (IPO), marking about 18 per cent decrease from its last funding round valuation of around $5.5 billion, according to industry sources. The Bhavish Aggarwal-founded firm aims to file for the IPO by next month, according to people familiar with the matter. "The strategy is to price the IPO attractively for investors, fostering long-term growth and wealth creation," said a source.
The ruling was made by the Securities Appellate Tribunal, an independent quasi-judicial body that rules on appeals against orders passed by the Sebi.
Sinha started his tenure at Sebi a bit shakily making people wonder if he'd complete his three years. Eventually, he went on to stay twice that long.
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
Exchanges will have to facilitate a more direct interface between clients and the clearing corporation, bypassing intermediaries such as brokers, under this new proposed framework.
Markets regulator Sebi has ordered the attachment of bank and demat accounts as well as mutual fund holdings of Videocon Group founder Venugopal Dhoot to recover dues totalling Rs 5.16 lakh. The latest decision has been taken after Dhoot failed to pay the fine imposed on him in March by Sebi for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions. In an attachment notice on Monday, Sebi said the pending dues of Rs 5.16 lakh include the initial fine of Rs 5 lakh, interest of Rs 15,000 and a recovery cost of Rs 1,000.
The ongoing weakness in the broader equity market is likely to weigh on primary market investor participation ahead, which has already begun showing signs of fatigue, analysts said. The spillover effect, they say, will continue as long as the midcap and smallcap segments remain volatile. "The effect will be felt in the IPO market. The subscription levels have come down in the last few days and recent 4-5 IPOs have not done well.
Do not keep a large portion of your long-term portfolio in FDs.
In a bid to make primary markets more efficient, the Securities and Exchange Board of India on Saturday said listing time gap would be reduced further from 6 days after the IPO currently, while listing will be allowed for security receipts issued by asset reconstruction company.
The high-level panel, chaired by former Chief Justice of Karnataka and Kerala High Courts, K Sodhi, had focused on reviewing the Sebi (Prohibition of Insider Trading) Regulations, 1992.
Sahara group has been engaged in a long-running regulatory and legal battle with Sebi.
The board also approved a proposal to tighten the rules for participatory notes through imposition of a regulatory fee on issuers of such instruments.
A little over 2,400 BSE-listed stocks ended with gains in April amid a sharp rebound in the broader markets from the March lows. This was the highest number of stocks that rose during a calendar month, as per data provided on BSE's website. The previous high was 2,322 gainers recorded in January.
Sebi on Tuesday restrained two Brightcom Group officials, M Suresh Kumar Reddy and Narayan Raju, from holding any managerial position in the company or its subsidiaries until further orders. Reddy is the promoter-cum-chairman and MD of Brightcom Group Ltd (BGL) while Raju is the chief financial officer. Besides, the regulator also banned Reddy from the securities market until further orders.
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
Stock exchanges are expanding the buffet of index derivatives even as the number of stocks permitted to trade in this space, generating an average daily turnover of Rs 450 trillion, is shrinking. This week, the National Stock Exchange (NSE) started issuing futures and options (F&O) contracts based on the Nifty Next 50 Index, bringing the total count of index derivatives to five.
The tribunal, while adjourning the matter for September 16, directed Sebi to file a reply and gave three weeks to the Roys to file a rejoinder.
'The markets will correct, and they are bound to correct. The boom will turn into bust.' 'When this bust happens, people would lose like they have lost in the past.' 'Whatever you have made possibly in the last couple of years, you may lose in a couple of weeks. That's very much possible.'
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) - the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public. The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping. At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively.
The National Stock Exchange (NSE) and BSE on Tuesday said they will conduct a special trading session in the equity and equity derivative segments on May 18 to check their preparedness for handling major disruptions or failure at the primary site. The special live trading session will have an intra-day switchover from the Primary Site (PR) to the Disaster Recovery (DR) site.
Reports suggested that stock market regulator, the Securities and Exchange Board of India (Sebi), is looking into the allegations of insider trading in the shares of Aptech, a computer training company in which Jhunjhunwala is a promoter. An email sent to Jhunjhunwala on the allegations did not immediately receive a response.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
Electric two-wheeler company Ola Electric Mobility will float its initial public offering (IPO) on August 2, and a significant part of the proceeds will be used for capacity expansion of its cell manufacturing plant and revving up R&D. The initial share sale will conclude on August 6, and the bidding for anchor investors will open for a day on August 1, according to the red herring prospectus (RHP).
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
