The chief minister said the situation was not a crisis and dubbed the protesters Communist Party of India-Marxist cadres.
Ramalingam Kalirajan explains the pros and cons of both investment types.
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
Sebi's action on Sahara is showing results, but problems remain.
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
The Securities and Exchange Board of India (Sebi) is in the process of issuing a standard operating procedure (SOP) for designated depository participants (DDPs) regarding disclosures and onboarding of foreign portfolio investors (FPIs), according to a regulatory document seen by Business Standard. DDPs act as a link between the markets regulator and overseas investors. The SOP, framed in consultation with the industry, aims to bring consistency across all players and avoid any form of regulatory arbitrage.
PM raised the CEO salary issue couple of years back. RBI and Sebi, too, flagged it recently. Are companies really paying their CEOs more than their counterparts elsewhere?
The regulator acted on the basis of a June 2011 complaint from the Office of the Directorate of Income Tax.
The government said on Friday an Investor Protection Fund is proposed to be set up with amounts collected by the market regulator Securities and Exchange Board of India by way of fines and penalties.
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
Backed by their strong physical presence across the country, UTI Mutual Fund and SBI Mutual Fund (MF) have managed to mobilise a higher proportion of their total assets under management (AUM) from towns and villages than their peers. Data compiled by Nuvama Institutional Equities shows that UTI MF and SBI MF are the only two major fund houses with over a fifth of their AUM coming from areas beyond the top 30 cities (referred to as B-30). UTI MF tops the chart with 23.8 per cent of its assets belonging to B-30 centres, followed by SBI MF with 21.2 per cent B-30 assets. The industry average stands at 17 per cent.
The government should take steps to mandate that companies have at least two women board members, and at least one of them should be an independent director, in the next two years.
For financial sector companies setting up shop in India, as of now the go-to regulators are obviously Sebi and the RBI with carve-outs for IRDAI or possibly PFRDA. But this could change soon with the International Financial Services Centres Authority, observes Subhomoy Bhattacharjee.
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
'NSE has thousands of employees. It is their institution. So it's a dear family.' 'One should not hurt the morale of these people.'
Abu Dhabi is no longer exclusive hub for Jet, Etihad won't recommend candidates for Jet management.
The Enforcement Directorate has recently recorded the statement of former NSE managing director and chief executive officer Chitra Ramkrishna, lodged inside Delhi's Tihar jail, as part of a money laundering investigation against her and others, officials said Tuesday. The proceedings for recording the statement were conducted on two occasions inside the jail. The statement has been recorded under the criminal sections of the Prevention of Money Laundering Act (PMLA), they said. Ramkrishna is lodged in the Tihar jail after she was arrested by the Central Bureau of Investigation (CBI) on March 6 in the alleged National Stock Exchange (NSE) co-location scam case and investigation linked to other governance irregularities at the bourse.
The crises of the 21st century, 9/11, the economic meltdown, COVID-19, Russia-Iran war and the Hamas-Israel war seem to be never ending. In this situation, Iran might be contemplating a nuclear deterrent to defend itself, observes Ambassador T P Sreenivasan, the distinguished long-time Rediff contributor who turns 80 on June 17..
The government said on Tuesday it has advised capital market regulator Securities and Exchange Board of India to make regulations for investment advisors.
An RTI applicant had sought information 'as to how much more time it would take for Sebi to complete the investigation in the matter of Cal Refineries' and at which stage the probe was, but the regulator declined to share any details saying that it was not a fit case for RTI Act.
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
The value of unclaimed securities and other assets was nearly Rs 20,000 crore in March 2020.
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
The government is looking to sell shares of Reliance Industries (RIL) held through Specified Undertaking of the Unit Trust of India (SUUTI) and is soon going to appoint an intermediary to manage it. The plan is to sell about 8 lakh shares of RIL that will help the government garner around Rs 180 crore. The Department of Investment and Public Asset Management (DIPAM) will appoint an intermediary that will act as a custodian of these shares. The intermediary, based on its market analysis, will offload these shares at the best price, said an official. A final approval on the proposal is expected soon.
In the high profile co-location case, markets regulator Sebi on Wednesday imposed a penalty of Rs 1 crore on the NSE for failing to provide a level-playing field for trading members subscribing to its tick-by-tick (TBT) data feed system. In addition, the regulator levied a fine of Rs 25 lakh each on NSE's former managing directors and chief executive officers Chitra Ramakrishna and Ravi Narain. Alleged lapses in high-frequency trading offered through NSE's co-location facility came under the scanner of the watchdog after a complaint was filed in 2015.
The regulator wants powers similar to Income Tax and CCI.
Sebi had acted against 10 brokerages after over 10,000 investors failed to get shares in last year's Coal India IPO in spite of legitimate applications.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
Former NSE managing director (MD) and chief executive officer (CEO) Chitra Ramkrishna and group operating officer and her advisor Anand Subramanian ran a 'money-making scheme' during their stint at the National Stock Exchange (NSE), markets regulator Securities and Exchange Board of India (Sebi) has alleged. The order passed by Sebi dated February 11 highlights frequent increase in the compensation package of without proper appraisal, documentation or file notings, and the involvement of the human resource (HR) head or the nomination and remuneration committee. Furthermore, the order talks about Subramanian being directed to "withdraw and surrender" to the unknown person a gross amount per month as "gratitude".
The Sebi, on Friday, banned 14 life insurance companies, including Reliance Life, SBI Life, ICICI Prudential, Tata AIG and HDFC Standard Life, from raising fresh money in ULIP schemes that invests a major chunk of funds in stock markets.
The Securities and Exchange Board of India (Sebi) on Friday banned Mumbai-based high net worth individual Sanjay Dangi and promoters related to him from dealing in equity markets. Promoters and promoter entities of Murli Industries Ltd, Ackruti City Ltd, Welspun Corp Ltd, and Brushman India Ltd have been barred from trading in their own and group companies' shares.
Replying to a PTI request for the letters under the Right to Information Act, the Prime Minister's Office cited a clause that bars disclosure of any information that 'would lead to unwarranted intrusion of the privacy of the individual'.
The Securities and Exchange Board of India (Sebi) has proposed stricter disclosure norms for certain foreign portfolio investors (FPIs) to bring in more transparency and trust against the backdrop of the Adani-Hindenburg Research saga. Under the new norms, FPIs with an exposure of more than 50 per cent to a single group or with assets of over Rs 25,000 crore will be tagged as 'high risk' and will be required to provide additional information such as full identification of their ownership, economic interests, and control rights. A failure to provide these disclosures will lead to invalidation of the FPI registration.
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