The number of equity schemes rose to 562 from 519 two years ago. Equity NFOs, in fact, have mopped up more than Rs 16,000 crore since 2018 - 2.7 times the Rs 5,948 crore collected in the preceding three calendar years.
The Delhi high court on Friday declined Future Group's plea for stay on an arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail. Justice Suresh Kumar Kait sought response from US-based e-commerce giant Amazon which had challenged the merger before the Singapore arbitration tribunal under SIAC, and listed the appeals by Future Coupons Pvt Ltd (FCPL) and Future Retail Ltd (FRL) for further hearing on January 4. Senior counsel Harish Salve, appearing for FRL, urged the court to pass an interim order clarifying that an earlier order passed by the Supreme Court - which stayed all proceedings in relation to the enforcement of the EA - would remain in force despite the subsequent order passed by the duly constituted arbitration tribunal.
The Supreme Court Tuesday set aside three Delhi high court orders including the refusal to grant a stay on the final arbitral award which had restrained Future Retail Ltd from going ahead with its Rs 24,731 crore merger deal with Reliance Retail and ordered fresh adjudication. In a major relief to Future group, a bench headed by Chief Justice N V Ramana also set aside the high court's order of February 2 last year, by which it had directed Future Retail Ltd (FRL) to maintain status quo in relation to the merger deal. The March 18 order of the high court, upholding the EA's award and imposing a cost of Rs 20 lakh on it as well as its directors, has also been set aside.
The Bengaluru-headquartered company said the 'draft assessment order' from tax authorities for 2008-09 fiscal has arised primarily due to denial of deduction under section 10A of the Income Tax Act, 1961, in respect of profit earned by its undertaking in the Software Technology Park at Bengaluru.
The Sebi Act deals with securities and the definition of securities, according to the Securities Contracts Act, doesn't include commodities.
'I was shocked by the kidnapping episode. I could have lost my life.'
Gupta's lawyer Seth Waxman argued his case during a hearing before a three-judge panel of the 2nd US Circuit Court of Appeals in New York on Monday.
Bribe for Goa project estimated at $976,630
Raghu Krishnan profiles the man in the eye of the storm at Infosys.
Such brokers connect buyers to sellers, taking a commission on the deal.
H-1B workers have minimal skills, says Infosys whistleblower
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
'If Walmart is a physical retailer, why is it striking a deal with Flipkart for the online space?'
Sinha replaces former Sebi chairman C B Bhave who served as the head of the Asia-Pacific regional committee of IOSCO from June 2009 till February this year.
With the Securities and Exchange Board of India abolishing the entry load on mutual funds, sector experts believe distributors are likely to aggressively push high-commission insurance products. The quashing, applicable from August 1, will bring down their commission to less than half of what they earn right now. The result is likely to be aggressive selling of, for one, unit-linked insurance plans (Ulips).
The Gujarat and Himachal Pradesh Assemblies must be in place before January 15, 2013.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
Over the past few months, Infosys has been battling allegations by Murthy and other former senior executives of falling corporate governance standards.
An estimated 14.3 crore accounts on the popular social networking site Facebook may be false or duplicate, with a major chunk of them coming from developing markets like India and Turkey.
The Central Information Commission has directed the Securities and Exchange Board of India to make public names of entities which were allegedly involved in the insider trading of shares of Reliance Petroleum in 2007.
Experts say the trend is worrying as it could take a toll on the pace of equity flows and also hinder the penetration drive of the Rs 24-trillion MF industry.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
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.
Sepp Blatter faces months of troubles before departure.
The offer is to close on April 26 and the price is fixed at Rs 1,440 a share.
Moves Bombay HC against CIC order issued in 'public interest'
Distant booms of the guns broke early Saturday morning slumbers of residents of Sunjwan garrison town on the outskirts of Jammu.
In a circular, Sebi said QFI would now mean a resident in a country that is a member of the Financial Action Task Force or a member of a group which is a member of FATF.
Under the modified agreement, the issuing company will have to treat all holders of IDRs on a par with shareholders in its home country.
Government auditor CAG has rapped five regulators, including Sebi, Irda and PNGRB, for keeping their surplus funds worth over Rs 2,142 crore collected through fee and penalty outside the government accounts.
We have seen great strides in all-around cooperation, Chinese foreign ministry spokesperson said.
Finance firms in these SEZs likely to get tax breaks.
Prime Minister Narendra Modi strongly condemned the attack.
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.
Market regulator, the Securities and Exchange Board of India, has set out five broad categories for mutual fund schemes, including equity, debt and hybrid funds that will benefit investors, says Ashley Coutinho
The company said the committee, headed by independent director D Sundaram and assisted by independent legal counsel Shardul Amarchand Mangaldas & Co, and PricewaterhouseCoopers, found that the "allegations are substantially without merit".
Simultaneous elections to Lok Sabha and state assemblies can help reduce difficulties in terms of expenditure and management, President Pranab Mukherjee said on Wednesday and asked the Election Commission to take the initiative in bringing political parties on one platform to discuss the issue.
The Delhi high court's division bench has stayed the single bench order favouring the emergency award against the Future-Reliance deal and imposing a Rs 20 lakh fine on Kishore Biyani & other respondents. including FRL and FCPL.
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