Markets regulator Securities and Exchange Board of India (Sebi) is examining allegations of front-running and other irregularities against a host of domestic fund managers across the asset management industry, said people in the know. Developments at Axis Mutual Fund have prompted the regulator to speed up probe to ensure that there is no drop in confidence in the Rs 39-trillion mutual fund (MF) industry. "We have received complaints against a few fund managers and are looking into possible violations, including those related to code of conduct," said a regulatory source, refusing to divulge names of fund houses as things are at a preliminary stage.
G20 summit noticeably lacked in responses to illicit financial flows, one of the largest drags on development worldwide
'At the heart of the strategic relationship between our countries are economic ties.'
The Supreme Court on Thursday ordered setting up of a six-member committee headed by former apex court judge Justice A M Sapre to investigate the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations and other regulatory aspects related to stock markets.
The Delhi High Court on Thursday said the National Stock Exchange was a public authority and was bound to reveal information under the Right to Information Act.
Occasionally, a whistle-blower releases sensitive financial data.
A bench headed by Justice D Y Chandrachud acknowledged that the Madras high court's remarks were 'harsh', but did not expunge them, saying they do not form part of the judicial order.
Stay orders keep law out of citizen access even years after CIC rulings on opening market institutions to scrutiny
Keep your mobile number and e-mail updated. When you receive the weekly report on cash holdings, check to ensure there is no discrepancy between the amount you have kept with the broker and what the latter has reported, advises Sanjay Kumar Singh.
The subprime crisis followed by global meltdown has had its share of fallouts; yet there is a silver line which has the world order gearing up for a new era of financial discipline, tax transparency and enhanced regulation.
Sebi has tied up with French market regulator AMF to further strengthen ties between the capital markets of the two nations.
At its meeting held on Friday, the company's board rejected the minority shareholders' demand and termed the requisition as "invalid and illegal". "In its meeting held on 1st October 2021, the board has arrived at a conclusion that the requisition is invalid and illegal; and has accordingly conveyed its inability to convene the Extraordinary General Meeting to Invesco Developing Markets Funds and OFI Global China Fund, LLC," ZEEL said in a statement.
The Central Information Commission has sought an explanation from the Delhi Employment Exchange for not sending any interview call letter to a job seeker who had applied for the post of a clerk nearly three decades ago.
The Prime Minister's Office has refused to disclose communication exchanged between former Prime Minister Atal Bihari Vajpayee and Chief Minister Narendra Modi during the 2002 Gujarat riots even after 11 years.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
India has already signed the OECD's global standard for automatic exchange of information between tax authorities two years back and once the new format is implemented, the country will follow the new protocols envisaged in it.
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
Social media is reflecting a reality that the BJP does not want communicated. More people are saying things on social media that are upsetting the government, asserts Aakar Patel.
OECD has identified at least four tax jurisdictions -- Jamaica, Qatar, Botswana and Ghana - whose tax information system would be studied to find out if they are emerging as the new tax havens following the crackdown on the existing ones. A unique tax identification number would be akin to a global permanent account number for Indian taxpayers which could remain the same across jurisdictions.
This would help investors to get a fair understanding of the companies, Sebi chairman, C B Bhave said while launching independent equity research by Crisil in Mumbai on Tuesday.
Dragged to courts by stock exchanges, Central Information Commission now wants the Supreme Court to resolve whether bourses can be brought under the purview of the Right to Information Act or not.
India has ratified an international convention on taxation which will help the country in bringing back illegal funds stashed abroad, the finance ministry said on Friday.
Sebi will soon put in place new norms for changes in constituents of the key stock market indices.
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
The apex transparency panel also asked the market watchdog to decide the matter within two months after holding consultations with the government officials as well, besides taking a view point of FIIs in this regard.
India and the US inked a tax information sharing agreement under FATCA which will enable automatic exchange of financial information.
We do not know, because there has been no discussion, no transparency and most likely no real thinking on this matter at our end, observes Aakar Patel.
Amid raging debate on Indians having black money in overseas tax havens, these statistics show that more nations, especially tax havens, are willing to share details on tax-related issues.
The American economy is resilient and durable enough to withstand the challenge posed by the ongoing economic crisis in China, the White House said while asking Beijing to move towards a transparent economy and a market-based currency system.
Investing merely on the basis of past return can land you in trouble even in debt funds, a supposedly safe asset class, suggests Sarbajeet K Sen.
Sebi's move will help curb the illicit practice of keeping the parent company's account clean while maintaining debt in its subsidiaries.
This activity will allow us to identify those jurisdictions where either the legal framework is not good enough or practices are not good enough and, therefore, information is not flowing.
The agreement will allow sharing of high-end military technology, classified satellite data and critical information between the two countries.
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
FIA is a body of four established domestic private airlines -- Jet Airways, IndiGo, SpiceJet and GoAir.
Any speculation suggesting otherwise, or any rumours around sale of our business in India are incorrect and simply that -- rumours, says head of the US-based asset manager.
Speaker Vijay Kumar Sinha, who was a minister himself in the previous National Democratic Alliance government, was visibly shaken at the disdain shown towards the Chair by Samrat Chaudhary who holds the Panchayati Raj portfolio.
These individuals largely include businessmen associated with companies, including the dummy ones, in sectors ranging from real estate, financial services, technology and telecom to paints, home decoration, textiles, engineering goods, gems and jewellery. Several of these persons and their companies are said to be based in Kolkata, Gujarat, Bengaluru, Delhi and Mumbai.
Even investors with sums as low as Rs 1,000 per month can start their investment journey.
The initiative is being undertaken by the government of Karnataka, considered one of the leaders in the technology space. Currently, India doesn't have such a platform and, globally, there are very few privately-run platforms.
