The latest request has been made by Sebi chairman U K Sinha after his predecessor C B Bhave failed at least twice in his attempts to secure an authorisation for Sebi to tap phone for its surveillance and investigative actions.
Modi said that Gandhi wouldn't have approved of this.
The Securities & Exchange Board of India (Sebi) pulled up investment bankers for holding the interests of promoters above those of investors. "If you look at maximising the price for promoters, then obviously you are not looking after the interests of investors," said Sebi Chairman C B Bhave.
After announcing the 15-member squad for the forthcoming World Cup, selection committee chairman Krishnamachari Srikkanth on Monday said that the selectors have picked the best possible combination for the quadrennial event, to be held in the sub-continent from February 19 to April 2.
A police sub-inspector, posted in naxal-infested Gadchiroli district, has been booked on charges of raping a 21-year-old wife of an Australian national working in an airline and extorting money from her, police said on Monday.
Securities Exchange Board of India chairman C B Bhave, and Insurance Regulatory Authority of India chief J Harinarayan had separate meetings with finance secretary Ashok Chawla on Monday over the ongoing tussle between the two regulators over equity-linked insurance schemes.
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.
Nine foetus, allegedly dumped in the river by a private hospital, were on Thursday recovered along the banks of Daman Ganga river near Athaal, the police said.
After raising Rs 1,600 crore through an initial public offer in August, the Hyderabad-based company on October 4 terminated the services of Gurumani four years ahead of the expiry of contract and named M R Rao as his successor. Gurumani had a five-year contract starting from April 1, 2009.
Investment bankers have dismissed the capital market regulator Sebi's concerns over near-zero fee for managing public sector issues.
Market regulator, Securities and Exchange Board of India, has directed foreign institutional investors to disclose more information about their investment structure in India.
In March, Sebi had decided to allow physical delivery in the equity derivatives segment to bring down speculation in the stock markets and had said it will hold talks with the stock exchanges and work on the system.
Questions market regulator's showcause to insurers on conceptual, legal, structural grounds.
A 1976 batch IAS officer of the Bihar cadre, Sinha replaces C B Bhave who retires on February 17, 2011.
Capital market watchdog Sebi on Friday said foreign institutional investors have to, by October one, end the practice of investing money collected from a single or few investors in stocks, as a guard against manipulation.
On January 5, BSE chief executive officer, Madhu Kannan, had said that the country's premier bourse would announce the launch of its SME Exchange within a fortnight.
Sebi's latest direction is against floating any new product.
Karnataka bowlers, led by experienced Abhimanyu Mithun (2-24), put up a spirited show to restrict Maharashtra to 155/4 despite an unbeaten 69 by all-rounder Naushad Shaikh.
Committee on Consumer Policy, a body established by ISO, is holding an international conference in New Delhi to study the feasibility of developing uniform standards. Inaugurating the event on Tuesday, consumer affairs secretary Yashwant Bhave said the deliberations have to find out whether inter-operability in consumer goods will work.
The Disciple is an ode to music and a salute to Mumbai. The city can be harsh, but it also lets the voices of struggling classical musicians exist, although often they live on the edge of society, observes Aseem Chhabra.
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.
The Securities and Exchange Board of India (Sebi) has decided against filing a joint application before a court to resolve its dispute with the Insurance Regulatory and Development Authority over unit-linked insurance plans.
Sebi's remarks assume importance as the benchmark equity index, Sensex, has surged by over 75 per cent this fiscal to 16,998.78 points.
"The listing time should come down to seven days... primary market is still somewhat inefficient compared to the secondary market," Sebi Chairman, CB Bhave said.
In a significant relaxations on Wednesday, the Securities and Exchange Board of India changed pricing rules for qualified institutional placements in view of rising market volatility, and reduced the timeline of rights issues. But the market regulator did not change, as widely expected, the guidelines for participatory notes, derivative instruments, through which many foreign investors trade on the Indian bourses.
Further, the market regulator has not got any request from the Satyam board asking for an extension to publish the financial results. However, Sebi will consider the request if they receive it, clarified Sebi Chairman C B Bhave who was briefing mediapersons after the Sebi board meeting.
To be listed on the main boards of the NSE and BSE, these exchanges will have to have Rs 10 crore of minimum paid up capital.
"Help in growing the equity culture in the area in people's language. Most of our communication tends to beEnglish. We need to get all of this communication done in the local language without which we are losing huge audience", he said at a function in Chennai.
There are some difficulties in bringing changes in buyback norms and we are having a relook at the regulations, says C B Bhave.
Details of the hearing could not be ascertained. Last month, Sebi had dismissed the recommendations made by a committee in two of three matters filed on the subject.
Former India captain Krishnamachari Srikkanth on Saturday became the new Chairman of the National Senior Cricket Selection Committee, replacing Dilip Vengsarkar at the helm of affiars.
An effective settlements system has helped Indian stock markets face the challenges posed by the global financial meltdown, the Sebi chairman said on Wednesday.
Under the takeover code, an investor who acquires 15 per cent of a company needs to make an open offer for another 20 per cent at a price which is not less than the average share price of the previous six months. This means a buyer of more than 15 per cent of Satyam will have to make an open offer at a price almost six times Monday's closing price of Rs 57.60.
The Raju brothers, along with Satyam's former CFO Vadlamani Srinivas, are in judicial custody awaiting charges to be filed against them. On January 7, Raju disclosed that he had falsified profits and created fictitious assets in the company, which is now being administered by a government-appointed board.
Security and Exchange Board of India Chairman C B Bhave and representatives from the Reserve Bank and Corporate Affairs Ministry are likely to brief parliamentary standing committee on finance about the latest developments in the Satyam fraud case, at a meeting called on Wednesday to discuss the issue.
Prime Minister Manmohan Singh on Tuesday held discussions with Commerce and Industry Minister Kamal Nath and is believed to have reviewed the Satyam issue, a day after the minister came out in support of extending financial help to the beleaguered IT firm.
"We don't really have evidence that short-sellers are driving the market down," Sebi Chairman, C B Bhave, told reporters on the sidelines of a conference. The Sebi chairman said that though some western markets had banned short-selling, their markets had continued to decline further. "Their (financial) institutions failed one after another. Some of them have re-started short-selling in their markets," Bhave said.
Market regulator SEBI on Tuesday said it will be able to take action against the culprits in Satyam accounting fraud case in the next one year.
Playwright-director and actor Santosh Pawar has found himself in the spotlight ever since the bomb blast took place at Gadkari Rangaytan, Thane, Maharashtra, where his new play, Aamhi Pachpute, was scheduled to perform.
The trading timing would be from 0900 to 1700 hours from Monday to Friday, the exchange statement said. The Securities and Exchange Board of India Chairman, C B Bhave, will inaugurate the currency derivatives at MCX-SX on Monday, but the trading will commence only the next day, it said.
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