Making it easier for companies to raise funds through genuine equity or debt offers, Sebi unveiled a slew of measures to bring to book those running illegal money-pooling schemes and indulging in other fraudulent activities.
The company's Chief Executive Officer G S C Rao, Chief Financial Officer Sanjay Tapriya, Executive Director Gursimran Kaur Mann and five non-executive directors have also been booked by the agency. Gurpal Singh is the son-in-law of Punjab Chief Minister Amrinder Singh.
Indian-American actor Vivek Shah, 26, of West Hollywood, California, was sentenced to 7 years and 3 months in federal prison for orchestrating a multimillion-dollar extortion scheme.
Prime Minister Narendra Modi addressed the nation from the ramparts of Red Fort in New Delhi as India celebrates the 72nd Independence Day. This is Modi's fifth and final address as PM in the current tenure. During his speech, Modi reflected on the achievements of the National Democratic Alliance government and presented a report card of his four-year tenure. Here are the main takeaways from his address:
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
'It is strange a government that is bold and coercive has meekly chosen to do more of what has repeatedly failed to work in the past.' 'And sadly, rating agencies, the business community, fund managers, and analysts, who know this, have chosen to act as compulsive cheerleaders,' says Debashis Basu.
Interception of electronic communication should also be covered in the powers being sought, the report said.
Citing the SC order in Sahara case, Sebi has passed orders against at least five companies and 21 individuals charged with collecting thousands of crores fraudulently
Brazilian police said on Tuesday they had uncovered emails between detained International Olympic Committee (IOC) member Patrick Hickey and the British owner of a ticketing company they said masterminded a scheme selling Olympic tickets illegally.
Promoters of world's cheapest smartphone refund customers' money, close fresh bookings
Manjeet Bawa, 46, of New York and other co-defendants contracted to buy homes in Nassau and Suffolk Counties from innocent sellers at market prices.
True, Azam Khan is being targeted rather disproportionately and also because of his Muslim identity. That must be protested and resisted. But to say that he is a big messiah, and his profit-making educational enterprise is an issue concerning all Muslims of India, is absolutely unjustified, assert Mohammad Sajjad and Md Mohammad Zeeshan Ahmad.
Vipul Ambani, a runner who participated in city marathons, never wore his last name on his sleeve, was easy-going, mild-mannered and always smiling. Yet, the question that begs to be asked is why would he join a luxury jewellery company, says Pavan Lall.
The framework does not allow settling of serious violations that have 'market-wide impact'.
Fraudsters were luring gullible investors of daily returns up to Rs 75,000.
'Rather than an outcome of 'pro-incumbency', the exit poll results betray a completely lackadaisical approach of the Opposition parties.' 'While a new kind of politics was on display for the past five years, they were still mired in their old-style methods which will cost them the election,' predicts Utkarsh Mishra.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
One indictment accuses Huawei of trying to steal trade secrets from T-Mobile, and of promising bonuses to employees who collected confidential information on competitors. A second indictment claims the company worked to skirt US sanctions on Iran.
H-1B visa reform bill introduced in US Senate
Brazilian police arrested Europe's top Olympic official in an early morning raid of his beachfront hotel in Rio de Janeiro on Wednesday, in connection with an investigation into ticket touting at the Olympics. The police said they had discovered evidence linking 71-year-old Irishman Pat Hickey to an international scheme to illegally pass Olympic tickets to touts who were reselling them at well above their original price.
Though the agency did not include former Sebi chief CB Bhave and ex-member KM Abraham in the case, it recommended departmental action against the two.
In a 43-page order, SEBI said it will bar DLF and its chairman KP Singh along with five other company executives from accessing India's capital markets for three years.
DLFknowingly suppressed material facts: Sebi
The capital markets watchdog has asked the government to empower it to carry out search and seizure operations, to attach properties and to ask for information and records for all relevant entities.
Here are some pointers that should serve as red flags for you
Three Indians have pleaded guilty to criminal charges of conspiring to commit student visa and financial aid fraud through a for-profit school they ran and agreed to forfeit over USD eight million to federal authorities.
'When buying a term insurance plan, you need to visualise today what could happen to your family tomorrow in your absence,' suggests Mahavir Chopra, director-health, Coverfox.com.
As Rose Valley resurfaces, Sudip Bandyopadhyay and Tapas Pal's arrests marks the end of the bonhomie between the TMC and BJP.
Satyam Case has not ended after court verdict, there's lot to unfold say insiders.
Initially reluctant to involve the CBI in the investigation on the ground that the central agency had not been able to make any headway into the Nandigram and Netai killings, Chief Minister Mamata Banerjee later changed her stance, saying that the government was not averse to it.
A SFIO probe into Saradha scam and 'chit fund' operations of 62 other entities has found serious financial mismanagement and siphoning off the funds by their promoters, who took advantage of regulatory gaps.
'NiMo having skipped, the next best bet is a high-profile banker.' 'Ms Usha happens to be in the wrong place at the wrong time.' 'Ms Usha's crime? That's as thin as it gets.'
The chief minister skipped meals and remained awake the entire night on a makeshift dais along with some senior ministers and party members.
According to sources familiar with the development, Sebi has decided to make references to the Ministry of Corporate Affairs and the Department of Revenue, citing violations of the Acts these bodies govern.
Swadeshi economist, columnist and chartered accountant S Gurumurthy speaks to Shobha Warrier about one year of Modi Sarkar.
The movies that impressed, puzzled and stunned Sukanya Verma at MAMI this year.
Biometric authentication is based on the unscientific and questionable assumption that there are parts of human body that does not age, wither and decay with the passage of time.
The workers who were hired straight out of school as unskilled labourers are now struggling to find alternative employment because they lack skills.
Six compelling reasons to use your credit card. WARNING: reckless use of plastic can land you in a debt rap
