In January, Sebi had barred Mallya and six former officials of USL from securities markets in a case related to illegal fund diversions.
Sebi wants angel networks to follow public and private placement norms
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) - the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public. The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping. At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively.
Are you a first-time IPO investor? Even if IPOs appear attractive with expectations of high returns, they come with risks and complexities, cautions Sheetal Jhaveri and shares her checklist to help you navigate through the world of IPOs
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
The ruling was made by the Securities Appellate Tribunal, an independent quasi-judicial body that rules on appeals against orders passed by the Sebi.
Exchanges will have to facilitate a more direct interface between clients and the clearing corporation, bypassing intermediaries such as brokers, under this new proposed framework.
Sinha started his tenure at Sebi a bit shakily making people wonder if he'd complete his three years. Eventually, he went on to stay twice that long.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'
BSE (formerly Bombay Stock Exchange) has seen its market share go past the critical 20 per cent mark in the derivatives segment, intensifying its battle with bigger rival - the National Stock Exchange (NSE) - which, less than a year ago, had a monopoly in this space. In April, the average daily trading volume (ADTV) for BSE stood at Rs 89 trillion, accounting for 20.6 per cent of the overall ADTV of Rs 432 trillion (based on notional volumes for options).
In a bid to make primary markets more efficient, the Securities and Exchange Board of India on Saturday said listing time gap would be reduced further from 6 days after the IPO currently, while listing will be allowed for security receipts issued by asset reconstruction company.
So far this year, bankers have earned Rs 1,226 crore for handling 45 IPOs, which together mobilised Rs 48,363 crore.
Certain foreign portfolio investors (FPIs), which operate as pooled investment vehicles (PIVs), may not be exempt from the additional disclosure mandates by the Securities and Exchange Board of India (Sebi) following an update in the standard operating procedures (SOPs) for custodians. An updated version of the SOPs has specified several conditions to be met for PIVs to benefit from the exemptions granted. These include no segregated portfolios, independent investment manager, and investors having pari-passu (equal) rights in the entity.
The high-level panel, chaired by former Chief Justice of Karnataka and Kerala High Courts, K Sodhi, had focused on reviewing the Sebi (Prohibition of Insider Trading) Regulations, 1992.
Sahara group has been engaged in a long-running regulatory and legal battle with Sebi.
The board also approved a proposal to tighten the rules for participatory notes through imposition of a regulatory fee on issuers of such instruments.
Investors may have to wait a little longer for Unified Payments Interface (UPI)-based block mechanism in the secondary market even as the market regulator has set the effective launch date as January 1, 2024. Several brokerage firms said they may take a few months more to implement it. Investors will be able to register for this facility only if the stock broker has opted for the UPI block facility.
'In phases when smaller stocks do well, an equal-weight index performs better than its market cap-weighted peer.'
Adopting overly aggressive strategies without considering risk could lead to significant losses during the next downturn.
The tribunal, while adjourning the matter for September 16, directed Sebi to file a reply and gave three weeks to the Roys to file a rejoinder.
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
Mutual fund bets in their own schemes are nearing the Rs 1 trillion mark. The total value of sponsor and associate investments across all categories of schemes touched Rs 95,058 crore in February, according to a Business Standard analysis of data from industry body the Association of Mutual Funds in India (Amfi). This represents a 28.9 per cent increase over March 2023.
Reports suggested that stock market regulator, the Securities and Exchange Board of India (Sebi), is looking into the allegations of insider trading in the shares of Aptech, a computer training company in which Jhunjhunwala is a promoter. An email sent to Jhunjhunwala on the allegations did not immediately receive a response.
All investors should ideally have a 10 to 15 per cent allocation to gold. Whether they invest in gold ETFs or SGBs should depend on their investment horizon.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
Numbers could be classified further into (140) marketing and (160 or 161) for service calls to easily identify the purpose of the call in the future.
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Facing opposition fire for exit polls allegedly being used for stock market manipulation, Axis My India's chief Pradeep Gupta has said he is open to facing all kinds of investigations and it would help do business in a much better way if the government frames specific regulations for pollsters.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
SBI Capital, Axis Capital, GMR Holdings, United Breweries, Alpic Finance (a Cipla group unit), Saradha Realty, United Bank of India and Trident India are among the prominent entities named in the list.
Sebi has long struggled with balancing the needs of small investors and those of the market.
Fundraising via the initial public offering (IPO) route by companies may touch Rs 1 trillion in financial year 2024-25 (FY25), according to a recent note by Pantomath Group - a mid-market investment bank. During the financial year 2023-24 (FY24), 76 companies tapped the markets through mainboard IPOs, Pantomath said, raising nearly Rs 62,862 crore. This is a 21 per cent rise compared to FY23, the note added.
Infosys said it is also "aware of a securities class action lawsuit" that has been filed against the company in a federal court in the US, based on the generalised allegations in the anonymous complaints. The company intends to defend itself vigorously in such a lawsuit.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
Rules for market infrastructure institutions such as stock exchanges, clearing corporations, and depositories have come under review by Sebi after five years.
