Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
Disney Star is mulling legal actions against Zee Entertainment for backing out from a $1.4 billion sub-licensing agreement for TV broadcast of international cricket matches in India, according to industry sources. This could brew another legal trouble for Zee Entertainment Enterprises Ltd (ZEEL), which is already facing an arbitration plea by Sony Group at the Singapore International Arbitration Centre, claiming $90 million for breach of conditions of their merger agreement. Disney Star, an Indian subsidiary of media conglomerate The Walt Disney Company, is working on its strategy over the development, said industry sources.
Plea-bargaining finally comes to India and you can now resolve your disputes with Sebi through negotiations and settlement rather than litigation.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Sebi on Tuesday sent a notice to 7 entities, including Malvinder and Shivinder Mohan Singh, asking them to pay Rs 48.15 crore within 15 days in a fund diversion case of Religare Finvest. Sebi also warned of attachment of assets and bank accounts, if they fail to make the payment. The notice came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi).
Sebi found that the broker had committed fraudulent, manipulative and unfair activities and has also been negligent in observance and compliance of the statutory requirement in conduct of its business as a stock broker.
Sebi can also sweeten it with a stipend of Rs 5,000 each and charge the Rs 240 crore to the Sahara account
While Sahara maintains it has already repaid more than 93 per cent of the outstanding dues directly to the concerned bondholders and the remaining amount was just about Rs 2,500 crore (Rs 25 billion), it deposited Rs 5,120 crore (Rs 51.2 billion) to Sebi in December 2012 towards the investor refunds as per Supreme Court orders.
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
Sebi on Thursday barred 45 entities, including actor Arshad Warsi, his wife Maria Goretti and others, from the securities market in cases related to manipulating the share prices of two companies through uploading misleading videos on YouTube channels. The cases pertains to uploading misleading videos on YouTube channels and recommending investors to buy the shares of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd. Apart from the couple, some of the promoters of Sadhna Broadcast have been restrained from the securities market for their involvement.
'Clients deemed higher-risk are required to update their KYC more frequently.'
Sebi says Sahara investors refunded over Rs 42 cr.
Companies, which missed out on listing earlier, are giving it another shot but with significantly-reduced issue sizes. In the recent past, companies such as TVS Supply Chain Solutions, Suraj Estate Developers, and ESAF Small Finance Bank have re-filed their draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (Sebi). This came after they slashed their issue sizes by 20-60 per cent.
The television channel is in hot water for not having made a public announcement in 2009 of a 'change of control' of the company.
Experts say the tighter share buyback norms will help ensure only companies with clean intentions come to the market.
The visit to Sebi office would comprise slide shows for students regarding the capital market and Sebi's role as its regulator, as also an interactive session to answer questions from students.
Drop in the number of schemes is less than 3%, despite merger of 38 schemes between Sept 2017 and May this year
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The Union Cabinet on Wednesday had approved the proposal to amend the Sebi Act and other relevant regulations that would give greater powers to the regulator in its efforts to tackle all kinds of money-collection schemes, as also to effectively crackdown on defaulters in the stock markets.
The proposed 'Investor Survey' would cover the entire country -- 29 states and 7 union territories -- and would have a sample size of approximately 50,000 households and 1000 market participants.
SEBI has published data showing that more than 90 per cent of investors lose money in futures and options, explains Harsh Roongta.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
The whistle-blower may strongly feel about the issues he had raised.. the regulator will follow the due legal process and decide, Balakrishnan said.
Besides, the regulator has decided to classify ESOP Trust as a separate group of shareholding entities.
58-year old Vinod Hingorani had defaulted on penalties of Rs 1.64 cr
Operational and compliance challenges foreseen for fund houses in deducting tax at source, resulting in possible TDS mismatches and disputes with investors.
Retail investors will soon have to obtain a net worth certificate from a chartered accountant and submit it to their broker, and their trading limits will be decided accordingly.
The regulator will conduct forensic audit of all the seized documents, laptops, and mobile phones, which are suspected to be involved in the fraudulent activity, reports Shrimi Choudhary.
Under Sebi guidelines, AIFs can operate broadly in three categories.
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