In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
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.
'IPOs not clicking is cause for worry,' says Sebi chairman.
The board of directors will review the position of Vijay Mallya, under self-exile in Britain, at its next meeting on August 12.
The matter pertains to the Rs 173.8 million severance offer given to former CFO Rajiv Bansal in October 2015 when he was allegedly forced to step down due to differences with then chief executive Vishal Sikka over the acquisition of Israeli technology firm Panaya for $200 million.
The new powers are aimed at making Sebi more effective in protecting investor interest and helping it to better regulate the market.
The big thing was inflating the revenue of the company through fake invoices.
The Securities and Exchange Board of India is conducting inspection of stockbrokers, who act as depository participants (DPs) and are also into margin-funding business, as there have been instances of client-account mismanagement.
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.
The policy aims to create around 5,000 startups, including 10 global high-growth startups, and to create a minimum of 100,000 high skilled job creation, direct and indirect, in the startup ecosystem by 2023.
To get same tax treatment as FIIs; rules on search & seizure and consent settlement cleared
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.
Based on a petition filed by two individual investors, the court on April 25, issued interim 'status quo' orders on the merger process.
The PMS manager can only charge performance fee to investors if the fund has crossed its highest value as on the day when the fee is supposed to be charged.
The group also lauded 'Sebi's active cooperation' in the matter.
The decline could be attributed to several measures taken by the market watchdog to stop the misuse of the controversy-ridden participatory notes.
The contribution 'appeal' was made through a one-page letter signed by directors of a hitherto unknown society and 'associates' of the group. Company officials, however, disowned any connection with the appeal.
C B Bhave, chairman of the Securities and Exchange Board of India, said on Monday that the 40 per cent limit on investment through offshore derivative instruments, or Participatory Notes, will be removed.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
Of the total investments made last month, P-note holdings in equities were at Rs 61,786 crore and the remaining in debt and derivatives markets.
Legal hurdle cited in I-T action against 32,000 entities.
Private carrier Jet Airways is re-working a comprehensive profitability plan sought by its foreign partner Etihad Airways, which completed a 24 per cent stake purchase in the Naresh Goyal-led carrier recently.
Soon after the BJP lost the 2004 election, the stockmarkets went into unprecedented free fall. Then SEBI Chairman G N Bajpai reveals how his firm handling of the situation restored confidence and soon the markets were back to doing what they do best -- make money. A revealing excerpt from his book, A Game Changer's Memoir.
A total of 180 NSE-listed companies have not appointed a woman director.
Investing in ETFs is similar to buying and selling shares on exchanges through your trading account, points out Ashwani Bhatia, MD and CEO, SBI Mutual Fund.
The searches follow a probe into circulation of unpublished price sensitive information about various listed companies, including some blue chips, through WhatsApp messages and social media chatrooms.
Pitching for greater transparency in rule-making and other functions of regulators, Finance Minister Arun Jaitley has asked Sebi to work towards attracting more retail investors to the capital markets.
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Sebi on Monday decided to declare illegal mobilisation of funds as a "fraudulent and unfair trade practice".
Sebi has scrapped the fee for initial issue of close-ended MF schemes.
IPO-bound market infrastructure institutions like bourses have to ensure that every shareholder is 'fit and proper'.
The benchmark indices fell as Sebi cracked down on 331 suspected shell companies listed on exchanges.
Of the total investments made last month, P-note holdings in equities were at Rs 72,321 crore and the remaining in debt and derivatives markets.
Most of the PN money is coming into stocks that are not in the blue-chip category. This means the source of the money is questionable and the investments are not driven by fundamentals.
'We will have to get together internally and figure how this will happen.' 'Suffice to say, it is feasible and will be done in a logical way.'
Sebi also approved new delisting rules.
Sebi said Thapar-promoted and -related entities owed Rs 1,723.19 crore as receivables to the company, while connected parties owed another Rs 462.74 crore.
Moving towards a common Know Your Client framework for the entire securities market, Sebi today simplified investor account opening form by doing away with details about income and occupation of the applicant.
After the rationalisation and categorisation of mutual fund schemes undertaken by the Sebi in October 2017, overnight funds have emerged as a distinct category.
'We have integrated start-up space created in almost all the 14 district headquarters of the state.'
'They have incubation facilities providing entrepreneurs common facilities like shared software, legal support, fab labs, hardware, manufacturing facilities and services like chartered accounting facilities, etc, enabling the start-ups to concentrate on technology R&D and product development.'
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