Reliance Petroinvestments, a subsidiary of Mukesh Ambani-led Reliance Industries Ltd (RIL), has approached the Securities Appellate Tribunal against the capital markets regulator, which imposed a Rs 11-crore (Rs 110 million) penalty on the company in the Indian Petrochemicals Corp Ltd (IPCL) insider trading case.
Chandrasekhar Bhaskar Bhave has always tried to avoid controversy, but that's something that has followed him like a shadow in the last three years of his professional career.
RBI banned banks from proprietary trading and Sebi doubled the margin requirement on the domestic dollar-rupee forward trade.
The Technical Advisory Committee, to be headed by IIT Bangalore Professor S Sadagopan, would also advice the Sebi on how to frame appropriate policies arising out of technological advancements in areas like wireless trading, algorithmic trading and smart order routing, Sebi said.
The sectoral regulator Irda on Wednesday said the initial public float guidelines for the insurance industry will be ready by early October.
Several life insurance companies in the country are preparing to take on the markets regulator Securities and Exchange Board of India over unit-linked insurance plans.
The Sebi, on Friday, banned 14 life insurance companies, including Reliance Life, SBI Life, ICICI Prudential, Tata AIG and HDFC Standard Life, from raising fresh money in ULIP schemes that invests a major chunk of funds in stock markets.
The Securities and Exchange Board of India, the capital markets regulator, restrained 14 insurance entities from raising fresh money through Ulips - Unit Linked Insurance Products.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
The Securities Appellate Tribunal on Monday dismissed Karvy Consultants' appeal against the Sebi order barring it from opening fresh demat accounts.
Sahara also sought permission to sell its properties in Bangalore.
After hearing the petition, filed by the country's largest real estate developer last week, the Tribunal adjourned the matter till October 30 next week, as it sought a response from capital markets regulator Securities and Exchange Board of India on DLF's plea for an interim relief.
The move, which requires approvals from the finance ministry and the Reserve Bank, will ensure that managements do not gain undue control over companies.
According to the Sebi circular, commodities that require price control measures will be less conducive for the derivatives market.
Insurance and investment are two different needs. Then, there are Ulip pension plans with no sum assured. No wonder, there is confusion.
Sebi has done a good job on regulating mutual funds so Sebi's move to regulate ULIPs may be a blessing in disguise for ULIP investors.
The exchange has also ordered freezing of the entire promoter shareholding of these companies till further notice
Sebi's plea for such powers has been endorsed by the finance ministry.
Insider trading -- dealing in securities with prior access to unpublished price-sensitive information -- has been attracting regulatory attention worldwide.
The Bombay Stock Exchange (BSE) has slapped fines on 530 listed companies for failing to meet a deadline to appoint a women director and boost gender diversity in their boardrooms.
A day after the finance ministry brokered a truce between two financial sector regulators, Sebi on Tuesday said any new ULIP scheme launched after April 9, 2010 by insurance companies will remain covered by its earlier ban order.
The airline has struggled to pay salaries and vendors on time and its Rs 10,963 crore fund and non fund based facilities have now been assigned 'D' rating by ICRA - the seventh rating downgrade since March 2017.
Strengthening of rules governing insider trading is among the key proposals in the agenda set by Sebi for 2018-19, along with making improvement to the Prohibition of Insider Trading Regulations (PIT) and Prohibition of Fraudulent and Unfair Trade Practices regulations.
Of 194 entities thrown off the exchange, BSE doesn't have promoter names or addresses for 168 firms; yet it has ordered all promoters to buy back shares
The Sebi board, which met on Monday, however accepted the recommendations of a committee that had G Mohan Gopal, director of National Judicial Academy in Bhopal, and the then RBI deputy governor, V Leeladhar, in a third case where no adverse remarks had been made on Sebi's role.
DEA officials to push for this at a meeting with FM Jaitley.
The Sebi's 'recent directive to reduce the time between the closure of an IPO and its listing to 12 days from 22 will lead to interest savings of approximately Rs 800 crore annually for the retail and high net worth individual investors,' the study said.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
For the June quarter, sales for DLF were down 25 per cent at Rs 1,725 crore (Rs 17.25 billion) over the same quarter a year earlier.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
Set to get powers like those enjoyed by a civil court; will be able to attach assets, file winding-up applications.
Asset management companies have been told not to deal with non-compliant intermediaries. They are to report such cases to the Association of Mutual Funds in India (Amfi) and Sebi.
Priorities include the amendments of the Companies Act and the Motor Vehicle Act
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
The regulator had introduced trading plans to provide an opportunity for those holding possible insider information to legitimately trade, without violating insider trading regulations
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Senior advocate Kapil Sibal, representing Roy, said it was quite difficult to raise money as the properties have already been attached.
The agency, which looks into white collar crimes and violations of companies law, investigated more than 60 companies in this regard.
The state-run mining giant NMDC on Monday filed the draft prospectus with the market regulator Sebi for its follow-on public offer, through which the government expects to mop up Rs 20,000 crore (Rs 200 billion).
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
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