More properties are expected to go under the hammer in the coming days.
Major realty firms, including Emaar MGF and Sahara, on Tuesday approached market regulator Sebi for public offerings to raise collectively an over Rs 11,000 crore (Rs 110 billion), reflecting that sector has emerged from the worst of the global financial crisis.
"We had two meetings with the Sebi and couple of more is required (to decide on final guideline on IPO)," IRDA chairman J Hari Narayan said at a CII event.
The lock-in requirement has been reduced from three years to one year for angel funds and their minimum investment threshold has been slashed from Rs 50 lakh to Rs 25 lakh.
Lack of closure to the algo controversy could weigh on sentiment, say experts
The committee said that promoters will have to make mandatory disclosures when they raise finances by pledging their shares. This is because lenders ask promoters to pay additional margins when the value of the shares pledged as collateral falls.
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
The watchdog has called for applications for the post of deputy legal adviser(s) to strengthen its legal team, tighten regulations and take enforcement actions. According to the Sebi Annual Report, 3,656 cases were pending for Enforcement Actions as on March 31. Last year, the market regulator had introduced the 'Consent Order' scheme with 350 Consent Orders already having been passed.
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
The Delhi Stock Exchange, which was closed around eight years back due to a variety of reasons, will re-start operations in the next two months.
May bar premature withdrawals from fixed maturity plans.
An effective settlements system has helped Indian stock markets face the challenges posed by the global financial meltdown, the Sebi chairman said on Wednesday.
The regulator said the amendment to the Sebi (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, provides for 'relaxation from the strict compliance of provisions of Chapter-III in certain cases.' Chapter-III deals with mandatory open offer if an entity acquires 15 per cent stake in a company, as also for acquisition or change of control of the company, among others.
The Sebi Act deals with securities and the definition of securities, according to the Securities Contracts Act, doesn't include commodities.
Security and Exchange Board of India Chairman C B Bhave and representatives from the Reserve Bank and Corporate Affairs Ministry are likely to brief parliamentary standing committee on finance about the latest developments in the Satyam fraud case, at a meeting called on Wednesday to discuss the issue.
The Andhra Pradesh police, which arrested Raju and his brother Rama Raju on different charges including forgery and cheating on Friday night, said that the Sebi team would have to file a request with the Economic Offences Court to interrogate the two.
It said the amendments to the Sebi Act will facilitate utilising the services of officials appointed members of SAT as normally retired people join the body.
"We don't really have evidence that short-sellers are driving the market down," Sebi Chairman, C B Bhave, told reporters on the sidelines of a conference. The Sebi chairman said that though some western markets had banned short-selling, their markets had continued to decline further. "Their (financial) institutions failed one after another. Some of them have re-started short-selling in their markets," Bhave said.
Under Sebi guidelines, AIFs can operate broadly in three categories.
The Securities and Exchange Board of India is keeping a close watch on the movements in the stock prices at the Bombay Stock Exchange and the National Stock Exchange, which hit the upper circuit halting the trade for the day, a senior finance ministry official said.
Satyam Computer's potential suitor may get to control the IT company at an affordable price, with market regulator Sebi on Monday saying it would amend regulations governing open offer to ensure transparent pricing.
Lawyers said that assets are being sold and the group is depositing the money with Sebi.
Earlier, the top court said it had been "taken for a ride" by the Sahara group by its past conduct and asked it to submit a roadmap for paying the balance amount
'The ability to tailor schemes to market conditions and invest in unlisted equity and real estate, as well as commodities, makes Alternative Investment Funds a sought after platform.'
The Sebi chairman had started a series of meetings in New Delhi from Saturday when he met corporate affairs minister Prem Chand Gupta and his secretary Anurag Goel.
By giving himself over to the police, Satyam Computer's former chairman B Ramalinga Raju may have pre-empted an extradition to the United States, where several lawsuits have been filed against him, says a section of legal experts.
Ramalinga Raju's lawyer S Bharat Kumar told the media after his meeting with the Sebi officials that he had sought three day's time for Raju's appearance but they granted time only till tomorrow
The team first went to Raju's house for an inspection, but returned on finding it locked. It had earlier issued summons for him to appear before the team.
A Securities and Exchange Board of India (SEBI) team probing a financial fraud in Satyam Computer on Friday reached founder Ramaling Raju's house here, but returned as the premises was locked.
What is the solution to problems like this? It is probably not more intrusive government regulation. Despite the noises being made in America blaming all finance-sector problems on a lax regulatory environment, it is not clear that more paperwork is the answer.
"This decision of removing initial issue expense will make close-ended mutual fund schemes less expensive for retail investors", Sebi chairman M Damodaran said while briefing reporters after the board meeting. The Sebi board also cleared the draft proposal for listing of debt securities, ease disclosure norms for existing debt market securities and paved the way for permanent registration of capital market intermediaries.
To safeguard investors of firms listed on non-operational bourses, market regulator Sebi on Monday allowed such companies to raise capital through preferential allotment route to meet listing requirements.
Infosys, in April, had said that it will pay up to Rs 13,000 crore to shareholders during the current financial year through dividend and/or share buyback.
Eonour Technologies Ltd said Chennai High Court put an interim stay on the Sebi order restraining the company from dealing in securities for three years.
Satyam Computer Services Limited has commenced a competitive bidding process, which contemplates the selection of an investor to acquire a 51 per cent equity interest in the troubled IT services company.
In a memorandum to Securities and Exchange Board of India on the proposed amendments to the Sebi (Prohibition of Insider Trading) Regulations, 1992, Ficci, while welcoming the proposal that the regulations should not freeze legitimate trading by the specified persons, feels that the management of a company should be authorised to decide and create window freeze.
Eleven years on, while 80% of scam-hit investors have been fully compensated, more than 50% of the sum is yet to be distributed.
The Securities and Exchange Board of India (Sebi) on Wednesday said short-selling and securities lending and borrowing will be operationalised from April 21.Short-selling refers to the practice of selling a stock which the seller does not own at the time of trade with the hope of buying it back at a lower price.
In July, the company announced its buyback plans at a maximum price of Rs 600 a share. DLF will buy a maximum of 22 million shares, or 11 per cent, of the 202 million shares held by the public. On October 1, the DLF board approved the company's announcement on buyback of shares.
Sebi had barred Ritesh Polyester and its promoters -- Ritesh Exports, Surendra Kumar Agarwal and his wife Roop Rekha Agarwal and their minor sons Ritesh and Deepak -- from operating in the capital market for a period of 10 years for violating the Sebi Act and Sebi (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 1995.
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