The Sebi intends to introduce the Application Supported by Blocked Amount, which will require retail investors bidding at a cut-off price, to apply through self-certified syndicate banks in which they have accounts.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
The Securities & Exchange Board of India has decided to conduct a survey to find out why investors are staying away from the securities market. This is the first time that the market regulator is planning such a survey of investors.
The exchanges have put in place systems which generate alerts on company-specific news in the media. And, then follow up with companies to verify the news.
The Budget will focus on Gujarat's GIFT City.
The Sebi board, which met in Chennai, approved introduction of these new derivative products based on the interim recommendations made by a committee on derivatives headed by M Rammohan Rao. The new products will relate to mini-contracts on equity indices, options with longer life/tenures, volatility index and F&O (futures & options) contracts, options on futures, bond indices and F&O contracts.
The NSE Nifty ended at 3,606, up 4 points. The market breadth was fairly negative - out of 2,682 stocks traded, 1,820 declined, 789 advanced and 73 were unchanged.
Though the agency did not include former Sebi chief CB Bhave and ex-member KM Abraham in the case, it recommended departmental action against the two.
The BSE and the NSE have also been asked to provide inputs.
Out of the 24 IPOs, 20 companies had anchor investors, which collectively subscribed to 31 per cent of the total public issue amount.
FIPB had taken up these three proposals in its meeting in August, but the decision on them was kept in abeyance.
Reliance Power's exemption demands prompt move.
The Securities and Exchange Board of India plans to reduce the time between the close of initial public offerings and their listing to lessen scope for price manipulation, Chairman C B Bhave told reporters following his first board meeting after taking charge.
Sebi Chairman U K Sinha has often chastised listed companies for not having enough women on their boards.
The Sebi think-tank is of the view that more and more sophisticated products should be available onshore to ensure that Indian capital markets attract different categories of investors, even while it wants to discourage all kinds of offshore products based on Indian stocks and derivatives, according to sources. Proposals for allowing short-selling in cash markets and stock lending and borrowing for institutional investors have been pending for some time.
C B Bhave, chairman and managing director of National Securities Depository Ltd (NSDL), is believed to be leading the race for the sixth chairman of the Securities and Exchange Board of India (Sebi).
The Bombay Stock Exchange (BSE) is looking at picking up stakes in regional exchanges, which have to demutualise by August-September 2007.
With pressure mounting on 18 regional exchanges to demutualise, some bourses have decided to shut shop, while others are going in for demutualisation - leading to an eventual consolidation.
Regulators in the US and some other countries have often used tapped phone conversations to prove insider trading and other charges, including in the famous Rajat Gupta case.
An interview with Sebi chief M Damodaran.
Our advice to investors is that they should adhere to the basics of mutual fund investing and evaluate mutual funds across parameters, including past performance.
Financial institutions are facing a Herculean task in convincing their nominee directors not to exercise the employee stock options granted to them
The government said on Tuesday it has advised capital market regulator Securities and Exchange Board of India to make regulations for investment advisors.
An efficient debt-recovery would make a huge difference to the banking sector's performance. It is time we simplified the legal processes.
With the commodities market growing in leaps and bounds, the prospects of agriculture students are very bright.
Commenting on the market regulator's decision, Managing Director of Kotak Investment Banking, Falguni Nayar said she believes that short-selling will create liquidity and deepen the market.
It is important to nominate a successor to mutual fund investments as it helps smoothen the transfer of funds in case the original investor passes away
"The CPI(M) is of the firm opinion that PNs should be prohibited, as has been recommended by the RBI," a statement issued by the CPI (M) Politburo said, coinciding with the market meltdown on the SEBI's proposals to curb such offshore derivatives. The CPI (M) said massive pull-out of funds which induced a huge fall in the market reflected defiance of regulatory institutions by the FIIs.
Over 270 applications from foreign institutional investors (FIIs) are awaiting the Securities and Exchange Board of India's (Sebi) clearance as the debate on the speedy clearance of registrations by the capital market regulator rages on. In fact, during the last one year, the Sebi has cleared a total of 141 applications, an average of about 12 registrations a month.
Market regulator Securities and Exchange Board of India is expected to soon allow trading of securitised debt instruments or certificates on stock exchanges, a move that will give a boost to the country's debt market.
The move is aimed at helping investors get a clearer picture on returns from the investments made by them
The Sebi order clears the hurdles ahead of the mega IPO of $2.5 billion to $3 billion, which is expected to hit the markets early next year.
Anita would be additional director in a non-executive and non-independent role.
The government said on Friday the Securities and Exchange Board of India is keeping a constant vigil on the market.
Could address the concerns over Companies Act provision on the issue
A Sebi spokesperson did not respond to an email seeking comments.
While auditors have come in for a lot of praise for their proactive stand against what they perceive to be dodgy practices followed by companies, there is still a long way to go, says Shyamal Majumdar.
The Supreme Court asked on Thursday market regulator Securities and Exchange Board of India and some stock brokers to file written submissions in a case relating to modification of penalty imposed on intermediaries.
While our 2007-08 macro forecasts have factored in a rate cut as well as a CRR hike, the timing is uncertain as the RBI may wish to see the impact of the Sebi P-Note proposals on dollar inflows. In any case, the RBI is flexible and has been effecting inter-policy measures. Policy rates are headed lower, but reserve requirements would be higher: With forex reserves up $57 billion in this financial year and the rupee gaining 9 per cent since April 2007.
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