Page 27 - Sebi Norms

Sebi allows NRIs to own up to 100% in global funds at the GIFT City

Allows higher exposure to passive funds in group companies; increases NRI/OCI exposure to 100% if route via Gift City

Uco Bank aims to bring down govt stake to 75% this fiscal: MD Aswani Kumar

UCO Bank on Tuesday said it aims to reduce the government's stake in the bank from the current 95.39 per cent to 75 per cent in several tranches by fiscal 2024-25, to comply with the minimum public shareholding norms set by SEBI. The lender has time until August to comply with this but it hopes to receive a further extension, a top bank official said. Four other public sector banks have also laid out plans to pare down government holdings to meet SEBI regulations. "We don't need equity for growth as our capital adequacy is at 16.98 per cent. However, we must reduce the government's stake to 75 per cent to meet listing regulations, and we aim to do so within this fiscal year. The board has approved the issuance of 400 crore equity shares for this purpose. We will execute this in tranches," said UCO Bank MD & CEO Aswani Kumar. He said various options will be explored as issuance plans get firmer. "To comply, the issuance of 330-340 crore equity shares at Rs 10 each would have been .

Sebi asks NSE to evaluate Linde India's related party transactions

Markets regulator Sebi has asked the National Stock Exchange (NSE) to designate a valuer to conduct the valuation of related party transactions between Linde India and Praxair India following complaints by shareholders. The matter relates to various transactions and agreements by Linde India Ltd (LIL) with its related parties Praxair India Pvt Ltd (PIPL) and Linde South Asia Services Pvt Ltd (LSASPL). Sebi investigated the case after receiving multiple complaints alleging that transactions and agreements entered by Linde India with Praxair India were in the nature of material related party transactions (RPTs) and Linde India did not obtain shareholders' approvals on these transactions. In its interim order passed on Monday, Sebi noted that Linde India was executing "related party transactions which prima facie appear to be material, without taking shareholder approval. Such actions effectively deprive public shareholders of an opportunity to express their views on transactions which

Why is BSE exchange upset about new Sebi order? An Explainer

The Bombay Stock Exchange will need to pay a higher regulatory fee to the market regulator on complying with Sebi's direction on fee based on notional value. Here's all you need to know.

BSE tanks 19% on Sebi's diktat on turnover charges on option volume

BSE stock update: BSE stock nosedives on the NSE after Sebi directs the stock exchange to pay a regulatory fee on the 'notional value' of annual turnover.

12 offshore funds investing in Adani Group breached disclosure rules: Sebi

Sebi has issued notices to 12 offshore investors earlier this year associated with the Adani group, seeking clarification on the violations of disclosure requirements and investment limits

Are MF stress tests of any use?

These are usually found among small and midcaps. It is not easy to find such stocks, especially after a strong bull market

Sebi proposes special call auction for price discovery of holdcos

Move aims to address deep discounts at which these investment companies trade

LEEL case: Sebi slaps Rs 14 cr fine on 7 individuals for accounts fraud

Markets regulator Sebi on Thursday slapped fines amounting to Rs 14.2 crore on LEEL Electricals' promoter Bharat Raj Punj and its six former officials and barred them from the securities markets for up to five years in a case of malpractices and manipulations in the company's accounts. Also, they have been barred from being associated with any listed company or any registered intermediary, in any capacity, including as a director for three years. The seven individuals penalised by Sebi are Anita Kakar Sharma, who was compliance officer and Vice President (Finance) between April 2006 and December 2018 at LEEL. Achin Kumar Roy, Nipun Singhal, and Mukat Behari Sharma were whole-time members and CFO of LEEL from September 2007 to April 2019. Achin and Mukat were members of the auditing committee between 2007 and 2014. In addition, Surjit Krishan Sharma, Geeta Tekchand were the independent directors of LEEL from January 2005 to July 2019, and Bharat Raj Punj, a promoter of the ...

Beat valuation risk in smallcap funds with limited exposure, long horizon

While past-year returns have been high, these funds are prone to significant drawdowns in tough economic environments

Sebi should not become SBI, must complete Adani probe before polls: Cong

The Congress on Wednesday hoped that the SEBI tasked with probing charges of alleged stock manipulation by the Adani Group would not seek further extension for presenting its report in the Supreme Court to push the deadline past the election date. Congress general secretary Jairam Ramesh said the Securities and Exchange Board of India (SEBI) should not become another SBI, which is "too scared to touch the sacred". In a post on X, Ramesh said the Hindenburg Research had levelled grave allegations of stock manipulation and violation of securities laws on the Modani group last year. The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. Ramesh said, "The SEBI was tasked with submitting a report on these allegations by 14th August, 2023. After it demanded repeated extensions, the Supreme Court gave SEBI time till today, April 3rd, 2024. "We look forward to the SEBI submitting its report to the Court today, and we hope it does

Small cap companies set to erase losses sparked by froth warnings

A eight-day rally has put the Nifty Smallcap 250 Index on course for reclaiming the Feb. 27 level when the securities regulator flagged the risk of a potential bubble in the smaller companies

Long-duration funds: 6-12 months for tactical, 10+ years for long term

Those with a medium-term horizon run the risk of getting caught in a rising rate cycle

Our small, midcap portfolios haven't participated in the rally: Marcellus

Given the macroeconomic strengths, the market is pricing in a reasonable earnings growth and hence justifying current valuations, Pramod Gubbi of Marcellus Investment Managers said in this interview

Sebi directs mutual funds to stop inflows into ETF-based overseas schemes

Sebi and some of the MFs have made representations to the Reserve Bank of India (RBI) seeking new limits but the central bank is yet to take a call

T+0 settlement beta version from next week, Sebi issues guidelines

The new framework will come into force from March 28

Democratising equity market is all about digitisation, says Sebi chief Buch

Over the next 10 to 15 years, the REIT, INVIT and muni bond market will be as large as our equity markets, says Buch

Front running case: LIC fires employee banned by Sebi from stock market

Markets regulator Sebi had last year found that a dealer in LIC, was in possession of non-public information regarding impending orders of LIC and acted as an information carrier

Redemption risks

Stress tests highlight risks in smallcaps

Market regulator Sebi plans to boost municipal bond participation via ARCL

ARCL is a settlement and clearing provider for the tri-party repo, backed by Sebi and funded by asset management companies, launched last year to provide a common platform for market participants