Page 32 - Sebi Norms

Krystal Integrated Services files IPO papers with Sebi to mobilise funds

Krystal Integrated Services has filed preliminary papers with Sebi to mobilise funds through an initial public offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 175 crore and an offer-for-sale (OFS) of 17.5 lakh shares by promoter Krystal Family Holdings Pvt Ltd, according to the draft red herring prospectus (DRHP) uploaded on Sebi's website last week. Krystal Family Holdings owns 100 per cent stake in the company. Proceeds from the fresh issue will be utilised for debt payment, supporting working capital requirements, fund capital expenditure for purchase of new machinery and for general corporate purposes. Krystal is a leading integrated facilities management services company with a focus on healthcare, education, public administration, airports, railways and metro infrastructure, and retail sectors. Also, it provides staffing solutions and payroll management to customers, as well as private security and manned guarding services and catering services. I

Sebi asks brokers functioning in EOP to maintain minimum capital deposit

Capital markets regulator Sebi on Friday asked stock brokers functioning only in the Execution Only Platforms (EOP) segment to maintain a sum of Rs 10 lakh with the bourse as a base minimum capital deposit. The EOP is a digital or online platform which allows transactions in direct plans of mutual funds without the help of distributors. Under the rule, an entity desirous of providing execution-only services in direct plans of mutual funds can obtain registration under either of the two categories -- category 1 EOP as an agent of asset management companies registered with industry body Association of Mutual Funds in India (AMFI) or category 2 EOP as an agent of investor, registered as a stock broker. "It has been decided that the members of stock exchanges functioning only in EOP segment (Category 2 EOP) shall maintain a sum of Rs 10 lakh with the stock exchange as BMC (base minimum capital) deposit," the regulator said in a circular. However, for members having registration of more

Sebi slaps Rs 55 lakh penalty on 11 entities for non-genuine trades

Capital markets regulator Sebi on Thursday slapped penalties totalling Rs 55 lakh on 11 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE. In 11 separate orders, the regulator slapped a fine of Rs 5 lakh each on Sanjay Kumar Agarwal HUF, Manoj Agrawal, Kanta Didwania, Harish Chandra Baldewa, Daksha Kirit Patel, Bestway Dealcom, Ziya Merchandise, S K Agarwal, and Sons HUF, Sumit Agarwal, Spectrum Technoprojects Pvt Ltd, and Sanjeev Mittal HUF. The orders came after the regulator observed large-scale reversal trades in the illiquid stock options segment on the BSE, leading to artificial volumes on the exchange. The Securities and Exchange Board of India (Sebi) conducted an investigation into trading activities of certain entities engaged in the segment from April 2014 to September 2015. The entities to be fined were among those who indulged in reversal trades. Reversal trades are non-genuine as they are executed in the normal course of trading

One in three Indian investment advisors are not registered, says Sebi

The comments from Buch, the first woman to head India's markets regulator, come as the south Asian country continues to see an unprecedented retail investing boom

Sebi forms Working Groups to recommend simplification, ease of compliance

Capital markets regulator Sebi on Wednesday said it has constituted Working Groups to recommend on simplification of various rules, ease of compliance, and reduction in the cost of compliance. Also, the regulator has sought suggestions from public and regulated entities till November 6 towards simplifying the rules. The move came following an announcement made in the Union Budget for FY 2023-24. In a statement, the regulator said it has formed Working Groups to recommend simplification of various Sebi rules. "The Working Groups will also look into the compliance requirements to enhance ease of compliance and reduction in the cost of compliance," the Securities and Exchange Board of India (Sebi) said. At present, 16 Working Groups, under the aegis of its standing advisory committees, are reviewing compliance requirements under various Sebi rules applicable for entities, including listed companies, mutual funds, stock brokers, alternative investment funds, REITs (real estate investm

Sebi penalises YES Securities for wrong reporting of margin, discrepancies

Capital markets regulator Sebi has imposed a penalty of Rs 5 lakh on YES Securities (India) Ltd for wrong reporting of margin and discrepancy in the computation of client's net worth. It has been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. The order came after Sebi, jointly with the Stock exchanges -- NSE, BSE and MCX -- conducted inspection of documents and other records of YES Securities (India) Ltd to verify the possible violation of stock brokers' rule. In its order, Sebi found several violations, including wrong reporting of margin and discrepancy in reporting of net worth of clients by YES Securities, during July 2021 to March 2022. The regulator said the brokerage house sent the retention statements after the prescribed time of five days and also mailed the statements of accounts to wrong email addresses. Further, it was found that the brokerage house had projected a wrong reporting margin of Rs 2,083. In ..

Sebi examining proposal for extended derivative trading hours: Report

Sebi is assessing whether the extended hours will fuel already high derivative trading volumes and if the trade settlements will be smooth, one source said

Sebi extends deadline demat a/c nomination; SBI MF promotes DP Singh

In March, the regulator had extended the deadline from March 31 to September 30

Boards: Navigating regulation and reality

As governance regulations evolve, the task of building a board that truly serves a company's needs is going to become more challenging

Sebi removes penalties on cos unable to meet mandatory bond mkt borrowing

The regulator said it would grant more flexibility to large companies for incremental borrowing via bonds

Sebi slaps Rs 65 lakh fine on 13 firms for indulging in non-genuine trades

Capital markets regulator Sebi has imposed Rs 65 lakh fine on 13 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE. In 13 separate orders on Wednesday, the regulator slapped a fine of Rs 5 lakh each on Kalyan Devi Bothra, Kalpesh Udani HUF, Kallol Kutir Pvt Ltd, Jyotiben Prakashkumar Shah, Jyoti Patawari, Jyoti Kariwala, Jupiter Industries and Jugmug Sales Pvt Ltd. The other entities to be fined by Sebi were Jitendra Rameshbhai Patel, Jugal Kishore Gupta, Kajal Agarwal, JIT Finance Pvt Ltd and Jayshriben Dhirendrakumar Maniar. The order came after the regulator observed large-scale reversal trades in the illiquid stock options segment on the BSE, leading to artificial volumes on the exchange. Further, the regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. The entities to be fined were among those who indulged in reversal trades, Sebi said. Reversal t

Rearview mirror investing can be perilous in floating-rate funds

Investors should opt for them when rates are expected to climb, not now when they are largely over

Securities Appellate Tribunal defers Zee-Sebi matter to September 13

The confirmatory order passed by Sebi chief Madhabi Puri Buch barred Goenka from holding any key managerial positions in the Zee group of companies

Groww Mutual Fund receives Sebi approval to launch its first index fund

Groww has received the approval of the Securities and Exchange Board of India to launch its first index fund - Groww Nifty Total Markets Index Fund - through new fund offering

Stock brokers upset over strict penalties, meet NSE, Sebi officials

A senior official at one of the broker firms said that the penalties have had a severe effect on the brokers as they struggle to survive in the fiercely competitive financial landscape

Sebi brings new format for abridged prospectus for debt securities

Capital markets regulator Sebi on Monday came out with a new format for abridged prospectus for public issuance of non-convertible debt securities wherein critical information will be provided on the front page of the offer document. Besides, the issuer or merchant bankers concerned should include a Quick Response (QR) code so that the prospectus can be accessed on scanning the code. The format has been revised to further simplify and provide greater clarity and consistency in the disclosures across various documents, the Securities and Exchange Board of India (Sebi) said in a circular. The new format will be applicable for all public issues opening on or after October 1, 2023. Under the rules, no form of application for the purchase of securities of a company will be issued unless such a form is accompanied by an abridged prospectus. As per the revised format, an issuer will have to disclose the name as a type of instrument, base size, face value, the option to retain ...

Market regulator Sebi announces new disclosures for select offshore funds

India's market regulator on Thursday notified select offshore funds fulfilling certain conditions of new enhanced disclosure requirements, according to a circular on Sebi website

Stricter disclosure norms for FPIs will come into effect from Nov 1: Sebi

Granular data required for 50% single group exposure; Rs 25,000 cr AUM

Brightcom Group hits 5% lower circuit on Sebi crackdown

The market regulator, alleged that the funds raised via preferential issue of shares that were meant to be given as loans and advances to its subsidiaries appeared to be overstated

Sebi's new disclosure rule escalates rift at Bengaluru-based TD Power

In a letter to Sebi, Vijay Kirloskar accuses co of inadequate disclosure of shareholder pact