Page 119 - Sebi

Sebi issues guidelines to improve governance, preparedness of QRTAs

Capital markets regulator Sebi on Friday came out with guidelines to strengthen governance of qualified Registrars and Transfer Agents (QRTAs) for handling disruption and improving preparedness by conducting periodic drills. In its circular, the regulator has asked QRTAs to put in place a Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) in a bid to ensure continuity of operations and maintain data and transaction integrity. Apart from DRS, all QRTAs are required to have a Near Site (NS) to ensure zero data loss. Qualified RTAs -- RTAs having more than 2 crore folios -- are systemically important institutions as they provide the infrastructure necessary for the smooth and uninterrupted functioning of the securities market. As part of operational risk management, these QRTAs need to have a high level of resilience to provide essential facilities and perform systemically critical functions uninterruptedly in the securities market. The new guidelines are aimed at ...

Sebi speeds up NFO approval process; move comes as boost for newer players

Industry players said the pendency of applications has reduced drastically compared to last year. In several cases, NFOs have managed to obtain regulatory clearances in less than a month

Govt may divest 7% stake in Hudco, Torrent Pharma's promoters get exemption

Sebi has granted open offer exem­ption to the promoters of Torrent Pharma and Torrent Power

Trusts linked to Torrent Power, others from open offer conditions exempted

Regulator Sebi on Tuesday exempted four family trusts linked to promoters from making open offers to the shareholders of three companies -- Torrent Power, Torrent Pharmaceuticals and Gujarat Lease Financing -- following their proposed indirect share acquisition in these firms. The orders came after four Mehta Family Trusts filed applications with the regulator in July 2023, and sought exemption from certain provisions of takeover regulations. In order to facilitate succession planning, Sudhir Uttamlal Mehta and Samir Uttamlal Mehta created four trusts to streamline the family's shareholding in Torrent Investments Private Limited (TIPL). Under the proposed acquisitions, four acquirer trusts intended to acquire interest in the target companies -- Torrent Power, Torrent Pharmaceuticals and Gujarat Lease Financing -- indirectly from TIPL, one of the promoters of these firms, according to three separate orders by the Securities and Exchange Board of India (Sebi). The acquirer trusts pla

Investors can partner with India to participate in IMEEC: PM Modi

Prime Minister Narendra Modi on Tuesday said investors have an opportunity to partner with the country, and be a part of the India-Middle East-Europe Economic Corridor (IMEEC). Speaking after the inauguration of the Global Maritime India Summit here, Modi said India took the lead at the G-20 summit to form a consensus on the corridor. Very few countries are blessed with development, demography, democracy and demand, Modi said and invited global investors to be part of India's growth journey. He said whenever India's maritime capabilities have been strong in history, the country and the world have benefitted from it, and added that his government has been working to strengthen the maritime sector in the last 9-10 years. PM Modi inaugurated and laid foundation stones for port-related projects worth over Rs 18,800 crore at the third edition of the summit. He also launched the foundation stone for the Rs 4,539-crore Tuna Tekra all-weather deep-draft terminal at the Deendayal Port ...

Sberbank becomes first Russian bank to register with Sebi as FPI: NSDL

Joins five other from Russia to obtain FPI registration

InGovern Research Services writes to Sebi over TD Power IPO disclosures

Proxy firm says regulator should probe omissions of material facts and misstatements in 2011 IPO prospectus

Sebi refuses to stay securities market ban on Eros International Media

Sebi on Friday refused to lift the securities market ban imposed on Eros International Media Ltd and four others in an alleged fund diversion case. Further, an investigation by Sebi will be completed in six months in the matter, according to the order. Apart from Eros International, the ban from dealing in the securities market will continue on its Managing Director Sunil Arjan Lulla, Chief Executive Officer Pradeep Kumar Dwivedi and the two promoter entities -- Eros Worldwide FZ LLC and Eros Digital Private Ltd. Sebi, in an interim order in June, had prohibited these five entities from the securities markets in a case pertaining to the possible diversion of funds based on prima facie findings, and now, it has confirmed the ban against them. In its confirmatory order passed on Friday, Sebi said that "no cogent reasoning has been furnished by the noticees (the five entities) about the prima facie findings in the interim order, including the allegations of siphoning off funds to ...

Partners with 10% stake to come under beneficial owners: Sebi tweaks rules

Capital markets regulator Sebi on Friday tweaked guidelines pertaining to anti-money laundering standards, whereby partners holding a 10 per cent stake in a firm will come under the definition of beneficial owners. Earlier, the requirement was 15 per cent. The development comes after the government amended the Prevention of Money Laundering (Maintenance of Records) Rules or PMLA rules in September. In case the client is a partnership firm, the beneficial owner would be the one who has "ownership of/ entitlement to more than 10 per cent of capital or profits of the partnership or who exercises control through other means", Sebi said in its updated guidelines on anti-money laundering standards and combating the financing of terrorism obligations of securities market intermediaries. To ensure that the registered intermediaries properly discharge their legal obligations to report suspicious transactions to the authorities, the regulator said that the Principal Officer would be responsi

Sebi to auction 9 properties of Orion Industries, Rakhal Bharoti cos

Capital markets regulator Sebi on Friday said it will auction nine properties belonging to Orion Industries Ltd and Rakhal Bharoti group of companies to recover investors' money raised by these firms. The nine properties to be auctioned include land parcels located in West Bengal and Jharkhand. The total reserve price of these properties is pegged at around Rs 9 crore, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids for the sale of the properties in the recovery proceedings against Orion Industries Ltd and Rakhal Bharoti group of companies, along with their respective promoters and directors, Sebi said the auction will be conducted through online mode on November 20 from 10.30 am to 12.30 pm. Quikr Realty Ltd has been engaged by Sebi to assist it in the e-auction. Of the 9 properties to go under the hammer, seven belong to RB Group of companies, which comprises Rakhal Bharoti Fish and Food Processing Ltd and R B Horticulture and Animal Project Ltd,

Balanced hybrid funds: Mitigate risks and earn stable investment returns

Remember these funds have a limited track record currently; they will also not receive equity tax treatment

Market regulator Sebi slams AIF industry for circumvention of regulations

Sebi official did not disclose how widespread such practices are or whether the regulator has already begun enforcement action against them

Technical glitch in BSE prompts dealers, clients to shift trading to NSE

As per exchange officials, the technical issue was due to the internet service provider (ISP), and the issue was resolved by 9:30 am

Sebi extends time for investment advisers to comply with qualification rule

Capital markets regulator Sebi on Wednesday extended the timeline by two years till September 2025 for compliance with enhanced qualification and experience requirements for investment advisers. At present, individual investment advisers, principal officers of non-individual investment advisers, and persons with investment advisers and associated with the work, were required to comply with enhanced qualification and experience requirements by September 30, 2023. "Based on representations received from various stakeholders and in view of the emerging landscape of the domain of investment advice... it is now specified that the timeline to comply with the enhanced qualification and experience requirements.. is extended to September 30, 2025," Sebi said on a circular. BSE Administration & Supervision Ltd (BASL), a wholly-owned subsidiary of BSE, has been directed to bring the provisions of this circular to the notice of its members and also disseminate the same on its website. The ...

Sebi resolves over 3,700 complaints through SCORES in September

Sebi has disposed of 3,705 complaints against companies and market intermediaries through its online grievance redressal system SCORES in September, according to the data released by the regulator. As many as 17 complaints were pending for more than three months on SCORES as of September end, involving 12 entities such as Principal Mutual Fund and JM Financial Ltd. SCORES is a platform that allows investors to lodge their complaints online with Sebi related to the securities market against companies, intermediaries, and market infrastructure institutions. At the beginning of September, there were 4,707 complaints pending and 4,276 fresh complaints were received, as per the data released by Sebi on Tuesday. The regulator said that it had 5,259 pending actionable complaints as of September end, excluding 19 complaints that were under regulatory actions or legal proceedings. Further, Sebi noted that it had received 219 reviews of complaints. A complainant can request a review within

Sebi probing ties between Adani Group and Gulf Asia fund, says report

The fund has invested in several listed Adani firms, according to the OCCRP and data from investigative journalist group

Inclination towards small-cap must be seen with risks linked: Sebi WTM

The Sebi whole-time member also asked the MF industry to keep robust checks on its commissions for distributors to avoid a perverse incentive system or malpractices and missellings

Mufti brand owner Credo and RBZ Jewellers get Sebi's approval for IPOs

Credo Brands Marketing Ltd, which owns denim brand Mufti, and B2B and retail jewellery firm RBZ Jewellers Ltd have received approval from capital markets regulator Sebi to mobilise funds through initial public offerings (IPOs). RBZ Jewellers and Credo Brands, which filed draft papers with Sebi during June and July, obtained observations on September 28 and October 6, respectively, data with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi's parlance, its observation means its go-ahead to float the public issue. Going by the draft papers, Credo Brands' maiden public issue is entirely an offer for sale (OFS) of up to 1.96 crore shares by promoters and other existing shareholders. At present, promoters and promoter group members together hold over 67 per cent stake in Credo Brands Marketing. Bennett Coleman & Co, which made an investment of over Rs 9 crore for 9.72 per cent ownership, holds a 12.36 per cent stake in the company. Credo Brands Marketing is .

Centralised reporting makes claiming shares after investor's death easier

Procedure applies only to Sebi-regulated investments, not to bank accounts, insurance policies, other assets

Sebi extends timeline for confirmation or denial of market rumours

To streamline disclosure requirements, Sebi has notified new rules and extended the deadlines for mandatory confirmation or denial of market rumours by listed companies. This came after Securities and Exchange Board of India (Sebi), through a circular in late September, gave more time to listed companies to comply with the deadlines. The deadline to confirm, deny, or clarify any market rumour reported in the mainstream media has been extended to February 1, 2024 for top 100 listed companies by market capitalisation, as per the circular. Earlier, it was scheduled to come into force from October 1, this year. Similarly, for top 250 listed entities, the rule will kick in on August 1, 2024, instead of April 1, 2024. To give this effect, the regulator has amended the Listing Obligations and Disclosure Requirements (LODR) rules, according to a gazette notification issued on Monday. The rule is aimed at strengthening the corporate governance of listed entities, it said. Under the discl