Page 120 - Sebi

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

MCX shares hit record highs; Krystal Integrated Services files IPO papers

Krystal Family Holdings owns 100 per cent stake in the company

Bid to tarnish image by foreign entities: Adani Group ahead of SC hearing

Adani Group on Monday said some foreign entities are continuing orchestrated attacks by rehashing old and baseless allegations to drag down its market value and tarnish the conglomerate's image ahead of the Supreme Court hearing. The Supreme Court slated a hearing for this week on markets regulator SEBI's investigation into allegations of financial fraud and stock manipulation against Adani Group. The group has denied all allegations. Having failed earlier, a foreign publication is "making another effort to financially destabilise the Adani Group by raking up an old, baseless allegation of over-invoicing of coal imports," Adani Group said in a statement. It said the proposed story by the publication is based on the DRI's General Alert Circular dated March 30, 2016. However, the publication has "singled out the Adani Group, while the DRI's circular mentions as many as 40 importers including the Adani Group companies," the statement said. "This list not only includes some of India's

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

MCX gains 5%, hits record high on Sebi's nod to launch new trading platform

Approval from regulator remains positive for MCX as it will enable the launch of more products

Unified death reporting is the need of the hour

The white paper, when fully implemented, will improve the ease of living index considerably for the families of deceased investors

NSE, BSE eye core mkts with new launches as MCX awaits trading platform

As MCX manoeuvres the regulatory rigmarole over a new trading platform, its better-known rivals NSE and BSE, despite their relatively minuscule market share, are set to launch a major bid on Monday to enter the areas hitherto dominated by the country's largest commodity exchange. MCX (Multi Commodity Exchange of India Ltd) has been under the spotlight for a long time with regard to its transition to a new commodity trading platform from the one developed by its erstwhile promoter Financial Technologies India Ltd, now known as 63 Moons, that it has contracted to use till the year-end after repeated extensions. MCX announced last month that it will go live with the new platform developed by TCS from October 3, the implementation was put on hold soon after by the capital market regulator Sebi due to "technical issues" and in the wake of some pending legal matters. While the exchange has been holding mock trading sessions for the new software for quite a long time and will continue on .

MCX gets Sebi approval to launch new commodity derivatives platform

MCX had initially intended to introduce the CDP on October 3. However, they have not revealed the new launch date yet

Market regulator Sebi sets deposit norms for execution-only platforms

Entities already registered with the stock exchange under any of the segments will not have to pay the deposit again

Sebi extends dispatching period of hard copies of statements till Sept 2024

Capital markets regulator Sebi on Friday extended the relaxation to entities with listed non-convertible securities from dispatching physical copies of the financial statements to the holders of such securities till September 30, 2024. Earlier, the regulator had given similar relaxations to such entities till September 2023. Sebi's extension comes after the Ministry of Corporate Affairs last month provided similar relaxations to entities from dispatching physical copies of financial statements, including board's report, auditor's report or other documents. "Consequently, it has been decided to relax, up to September 30, 2024, the requirements of regulation 58 (1)(b) of the Sebi Listing Regulations," according to the circular issued by the markets regulator on Friday. Under the regulation 58 (1)(b) of the Sebi Listing Regulations, an entity with listed non-convertible securities will have to send a hard copy of statement containing the salient features of all the documents to those

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

SRM Contractors files draft papers with Sebi to mop-up funds via IPO

SRM Contractors Ltd has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an Initial Public Offering (IPO). The maiden public issue is entirely a fresh issue of 62 lakh equity shares, according to the Draft Red Herring Prospectus (DRHP). Proceeds of the issue will be used to purchase machinery, support working capital requirements, invest in joint venture projects, pay debt and for general corporate purposes. SRM Contractors is an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilisation works and other miscellaneous civil construction activities in the Union Territories of Jammu & Kashmir and Ladakh. Interactive Financial Services Ltd is the sole book running lead manager to the issue.

SAT quashes Sebi order against NDTV founders Prannoy, Radhika Roy

SAT overturned the order, stating that the information scrutinised by Sebi was not price-sensitive, and the Roys were not insiders

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

Securities Appellate Tribunal relief for Vedanta in Cairn buyback case

The Securities and Exchange Board of India (Sebi) had issued the order in May 2021 for allegedly flouting buyback regulations

Sebi to tell court Adani inquiry began 2014, but hit dead end: Reports

Sebi restarted investigations into the group this year after U.S.-based short-seller Hindenburg Research raised governance concerns - allegations Adani Group has denied

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

Greenwashing in India Inc: Environment scores create a sense of suspicion

Companies' disclosures should be verified by a single unit under Sebi to avoid disparity in methods

Unauthorised trading calls land investment advisors in Sebi's net

The analysis has considered 918 RIAs and 5,330 investor complaints