Page 122 - Sebi

Cong alleges Sebi 'reluctant' to probe allegations against Adani group

The Congress on Wednesday alleged that the SEBI is "reluctant" to investigate the allegations against the Adani group and said the only way forward is a joint parliamentary committee probe to bring out the truth. Congress general secretary Jairam Ramesh cited a media report to say that the "stench of illegality" around another Adani-linked shell company - Opal Investment - is getting stronger. He claimed there are "fresh revelations" that the firm, which controls Rs 8,000 crore worth of equity in Adani Power, was set up as a single person company in Dubai in May 2019. "This raises several serious questions. How does a single-person firm based in Dubai come to control 4.7% of equity worth Rs 8,000 crore in Adani Power, India's largest private power generation firm? Is Opal not yet another Adani front engaged in illegal round-tripping and blatantly violating Indian securities laws," he asked in a post on X. "And why is it doing so, whose funds are these actually? What are PM Modi's .

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

MCA in talks with market regulator Sebi to allow issue of fractional shares

The senior official said that Sebi has views on this issue since it impacts the listed companies and will soon be making a presentation to MCA on the matter

Extended market benefits

Longer trading hours to help investors respond better to global events

Sebi extends deadline to add nominees for demat account holders till Dec 31

Capital markets regulator Sebi on Tuesday extended the deadline by three months to December-end for existing demat account holders to provide choice of nomination or formally opt out of nomination through a declaration form. Additionally, submission of 'choice of nomination' for trading accounts has been made voluntary by the regulator as a move towards ease of doing business. Earlier, the deadline for existing eligible trading and demat account holders to provide a choice of nomination was on or before September 30. The move is aimed at helping investors to secure their assets and pass them on to their legal heirs. "Based on the representations received from the exchanges, depositories, brokers' associations and various other stakeholders, submission of 'choice of nomination' for trading accounts has been made voluntary as a step towards ease of doing business. "With respect to demat accounts, it has been decided to extend the last date for submission of 'choice of nomination' to

Submit documents in PACL case by Oct-end for refunds: Sebi to investors

A high-powered Sebi committee has asked investors in PACL group's illegal schemes with claims of up to Rs 19,000 to produce original documents by October 31 to receive refunds. The panel has asked only those investors whose applications have been successfully verified to submit their original certificates. The committee, headed by former Chief Justice of India RM Lodha, is overseeing the process of disposing of properties to refund investors after verifying their genuineness. It has already initiated the process of refund in phases. The panel was set up by Sebi in 2016 following a Supreme Court order. The committee has decided to call for original PACL registration certificates from eligible investors with claims between Rs 17,001 and Rs 19,000, whose applications have been successfully verified, according to a statement published on Sebi's website on Monday. Accordingly, intimation through SMS will be sent to all eligible investors, requiring them to submit original PACL registrat

Regulatory framework for large unlisted firms by MCA in the works

These regulations are expected to be part of the deliberations of the Company Law Committee, the senior official added

BRSR filings: Not mere disclosures

It should be used to improve ESG parameters, analyse vulnerability, and build appropriate tools for supervision and regulation

National Stock Exchange aims for extended F&O trading hours by March 2024

The extension is dependent on the approval of the markets regulator, for which the exchange filed the proposal weeks earlier

Regulatory relook: Move to push firms away from in-house RTAs on the cards

Sebi looking to increase networth requirement, other measures; may float discussion paper

Appeal to 'slow mind' to wean investors off F&O

Investors' 'fast mind' gets lured towards the F&O segment, enticed by the prospects of quick gains. A campaign targeting the 'slow mind' can induce prudence

Sebi empanels 34 entities for forensic investigation of MFs, AMCs, trustees

Sebi has empanelled 34 entities, including Ernst & Young LLP, Deloitte Touche Tohmatsu India LLP and Grant Thornton Bharat LLP to conduct forensic investigation of mutual funds, their asset management companies (AMCs) and trustees. KPMG Assurance and Consulting Services LLP, Chokshi & Chokshi LLP, Nangia & Co LLP and Pipara & Co LLP are among the other empanelled entities, the Securities and Exchange Board of India (Sebi) said in a latest update. The period of empanelment is from September 20, 2023 to September 19, 2026, it added. These 34 entities have been empanelled after evaluation of all the applications in response to Expression of Interest (EoI) invited by the capital markets regulator in February. The entities are required to undertake acquisition, extraction and analysis of digital evidence from mobile, computers, tablets, hard drives and USB drives. Also, they need to prepare and submit a report mentioning the findings and conclusions of the analysis. In ...

Sebi levies Rs 55 lakh fine on 11 entities for non-genuine trades

Sebi has levied 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 Kamala Agarwal, Kamla Devi Bajoria, Kamla Jain, Kamaljeet Kour, Kamal Ramprasad Gupta, Kamal Kumar, Kamlesh Ahuja, Kailash Narottamdas Anam, Sanjay Kumar Daga HUF Pragma Suppliers Pvt Ltd and Aromatic Tie Up Pvt Ltd. 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. Sebi 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 in the 11 separate orders on Thursday. Reversal trades are non-genuine as they are executed in the normal course of trading, leading to a false or misleading appearance

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 notifies rule for listing non-convertible debt securities on exchanges

Sebi has amended rules under which listed entities with outstanding non-convertible debt securities will be required to list subsequent issuance of such securities on stock exchanges. This will come into effect from January 1, 2024, the Securities and Exchange Board of India (Sebi) said in a notification uploaded on its website on Thursday. The move is aimed at facilitating transparency in price discovery of non-convertible debt securities, providing better disclosures to investors and the market, and avoiding ISIN-level confusion and possible mis-selling of unlisted bonds. In its notification, Sebi said certain types of issuances have been exempted from the applicability of this requirement. Those included capital gains tax debt securities issued under Section 54EC of the Income Tax Act, 1961; those Non-Convertible Debts (NCDs) where parties have agreed to hold the securities till maturity and accordingly will be unencumbered; and NCDs issued following an order of any court or ...

Market regulator Sebi eases corporate bond issuance norms for large firms

Sebi removes penalty, introduces incentives

Sebi firms 'corporate group' definition amid offshore funds scrutiny

This communication was sent by stock exchanges on behalf of the regulator - the Securities and Exchange Board of India (SEBI) - to companies earlier this week and has not been previously reported

Sebi issues guidelines for handling complaints received via SCORES platform

Capital markets regulator Sebi on Thursday came out with a framework for handling complaints received through SCORES platform for registered entities and for monitoring such grievances by designated bodies. The new guidelines will come into force from December 4, the Securities and Exchange Board of India (Sebi) said in a circular. SCORES is a grievance redressal system that was launched in June 2011. Investors can lodge their complaints online with Sebi, pertaining to the securities market, against companies, intermediaries and market infrastructure institutions. Under the guidelines, all entities including companies that received complaints of investors through SCORES, will have to resolve them within 21 calendar days of receipt of such grievances. The complaint lodged on SCORES against any entity will be automatically forwarded to the concerned entity through SCORES for resolution and submission of ATR (Action Taken Report). Further, the complaint against the entity will be ...

Sebi board clears various proposals, discusses tech in securities market

Markets regulator Sebi on Thursday decided to provide flexibility to large corporates in raising funds through issuance of debt securities for incremental financing needs. The decision was taken at the board meeting of the Securities and Exchange Board of India (Sebi) held here on Thursday. In a release, Sebi said its board also discussed various trends in the securities markets, including technology trends. Besides, the board has approved streamlining the framework for credit of unclaimed amounts of investors in listed entities to the Investor Protection and Education Fund (IPEF) and process of refund from the IPEF. This will be applicable for listed entities other than companies, Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). The regulator has also decided to extend the timeline for compliance with enhanced qualification and experience requirements for Investment Advisers (IAs).

Valiant Organics settles case with market regulator Sebi, pays Rs 10 lakh

Valiant Organics Ltd settled with capital markets regulator Sebi a case concerning flouting of alleged disclosure rules by paying Rs 10 lakh as the settlement amount. This came after the company filed a settlement application with Sebi proposing to settle the enforcement proceedings that may be initiated against it for the alleged lapse of non-compliance of Listing Obligations and Disclosure Requirements (LODR) Regulations by "neither admitting nor denying" any finding. "It is hereby ordered that the proceedings that may be initiated for the violations... are settled qua the applicant (Valiant Organics)," Sebi said in a settlement order passed on Monday. In its order, Sebi noted that Amarjyot Chemical Ltd (ACL) merged with Valiant Organics by absorption, which was sanctioned by the Mumbai Bench of the National Company Law Tribunal in March 2019. Following this, Valiant Organics allotted 72 fully paid equity shares of Rs 10 each and 21 Optionally Convertible Preference Shares (OCPS)