Page 126 - Sebi

Sebi looking to ease fundraising for NPO firms on social stock exchanges

Taking a step to ease the fundraising by not-for-profit organisations, capital markets regulator Sebi on Tuesday proposed flexibility in the regulatory framework for social stock exchanges. Under the proposal, the regulator has suggested reducing the threshold of the minimum issue size as well as application size for not-for-profit organisations (NPOs). Additionally, it has suggested abolishing the requirement of no pending notice or ongoing scrutiny by Income Tax against NPOs for registration on social stock exchanges (SSEs) and substituting the term social auditor with social impact assessor. Further, NPOs should be permitted to provide past social impact but not strictly as per the format specified by Sebi in their fundraising document, according to a consultation paper. The proposals are aimed at facilitating fundraising by NPOs. A not-for-profit organisation (NPO) is required to be registered with the SSE to raise funds. At present, 31 NPOs have been registered in this segmen

Sebi notifies new 'fit and proper' criteria for exchanges, clearing corps

Capital markets regulator Sebi has tweaked its framework regarding 'fit and proper' criteria for stock exchanges and other market infrastructure institutions, whereby any direction passed against such institutions will not affect their operations. The new rules are aimed at separating the role of an individual from such institutions. In two separate notifications, the Securities and Exchange Board of India (Sebi) said that 'fit and proper person' criteria will apply to the applicant, stock exchange, clearing corporation, depository, their shareholders, directors and key management personnel at all times. Further, such Market Infrastructure Institutions (MIIs) will have to ensure that all its shareholders, directors and key management personnel are fit and proper persons at all times. If any director or key management personnel of a MII is not deemed to be fit and proper, such entities will have to replace such a person within 30 days from the date of such disqualification, failing

Hindenburg case: Sebi probe faults Adani group on disclosure rules

The ports-to-power conglomerate had denied wrongdoing in January

Sebi notifies stricter delisting rules for non-convertible debt securities

With an aim to protect investors' interest, Sebi has notified a new framework prohibiting listed entities, with more than 200 non-QIB (qualified institutional buyer) holders of non-convertible debt securities, from delisting voluntarily. Under the new rule, the listed entity will have to obtain permission from all holders of non-convertible debt securities within 15 working days of receiving the notification of delisting. The present rule allows entities to delist by giving a prior intimation to the stock exchange about the meeting of the board of directors, where the proposal for a voluntary delisting is considered. Unlike equity, wherein approval by a threshold majority is sufficient for approval of delisting, in the new framework, approval of 100 per cent of the debt security holders has been mandated for delisting of debt securities. This is because, unlike equity which is a perpetual instrument, listed debt securities have a finite term to maturity. In its notification issued

Top headlines: Sebi's probe in Adani cos, Maha politics heat up, and more

Business Standard brings you the top headlines at this hour

Sebi probe likely to suggest no major lapses by Adani group companies

Report may name 6 short-sellers and mention gains they made around the time of Hindenburg report's release

Adani-Hindenburg row: Sebi's inability to reach verdict worrying, says Cong

The Congress on Saturday said stock market regulator SEBI's inability to reach a conclusive finding on the allegations of round-tripping and money laundering by the Adani Group was "deeply worrying". Congress general secretary Jairam Ramesh said the Securities and Exchange Board of India (SEBI) has admitted this in its status report to the Supreme Court and added only a Joint Parliamentary Committee (JPC) can examine how the government flouted norms and procedures to help Prime Minister Narendra Modi's "favourite business group". "The inability of the Securities and Exchange Board of India (SEBI) to reach a conclusive finding on allegations of round-tripping and money laundering by the Adani Group, as it has admitted in its 25th August 2023 status report to the Supreme Court, is deeply troubling," Ramesh said in a statement. Sharing the statement on 'X', he posted, "SEBI's inability to reach a final conclusion in the matter of round-tripping and money-laundering allegations against

Medi Assist files IPO papers with Sebi again; public issue entirely an OFS

Medi Assist Healthcare Services has filed preliminary papers with the capital markets regulator Sebi to raise funds through an initial share sale. This is the company's second attempt to go public. Earlier, it had filed draft papers with the Securities and Exchange Board of India (Sebi) in May 2011, for floating an IPO but deferred the maiden public issue amid pandemic-induced rough market conditions. According to the fresh draft red herring prospectus (DRHP) filed on Friday, the initial public offering (IPO) is entirely an offer for sale of up to 2.8 crore equity shares of Medi Assist by promoters and existing shareholders. Those selling shares in the offer for sale include Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II Ltd, Bessemer Health Capital LLC, and Investcorp Private Equity Fund I. Since the issue is completely an OFS, the company will not receive any proceeds and all the funds will go to the selling shareholders. Explaining

Punit Goenka appeals before SAT for relief from Sebi's Aug 14 order

The Zee Ent promoter has been barred holding key positions in four group firms and merged entity

Skin in the game: MFs have bet over Rs 80,000 cr on their own schemes

Most of the money goes to debt schemes, but equity allocations are rising

Market regulator Sebi mulls steps to limit finfluencers' influence

New payment mechanism; brand promotion restrictions on intermediaries

Adani-Hindenburg case: Sebi concludes 22 probes, submits report to SC

Sebi stated that 22 out of 24 investigations are now complete, with the remaining two at an interim stage

Market regulator Sebi mulls new fee collection system for advisors

Under this proposed mechanism, all fees paid by clients will be processed on a designated platform and directed to a Sebi-recognised supervisory body

Market regulator Sebi bats for NRIs, OCIs investments in IFSC FPIs

Currently, a single NRI and OCI cannot contribute more than 25 per cent of the total corpus of an FPI. Additionally, the combined contribution from NRIs and OCIs cannot exceed 50 per cent

Adani-Hindenburg case: Sebi shares investigation update with Supreme Court

SEBI "shall take appropriate action based on outcome of the investigations," it said

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

Sebi mandates granular disclosure for certain FPIs, prescribes timeline

FPIs holding more than 50 per cent of their equity Asset Under Management in a single corporate group will be required to comply with the requirements for additional disclosures

Increased surveillance by Sebi, stock exchanges ruins microcap party

Nearly two-thirds of them have underperformed the small-cap index so far this year

Sebi announces new disclosure requirements for select offshore funds

The funds will have 10 days to lower their investment to below 50% to avoid the enhanced disclosures

Sebi initiates 3rd tranche of distribution of disgorged amount in IPO cases

Capital markets regulator Sebi on Thursday said it has initiated the third tranche of distribution of nearly Rs 15 crore to 2.58 lakh investors from the disgorged amount in the matter of IPO irregularities observed during 2003-2005. The regulator has already distributed Rs 23.28 crore in April 2010 and Rs 18.06 crore in December 2015, according to a release. The capital markets watchdog has been distributing funds among eligible investors from the money collected by it through disgorgement orders in cases of irregularities in the Initial Public Offerings (IPO). The regulator had investigated certain irregularities in the shares issued through 21 IPOs during the period 2003-2005 before their listing on the stock exchanges. Following the completion of the investigations, the Securities and Exchange Board of India (Sebi) directed certain persons to disgorge the illegal gains. Under the chairmanship of former Judge of the Supreme Court of India D P Wadhwa, a committee was set up which