Page 127 - Sebi

Individual settles alleged insider trading case with Sebi, pays Rs 26 lakh

An individual on Wednesday settled a case with markets regulator Sebi in relation to the alleged violation of insider trading norms in the matter of Himadri Speciality Chemical Ltd after paying Rs 26 lakh as settlement charges. The settlement order came after the applicant, Debashis Ghosh, proposed to settle the instant proceedings initiated against him "without admitting or denying the findings of facts and conclusions of law". "In view of the acceptance of the settlement terms and the receipt of settlement amount... the instant adjudication proceedings initiated against applicant vide show cause notice dated December 28, 2022, is disposed of in terms of the ... Settlement Regulations," Sebi's Adjudicating Officer Barnali Mukherjee said in an order. The Securities and Exchange Board of India (Sebi) had initiated adjudication proceedings against the applicant for the alleged violation of the code of conduct of PIT (Prohibition of Insider Trading) rules. A show cause notice was issu

Nearly two dozen companies face action for lapses in listing regulations

Bourses slap penalties for lack of women directors, improper board composition

Heating equipment maker JNK India files draft papers with Sebi to float IPO

Heating equipment maker JNK India Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth up to Rs 300 crore and an Offer for Sale (OFS) of up to 84.21 lakh equity shares by promoters and an existing shareholder, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday. Those offloading shares in the OFS are of promoters -- Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters Co. Ltd. and Mascot Capital and Marketing Pvt Ltd. -- and shareholder Milind Joshi. The Mumbai-based company may consider an issue of equity shares aggregating up to Rs 60 crore in the pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced. Going by the draft papers, proceeds from the fresh issue to the tune of Rs 276 crore will be used for funding working capital requirements and a portion will also be used for general corporate ...

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

Stationery maker Doms files draft papers for $145 mn IPO with Sebi

Milan-listed FILA Fabbrica Italiana Lapis ed Affini SpA, which holds a 51% stake in the company, is selling shares worth Rs 800 cr

It's show and tell time for corporate India

As Sebi's new norms prompt a transparency wave, companies grapple with the challenge of ensuring what to disclose and when to appeal to investors

Sebi mulls body for administration, supervision of research analysts

Sebi has further proposed that the registration with this body will be mandatory as one of the eligibility criteria for seeking RA certification

Sebi proposes body for administration, supervision of research analysts

Capital markets regulator Sebi on Tuesday proposed to recognise an entity designated as Research Analyst Administration and Supervisory Body (RAASB), which will be responsible for the administration and supervision of the research analysts. In its consultation paper, Sebi said that the proposed body should not place any additional financial burden on the research analysts (RAs). Further, the application fee and registration fee as specified under the current RA Regulations has been proposed to be rationalised accordingly. In addition, it has been suggested to amend the rules to provide that membership of RAASB should be one of the eligibility criteria for consideration of the grant of registration certificate as RA. The Securities and Exchange Board of India (Sebi) has sought comments from the public on the proposals till September 12. "Considering the evolving nature of business of RAs, it is proposed that, on similar lines as IAASB, Sebi may recognise a body, designated as Resear

Sebi bars Brightcom Group's chairman SK Reddy and CFO Narayan Raju

Regulator finds several irregularities; says company submitted forged bank statements to mislead

SAT refuses to interfere, grant any immediate relief in Eros matter

Directs firm to file a reply within three weeks in case involving alleged siphoning of funds

Jupiter Hospitals raises Rs 123 cr in pre -IPO round; gets Sebi's nod

Multi-specialty hospital chain Jupiter Life Line Hospitals has mobilised Rs 123 crore from institutional investors in the pre-IPO (initial public offering) round. In addition, the company has received capital markets regulator Sebi's go-ahead to raise funds through its IPO. It received Sebi's observation letter on August 11, an update with the regulator showed on Tuesday. The company issued 16.7 lakh shares at a price of Rs 735 apiece, according to a public announcement. Investors participated in the pre-IPO round include SBI Magnum Children's Benefit Fund, SBI Optimal Equity Fund, SBI Healthcare Opportunities Fund, Neuberger Berman Emerging Markets Equity Fund, Neuberger Berman Europe Holdings LLC and Neuberger Berman Strategic India Equity Master Fund Holdings Ltd. In addition, High Conviction Fund - Series 1, Ashoka India Equity Investment Trust PLC, Think India Opportunities Master Fund LP and DC Ikka Ltd too participated. In May, Jupiter filed its preliminary papers with the

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

Market regulator Sebi to bring follow-on offer rules for REITs, InvITs

To develop the market for emerging investment instruments, Sebi is looking to bring in norms for follow-on offers by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). REITs and InvITs were introduced in India to provide investors with an opportunity to gain exposure to real estate and infrastructure projects respectively, with diversification of risks through pooling arrangements. Generally, REITs invest majorly in completed and rent-generating real estate assets. Privately placed InvITs can invest in under-construction assets as well as completed and revenue-generating assets and public InvITs can invest majorly in completed and revenue-generating assets. "Taking cognizance of the potential of REITs and InvITs in driving the future of Indian infrastructure, Sebi would endeavour to further develop the market for REITs and InvITs in the coming years through policy measures including considering bringing in norms for follow-on offers by REITs and ..

Sebi's new rule gives board representation rights to REITs' unitholders

To boost corporate governance norms, markets regulator Sebi has notified rules introducing special rights to unitholders of REITs who can now nominate representatives on the boards. Also, the regulator has introduced the concept of a self-sponsored real estate investment trust (REIT). Further, Sebi said that principles of stewardship code would apply to members, nominated by the unitholders, on the board of directors of investment managers of REIT. Amending rules for REITs, Sebi said, "Unitholders holding not less than 10 per cent of the total outstanding units of the REIT, either individually or collectively, shall be entitled to nominate one director on the board of directors of the manager." This would ensure pro-rata rights to all unitholders. Further, the director so nominated would recuse from voting on any transaction in which such nominee director or the unitholder who nominated such nominee director is a party, Sebi said in a notification on Thursday. Over the years, ret

Sebi notifies rules to strengthen investor grievance redressal mechanism

Capital market regulator Sebi has notified rules to strengthen investor grievance redressal mechanism wherein complaints will have to be addressed by the entities concerned within 21 days. The new rules also come against the backdrop of increasing participation of investors in the securities markets. Now, merchant bankers, debenture trustees, registrar to an issue, share transfer agent and a know your client registration agency will redress investor grievances within 21 days, according to a notification issued on Thursday. The rules will also be applicable to portfolio managers, investment advisers and research analysts. Sebi can also recognise a body corporate for handling and monitoring the grievance redressal process within the stipulated time. The new framework will be called Sebi's Facilitation of Grievance Redressal Mechanism Rules 2023. In June, the regulator's board approved a proposal to revamp Sebi Complaint Redress System (SCORES) to strengthen the process of redressal

Asci puts more onus on financial, health influencers in new ad guidelines

Asci said it is necessary that influencers in these two categories are qualified to provide advice and that these qualifications are stated upfront whenever they put out advertising posts

Indore-based EKI Energy Services statutory auditor removal draws flak

SES has urged the market regulator Securities and Exchange Board of India (Sebi) to probe the affairs at EKI

Sebi extends auction date for properties of 7 companies to Aug 31

Sebi extends auction date to Aug 31 for properties of 7 companies

Varshney, Singh fill two vacant posts of whole-time members at Sebi

Government has appointed both for an initial period of three years

Govt planning to sell 11.36% shares in Indian Railway Finance Corp via OFS

The government is planning to sell a part of its holding in state-owned Indian Railway Finance Corp (IRFC) through an offer for sale (OFS) in the current fiscal, an official said on Wednesday. The government currently holds an 86.36 per cent stake in the financing arm of the Indian Railways. The official said that an inter-ministerial group (IMG) comprising senior officers from the Department of Investment and Public Asset Management (DIPAM) and the Railways Ministry has started consultations to decide on the quantum of stake dilution. To make the central public sector enterprise compliant to Sebi's minimum public shareholding (MPS) norm, the government has to dilute 11.36 per cent stake in IRFC. As per MPS norm, a listed entity must have a minimum public float of 25 per cent within five years of listing. "We are assessing investor appetite before deciding on the quantum of dilution," the official told PTI. Shares of IRFC were trading at Rs 50.97 a share, up 0.14 per cent over ..