Page 132 - Sebi

Top headlines: Demerger of ITC's hotels biz, share transactions, and more

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Instant settlement of share transactions in the works: Sebi chief

Sebi is reviewing the framework of "trading plan" -- used by insiders to deal in the shares of their companies as required under the Prohibition of Insider Trading (PIT) Regulations

Sebi mulls new architecture for implementing rules: Chairperson Buch

Sebi Chairperson Madhabi Puri Buch on Monday said the capital markets regulator is looking to introduce an entirely new architecture where the industry evolves ways to implement rules. It also announced a review of the delisting process and promised to come out with a consultation paper by December, wherein the intent is to make it easier for companies to undertake such moves, Buch said. On the new architecture for regulations, Buch said Sebi has frequently received feedback wherein participants find it difficult to implement the regulations that it has announced, which is leading it to experiment with this pilot project. This will be like a regulatory sandbox, Buch said, maintaining that the system will be used for prospective regulations and can also be used for existing ones if the industry comes up with specific challenges. She also made it clear that none of the regulations will be on hold. "It is a mechanism to assist the industry to implement the regulations. It is not a ro

Sebi working on instant settlement of stock market transactions: Buch

Sebi Chairperson Madhabi Puri Buch on Monday said the capital markets regulator is working on instant transaction settlement in the stock markets. Buch said the day is not far off when stock market transactions will be settled instantaneously. She said the regulator is working with stakeholders to improve the timelines on transaction settlement towards this goal. The regulator has been working on upping the pace of new equity issuances, debt issuances, approvals for mutual fund schemes using technology and other interventions with the aim of helping capital formation in the economy, she said. Such interventions have accrued in monetary benefits of Rs 3,500 crore for the investor community on an annual basis, she added. The investment banker-turned-regulator said India is in a very good place as an economy which ups the importance of Sebi's role in aiding capital formation. The GST collection number show that the economy is doing extremely well and the advance tax payments by ...

Sebi to consider permitting delisting via fixed price: Madhabi Puri

The market regulator is now considering permitting a promoter to place a delisting offer at a fixed price for shareholders to consider

Centre orders probe into Eros International Media's accounts: Report

In an interim order in June, SEBI said it had found prima facie evidence that Eros International's accounts were "overstated and do not present a true and fair picture of its financial health"

Sebi cancels Progressive Comtrade registration, gives 15 days for transfer

Capital markets regulator Sebi on Friday cancelled the registration of Progressive Comtrade for facilitating its clients to trade in illegal 'paired contracts' on the National Spot Exchange Ltd (now defunct). "The noticee (Progressive Comtrade) by providing access for taking exposure to 'paired contracts' and did not have regulatory approval and also by undertaking such exposure itself on account of its proprietary trades, thereby raises doubts on the competence of the noticee to act as a registered securities market intermediary. "The actions of the noticee have been and could be detrimental to the interest of the securities market and accordingly the noticee can no longer be called a 'fit and proper person' for holding the certificate of registration as a broker in the securities market," Sebi's Executive Director V S Sundaresan said in the order. The regulator has asked the broker to allow its existing clients or transfer their securities or funds held in its custody within 15 ..

Foxconn's Bharat FIH rolls back plan to raise Rs 5,000 cr via IPO: Report

The decision has been taken due to weak smartphone market conditions and changes in the company's internal strategy

Sebi moots measures to monitor exposure of clearing corporations

Capital markets regulator Sebi on Thursday proposed measures for monitoring the exposure of Clearing Corporations (CCs) to various entities and mitigate the risks. It has been suggested that any type of exposure of CC should be appropriately monitored and managed. Besides, such exposures should be diversified. Issuing the proposals, Sebi mentioned about the critical role played by a CC in the securities market ecosystem and that it is exposed to concentration risk. "... it is important to protect the CC from the risks associated with such entities to which the CC is exposed to and ensure that such exposures of CC are adequately diversified" Sebi said in a consultation paper. The regulator has comments from the public on the proposals till August 10. For the purpose of monitoring, Sebi has recommended that CCs should consider several types of exposures. They include CCs' own funds invested with banks, Core Settlement Guarantee Fund (SGF) corpus deployed with banks, CCs' balances

Market regulator Sebi introduces new MF categories for ESG funds

Mandates additional disclosures, audit for ESG-thematic funds

Sebi allows mutual funds to introduce new categories under ESG scheme

Capital markets regulator Sebi on Thursday allowed mutual funds to introduce five new categories under ESG (environmental, social and governance) scheme and put in place a disclosure framework for them. The five new categories are -- exclusions, integration, best-in-class and positive screening, impact investing and sustainable objectives. Presently, mutual funds can launch only one ESG scheme under the thematic category of equity schemes. The provision of a new category for ESG schemes will be applicable with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. The regulator said these measures will facilitate green financing with a thrust on enhanced disclosures and mitigation of greenwashing. Sebi has mandated ESG schemes to invest at least 65 per cent of assets under management (AUM) in listed entities, where assurance on the BRSR (Business Responsibility and Sustainability Reporting) Core is undertaken. The balance AUM of the scheme can be

Sebi cancels Fairwealth Commodity Broking's registration for misusing funds

Capital markets regulator Sebi on Wednesday cancelled the registration of Fairwealth Commodity Broking Pvt (FCBL) as a broker for misusing clients' funds. This order would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said. The present matter emanates from the findings in respect of the inspection carried out by Sebi of FCBL during the period from April 2017 to December 2018. In its probe, Sebi found "FCBL had carried out acts that resulted in failure to segregate client funds from own funds; misuse of clients' funds; non-settlement of clients' funds; providing wrong/incomplete enhanced supervision data; improper client registration process; and incorrect mobile number and email ID". The brokerage house on three trading days, out of the sample 36 trading days chosen for inspection, had misused the funds of clients, the regulator said in its 25-page report. Also, there were many instances where settlement of funds of clients hadn't happen

PAN-trading account freeze extended to all listed firms, says Sebi

Listed companies will be provided with a portal for updating the commencement and end of the trading window closure period

SOP for FPI custodians on the cards to remove regulatory arbitrage

Sebi move will also discourage DDP shopping

Sebi orders attachment of bank, demat, MF accounts of Videocon's Dhoot

Markets regulator Sebi has ordered the attachment of bank and demat accounts as well as mutual fund holdings of Videocon Group founder Venugopal Dhoot to recover dues totalling Rs 5.16 lakh. The latest decision has been taken after Dhoot failed to pay the fine imposed on him in March by Sebi for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions. In an attachment notice on Monday, Sebi said the pending dues of Rs 5.16 lakh include the initial fine of Rs 5 lakh, interest of Rs 15,000 and a recovery cost of Rs 1,000. To recover the dues, Sebi asked all banks, depositories CDSL and NSDL and mutual funds to not allow any debit from the accounts of Dhoot. However, credits have been permitted. Further, Sebi has directed banks to attach all accounts, including lockers, held by the defaulter. Initiating the recover

Sebi to auction properties of 7 cos on Aug 21 to recover investors' money

Sebi on Tuesday said it will auction 15 properties of seven companies, including Sunheaven Agro India and RaviKiran Realty India, along with that of promoters and directors on August 21 to recover money illegally collected from investors. The other firms whose properties will be auctioned are -- Infocare Infra, Bharat Krishi Samridhi Industries Ltd, GSHP Realtech Ltd, Just-Reliable Projects India Ltd, and Newland Agro Industries Ltd. The properties will be auctioned at a reserve price of Rs 13 crore, according to a public notice issued by the Securities and Exchange Board of India (Sebi). These assets include land parcels and a residential building located in West Bengal. Of the 15 properties, four relate to Bharat Krishi Samriddhi Industries, three each of Just-Reliable Projects India and Newland Agro Industries, two related to Sunheaven and one each of RaviKiran Realty India, Infocare Infra and GSHP Realtech. Inviting bids for the sale of properties in the recovery proceedings .

Sebi bans Fincap Research Investment Advisor, two individuals for 2 yrs

Capital markets regulator Sebi on Monday barred Fincap Research Investment Advisor and two individuals from the securities markets for two years for violating regulatory norms. The regulator also slapped a penalty of Rs 14 lakh on Sonika Namdharani, proprietor of Sebi-registered Fincap Research Investment Advisor and Rs 7 lakh on Mahavir Prasad Mundra. Further, the markets watchdog restrained them from associating themselves as a director or key managerial personnel with any listed company or any public company which intends to raise money from the public, or any intermediary registered with Sebi for a period of two years. The order came after the Securities and Exchange Board of India (Sebi) conducted an inspection of Fincap Research Investment Advisor from April 2018 to November 2019 (inspection period). In its 62-page order, Sebi found that Fincap was knowingly acting in a deceitful manner by allowing Mahavir (Sonika's husband) to run her proprietorship, submitting fake experien

Zee constitutes interim panel following Sebi's bar on Goenka

Shares of the company have surged over 15% in the last two trading sessions

SAT sets aside Sebi AO order in NSE colo matter, sees nothing new in it

Tribunal was comparing latest order with previous one for which it issued directions in Jan; quashes fine imposed by Sebi officer, says same violation cannot suffer two penalties

Pen maker Flair Writing Industries files Rs 745-cr IPO papers with Sebi

Pen maker Flair Writing Industries Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 745 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 365 crore and an offer-for-sale (OFS) of equity shares worth up to Rs 380 crore by promoters and promoter group entities, according to the draft red herring prospectus (DRHP) filed on Friday. Those offering shares in the OFS are -- Khubilal Jugraj Rathod, Vimalchand Jugraj Rathod, Nirmala Khubilal Rathod, Manjula Vimalchand Rathod, Rajesh Khubilal Rathod, Mohit Khubilal Rathod, Sumit Rathod; Sangita Rajesh Rathod; Shalini Mohit Rathod and Sonal Sumit Rathod. At present, promoters and promoter group entities own a 100 per cent stake in the company. The company proposes to utilize the net proceeds of the fresh issue for setting up a manufacturing facility for writing instruments at Valsad district, in Gujarat; funding its capital expenditure and its