Page 137 - Sebi

Monitoring regulatory developments against Zee founder, CEO: Sony

Sony Pictures Entertainment on Wednesday said it took the India markets regulator's order banning Zee Entertainment founder and chief executive officer from holding board positions seriously

Sebi board meetings get meatier as agendas balloon in under new chief

Market participants say there is a visible change in the momentum of reforms. Some even say they are finding it difficult to keep pace with the changes

IIFL Securities to approach SAT against Sebi order on taking up new clients

The statement comes after the capital markets regulator Sebi on Monday barred IIFL Securities from onboarding new clients for two years for alleged mis-utilisation of client funds

Zee Entertainment slips 7% to hit 52-week low amid heavy volumes

The stock quoted its lowest level since September 2021, with over three-fold jumped in average trading volumes

IIFL Securities plunges 18% as Sebi bars onboarding new clients for 2 years

The SEBI has prohibited the Company from onboarding new clients for a period of two years in respect of its business as a stock broker.

Top headlines: Byju's sacks staff, Zee Ent terms Sebi's order unjustified

Business Standard brings you the top headlines at this hour

After Sony's merger plan for India's Zee turns into farce, time to walk

The television market in India is large, but its best days are in the rear-view mirror. So although the Zee network reaches 750 million people, its market share of 16.6% is stagnant

SEBI can't afford to be reactive, says order in IIFL Securities matter

SEBI said the notice has violated the provisions of SEBI 1993 Circular in various ways to clearly disregard the basic premise of the said circular both in letter and spirit

Sebi bans IIFL Securities from onboarding new clients for two years

Brokerage was mixing clients' funds with proprietary funds, says Sebi order

Sebi bans IIFL Securities from onboarding any new clients for two years

IIFL had, reportedly, used credit-balance client accounts to settle proprietary-trade obligations between April 2011 and January 2017

Sebi bans IIFL Securities from signing new broking clients for 2 years

The company will appeal SEBI's order, said an official who declined to be named as the person is not authorised to speak to the media

Sebi calls for urgent action against Zee promoters in its reply to SAT

Market regulator Sebi in its reply to the Securities and Appellate Tribunal (SAT) on the Zee Entertainment Enterprises Ltd's plea has called for urgent action against the promoters in the alleged fund diversion case to safeguard the management, investors and other stakeholders. In its affidavit, the Securities and Exchange Board of India (Sebi) pointed out that the applications made by Chairman Emeritus Subhash Chandra and Managing Director and CEO Punit Goenka on July 6, 2022, that "there was no urgency and that the same issue is the subject matter of the show cause notice dated July 6, 2022, is completely false and misleading." Sebi further stated that "not only have there been violations but also the issuance of multiple false disclosures and submission of statements to cover up such wrongdoings." "In the instant case, we have a situation before us where the Chairman Emeritus and the Managing Director and CEO of this large listed company are involved in a myriad of different ...

Sebi justifies 'urgent action' against Zee Entertainment in 197-page reply

In affidavit to SAT, regulator says move taken to safeguard management, protect investors and stakeholders

Sebi issues guidelines on product offerings by online bond platforms

Capital markets regulator Sebi on Friday restricted online bond platform providers from offering products other than listed debt securities on their platforms. In addition, the regulator allowed them to offer securities such as Government Securities, Treasury Bills, listed Sovereign Gold Bonds, listed municipal debt securities, and listed securitised debt instruments on their online bond platforms, according to a circular. Under the rules, Online Bond Platform Providers (OBPPs) need to register themselves as stock brokers in the debt segment of the stock exchange. OBPs offer an avenue for investors, particularly non-institutional investors to access the bond market. While restricting products offered on an online bond platform, Sebi reiterated that an entity acting as an online bond platform provider would cease to offer on its platform or any other platform website, products or services not permitted under the rules. It, further, said that the holding company, subsidiary, or ...

Sebi asks bourses to identify money laundering risks from new product

Sebi on Friday asked the stock exchanges and market intermediaries to identify and assess the money laundering and terror financing risks that may arise from the development of new products and new business practices. In addition, they have been directed to undertake such risk assessments before the launch or use of such products, practices, services and technologies, Sebi said in its updated guidelines on anti-money laundering standards and combating the financing of terrorism obligations of securities market intermediaries. The development comes after the government amended the Prevention of Money Laundering (Maintenance of Records) Rules or PMLA rules in March. In its guidelines, Sebi said that every intermediary will have to register the details of a client, in case of the client is a non-profit organisation, on the DARPAN portal of Niti Aayog and maintain the records for five years after the business relationship between a client and the intermediary has ended or the account ha

Sebi slaps Rs 87 lakh fine on 15 people for manipulating share prices

Capital markets regulator Sebi on Friday slapped fines totalling Rs 87 lakh on 15 individuals for manipulating the share prices of Kapil Raj Finance. The Securities and exchange board of India (Sebi) investigated the trading activities of certain entities in the scrip of Kapil Raj Finance Ltd (KRJFL), a BSE-listed entity. The investigation was mainly to ascertain whether there was any alleged trading by the suspected entities during the period from January to April 2018. Sebi's Adjudicating Officer G Ramar said, "I note that they (individuals) engaged in circular trading without change of beneficial ownership, contributing to nearly 80 per cent of circular trading volume, and thereby creating 22.2 per cent of trading volume, which was non-genuine and artificial, which created a misleading appearance of trading". By creating artificial volumes, they lured investors into trading in the scrip of KRJFL, he added. Through such acts, the individuals have flouted the PFUTP (Prohibition o

Sebi notifies disclosure rules; asks cos to confirm or deny market rumour

To streamline the disclosure requirements, Sebi has notified rules asking the top 100 listed companies by market capitalisation to confirm, deny or clarify any market rumour reported in the mainstream media from October 1. Further, for the top 250 listed entities, the rule will kick in from April 1, 2024, the Securities and Exchange Board of India (Sebi) said in a notification. These companies will have to "confirm, deny or clarify any reported event or information in the mainstream media which is not general in nature and which indicates that rumours of an impending specific material event" are circulating amongst the investing public, within 24 hours from the reporting of the information. To strengthen the corporate governance at listed entities, Sebi came out with a framework to address the issue of certain shareholders enjoying special rights perpetually. Any special right granted to the shareholders of a listed entity will be subject to the approval of the shareholders in a ..

Sebi attaches bank, demat, MF accounts of Mehul Choksi to recover dues

Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues totalling Rs 5.35 crore. The latest decision has been taken after Choksi failed to pay the fine imposed on him in October 2022 by Sebi in a case pertaining to indulging in fraudulent trading in the shares of Gitanjali Gems Ltd. Choksi, who was the chairman and managing director as well as part of the promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi. Both of whom are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore. Both Choksi and Modi fled India after the PNB scam came to light in early 2018. While Choksi is said to be in Antigua and Barbuda, Modi is lodged in a British jail and has challenged India's extradition request. In an attachment notice on Wednesday, Sebi said the pending dues of Rs 5.35 crore include the initial fine of Rs 5 crore, interest of Rs 35

No immediate relief to Zee promoters as SAT refuses to stay Sebi order

Tribunal asks markets regulator to file reply within 48 hour, posts matter for June 19

Sebi may not waive holdings rule for MFs post HDFC Bank, HDFC merger

As per SEBI rules, a mutual fund scheme cannot invest more than 10% in a single security