Page 148 - Sebi

Sebi plans to allow mutual funds with performance-based fees: Report

If introduced, India would be one of a handful of major markets to introduce performance-linked fees for mutual funds

Sebi approves transfer of controlling stake of HDFC AMC to HDFC Bank

HDFC Ltd on Friday said market regulator Securities and Exchange Board of India (Sebi) has approved the proposed change of controlling stake in HDFC AMC to HDFC Bank as part of the scheme of amalgamation. Sebi through its letter dated April 21, 2023, to HDFC Asset Management Company Limited (HDFC AMC), a subsidiary of HDFC Limited and the asset management company of HDFC Mutual Fund (HDFC MF), has granted its approval for the proposed change in control of HDFC AMC, HDFC Ltd said in a regulatory filing. The regulator has also advised HDFC AMC to ensure compliance with all other provisions of Sebi (Mutual Funds) Regulations, 1996, and circulars, it added. This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of the next financial year. Termed as the biggest transaction in India's corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40

Sebi issues procedure for vault managers to seek prior approval for change

Capital markets regulator Sebi on Friday came out with a procedure for vault managers to seek prior approval from the watchdog in case of a change in control. The vault manager is regulated as a Sebi intermediary for providing vaulting services meant for gold deposited to create electronic gold receipts (EGRs). The obligations of the vault manager include accepting deposits, storage, and safekeeping of gold, creation as well as withdrawal of EGR, grievance redressal, and periodic reconciliation of physical gold with the records of the depository. Under the procedure, Sebi said that an application should be made by the vault managers to the regulator for prior approval through the Intermediary Portal, according to a circular. "Applications for fresh registration under a change in control shall be made to Sebi within six months from the date of prior approval," the regulator said. The matters which involve a scheme of arrangement and need sanction from the National Company Law Tribu

Sebi bars ex-Care Ratings MD & CEO Rajesh Mokashi for two years

The market watchdog has relied upon exchanges and messages on WhatsApp by the members of the rating committee lamenting the repeated interference by Mokashi

Sebi bans ex-CEO of Care Ratings for 2 yrs for violating securities law

India's market regulator on Thursday barred the former chief executive of Care Ratings Ltd from the securities market for two years for violation of rules

Market regulator Sebi penalises former audiitors of CG Power for violations

India's market regulator penalised two former auditors of CG Power and Industrial Solutions Ltd on Thursday for rule violations, according to an order published on the regulator's website.

India Inc registers surge in independent directors quitting their jobs

IDs are responsible for both legal and regulatory obligations. They can raise red flags and register their disagreement on board matters

India, UK hold first in-person financial dialogue meeting since 2017

'Scope for augmenting knowledge on CBDC through mutual learning explored'

There's action in passive funds, build your core equity portfolio with them

Some active fund managers will beat the index each year; don't exit passive holdings out of envy

'Brokerage rates in India are among the lowest, need re-evaluation'

Ravi Kumar says float income generated by the industry is indeed facing challenges and brokerage rates could edge higher

Market regulator Sebi comes out with dispute resolution mechanism for LPCC

Capital markets regulator Sebi on Monday put in place a dispute resolution mechanism for Limited Purpose Clearing Corporation (LPCC) to settle disputes and claims arising out of transactions cleared by it. The mechanism will be used to settle disputes between clearing members; contention between the clearing members and their clients; differences between the LPCC and its vendors; and disputes between clearing members or its clients and the LPCC. The new framework would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. LPCC is an entity established to undertake the activity of clearing and settlement of repo transactions. A well-functioning repo market contributes to the development of the debt securities market by way of boosting the liquidity of the underlying debt securities and allowing market participants to monetise their debt holdings without selling the underlying, thus meeting their temporary need for funds. In its

Sebi takes more stringent approach towards initial public offerings

Regulator insisting firms identify promoter entities wherever possible, say investment bankers

How can Indian firms become strong?

Individuals and firms in India are being inhibited from the required engagement with globalisation

Top headlines: Adani row probe, Ambani's plan to take on Netflix, Disney

Business Standard brings you the top headlines at this hour

Under the scanner: Sebi steps up probe into Adani group controversy

Regulator seeking info from Adani firms, market intermediaries on a daily basis, as per sources

Market regulator Sebi sets up framework for upfront collection of funds

Markets regulator SEBI on Thursday put in place a framework for upfront collection of funds from eligible issuers of debt securities to build the Settlement Guarantee Fund of the Limited Purpose Clearing Corporation (LPCC). The eligible issuers would be notified by the LPCC as per its risk management policy, the Securities and Exchange Board of India (SEBI) said in a circular. LPCC is an entity established to undertake the activity of clearing and settlement of repurchase agreement transactions. Under the framework, SEBI said that an amount of 0.5 basis points of the issuance value of debt securities per annum based on the maturity of debt securities will be collected by the stock exchanges and placed in an escrow account before the allotment of the debt securities. This amount is applicable on a public issue or private placement of debt securities. The stock exchanges would transfer the amounts so collected to the bank account of the LPCC within one working day of the receipt of

Adani's Rs 20,000-cr FPO subscriber info not available: Sebi to RTI query

"The respondent, in response to the aforesaid queries, informed that the information sought is not available with Sebi," noted the Appellate Authority under the RTI Act

Zee Ent's Punit Goenka pays Rs 50.7 lakh to settle matter with Sebi

The matter dates back to September 2020 when ZEEL announced the launch of pay-per-view service Zeeplex

Market regulator Sebi issues show-cause notice to Brightcom Group, promoter

In interim order, regulator says company painted a 'rosy picture' of its financial statements

ZEEL CEO Goenka settles insider trading case with Sebi; pays Rs 50.7 lakh

Zee Entertainment Enterprises Ltd's MD and CEO Punit Goenka on Thursday settled with capital markets regulator Sebi a case of an alleged violation of insider trading norms after paying Rs 50.7 lakh towards the settlement fee. This came after Goenka proposed to the Securities and Exchange Board of India (Sebi) to settle the proceedings "without admitting or denying the findings" through a settlement order. "It is hereby ordered that the instant proceedings initiated against the applicant vide SCN (show cause notice) dated December 22, 2022, are disposed of," Sebi said in its settlement order. The regulator, in its investigation, found that Goenka allegedly failed to put in place adequate internal controls within the company to identify unpublished price-sensitive information (UPSI) and failed to identify the information pertaining to the launch of Cinema 2 Home Service, ZEEPLEX, as UPSI. By doing so, he allegedly violated the provisions of insider trading rules. Following this, a sh