Page 151 - Sebi

Infinium, MOS, Exhicon, Sancode IPOs to be launched today; check details

All the IPOs belong to the Small and Medium Enterprises (SME) segment

Sebi rectifies penalty on Samir Jain, wife and others in PNB Finance case

Sebi found connected entities holding 91.51 per cent and 94.45 per cent in PNBFIL and CCCL, respectively

Sebi considers bringing in new expense structure for mutual funds

Plans to link expense ratio to AMC's total AUM in an asset class

Facts absolutely opposite: Sebi chief on public perception in legal cases

Amid perception in certain quarters that Sebi is weak on the legal side, its chairperson Madhabi Puri Buch on Wednesday said "the facts are absolutely opposite". Sebi lost the high profile NSE co-location case in the Supreme Court recently wherein the apex court has partly upheld Sebi's orders of making NSE pay Rs 600 crore. Partly disposing of Sebi order, it allowed only Rs 100 crore penalty on the largest equity bourse and asked the Sebi to return the rest to the exchange. Addressing a press conference after a board meeting here this evening, Buch said, "while we do admit that the public perception is against us, the facts are absolutely opposite." Sharing details, she said, "We on average win as much as 75 per cent of the cases at the Supreme Court. That means we lose only one-fourth of the cases that go to the apex court. And I don't think this is bad run rate. "When it comes to the Securities Appellate Tribunal, our success rate is much higher at 81 per cent as of 2021," Buch

Markets regulator Sebi unveils key reforms to protect investors

Board approves ASBA-like facility for secondary market, sponsor-less AMCs

Sebi slaps penalties totalling Rs 36 cr on PNB Finance, CCCL, others

Sebi on Tuesday imposed penalties totalling Rs 35.67 crore on PNB Finance and Industries Ltd, Camac Commercial Company Ltd and various other entities, including promoters Samir Jain and Meera Jain who have also been barred from the securities market. Apart from the market ban, Samir Jain and Meera Jain have been restrained from holding any key managerial position or associating with any listed public company. These restrictions will be in place till the two companies comply with the minimum public shareholding requirement under Sebi norms, according to two separate orders. Listed companies are required to have at least 25 per cent public shareholding. As per Sebi, the two companies did not make adequate disclosures about their promoter entities. The companies, listed on Calcutta Stock Exchange, have also been directed to disclose details about their promoters. Samir Jain was the Vice Chairman and Managing Director of Bennett Coleman and Co. Limited (BCCL) at the relevant point of t

SC allows Centre's plea seeking Rs 5,000 cr from SEBI-Sahara fund

The Supreme Court on Wednesday allowed a plea by the Centre seeking allocation of Rs 5,000 crore out of Rs 24,000 crore deposited by the Sahara group with market regulator Sebi to repay its depositors. The direction came on an application filed by the Centre in a PIL by a person, named Pinak Pani Mohanty, who sought a direction to pay the amount to the depositors who invested in several chit fund companies and Sahara credit firms. A bench of Justices MR Shah and CT Ravikumar said the amount shall be disbursed to depositors duped by the Sahara group of cooperative societies. The entire process will be monitored by former apex court judge Justice R Subhash Reddy, the bench said. The Centre had sought money from the SEBI-Sahara Sahara-Sebi escrow account that was formed after the top court in August 2012 directed two Sahara firms -- Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing India Corporation Limited (SHICL) -- to refund investors.

Short selling and activism don't go together

Contrary to the rationale of short selling, third-party investigative reports from activist short sellers violate Sebi regulations

Sebi paves way for Rs 33,000-crore 'backstop' for debt mutual funds

Sebi told reporters that chosen debt MFs will contribute 2 basis points of their assets under management towards the fund

SC allows Centre's plea for Rs 5,000 cr from SEBI-Sahara fund for repayment

The Supreme Court allowed a plea by the Central government seeking Rs 5,000 crore allocation out of Rs 24,000 crore, which was deposited by Sahara group with the SEBI, to pay back to the depositors

Sebi to put in place framework to prevent frauds by stock brokers

To strengthen corporate governance norms, Sebi decided to end the practice of individuals having permanent seats on boards of listed companies

Sebi bans 6 entities from securities market in front running case

Capital markets regulator Sebi has restrained six entities, including Banhem Stock Broking and Ninja Securities, from the securities market and impounded wrongful gains of Rs 2.23 crore from them for involving in front running trades of Anvil Wealth Management. Apart from these two, the other entities banned by the regulator are Kaushal Chandarana, Manish Mehta, Kashmira Mehta and Sumatilal Mehta. Also, the entities have been directed not to dispose of any of their assets or securities, till such time the amount of wrongful gains is credited, the Securities and Exchange Board of India (Sebi) said in its interim order on Tuesday. In its order, Sebi found that Ninja and Banhem traded in different securities ahead of the impending orders placed on behalf of portfolio management service provider Anvil Wealth Management. It was further noted that the common director of Ninja and Banhem -- Manish Mehta -- was connected with Kaushal Chandarana, portfolio manager of Anvil. It was observed

SPC Lifesciences files draft papers with Sebi for initial public offer

Pharmaceutical ingredients maker SPC Lifesciences Ltd has filed preliminary papers with the capital market regulator Sebi to raise funds through an initial public offering. The Initial Public Offering (IPO) consists of fresh issuance of equity shares worth Rs 300 crore and an Offer For Sale (OFS) of 89.39 lakh equity shares by promoter -- Snehal Rajivbhai Patel -- according to the draft red herring prospectus. The company may consider a pre-IPO placement aggregating up to Rs 60 crore and if such a placement is completed, then the fresh issue size will be reduced. The proceeds from the fresh issue will be used to pay debt, to support working capital needs and to fund capital expenditure requirements for setting up Phase-2 at its Dahej facility in order to expand product offerings of pharmaceutical intermediates, and for general corporate purpose. Gujarat-based SPC Lifesciences is a leading manufacturers of advanced intermediates for certain key active pharmaceutical ingredients. Th

Deadline for nomination for MF, demat accounts extended till Sept 30

Stock brokers, AMCs directed to send regular communications to investors yet to comply

Sebi relaxes FPI onboarding norms but gaps remain in framework, say experts

Anomalies seen in time period for reporting material changes

Sebi introduces framework for scheme of arrangement by clearing corps

Capital market regulator Sebi on Tuesday introduced a framework for 'scheme of arrangement' by unlisted stock exchanges, clearing corporations and depositories. A scheme of arrangement is a court-approved agreement between a company and its shareholders or creditors. At present, there is no specific provision for unlisted Market Infrastructure Institutions (MIIs) -- stock exchanges, clearing corporations and depositories -- to file the draft scheme of arrangement with Sebi prior to filing the application before any court or tribunal. Further, the process to be followed by unlisted MIIs in case of a scheme of arrangement is currently not specified. Under the new framework, Sebi said that unlisted MII desirous of undertaking a scheme of arrangement will have to file the draft scheme of arrangement along with a non-refundable fee with the regulator for obtaining the observation letter or no-objection letter before filing such a scheme with any court or tribunal. The provision may not

Udayshivakumar Infra IPO: Shares to be allotted today; learn how to check

Udayshivakumar Infra IPO listing date: The shares of the IPO are expected to be listed on the bourses on April 3

Deadline for nomination for demat, trading accounts extended till Sept 30

Decision taken on the basis of assessment of accounts where it has not been updated yet, says Sebi

Sebi imposes Rs 1-crore fine in Coffee Day Enterprises fund diversion case

The company was directed to pay the fine within 45 days, according to an order passed by the Securities and Exchange Board of India

NDTV appoints ex-Sebi chief UK Sinha, Welspun CEO as independent directors

Adani group-owned NDTV Ltd on Monday said it has appointed former Sebi Chairman Upendra Kumar Sinha and Welspun India Ltd CEO and MD Dipali Goenka as Independent Directors. The Board has approved the appointment of Sinha and Goenka with immediate effect, said a regulatory filing by the news broadcaster. Both of them have been appointed as Additional Directors in the capacity of Non-Executive Independent Directors with effect from March 27, 2023, for two years, up to March 26, 2025, NDTV said. The appointments are subject to approval in the ensuing general meeting of the company and the Ministry of Information & Broadcasting, it added. The board approved their appointments "in line with the Adani Group's objective to ensure complete independence and professionalism of the Board of Directors of New Delhi Television Ltd", the filing added. Sinha, a former bureaucrat, served as the Chairman of the Securities and Exchange Board of India (Sebi) between 2011 and 2017. Before this, he wa