Page 152 - Sebi

Sebi cancels Capvision Investment's registration for misleading client

Capital markets regulator Sebi on Monday cancelled the registration of Capvision Investment Advisor for promising assured profit to clients in the securities market and misleading investors. Capvision Investment Advisor was registered with Sebi as an Investment Adviser in June 2014. It is a partnership firm with partners Ravi Prakash Mishra and Rekha Mishra. In its order, Sebi found that Capvision was engaged in "non-genuine and deceptive activity" of obtaining payments from clients to third-party bank accounts. Further, Capvision has made representations to its clients, promising such assured returns and thus failed in its responsibility to act in a fiduciary capacity towards its clients. Accordingly, it has violated the code of conduct specified under the investment adviser (IA) rules. Also, Sebi said that promising assured profit in the securities market amounts to misrepresentation and misleading investors. Such reckless conduct by Capvision intended to induce investors to dea

Declare nominee by March 31 or risk having your demat, MF folio frozen

Appointing a nominee is vital as it protects the family of a person who has passed away from a lot of hassles

Arshad Warsi, wife Maria Goretti get relief from SAT against Sebi ban

In its order, Sebi had directed the Warsis to deposit Rs 76.33 lakh, which has now been reduced by SAT to Rs 38.16 lakh

NSDL warns brokers 'opting out' of demat nomination without investors' nod

Some brokers were opting out on behalf of investors who hadn't submitted choice of nomination and whose trading accounts will become inactive after March 31 if they don't exercise their choice by then

Mamaearth denies claims of IPO withdrawal, expects SEBI nod by next month

Earlier in the day, a report by Reuters said that the company has delayed its IPO due to unfavourable market conditions

Accept investments from KYC compliant e-wallets: Sebi to mutual funds

The use of e-wallets for MF investments was allowed in 2017 to promote digitisation

Morgan Stanley France pays Rs 25,00,000, settles Nifty options case

Morgan Stanley had filed a settlement application with the markets regulator in February 2022

Sebi board to approve new ESG framework at upcoming meeting on March 29

Adani-Hindenburg saga may be discussed

AIF applications pile up due to rejig at Sebi, even as regulator turns wary

Longer-than-expected wait time leads to delay in fund launches

BoB-backed IndiaFirst Life Insurance gets regulator approval for IPO

Company seeks to raise about Rs 500 cr from fresh issue of shares, draft papers say

BoB-backed IndiaFirst Life Insurance gets Sebi approval to launch IPO

Bank of Baroda promoted IndiaFirst Life Insurance Company (IndiaFirst Life) has received capital markets regulator Sebi's approval to float Initial Public Offering (IPO). The IPO comprises a fresh issue of up to Rs 500 crore along with an offer for sale (OFS) of up to 14,12,99,422 equity shares by the promoters and existing shareholders of the company. Bank of Baroda will sell 8,90,15,734 equity shares, whereas Union Bank of India will sell 1,30,56,415 equity shares in the OFS. Carmel Point Investments India would offload 3,92,27,273 equity shares during the primary stake sale. Bank of Baroda, India's third largest public sector lender, holds a 65 per cent stake in the company, followed by Warburg Pincus affiliate Carmel Point Investments India which holds 26 per cent and Union Bank of India with 9 per cent stake. The firm may consider a private placement on a preferential basis or a rights issue aggregating up to Rs 100 crore. If such a placement is completed, the fresh issue size

Supreme Court directs market regulator to refund Rs 3 bn to NSE

The top court also refused to stay a tribunal order, which had set aside the regulator's ruling against NSE, the lawyers added

Street signs: Nifty faces resistance, cigarette stocks, and more

Tobacco manufacturer ITC, Godfrey Phillips India, and VST Industries have gained since the Union Budget on February 1, even as the benchmark Sensex declined close to 3%

Sebi takes stricter approach in IPO clearance; returns draft paper of 6 cos

After the Paytm's IPO fiasco, Sebi has turned cautious while giving clearance to the initial share sales as it has returned the preliminary papers of half a dozen companies, including Oravel Stays, which operates hospitality chain OYO, in over two months. These companies have been asked to re-file their draft red herring prospectus (DRHP) with certain updates. Apart from OYO, the firms whose draft papers have been returned by the regulator are -- Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group; home-grown mobile maker Lava International; B2B payments and services provider Paymate India; Fincare Small Finance Bank India and integrated services company BVG India, according to an analysis of data with Sebi . The six companies had filed their preliminary initial public offering (IPO) papers with Sebi between September 2021 and May 2022 and their papers were returned during January-March (till March 10). Together, these companies were hoping to raise at least

ESOPs: Market regulator Sebi could tweak regulations for start-ups

Sebi does not want founders to own stock options if they have rights akin to those enjoyed by promoters, the sources with direct knowledge of the matter said

SAT reserves Sebi order against Arshad Warsi in pump-and-dump case

The regulator had barred the actor and his wife for manipulation of Sadhna Broadcast shares via YouTube videos

Sebi comes out with requirement to process investors' service requests

Capital markets regulator Sebi on Friday came out with simplified procedural requirements for processing investors' service requests by registrar and share transfer agents (RTAs) to push ease of doing business. In addition, the regulator has issued framework for furnishing PAN, KYC (Know Your Client) details and nomination by holders of physical securities. This came after Sebi received representations from investors regarding difficulties being faced by them with regard to certain procedural aspects of guidelines and varied interpretations pertaining to the documentation required for processing investor service requests. The new framework would come into force from April 1, the Securities and Exchange Board of India (Sebi) said in a circular. The regulator has made it mandatory for all holders of physical securities in listed companies to furnish PAN, nomination, contact details, bank account details and specimen signature for their corresponding folio numbers. The folios or inve

Sebi's tough norms for FPIs: Mandatory to disclose any material changes

Capital markets regulator Sebi has made stringent norms for Foreign Portfolio Investors (FPIs), asking them to disclose any material change in their structure and common ownership within seven working days. With regard to new FPI registrations, the Securities and Exchange Board of India (Sebi) can ask them for any additional documents which may be required, according to a notification. Under the new rules, FPIs will inform Sebi and designated depository about any false or misleading information about change in material respect and any change in their structure or control within seven working days in writing. In addition, FPIs will have to inform in case of any penalty, pending proceedings, findings of investigations for which action may have been taken or is in the process of being taken by an overseas regulator against them within seven days. "In case of any direct or indirect change in structure or common ownership or control of the foreign portfolio investor or investor group, i

Sebi looking for ways to plug gaps allowing founders to own stock options

The Securities and Exchange Board of India (SEBI) does not want founders to own stock options if they have rights akin to those enjoyed by promoters

Delhi HC seeks Centre, RBI & SEBI response on Swamy's plea on Yes Bank

The Delhi High Court on Friday sought response of the Centre, Reserve Bank of India (RBI) and Securities Exchange Board of India (SEBI) on former Rajya Sabha MP Subramanian Swamy's plea