Page 157 - Sebi

Sebi bans Capital Worth, its partners from securities market for 3 years

Sebi has banned Capital Worth Research House and its partners from the securities market for a period of three years for providing unauthorised investment advisory services. Besides, they have been directed to refund more than Rs 1.54 crore to clients within three months. The debarment of the entity and its partners will continue till the expiry of three years from the date of completion of the refund to investors, according to an order passed on Wednesday. Capital Worth is a partnership firm and its partners are Ankit Shrivastav, Mohammed Aamir Shaikh, Shahid Rangrej and Sameer Memon. Sebi found that Capital Worth by engaging in the activities and holding itself out as an 'investment adviser', without having a valid certificate of registration violated Investment Adviser (IA) rules. The regulator also noted that the partners of Capital Worth are fully responsible for the contravention committed by the firm. More than Rs 1.54 crore was credited in the account of Capital Worth bet

Sebi plans to make registration mandatory for ESG rating providers

Sebi proposes framework for ESG scoring parameters and rating providers in fresh consultation paper

The Adani affair

Doubts about India's corporate governance norms and integrity of its financial markets?

Sebi proposes to tighten regulations on issuance of bonus shares

The market watchdog noted that the proposed change will help mitigate the mismatch between the listed capital and issued capital of the issuer

Sebi beefs up cybersecurity measures for regulated intermediaries

Sebi has also advised the entities to encrypt sensitive and personally identifiable information (PII) data, specifically in transit, to protect its access from any attacker

Market regulator Sebi proposes to introduce 5 new categories in ESG funds

Capital markets regulator Sebi has proposed allowing mutual funds to introduce five new categories under ESG (environmental, social and governance) scheme. The five new categories should be 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. Considering that AMCs may want to launch multiple diversified ESG schemes under the ESG category, Sebi has proposed that each asset management company should be permitted to launch one ESG scheme each under the five subcategories. ESG schemes under the proposed new category should be permitted with a minimum 80 per cent investment of total assets in equity or debt stocks of a particular theme as per the sub-categories. However, the residual portion of the investment should not be starkly in contrast to the philosophy of the scheme. "AMCs should endeavour to have a higher proportion of the

Sebi proposes change in governance norms to give more power to shareholders

Such rights are against the fundamental principles of corporate governance and shareholder democracy, according to the regulator

Top headlines: Mega push for Jal Jeevan mission, India inks pact with UAE

Business Standard brings you the top headlines at this hour

Practice of permanent board seats at listed companies likely to end

Regulator also proposes stricter norms for binding agreements, special rights and slump sales

Jobs in small towns, gender diversity to earn India Inc better ESG ratings

Market regulator Sebi proposes new rating parameters better suited to domestic context

Sebi imposes Rs 62 lakh fine on 6 entities for fraudulent trading

Capital market regulator Sebi on Tuesday imposed fines totalling Rs 62 lakh on six entities for indulging in fraudulent trade practices in the shares of North Eastern Carrying Corporation Ltd (NECC). The regulator slapped a fine of Rs 15 lakh on Realstep Agencies, Rs 10 lakh each on Utkarsh Jain, Vanya Jain (promoters of NECC), Sairabanu Mohd Rafiq Fanaswala and Malatiben Ashokbhai Darji and Rs 7 lakh on Charamsukh IT Marketing. The order came after Sebi carried out an investigation in the scrip of NECC for the period from December 2016 to April 2017. It was alleged that Utkarsh, Vanya, Realstep, Fanaswala, Darji and Charamsukh IT Marketing had violated the provisions of PFUTP (Prohibition Of Fraudulent And Unfair Trade Practices) norms. The regulator found in its investigation that Utkarsh and Vanya sold shares and created misleading appearance of trading in the market for the days on which such trading took place. The trades bypassed the normal market mechanism, affecting intere

Baring Private Equity India pays Rs 16.57 lakh to settle case with Sebi

Baring Private Equity India Investment Manager LLP has settled with markets regulator Sebi a case pertaining to alleged flouting of AIF rules. This came after Baring Private Equity (noticee) proposed to settle the proceedings through a settlement order "without admitting or denying the findings". In the settlement order passed on Monday, Sebi said, "The instant adjudication proceedings initiated against Baring Private Equity India Investment Manager LLP vide SCN dated on May 12, 2022 is disposed of". The Securities and Exchange Board of India (Sebi) had initiated the adjudication proceedings for the alleged violation of AIF (Alternative Investment Fund) norms. Thereafter, the regulator issued a show cause notice (SCN) to the noticee on May 12, 2022, for violating AIF rules. Pending adjudication proceedings, the noticee filed a settlement application with Sebi to settle the case. The regulator recommended the settlement of instant proceedings upon payment of Rs 16.57 lakh. After t

Sebi issues consultation paper on disclosure requirements for listed firms

Capital markets regulator Sebi on Monday came out with a consultation paper on streamlining disclosure requirements by listed entities. In its consultation paper, Sebi is looking to address the challenges faced with regard to submission of the financial result for the first time by newly listed firms and related to timeline to fill up vacancy of directors, Compliance Officer, Chief Executive Officer (CEO) and Chief Financial Officer (CFO) in listed entities. Also, it is looking to address the issue of freezing of demat accounts of the Managing Director, Whole-time director and CEO of a listed entity for continuing non-compliance with the LODR Regulations or non-payment of fines by a listed entity. In order to provide adequate time to newly-listed entities to disclose their first financial results post-listing, Sebi has proposed that at least 15 days from the date of listing may be provided for such disclosures to newly-listed entities. "Listed entity, post listing, shall submit its

Sebi levies Rs 11 lakh penalty on 7 entities for violating market norms

Capital market regulator Sebi on Monday levied fines totalling Rs 11 lakh on seven entities for flouting regulatory norms in the matter related to SS Organics Ltd (now known as Oxygenta Pharmaceutical Ltd). The regulator slapped a fine of Rs 5 lakh on SS Organics Ltd (SSOL) and Rs 6 lakh on six individuals -- Sai Sudhakar Vankineni, D Sadasiva Reddy, Gunreddy Krishna Reddy, Muralidhar Rambathri, Rajasekhar Reddy Puchakayala and Raghavender Rao. The order came after Sebi conducted an examination in respect of the process followed by SSOL for approval and disclosure of related party transactions with ARR Capital Investment Pvt Ltd. The focus of the examination was to ascertain if there was any possible violation of LODR (Listing Obligations and Disclosure Requirements) rules. The regulator found that a loan transaction of Rs 15 crore executed between ARR and SSOL, which was further extended to Rs 35 crore, was more than the turnover of the firm for FY2019-20. Hence, the transaction

Motilal Oswal AMC introduces new features in SWP; calls it 'FAB' plan

At the heart of this offering is the company's vision to give investors more control when planning their long-term financial goals and lifestyle choices

Sebi aims to prune costs further for MF investors, may bring GST under TER

May also include transaction costs within total expense ratio instead of allowing it as cost of investment, say sources

L&T MF and ex-officials settle inter-scheme transfer case with Sebi

The matter pertains to inter-scheme transfers of L&T Mutual Fund for the period between April 01, 2017 and June 30, 2018

Why related party transactions may need more regulatory attention

The practice picked up during the pandemic, come into focus as Adani controversy unfolds

Global body Iosco flags challenges to operational independence

Iosco says Sebi, 4 other securities regulators in-line with all its principles but one

Confirming compliance

Forensic audit of fund houses will boost confidence