Page 159 - Sebi

Sebi solved 3,180 complaints in January through its SCORES platform

A total of 3,180 complaints received through SCORES against companies or market intermediaries have been disposed of in January, as per data released by markets regulator Sebi on Friday. SCORES is a redressal grievance system that was launched by the Securities and Exchange Board of India (Sebi) in June 2011. At the beginning of January, as many as 2,915 complaints were pending and 2,877 fresh complaints were received during the month. These complaints were related to refunds, allotment, redemption and interest, among others. The regulator also noted that there were 11 complaints as of January 2023, which were pending for more than three months. These complaints were related to research analyst, investment adviser, non-demat, remat and transfer/dividend/rights/redemption. The average resolution time for a complaint is 31 days, it added. In a separate public notice, Sebi mentioned eight entities against whom complaints have been pending for more than three months on SCORES as of .

Adani Group reels after report from US based short-seller Hindenburg

NEW DELHI (Reuters) - Indian tycoon Gautam Adani's conglomerate has been pummelled by a stock rout and come under increasing scrutiny after U.S. short-seller Hindenburg Research

Sebi to MF trustees: Do not rely on assurances, evaluate independently

These responsibilities include preventing undue influence of sponsors, market abuse by employees, unfair advantage to associates, conflict of interest between various parties and mis-selling

Is there pressure on NSE, SEBI to go 'easy' on Adani Group, asks Congress

The Congress alleged on Thursday that the National Stock Exchange (NSE) "failed" to take action against the embattled Adani Group and asked if there was "pressure" on the bourse and market regulator SEBI to go easy on the conglomerate. Congress general secretary Jairam Ramesh posed a set of three questions to Prime Minister Narendra Modi as part of the party's "HAHK (Hum Adani ke Hain Kaun)" series to target the government in the wake of the fraud-allegation-triggered rout in Adani Group company stocks. Ramesh alleged that the "failure" of market regulators like the Securities and Exchange Board of India (SEBI) to protect Indian capital markets has "tarnished" their image and put a question mark on the integrity of India's financial markets. In a statement addressing the prime minister, Ramesh said, "You (PM) have used strong words in the past, calling on world leaders at G20 meets 'to eliminate safe havens for economic offenders', to 'track down and unconditionally extradite money

Sebi to auction assets of Infinity Realcon, Sunheaven Agro on Mar 13

Capital markets regulator Sebi on Thursday said it will auction 9 properties belonging to four companies -- Infinity Realcon, Bharat Krishi Samriddhi Industries, Ravi Kiran Realty India and Sunheaven Agro India -- on March 13 to recover investors' money. These companies had raised funds from investors without complying with regulatory norms. The nine properties to be auctioned include land parcels and a multi-storied building, situated across West Bengal. The total reserve price of these properties is pegged at Rs 3 crore, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids, Sebi said auction of the properties will be conducted through online mode on March 13 during 10.30 am to 12.30 pm. Of the 9 properties to go under the hammer, 4 belongs to Bharat Krishi Samriddhi Industries, 3 relate to Infinity Realcon and one each of Sunheaven Agro India and Ravi Kiran Reality India. The regulator said the bidders should make their own independent enquiries ...

Aditya Birla Group announces entry into premium casual dining space

The Aditya Birla Group on Wednesday said it has entered into the premium casual dining space, a fast-growing segment in the organised food services market. The group's hospitality arm housed under Aditya Birla New Age (ABNA) has collaborated with India's well-known chef restaurateur Rahul Akerkar and will build premium casual dining restaurant chains across India. ABNA, promoted by Aryaman Vikram Birla, son of Chairman Aditya Vikram Birla, aspires to create a preferred house of F&B brands in India under its umbrella. "High disposable income among the rising middle class in India, and the expansion of the urban cosmopolitan lifestyle is driving the boom in dining out behaviour. Therefore, the demand for premium casual dining restaurants (PCDR) is expected to increase across India as consumers seek new dining experiences," Aditya Birla Management Corporation director and ABNA Founder Aryaman Vikram Birla said. Akerkar is a chef restaurateur entrepreneurs and joined ABNA's ...

Sebi proposes bondholders' nod for related party transactions for companies

The norms will be applicable to only listed non-convertible debt securities, according to SEBI

Sebi allows 39 entities to use e-KYC Aadhaar authentication services in mkt

Capital markets regulator Sebi on Wednesday came out with a list of 39 entities, including Nirmal Bang Securities, NJ Indiainvest and Muthoot Securities, that can use e-KYC Aadhaar authentication services in the securities market as sub-KYC user agency. This came after Sebi in May 2020 listed eight entities including BSE that can undertake Aadhaar Authentication service of UIDAI as KYC user agency (KUA) in the securities market. Further, a KUA can permit Sebi-registered intermediaries to undertake Aadhaar Authentication of their clients as sub-KUA for the purpose of KYC (Know Your Client). Other entities listed by the regulator include Indbank Merchant Banking Services, Orbis Financial Corporation, Indo Money Securities, HSB Securities and Equities, Flourish Fincap and Vogue Commercial Company. "The above mentioned entities shall enter into an agreement with a KUA and get themselves registered with UIDAI ( Unique Identification Authority of India) as sub-KUAs. The agreement in this

Sebi considering easing of RPT norms for high-value debt listed entities

In a discussion paper, Sebi has proposed that only HVDLEs having 90 per cent or more related party shareholders will have to send notice to debenture holders holding listed NCDs

3 more weeks to online bond platforms to register as stock brokers: Sebi

Capital markets regulator Sebi on Tuesday extended the timeline by three weeks for entities, operating as online bond platform providers, to make an application for registration as stock brokers. The extension has been given keeping in view the technical difficulties faced by these entities, the Securities and Exchange Board of India (Sebi) said in a circular. "It has been decided to grant an additional time period of three weeks commencing from February 9, 2023 (the end of three months from November 9, 2022) for making an application to obtain a certificate of registration as a stock broker under the Sebi (stock brokers) regulations," the markets watchdog said. Accordingly, the application for registration by online bond platform providers (OBPPs) as stock brokers would be made by March 1, 2023. Under the regulatory framework issued in November, Online Bond Platform Providers (OBPPs) should be companies incorporated in India and they should register themselves as stock brokers in

Stock exchanges up scrutiny of traders whose exposure exceeds income

NSE asks asked brokers to check for suspicious transactions as derivative activity surges

Sebi moots institutional mechanism for stock brokers to curb market abuse

Markets regulator Sebi on Tuesday proposed an institutional mechanism that will require stock brokers to put in place systems for detection and prevention of market abuse. Currently, there are no specific regulatory provisions that cast responsibility on brokers to have a system to prevent market abuse. In a consultation paper, Sebi has proposed a regulatory framework which will require broking firms as well as their senior management to be accountable for detection and prevention of fraud or market abuse, by setting up robust surveillance and control systems. In addition, the regulator has suggested that brokers should have appropriate escalation and reporting mechanisms. Sebi has also listed out probable instances of fraud or market abuse which a broker's system should be equipped to monitor. The probable instances can include creation of misleading appearance of trading, price manipulation, front running, insider trading and mis-selling. Unauthorised trading, including facilita

Sebi to put onus of detecting price rigging, insider trading on brokers

Asks brokers to maintain whistleblower policy, furnish action-taken report upon spotting fraud; top management to be held accountable for non-compliance

Sebi to auction assets of MPS Group, 5 others to recover investors' money

Sebi on Tuesday said it will auction 22 properties belonging to companies of MPS Group, Tower Infotech and four others on March 3 for a reserve price totalling Rs 91 crore in a bid to recover investors' money. Apart from MPS Group and Tower Infotech, the regulator has put on block properties of Vibgyor Group, Prayag Group, Multipurpose BIOS India Group and Waris Finance International Group. These companies had raised funds from investors without complying with regulatory norms. The 22 properties to be auctioned include land parcels, storied buildings, flats and a commercial space, situated across West Bengal, the Securities and Exchange Board of India (Sebi) said in a notice. Inviting bids, Sebi said auction of the properties will be conducted through online mode on March 3 during 11 am to 1 pm. Of the 22 properties to go under the hammer, 11 belong to MPS Group of companies; 3 each relate to Multipurpose BIOS India Group and Vibgyor Group of companies; two each are of Prayag Grou

General insurer Go Digit's IPO plan delayed, Sebi returns issue papers

Firm will have to refile for public issue

Sebi returns Go Digit General Insurance IPO papers; firm to refile

Markets regulator Sebi has returned the preliminary IPO papers of Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group, and now the company is looking to refile the documents with certain updates. The company had filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in August 2022 to raise funds through an initial public offering (IPO). Go Digit's proposed IPO comprises fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale (OFS) of 10.94 crore equity shares by a promoter and existing shareholders. In the OFS, Go Digit offers to sell 10,94,34,783 equity shares. According to an update with Sebi on Tuesday, the markets regulator has returned the draft papers on January 30. In a statement, the insurance company said the DRHP (Draft Red Herring Prospectus) has been returned in terms of Sebi's ICDR (Issuance of Capital and Disclosure Requirements) rules, which exempts rights granted under employee

Sebi seeks beneficial ownership details of foreign investors from banks

Foreign investors offloaded Indian equities worth Rs 288.52 billion ($3.51 billion) in January, data showed

Tightening the grip: Sebi's daily transfer diktat to further pinch brokers

In a new paper, Sebi has proposed the daily transfer of client funds to clearing corporations

Sebi asks issuers for additional disclosure in guidelines on green bonds

Capital market regulator Sebi on Monday came out with operational guidelines on green bonds asking issuers to make additional disclosure, pertaining to environmental sustainability objectives of such debt securities in the offer document. In addition, issuers of green bonds will have to disclose brief details of decision-making process followed for determining the eligibility of projects, for which the proceeds are being raised through issuance of green debt securities, Sebi said in a circular. Apart from disclosure in the offer document, the Securities and Exchange Board of India (Sebi) has asked the issuer, who has listed green debt securities, to provide certain additional disclosures along with its annual report and financial results. Also, the issuer will have to appoint a third party reviewer for a green debt security for the post-issue management of the use of proceeds from the green debt security, and verification of the internal tracking and impact reporting. Listing out .

Sebi orders bourses to release first list of 'big brokers' in a fortnight

The Qualified Stock Brokers, or QSBs, will be required to analyse client behaviour and trading patterns, and detect unusual activity