Page 161 - Sebi

Hindenburg report: Sebi discusses Adani firms with ratings agencies

SEBI asked about the maturity profile of Adani Group debts, its liquidity, the founder's leverage and the overall rating process

Sebi penalises 15 entities for manipulating BFL Asset Finvest stock prices

Capital markets regulator Sebi on Tuesday levied fines totalling Rs 89 lakh on 15 entities for manipulating the share prices of BFL Asset Finvest Ltd (BAFL). The entities have to pay the said penalty jointly and severally. The regulator slapped a fine of Rs 54 lakh on Babulal Hansraj Lakhani, Ramanlal Ravchand Shah, Vinod Solanki, Bhagavatiben Vishnubhai Patel, Dhirajbhai Baladevji Thakor, Bharti Sharma, Pinesh Nareshkumar Shah, Jasmin Indu Shah and Mahendrabhai Naranbhai Patel. It also imposed a penalty of Rs 30 lakh on Nishant Jain, Pradeep Kumar Jain, Dharmendra Kumar Jain, Dharmendra Jain HUF, Jaipur Infragold and Rs 5 lakh on Rajiv Maheshwari. The order came after Sebi conducted an investigation into the trading activity in the scrip of BAFL during the period from February 2016 to June 2017. The shares of the BAFL are listed on the BSE. During the investigation, the regulator observed certain violations of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms.

Sebi bans 14 entities from securities market for 4 years period

Regulator Sebi on Monday barred 14 entities from the securities market for four years and imposed a penalty totalling Rs 70 lakh on them in a case pertaining to front-running by some former dealers of Reliance Securities Ltd and their connected entities. They have been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. In addition, they have been asked to disgorge Rs 4.23 crore of unlawful gains made by them, along with an interest of 12 per cent. In its order, Sebi found that entities with the help and cooperation of each other/ by being in nexus with each other, in a pre-determined manner were successful in front-running the impending orders of Tata Absolute Return Fund, a scheme of Tata AIF (Big Client). Tata AIF is a Sebi-registered alternative investment fund. Pursuant to the nexus, they have front-run the orders of the Big Client on multiple occasions during the investigation period and have made considerable wrongful

FirstMeridian files new draft papers for IPO; cuts issue size to Rs 740 cr

Staffing firm FirstMeridian Business Services Ltd has refiled preliminary papers with capital markets regulator Sebi and reduced its Initial Public Offering (IPO) size to Rs 740 crore from Rs 800 crore planned earlier. The initial share-sale comprises fresh issuance of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of Rs 690 crore, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi on Friday. As a part of the OFS, promoter Manpower Solutions Limited will sell shares worth Rs 615 crore while existing shareholders New Lane Trading LLP and Seedthree Trading LLP would sell shares worth Rs 42.5 crore and Rs 32.5 crore, respectively. The company, which counts Adani Ports and Special Economic Zone, Dell International Services India, PhonePe, Usha International, Exide Industries and Eureka Forbes as some of its key clients, has proposed to utilise the net proceeds from the fresh issue towards the payment of debt and general corporate purposes. JM Financial,

The real gainers from F&O 'casino'

Whether they make or lose money, traders have to incur transaction costs, including brokerage, exchange fees, turnover fees, and securities transaction tax, etc.

Quick settlement

T+1 will increase liquidity

Adani confident of FPO sailing through; Sebi, other bodies probing sell-off

Richest Asian Gautam Adani's group on Sunday expressed confidence that the Rs 20,000 crore follow-on share sale of its flagship firm will sail through despite a massive hammering of the conglomerate's stocks following a scathing report by a US-based short seller. Group CFO Jugeshinder Singh said no change in offering price or schedule is being considered due to temporary volatility in the market as the follow-on public offer (FPO) of Adani Enterprises Ltd is the best vehicle for strategic institutional investors to own a pie of the conglomerate's fast expanding airports, mining, roads, new energy and data centre businesses. All seven Adani group companies' stocks fell sharply over the last two trading sessions, wiping out Rs 10.7 lakh crore of investor wealth after Hindenburg Research alleged that the ports-to-energy-to-cement conglomerate had engaged in "brazen stock manipulation and accounting fraud" for decades. The sell-off is being looked into by market regulator SEBI and stock

Sebi may probe short selling to hammer down Indian markets: Report

The votaries of short selling consider it as a desirable and an essential feature of a securities market

Market regulator Sebi increases scrutiny of Adani group deals: Sources

The regulator had sought clarity from the group on these entities when the group approached it for regulatory clearance last year. These responses are under regulatory examination, sources said

Sebi bans 24 entities from for three years in Sulabh Engineers matter

Sebi on Friday barred 24 entities from the securities markets for three years for indulging in the manipulation of the stock price of Sulabh Engineers and Services Ltd. The order will come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in its order. The order came after the Securities and Exchange Board of India (Sebi) conducted an investigation in the scrip of Sulabh Engineers to ascertain whether there were any violations of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms by 150 entities in the company's stock during the period December 2011 to January 2015. Following this, Sebi in its order in September 2020, concluded that 102 entities had violated PFUTP rules and restrained them from accessing the securities market. It also disposed of the show-cause notice against 47 other entities. In its order, Sebi noted that the company had come out with two preferential allotments during March 2011 and March 2012. Thereafter,

Congress demands SEBI inquiry on Adani group over Hidenburg report

The allegations require serious investigation by those who are responsible for the stability and security of the Indian financial system, viz. the RBI and the SEBI

9 out of 10 individual traders in F&O segment making losses: Sebi

Nine out of 10 individual traders in the equity F&O segment incurred net losses during both the years FY 2018-19 and FY 2021-22, according to a study by market regulator SEBI.

TMS Ep355: Pathaan movie, women in JEE-Mains, markets, disgorgement order

What explains Pathaan's blockbuster opening? What does higher female participation in JEE-Mains tell us? How to position your trade ahead of the Budget? What is a disgorgement order? All answers here

Sebi penalises PMIA, directors for Rs 28 lakh for violating market norms

Sebi on Wednesday levied penalties totalling Rs 28 lakh on Pinnacle Market Investment Advisory (PMIA) and its directors for violating regulatory norms. PMIA is a Sebi-registered Investment Adviser (IA) and its directors are Abhishek Patel, Shekhar Mishra and Parul Sahu. The regulator slapped a fine of Rs 13 lakh on PMIA and Rs 5 lakh each on Patel, Mishra and Sahu. In addition, Sebi directed PMIA and its directors to resolve the complaints pending against Pinnacle in SCORES within seven days and further settle pending refunds within thirty days. Also, the regulator restrained them from the securities market and also restricted them to issue prospectus, offer document or solicit money for a period of three years. Further, the regulator prevented PMIA and its directors from selling their assets, properties and mutual funds held by them in demat and physical form for other than the purpose of making the refunds. The order came after Sebi received multiple complaints against PMIA. T

Sebi study suggests 89% retail traders in equity F&O suffered losses

Sebi on Wednesday said it will soon issue guidelines on additional risk disclosures required to be made by brokers and exchanges to investors as its study suggested that every 9 in 10 individual traders in the equity F&O segment suffered losses in FY 2021-22. The findings, part of a study conducted by the regulator under the supervision of a working group, analysed the trading by individual investors with regard to net profit or loss encountered by them in the equity F&O (Futures & Options) segment for the period FY19 and FY22 only. The study is based on a sample of all individual clients of all the top-10 stock brokers, accounting for 67 per cent of the overall individual client turnover in the equity F&O segment during FY 2021-22. It revealed that 89 per cent of the individual traders (9 out of 10 individual traders) in the equity F&O segment incurred losses, with an average loss of Rs 1.1 lakh during FY22. Moreover, 90 per cent of the active traders incurred ...

Sebi to introduce more safeguards for F&O as traders' losses mount

Regulator's study on F&O segment shows over 90% traders incurred losses in FY22, with the average hit over 15x the earnings of the 10% who made profits

Sebi bans entities from market in unauthorised investment advisory case

Sebi on Wednesday barred Safe Trader and its proprietor Rajnandani Jalkhediya from the securities markets for providing unauthorised investment advisory services and also imposed a penalty of Rs 2 lakh on them. In addition, they have been asked to refund Rs 39.64 lakh collected from the clients as fees in respect of their unregistered investment advisory activities. In its order, Sebi found that the entities were providing investment advisory services without obtaining a registration certificate from the regulator, which was in violation of the provisions of Investment Advisers (IA) rules. The order revealed that over Rs 39 lakh were credited in the accounts of the entities between August 2020 and July 2021. "The noticees (Safe Trader and its proprietor) without holding a certificate of registration as investment adviser have knowingly disseminated false information/made misleading statements and held themselves out as investment adviser on their website. Thus, I find that the ...

Best of BS Opinion: Deficient regulation, structural strength, and more

Here is the best of Business Standard's opinion pieces for today

Former Sebi-chief Damodaran launches midcap corporate governance index ATOM

Airawat Indices Pvt Ltd, a joint venture firm founded by former Sebi Chairman M Damodaran and Decimal Point Analytics, has launched a new index ATOM, comprising 30 midcap companies listed on stock exchanges. ATOM (Airawat Touchstone MidCap Index) is a thematic index designed to serve investors seeking to invest in "well-governed mid-cap companies", the company said in a release. The joint venture has selected these 30 midcap companies from the AMFI's (Association of Mutual Funds in India) list of midcap 150 stocks as the starting point of its scoring methodology. Damodaran, former Chairman of UTI and IDBI, also announced a Corporate Governance Index for midcap companies. The methodology to select the 30 companies in ATOM captures the financial quality and corporate governance standards of the AMFI midcap universe, it said, adding the index is reconstituted every six months based on revisions AMFI makes to its list of 150 midcap companies. Speaking at the launch of ATOM, Damodaran

Latest SAT relief colocation matter to free up Rs 1,000 cr for NSE

Tribunal prunes penalty on bourse from Rs 1,100 cr to just Rs 100 cr; Sebi told to refund excess amount in six weeks along with interest