Page 41 - Sebi

Sebi introduces document number verification system for transparency

Markets regulator Sebi on Thursday launched a 'document number verification system' to ensure verifiability of all documents issued by it. This has been launched keeping in mind the public interest and transparency in the functioning of the Securities and Exchange Board of India (Sebi). Under the system, any physical communication such as letters, notices, show-cause notices and summons issued by Sebi will bear an outward number, which is unique for every communication issued by the regulator, according to a statement. The process intends user verification through authentication of the one-time password (OTP) generated on the mobile number of the recipient(s) or any other person acting on their behalf who may then enter such outward number as well as other credentials like sender's name, date of the communication and the name of the recipient to verify the issuance of such communication by Sebi. The verification process, however, does not include the verification of contents of the

Sebi launches system to verify authenticity of notices and summons

Sebi warns NSDL for compliance on centralised database

MRN Chamundi pays ₹56 lakh to settle market norms violation case with Sebi

MRN Chamundi Canepower and Biorefineries has settled a case with capital markets regulator Sebi over alleged violations of the Companies Act, after paying Rs 56 lakh towards the settlement amount. The order came after MRN Chamundi filed a suo motu settlement application under the norms proposed to settle by neither "admitting nor denying the findings of fact and conclusions of law". "It is hereby ordered that any proceedings that may be initiated for the violations are settled in respect of the applicant (MRN Chamundi Canepower and Biorefineries)," Sebi's whole-time members Amarjeet Singh and Kamlesh C Varshney said in the order on Tuesday. As per the settlement order, the markets watchdog will not initiate enforcement proceedings against MRN Chamundi Canepower for the violations. However, Sebi retained the right to take further action if any misrepresentation is discovered or if the company breaches any terms of the settlement. The violations pertained to the allotment of equity .

Sebi imposes Rs 5.2 crore penalty on OPG Securities in NSE co-location case

New order following SAT directions to recalculate the disgorgement and penalty amounts

Sebi allows advisers, analysts to charge advance fees for up to a year

Capital markets regulator Sebi on Wednesday allowed investment advisers and research analysts to charge advance fees for up to one year. Under the existing rules, investment advisers (IAs) can charge fees in advance for up to two quarters if agreed upon by the client, while for research analysts (RAs), it was only for a quarter. "If agreed by the client, IAs and RAs may charge fees in advance, however, such advance shall not exceed fees for a period of one year," the Securities and Exchange Board of India (Sebi) said in its circular. The fee-related provisions such as fee limit, modes of payment of fees, refund of fees, advance fee, and breakage fees will only be applicable in the case of their individual and Hindu Undivided Family (HUF) clients (provided these clients are not accredited investors). These provisions will not be applicable in the case of non-individual clients, accredited investors, and in case of institutional investors seeking the recommendation of a proxy ...

Sebi extends NSDL share listing deadline to July 31, 2025 for IPO prep

Capital markets regulator Sebi has granted an extension for the listing of National Securities Depository Ltd (NSDL) shares until July 31, 2025, the depository announced. This extension comes after the depository sought an extension from the Securities and Exchange Board of India (Sebi). According to NSDL's statement, "Sebi, vide its letter dated March 28, 2025, has granted an extension for the listing of shares of NSDL on a recognised stock exchange until July 31, 2025, subject to the conditions." Market experts suggest that this extension will give NSDL ample time to ready itself for the Initial Public Offering (IPO) and to launch it when market conditions are more favourable. Sebi granted its go-ahead to NSDL in September 2024 to float its IPO. The depository had filed its draft papers in July 2023. The proposed IPO will be a complete Offer For Sale (OFS) of over 5.72 crore equity shares by existing shareholders, including the National Stock Exchange of India (NSE), State Bank

Relief for brokers as stock exchanges ease technical glitch norms

The exchanges have also revised the list of instances that will be considered a technical glitch, excluding those where the broker is not at fault

Clearing corporation ownership shift remains shrouded with uncertainty

Sources say diversified shareholding may create challenges in fundraising, will add complexities

Link Intime India pays ₹14.5 lakh to settle norms violation case with Sebi

Link Intime India on Tuesday settled a case with markets regulator Sebi for alleged violation of market norms after paying Rs 14.5 lakh towards the settlement amount. Link Intime India (now known as MUFG Intime India), a registrar to an issue and share transfer agent, had filed a settlement application on December 20 last year, the regulator said in the order. The order came after the applicant (Link Intime India) proposed to settle the instant proceedings initiated against it, without "admitting or denying the findings of facts and conclusions of law". As per the settlement order, the markets watchdog will not initiate enforcement proceedings against Link Intime India for the violations. However, Sebi retained the right to take further action if any misrepresentation is discovered or if the company breaches any terms of the settlement. "...in view of the acceptance of the settlement terms and... settlement amount by Sebi, the instant adjudication proceedings initiated against ...

SC asks TMC MP Mahua Moitra to approach Sebi for public disclosure of FPIs

The Supreme Court on Tuesday asked TMC MP Mahua Moitra to make a detailed representation to the SEBI on mandating public disclosure of portfolio holdings of alternative investment funds and foreign portfolio investors (FPIs). A bench of Justices B V Nagarathna and Satish Chandra Sharma passed the order while hearing Moitra's plea for a direction to the Securities and Exchange Board of India (SEBI) to mandate public disclosure of ultimate beneficial owners and portfolio of alternative investment funds (AIFs), FPIs and their intermediaries in India. While disposing of Moitra's plea, the bench said once such a representation would be made, the same be considered in accordance with law. Advocate Prashant Bhushan, appearing for Moitra, said the regulations of SEBI require normal mutual funds and other investors to disclose who were these people who were investing, in which companies they were investing. "So far as these two categories (AIFs and FPIs) are concerned, no disclosure is ...

Bombay HC extends stay on FIR order against ex-Sebi chief Buch, 5 others

"The interim relief granted earlier shall continue until further orders," HC said posting the matter for further hearing on May 7

ESDS Software Solution files draft papers with Sebi for Rs 600 crore IPO

Cloud infrastructure and data center services provider ESDS Software Solution Ltd has filed preliminary papers with capital markets regulator Sebi to mop up Rs 600 crore through an initial public offering (IPO). The IPO is solely a fresh issue with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on March 30. This marks the company's second attempt to go public. Previously, the company had filed draft papers for its IPO in September 2021. The company may consider raising Rs 120 crore through a pre-IPO placement round. If such a placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue to the extent of Rs 480.7 crore will be used for purchase and installation of cloud computing and other equipment and other infrastructure for the Data Centres and the remainder funds for general corporate purposes. ESDS Software Solution provides the entire spectrum of cloud, managed services, data centre infrastructure a

IPO Alert! Jain Resource Recycling files draft papers with Sebi; details

The company seeks to raise up to ₹2,000 crore from the public issue, which comprises both a fresh issue as well as an offer for sale of equity shares

SIS Cash Service IPO to raise Rs 100 cr, promoters offer 3.7 mn addl shares

Cash logistics player SIS Cash Service Ltd has filed draft papers with the market regulator Sebi to mop up funds through an initial public offering (IPO). The IPO is a mix of fresh issue of shares worth Rs 100 crore and an offer for sale (OFS) of 37.15 lakh shares by promoters, according to the draft red herring prospectus (DRHP) filed on Thursday. Those selling shares in the OFS are SIS Ltd and SMC Integrated Facility Management Solutions Ltd. Proceeds from the fresh issue to the tune of Rs 37.59 crore will be used for the purchase of cash vehicles and fabrication of the secured vehicle; Rs 29.81 crore for payment of debt and a portion will be used for general corporate purposes. SIS Cash Services is the second-largest player in the industry by revenue for fiscal 2024, with an estimated market share of 17-18 per cent, according to a Crisil report. The company operates under the trademark SIS Prosegur, while its wholly-owned material subsidiary, SIS Prosegur Holdings, operates un

Park Medi World files for ₹1,260 cr IPO, includes ₹300 cr shares on offer

Park Medi World, which operates the hospital chain under the Park brand, has filed preliminary papers with markets regulator Sebi seeking its approval to raise Rs 1,260 crore through an initial public offering (IPO). The IPO is a combination of fresh issue of shares worth Rs 900 and an offer for sale (OFS) of shares valued Rs 300 crore by promoter Ajit Gupta, according to the draft red herring prospectus (DRHP) filed on Friday. Furthermore, the company may consider a Pre-IPO Placement of up to Rs 192 crore. If such placement is completed, the amount raised will be reduced from the fresh issue size. The company plans to use the proceeds worth Rs 410 crore for payment of debt and Rs 110 crore will be allocated for funding capital expenditure related to the development of a new hospital and the expansion of an existing hospital by its subsidiaries, Park Medicity (NCR) and Blue Heavens, respectively. A further Rs 77.19 crore is earmarked for the purchase of medical equipment by the ..

Sebi eases intraday monitoring rules for index derivatives amid opposition

As per a circular issued on Friday, any breaches of existing limits will not attract penalties - for now - following concerns raised by industry stakeholders

NSE looks to assuage Sebi concerns around IPO, seeks nod to file DRHP

Underscores steps taken to bolster technology, governance

Sebi includes Green Credit Program under BRSR framework

Capital markets regulator Sebi on Friday decided to include disclosure pertaining to the 'Green Credit Program' by listed companies under the Business Responsibility and Sustainability Reporting (BRSR) framework. The Green Credits can be generated by a listed company and its value chain partners through plantations of trees on waste or degraded lands and river catchment areas. In its circular, Sebi said that 'green credits' generated by the listed company and their top 10 value chain partners can be added as a leadership indicator under Principle 6 of BRSR, which states that businesses should respect and make efforts to protect and restore the environment. This new requirement will be applicable for BRSR disclosures starting from FY 2024-25 and onwards. The disclosure is also in line with the Ministry of Environment, Forest and Climate Change notification issued in February 2024. In addition, Sebi has redefined 'value chain partners', which now encompass the upstream and downstrea

Front running case: Sebi bans 5 from mkts for 1 year, impounds Rs 1.53 cr

Capital markets regulator Sebi on Friday barred five individuals from the securities markets for one year and directed them to impound illegal gains of nearly Rs 1.53 crore made from their front-running activities. The regulator also imposed a penalty of Rs 10 lakh on Nikhil Khaitan, and Rs 5 lakh on Om Prakash Khaitan, Manju Khaitan, Neha Khaitan, and Nidhi Tibrewal. Front-running refers to an illegal practice in the stock market where an entity trades based on advanced information from a broker or analyst before the information has been made public. "... noticee No 1 (Nikhil Khaitan), while being dealer of the Big Clients and having knowledge of... impending orders, front ran the trades of big clients by using trading account of the FRs (Noticee No. 2, 3, 4 and 5) during the IP (investigation period) and gained benefit from non-public information," Sebi said in a 49-page final order. Sebi also stated that the noticees in the process of front running trades of the big client have

Sebi issues framework for fast-track follow-on offer by REITs, InvITs

Markets regulator Sebi on Friday came out with a framework for undertaking fast-track follow-on offers by REITs and InvITs to make fundraising more efficient. Additionally, the regulator has prescribed a lock-in provision of three years for the preferential issue of units of REITs (real estate investment trusts) and InVITs (infrastructure investment trusts) allotted to sponsors. In its circulars, Sebi said 15 per cent of the units allotted to sponsors and sponsor groups will be locked in for a period of three years from the date of trading approval granted for the units. Further, the remaining units allotted to them will be locked in for one year from the date of trading approval granted for the units. Besides, Sebi has clarified on inter se transfer of units among the sponsor or sponsor group entities within a REIT or InvIT. With regards to the follow-on offer, Sebi said the FPO is one of the mechanisms for raising funds subsequent to the issue of units after the initial public .