Page 48 - Sebi

Sebi cancels registration of 19 foreign venture capital investors

Among the 14 entities whose strike-off dates were available, 11 had been defunct for more than five years, while three had been defunct for periods ranging from 10 months to three years

Sebi cancels registration of 19 FVCI cos for failing to meet eligibility

Capital markets regulator Sebi on Tuesday cancelled the registration of 19 defunct FVCI (Foreign Venture Capital Investors) after they failed to meet the eligibility criteria. The 19 entities include Axis Capital Mauritius, Axis India Infrastructure Holdings, Blackstone Capital Partners (Singapore) VI FVCI Pte Ltd, P6 Asia Holding Investments (Cyprus) Ltd, Pequot India Mauritius IV, Ltd and Omega FVCI Investments Pte Ltd. In its order, Sebi noted that these defunct FVCI companies are no longer in existence as incorporated entities in their respective jurisdictions and thereby no longer satisfy the condition of being an entity incorporated outside India as stipulated in the FVCI Regulations. The regulator observed from the website of the Business Registration Department of Mauritius, Cyprus and Singapore, that the status of 19 FVCIs in their parent jurisdictions was defunct. Additionally, the entities had not informed Sebi about the change in their regulatory status -- the entitie

IPO Rush: Hero Fincorp, LG Electronics, 64 others aim for D-street debut

A total of 66 companies have submitted applications for IPOs, with highly anticipated offerings from Hero Fincorp and LG Electronics awaiting approval from the capital market regulator, Sebi

Explained: Why Sebi has banned 2 portfolio firms from accepting new clients

Sebi on Monday barred Scient Capital and DGS Capital Management from onboarding new clients and accepting additional funds or securities from existing clients after they failed to maintain the minimum

Market regulator Sebi panel to discuss MF-insurance combo product

JanNivesh launch: Buch signals Sebi review, SBI MF scraps fees to push micro SIPs

Sebi issues comprehensive T&C for clients of investment advisors, analysts

The MITC, a two-page document, has been standardised by Sebi in collaboration with the respective industry standards forums for IAs and RAs

Sebi notifies procedure to amend rules, mandates public consultation

To bring more transparency, markets watchdog Sebi has specified a new procedure for making regulations, mandating public consultation and for engagement of stakeholders for modifying norms. In a gazette notification, the regulator has notified Sebi (Procedure for making, amending, and reviewing of regulations) Regulations, 2025. To make regulations, Sebi will publish on its official website the proposal containing the suggested changes to the policy; a statement of the regulatory intent and objectives of the proposed regulations; and the manner, process and timelines for receiving public comments. "A minimum of 21 calendar days shall ordinarily be provided for receiving public comments", Sebi said. On receipt of public comments, the rationale for rejection, if any, of comments will be published on the Sebi's official website. Thereafter, the proposed regulations and the related agenda paper will be considered by Sebi. If the agenda paper has been prepared following a public ...

Sebi updates CAS timelines, extends PAN data deadline to 5 days

The regulator's new circular mandates AMCs and MF-RTAs to submit common PAN data to depositories within five days of month-end, instead of the previous three-day deadline

Sebi cracks down on REITs, InvITs with tougher financial disclosure rules

SEBI is tightening the rules around financial disclosures by REITs and InvITs to make sure that investors have access to clear, detailed, and up-to-date financial information

The eventful battle for Religare Enterprises tests Sebi's takeover code

Some legal experts believe the case may indicate the need for a review of Sebi's takeover norms

Sebi revises timelines for issuance of consolidated account statements

Capital markets regulator Sebi has revised the timelines for the issuance of Consolidated Account Statements by depositories to enhance compliance ease. In a circular issued on Friday, the regulator said the asset management companies (AMCs) and mutual fund registrar and transfer agents (MF-RTAs) are required to provide common PAN data to the depositories within five days from the end of the month, instead of the earlier three-day deadline. After receiving the data, the depositories will then consolidate and dispatch the CAS to investors who opt for electronic delivery (e-CAS) by the 12th day of the month and to those preferring physical copies by the 15th day from the month-end, it noted. Under the revised framework, in respect of half yearly CAS, Sebi decided that "the AMCs/MF-RTAs shall provide the data with respect to the common PANs to the depositories on or before 8th day of April and October every year". Also, the depositories will then consolidate and dispatch the consolida

Sebi issues rules for disclosure on related party transaction approvals

Markets regulator Sebi has introduced industry standards for the minimum information that listed entities are required to provide to the audit committee and shareholders when seeking approval for the related party transactions (RPT). The Industry Standards Forum (ISF) comprising representatives from three industry associations -- ASSOCHAM, CII and FICCI -- have formulated these standards for minimum information to be provided for review of the audit committee and shareholders for approval of RPTs in consultation with Sebi under the aegis of the stock exchanges. The industry associations and stock exchanges will publish these standards on their websites to facilitate a uniform approach and assist listed entities in complying with the requirements, the Securities and Exchange Board of India (Sebi) said in a circular on Friday. The new disclosure requirements will come into effect from April 1, it added. Under Sebi's LODR (Listing Obligations and Disclosure Requirements) rules, relate

Sebi to tighten related party transaction disclosure norms for listed firms

Chairperson announces while unveiling new portal to track India Inc RPTs

Sebi turns down Danny Gaekwad's plea for competing open offer for Religare

Regulator says application 'frivolous', not backed by financial capabilities; also questions due diligence of investment banker

Sebi extends timeline for AIFs to hold their investments in demat form

Sebi on Friday said it has relaxed the timeline for alternative investment funds to hold their investments in dematerialised (demat) form. According to a circular, any investment made by an AIF on or after July 1, shall be held in dematerialised form only, irrespective of whether the investment is made directly in the investee company or is acquired from another entity. However, any investments made prior to July 1, are exempted from the requirement of being held in dematerialised form, except in specific cases, it added. Under the revised framework, the regulator stated that investments made before July 1, must be converted into dematerialised form before October 31. If, the investee company of the AIF has been mandated to facilitate dematerialisation or if the AIF exercises control over the company along with other Sebi-registered entities required to hold investments in demat form, the circular said. The markets watchdog has also granted exemptions to schemes of AIFs whose tenu

ICICI Securities settles broker rule breach case with Sebi for Rs 80.4 lakh

Brokerage firm ICICI Securities on Friday settled with markets regulator Sebi a case of alleged violation of stock brokers rules as well as other market norms after paying Rs 80.4 lakh towards settlement fee. The order came after ICICI Securities filed a settlement application in August last year, requesting the regulator for the settlement of the adjudication proceedings under the Sebi's (Settlement Proceedings) rules. "...the instant adjudication proceedings initiated against the applicant (ICICI Securities) vide show cause notice dated June 19, 2024, is disposed of in terms of the Settlement Regulations," Sebi's chief general manager and adjudicating officer N Hariharan said. The case stemmed from a joint inspection conducted by Sebi and NSE in September 2023, covering the period from April to May 2023. The inspection found multiple non-compliances related to margin trading facility (MTF), software issues, and reporting lapses allegedly flouting stock broker rules and other mark

Sebi rejects Digvijay Gaekwad's application seeking open offer in Religare

Capital markets regulator Sebi on Friday dismissed an application filed by Digvijay Laxhamsinh Gaekwad seeking an exemption to make a competing open offer for a majority stake in Religare Enterprises Ltd (REL). Sebi in an order stated that the price offered by Gaekwad was Rs 275 per share in the proposed open offer which was Rs 40 higher than the Burman Group's offer of Rs 235 per share. The applicant (Danny Gaekwad Developments & Investments, Florida) has failed to demonstrate his ability to meet the financial obligation for making the competing open offer, it stated. The markets watchdog also observed that the "applicant has failed to deposit Rs 600 crore, as directed by the Supreme Court of India vide its order dated February 7, 2025 read with order dated February 12, 2025, which would have shown the applicant's commitment towards making the competing open offer". In the absence of adequate proof of financial resources required for making the competing open offer, the ...

Sebi seeks broader powers to curb unauthorised financial advice online

The request comes as the regulator has intensified investigations into market violations and clamped down on unregulated financial advice circulating on social media

Innovatiview India files draft papers with Sebi for Rs 2,000 crore IPO

Noida-based Innovatiview India, has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,000 crore through an initial public offering. The proposed Initial Public Offering (IPO) is entirely an Offer-For-Sale (OFS) of equity shares worth up to Rs 2,000 crore by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday. The OFS consists of the sale of shares worth up to Rs 800 crore each by Ashish Mittal and Ankit Agarwal, and up to Rs 320 crore worth of shares by Vishal Mittal and Abhishek Agarwal will be offloading shares for Rs 80 crore, respectively. Since the IPO is entirely an OFS, the company will not receive any funds from the issue and the proceeds will go to the selling shareholder. Innovatiview India is a technology-driven company providing automated ancillary security and surveillance solutions for examinations, elections and large-scale events pan-India. As of September 30, 2024, the company is the largest player for examina

Paytm Money settles Sebi norm violation allegations for Rs 45.5 lakh

In a separate development, Paytm Money announced the appointment of Rajeev Krishnamuralilal Agarwal as an additional non-executive independent director on its Board