Page 49 - Sebi

Sebi seeks greater access to social media records to curb market violations

This is the second time since 2022 that the Securities and Exchange Board of India (Sebi) has sought such powers, with approval from the government still pending

Sebi platform MITRA to help investors trace inactive mutual fund folios

Digital facility will help investors who have over time lost track of subscriptions due lack of updated contact information, other reasons

Sebi issues manual to provide guidance on Industry Standards Fora

Sebi on Wednesday said it has released the Industry Standards Recognition Manual to provide guidance on the formation and functioning of Industry Standards Fora, which help in implementing regulatory instructions. The Securities and Exchange Board of India (Sebi) had launched a pilot programme for Industry Standards Fora (ISFs) in July 2023, to develop implementation standards for regulatory guidelines. Initially, the ISFs were set up for listed companies and stock brokers. Based on feedback from market participants and industry bodies, while similar fora were later introduced for other stakeholders, including portfolio managers, custodians, designated depository participants, and alternative investment funds, Sebi said in a release. The market participants found these ISFs useful in facilitating good governance and high quality compliance with regulatory directives but also ensuring ease of compliance, it added. However, the ISFs are operating as pilot programmes, as there are no

Sebi proposes changes in margin pledge system to prevent securities' misuse

Sebi on Wednesday issued a draft circular proposing amendments to its margin pledge system to prevent the possible misuse of clients' securities by brokers. These changes aim to enhance transparency and reduce systemic risks associated with clients' securities. The Securities and Exchange Board of India (Sebi) has invited public comments on the draft circular 'Margin obligations to be given by way of Pledge/re-pledge in the depository system' by March 4. The regulator noted that brokers have not been selling clients' securities invoked under the margin pledge system on the same day, resulting in the accumulation in brokers' demat accounts. This accumulation may lead to a potential misutilisation of clients' securities, prompting the need for regulatory intervention. Under the proposed changes, Sebi intends to introduce a mechanism where clients' securities, upon invocation, will be blocked for early pay-in within the client's demat account. This move will reduce the chances of brok

Sebi looks into research analysts' concerns; may ease advance fee norms

Under the rules implemented in December 2024, research analysts were permitted to charge advance fees for only one quarter

SC grants time to Danny Gaekwad to deposit Rs 600 cr for counter offer

The court also clarified that except for the modification of the time limit to deposit the said amount, other terms and conditions mentioned in the February 7 order will remain unaffected

Sebi launches MITRA to help investors track unclaimed mutual funds folios

Sebi on Wednesday introduced a new digital platform, MITRA, to assist investors in tracking and reclaiming inactive or unclaimed mutual fund folios. The objective of the platform, Mutual Fund Investment Tracing and Retrieval Assistant, is to encourage investors to search for forgotten MF investments and update KYC as per the current norms. In a circular, Sebi said the platform addresses a growing concern wherein investors, over time, lose track of their mutual fund investments lack of updated contact information, or unawareness of investments made in their name. Such inactive folios may become susceptible to fraudulent redemptions, it added. "In order to address the concerns, MITRA platform is developed by the RTAs to provide investors with a searchable database of inactive and unclaimed mutual fund folios at an industry-level which will empower the investors," the regulator said. According to the circular, MITRA will allow investors to identify the overlooked investments or any

EQT-backed Indira IVF confidentially files draft papers for Rs 3,500 cr IPO

The fertility firm files draft papers via the confidential filing route

Religare saga: Saluja moves HC against Sebi, seeks to quash Burmans' offer

Fresh petition filed on Tuesday states that the letter of offer does not adhere to the conditions set by RBI

National Peroxide settles disclosure lapses case with Sebi for Rs 9.4 lakh

Wadia group firm National Peroxide on Tuesday settled with capital markets regulator Sebi a case pertaining to the alleged violation of disclosure lapses after paying Rs 9.4 lakh in settlement amount. The order came after National Peroxide Ltd filed an application in November last year with Sebi proposing to settle the instant proceedings initiated against it, without "admitting or denying the findings of facts and conclusions of law". "...the instant adjudication proceedings initiated against the noticee (National Peroxide Ltd) vide SCN dated September 10, 2024, is disposed of in terms of the settlement regulations," Sebi's adjudicating officer Asha Shetty said in the order. The Securities and Exchange Board of India (Sebi) had initiated adjudication proceedings against National Peroxide Ltd for the alleged violation of scheme of arrangement dated June 20, 2023, under the LODR (Listing Obligation and Disclosure Requirements) rules. Thereafter, the markets watchdog issued a show ca

Sebi proposes new framework to handle unclaimed funds, securities

The regulator has proposed that if the client is not reachable or the funds cannot be credited to their bank account, such accounts will be put under 'enquiry status'

Sebi bars LS Industries, promoters for alleged stock manipulation

Cautions investors against 'blind pursuit' in companies without strong fundamentals

Sebi bans LS Industries, promoter, 4 others from securities markets

Sebi on Tuesday restrained Himachal Pradesh-based LS Industries, its promoter Profound Finance and four others from the securities markets till further orders following allegations of fraudulent activities and stock price manipulation. The markets regulator also directed Jahangir Panikkaveettil Perumbarambathu (JPP), a Dubai-based NRI public shareholder, to impound unlawful gains of Rs 1.14 crore from the sale of shares as part of a prima facie fraudulent scheme, the order said. Suresh Goyal, Alka Sahni, Shashi Kant Sahni HUF and JPP were also prohibited from the securities market by Sebi till further orders. The regulator directed the entities to co-operate with Sebi's investigation by furnishing all relevant information. The matter pertains to LS Industries and its key associates were involved in artificially inflating the company's share price despite negligible revenue and financial instability. In an interim order passed on Tuesday, Sebi noted that LS Industries Ltd (LSIL), a

Market regulator Sebi bars Kalahridhaan Trendz from securities market

Sebi conducted an inspection of the small and medium enterprise (SME) listed on NSE's SME exchange after receiving a complaint from HDFC Bank regarding a loan repayment default

Market regulator Sebi turns the wrench on auditor appointments, RPT rules

Guardrails set to defend against ambiguity and strengthen compliance

Sebi mulls changes to compliance report format, auditors' appointment rules

To strengthen corporate governance at listed firms, Sebi has proposed a revised format for annual secretarial compliance report, eligibility criteria for the appointment of auditors and inclusion of monetary thresholds for Related Party Transactions (RPTs) approvals. These proposals are aimed at ensuring that listed entities maintain high standards of compliance and transparency in their dealings. In its consultation paper, Sebi has proposed changes to improve the format and content of the Annual Secretarial Compliance Report (ASCR), aiming for more explicit confirmation of compliance with securities law. The suggestions have been made for exemptions related to corporate governance certifications and secretarial auditor reports when ASCR is attached to the annual report. The proposals include better enforcement mechanisms and making the ASCR a mandatory part of the annual report. On specifying eligibility criteria for the appointment of statutory auditors, the regulator has propose

Sebi orders attachment of accounts of 10 individuals in Eros Media case

Sebi has ordered the attachment of bank accounts as well as shares and mutual fund holdings of 10 individuals to recover Rs 1.25 crore, saying they have not complied with the regulator's investigation in the matter of Eros International Media Ltd. The recovery proceedings were initiated against these 10 individuals -- Gourab Ray Chaudhuri, Manisha Kumari Singh, Vinod Kumar Agarwal, Sutapa Mukherjee, Sumit Bhoot, Abhishek Das, Dev Govind Binani, Debosmita Ghosh Dastidar, Debjit Medda, and Anindya Bikas Datta -- after they failed to pay the fine imposed on them by the regulator, Sebi said in 10 separate orders passed on Thursday and Friday. In its notices, the Securities and Exchange Board of India (Sebi) has ordered attachment of bank, demat accounts and mutual fund folios of these individuals to recover pending dues. Going by the notices, dues of totalling Rs 1.25 crore were pending with these individuals with the amount including interest and recovery costs. As per the notices, Se

RBI opens NDS-OM platform for stock brokers to boost retail participation

Currently, membership open to entities such as banks, primary dealers, insurers, MFs

Mkt regulator Sebi cracks down on 'Options Queen', others for illegal gains

Directs them to disgorge Rs 53.67 cr

Sebi mulls to extend automated closure of trading window ahead of results

Markets regulator Sebi on Friday proposed to extend the automated closure of trading window ahead of the declaration of financial results to the immediate relatives of designated persons of listed companies. The move, if implemented, would prevent inadvertent non-compliance of insider trading rules, according to a consultation paper floated by Sebi. The markets regulator, in August 2022, issued a framework restricting trading by depository participants by way of freezing the PAN at security level during the trading window closure period. The freezing of the PAN at the security level is being carried out by the stock exchanges and depositories based on the information provided by the listed company. Initially, this PAN freeze framework was made applicable for trading window closure on account of declaration of financial results of listed companies that were part of benchmark indices such as Nifty 50 and Sensex. Subsequently, Sebi in July 2023, extended the framework to restrict tra