Page 65 - Sebi

Sebi warns Ola Electric over disclosure norms violation, its shares fall 4%

The company's MD had disclosed expansion plans on social media before information on stock exchanges

Sebi issues new guidelines for research analysts, investment advisers

Markets regulator Sebi on Wednesday said it has issued guidelines on the regulatory framework for research analysts and investment advisers to bolster investor protection and ensure transparency. These guidelines came after the regulator notified the research analyst (RA) rules and investment adviser (IA) norms in December last year. The new norms encompass qualification standards, fee structures, deposit requirements, and client segregation protocols. The regulator introduced fresh compliance mandates, particularly for entities utilising artificial intelligence (AI) tools in their services. Under the revised framework, Sebi said research analysts are required to maintain a deposit based on their client base, ranging from Rs 1 lakh for up to 150 clients to Rs 10 lakh for over 1,000 clients. These deposits aim to provide additional security for investors. Also, investment advisers are mandated to follow a graded deposit system tied to client numbers. Existing IAs must comply with

Two individuals pay Rs 91 lakh to settle front-running case with Sebi

Two individuals on Wednesday settled a case pertaining to an alleged front-running with Sebi by paying a settlement fee of Rs 91 lakh. Apart from the settlement amount, these two individuals -- Meghana Gosar and Devan Sangoi -- have to comply with other conditions to settle the matter, the capital markets regulator said. One of the conditions included a disgorgement amount of Rs 27.77 lakh to be paid by Gosar. The disgorgement amount is to be paid along with 12 per cent per annum from the date of violation (April 30, 2022) till the date of filing of the settlement application, Sebi said in the settlement order. Also, Gosar and Sangoi will voluntarily debarred themselves from accessing as well as dealing in the securities markets for six months. The order came after the applicants proposed to settle by neither "admitting nor denying the findings of fact and conclusions of law" by filing two separate settlement applications. "In exercise of the powers...in terms of the settlement .

Sebi modifies credit rating agency rules to enhance ease of doing business

Capital markets regulator Sebi has revised timelines for credit rating agencies (CRAs) to enhance the ease of doing business by introducing the term "working days" instead of "days" for compliance deadlines. In a circular issued on Tuesday, the markets watchdog announced changes in rules for CRAs aimed at standardising rating processes and publication protocols. These changes follow recommendations from a working group on CRAs that highlighted the challenges posed by existing timelines, especially during non-working days. "One of the recommendations of the Working Group of CRAs for ease of doing business pertains to modification of approach on specifying timelines from 'days' to 'working days' in respect of certain requirements," Sebi said. Under the revised rules, the regulator said credit rating agencies are required to publish press releases on rating actions within seven working days of the relevant event, replacing the previous mandate of seven calendar days. Similarly, for

Sebi asks companies to disclose whistleblower complaints in IPO filings

Sebi mandates that companies disclose any whistleblower complaints related to promoters in their IPO documents, aiming for increased transparency after recent interventions in IPOs

Capital Group duped: Here's how $2.6 trillion fund was taken for a ride

The alleged organier is Ketan Parekh, a former stockbroker the regulator has chased out of the market once before

Markets regulator Sebi warns Ola Electric for violating disclosure norms

According to the letter issued by Sebi, the electric vehicle manufacturer announced its expansion plans on microblogging platform X (formerly Twitter), before informing the exchanges

Market regulator Sebi slaps Rs 9 lakh fine on Stockholding Services

The violations were found after a thematic inspection by the regulator during April 2022 and June 2023

ASK Investment Managers, Monarch Networth apply for mutual fund licence

While Monarch Networth Capital filed its application on December 31, 2024, ASK Investment Managers had applied in October 2024

Six new fund houses set to join Rs 68-trillion MF industry in 2025

Angel One, Unifi set to launch first fund this year; four more likely to secure licence this year

Select index factor fund based on high conviction and risk appetite

A market cap-based index selects and assigns weights to stocks based on market cap, favouring larger companies

Sebi eases settlement norms for brokerage accounts inactive over 30 days

Settlements to happen once a month for accounts inactive for over 30 days

ICICI Securities settles case with Sebi for Rs 40 lakh over terminal misuse

In July 2024, the stock broker applied for settlement without admitting or denying the findings under the Settlement Regulations. The settlement amount was paid on January 1, 2025

Street Signs: Dissecting claims with precision, 63% GMP for Standard Glass

Angadia, known as an informal courier network for transporting valuables, has long served as a parallel, unofficial channel

Caliber Mining files draft IPO papers with Sebi, aims to raise Rs 600 crore

Caliber Mining and Logistics, a Nagpur-based coal mining and logistics provider, has filed preliminary papers with the capital markets regulator Sebi to mobilise Rs 600 crore through an initial public offering. The initial public offering (IPO) is a combination of fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale (OFS) of shares aggregate to Rs 100 crore by the promoters, according to the draft red herring prospectus (DRHP). As part of the OFS, Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda and Rahul Roshanlal Chadda will be offloading their shares worth Rs 25 crore each in Caliber Mining and Logistics. The company may consider a pre-IPO placement of shares worth up to Rs 100 crore. If the pre-IPO placement is completed, the size of the fresh issue will be reduced. As per the draft papers filed on December 30, the net proceeds worth Rs 175 crore will be utilised by the company towards repayment of debt, Rs 200 crore for funding

Neelkanth Realtors files draft papers with Sebi to raise funds through IPO

Neelkanth Realtors, a Mumbai-based real estate developer, has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering. The Initial Public Offering (IPO) is entirely a fresh issuance of up to 1.35 crore equity shares with a face value of Rs 10 each, according to the Draft Red Herring Prospectus (DRHP). Proceeds from the fresh issue will be utilised by Neelkanth Realtors towards funding a part of the costs to be incurred in the development of its ongoing projects, and upcoming projects, including Neelkanth Plaza Project in Thane. As per the draft papers, funds from the IPO will also be used by the Mumbai-based company for repayment of debt and general corporate purposes. In the public issue, 50 per cent of the offer will be reserved for qualified institutional investors, 15 per cent for non-institutional investors and 35 per cent for retail investors. Neelkanth Realtors is one of the prominent real estate developers in Mumbai's easter

Sebi disposes of showcause notice to Karvy Capital in AIF violation case

Capital markets regulator Sebi has disposed of a show cause notice issued to Karvy Capital Ltd and its key management personnel after finding no violations of alternative investment funds (AIF) rules. The order came after the Securities and Exchange Board of India (Sebi) examined the matter of Karvy Capital Alternative Investment Trust, and KCAP Alternative Investment Fund, to ascertain satisfaction of 'fit and proper' criteria by Karvy group AIFs registered with Sebi. Thereafter, Sebi observed certain non-compliances and accordingly initiated adjudication proceedings against Karvy Capital Ltd (KCL) and key management personnel -- Ajit Bhaskaran, Hitungshu Debnath (former director & COO), and K P Jeewan -- for the alleged violations of AIF norms. Thereafter, Sebi issued a show cause notice (SCN) to the noticees (KCL, Bhaskaran, Debnath and Jeewan) on June 7, 2024 for the alleged violations. In an order passed on January 2, Sebi said Karvy Capital Alternative Investment Trust and ..

Kirloskars challenge Sebi letter asking family settlement deed disclosure

Four Kirloskar companies on Saturday said they have filed an appeal before the Securities Appellate Tribunal challenging the SEBI letter asking them to disclose the deed of family settlement that was signed by members of the Kirloskar family on September 11, 2009. In a joint statement, the Kirloskar companies -- Kirloskar Ferrous Industries Ltd (KFIL), Kirloskar Industries Ltd (KIL), Kirloskar Pneumatic Company Ltd, Kirloskar Oil Engines Ltd -- said they have filed the appeal before SAT challenging the SEBI letter dated December 30, 2024 wherein the market regulator advised them to disclose the Deed of Family Settlement (DDS). On December 31, these companies stated that they were preparing to legally challenge the letter by SEBI. The markets watchdog in its letter stated that "since the DFS is subsisting in nature, indirectly creates a restriction on the listed entities managed/promoted by the parties to such DFS, warrants disclosure, regardless of whether such listed entity is a ..

Decoded: How does front-running work, and what is Ketan Parekh's role?

Front-running is a fraudulent practice where traders use advance knowledge of large client orders for personal profit, as seen in Ketan Parekh's case

Film producer Vipul Shah's Sunshine Pictures files for IPO to raise funds

Film and television producer-director Vipul Shah-backed Sunshine Pictures Ltd has filed draft papers with the market regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises a total offer size of 83.75 lakh equity shares including a fresh issue of 50 lakh shares and an Offer-for-Sale (OFS) of 33.75 lakh shares by promoters, according to the draft red herring prospectus (DRHP). Promoter Vipul Amrutlal Shah is proposing to sell 23.69 lakh shares, while Shefali Vipul Shah plans to offload 10.05 lakh shares. The company plans to utilize the proceeds from the fresh issue to meet its long-term working capital requirements, allocating up to Rs 94 crore to support future growth and operations, along with other general corporate purposes. Additionally, the listing of its equity shares on the stock exchanges is expected to enhance the company's visibility, strengthen its brand image, and create a public market for its shares in India. Sunshine Pictures is on