Page 67 - Sebi

Institutional collapse given way to dangerous cronyism: Rahul on Sebi chief

Stepping up his attack over conflicts of interest allegations against SEBI chief Madhabi Buch, Congress leader Rahul Gandhi on Monday said the current regime is no longer merely encouraging monopolies but actively concentrating the nation's wealth in the hands of a few. Gandhi, the Leader of Opposition in the Lok Sabha, made the remarks in his post along with a video featuring him and Congress' media and publicity department head Pawan Khera in which they talk about the alleged conflicts of interest of SEBI chief Buch. "Institutional collapse has now given way to a more dangerous form of cronyism -- Adani Bachao. The current regime is no longer merely encouraging monopolies, it's actively concentrating the nation's wealth in the hands of a few," Gandhi said. The Madhabi Buch scandal goes deeper than initially imagined, he said, adding that it may be that Buch, entrusted with safeguarding retail investors, has been manipulating the system to protect Adani's interests and his inflated

ACME Solar Holdings IPO: Key Highlights, financials, risks revealed in DRHP

As investors await further details from ACME Solar Holdings, here are the key takeaways from the Draft Red Herring Prospectus (DRHP) that the company submitted to the market regulator

Who is saving Sebi chief, asks Cong; Rahul flags market risks to investors

The Congress on Saturday intensified its offensive against SEBI chief Madhabi Puri Buch, asking what was keeping her from appearing before a parliamentary panel. Shortly after Congress leader Rahul Gandhi, in an Instagram video, flagged "risks to billions of retail investors in the stock market", the party posed three questions on Buch, who skipped a recent appearance before the Public Accounts Committee by citing a last-minute emergency. "Why is Madhabi Buch reluctant to answer questions before the Public Accounts Committee (PAC) of Parliament? Who is behind the plan to protect her from being answerable to the PAC? Is there a well-thought-out conspiracy to risk the hard-earned investments of crores of small-medium investors and benefit Modi ji's dear friend Adani?" the Congress' media department chairman Pawan Khera asked in a statement. Gandhi earlier posted a video on Instagram in which he is heard speaking to Khera on the phone and urging him to devise innovative ways of ...

Sebi issues notice to Axis Bank about stake buy in Max Life Insurance

Capital market regulator Securities and Exchange Board of India has issued a show cause notice (SCN) to Axis Bank and its subsidiaries in a case related to stake buy in Max Life Insurance. In a regulatory filing, Axis Bank said the SCN was issued on October 25 through email. Axis Bank, and its subsidiaries, Axis Securities Limited and Axis Capital Limited, have received an SCN through email from the Sebi, it said. The SCN is being reviewed and will be filing responses to the SCN with Sebi as the said transactions were undertaken with requisite regulatory approvals, it said. Meanwhile, Max Financial Services Limited, the holding company of Max Life Insurance also said a few directors and a few key managerial personnel of the company (in each case, 'both past and present) have received a SCN through email from Sebi. Earlier this year, the Axis Bank's board of directors approved the proposal to acquire Max Life shares, raising Axis entities' total holding in the insurance firm to 19.

Cong intensifies attack on Sebi chief Buch, flags stock market risks

The Congress on Saturday intensified its offensive against SEBI chief Madhabi Puri Buch, asking what was keeping her from appearing before a parliamentary panel. Shortly after Congress leader Rahul Gandhi, in an Instagram video, flagged "risks to billions of retail investors in the stock market", the party posed three questions on Puri, who skipped a recent appearance before the Public Accounts Committee by citing a last-minute emergency. "Why is Madhabi Buch reluctant to answer questions before the Public Accounts Committee (PAC) of Parliament? Who is behind the plan to protect her from being answerable to the PAC? Is there a well-thought-out conspiracy to risk the hard-earned investments of crores of small-medium investors and benefit Modi ji's dear friend Adani?" the Congress' media department chairman Pawan Khera asked in a statement. Gandhi earlier posted a video of Instagram in which he is heard speaking to Khera on the phone and urging him to devise innovative ways of ...

Sebi to auction 7 properties worth Rs 15.47 cr of Bishal Group on Dec 10

Capital markets regulator Sebi has said that it will auction seven properties belonging to Bishal Group of Companies on December 10 to recover money illegally collected by the entity from investors. The properties will be auctioned at a reserve price of a little over Rs 15.47 crore, according to a public notice issued by the Securities and Exchange Board of India. These properties are flats, land and buildings, land parcels, and plots located in West Bengal. Sebi has invited bids for the sale of properties in the recovery proceedings against Bishal Abasan India Ltd, Bishal Distillers Ltd, Bishal Agri-Bio Industries Ltd, Bishal Horticulture and Animal Projects Ltd and their promoters/directors (collectively referred to as Bishal Group). The regulator said the auction will be conducted on December 10 from 11 am to 1 pm. Adroit Technical Services has been appointed by the markets watchdog to assist it in the sale of properties. The regulator has asked the bidders to make their own .

Sebi imposes Rs 16L fine on Edelweiss AMC, 2 officials for rule violation

Capital markets regulator Sebi on Friday imposed penalties totalling Rs 16 lakh on Edelweiss Asset Management Ltd, its CEO Radhika Gupta and fund manager Trideep Bhattacharya for violating mutual fund rules. Individually, penalty of Rs 8 lakh was levied on Edelweiss Asset Management and Rs 4 lakh each on Gupta and Bhattacharya, according to an order passed by Sebi. Also, they have been directed to pay the amount within 45 days. While undertaking an industry wide analysis of whether focused funds are true-to-label or not, Sebi noted that Edelweiss Focused Equity Fund (EFEF) had violated the provision 'an open ended equity scheme investing in maximum30 stocks' on 88 days. The deviations from mandatory asset allocation were observed for the months of November 2022, December 2022, January 2023 and February 2023. In its order, Sebi said, "noticee No. 1 (Edelweiss Asset Management) had failed to ensure that the asset management company took all reasonable steps and exercised due dilig

Sebi comes out with reporting format for research analysts, proxy advisers

Markets regulator Sebi on Friday came out with a standardised format for periodic reporting for research analysts (RAs) and proxy advisers (PAs). The regulator has recognised the Research Analyst Administration and Supervisory Body (RAASB) for the administration and supervision of RAs under the RA Regulations. As the Proxy Advisers (PAs) are registered under the RA norms, they will also come under the purview of RAASB. In its circular, Sebi said that RAs will submit their periodic report to RAASB, and PAs will submit their periodic reports to Sebi. The periodic reports will be submitted by RAs/PAs within 30 days from the last date of the reporting period. Further, RAs/PAs are required to submit periodic reports for half-yearly periods ending on September 30 and March 31 of every financial year. The first reporting period will be a half-yearly period ending on March 31, 2025, and reports thereof will be required to be submitted by April 30, 2025. Hence, a time of around six months h

National Stock Exchange's IPO hinges on approval from Sebi, says CEO

The National Stock Exchange of India Ltd., whose initial public offering has faced delays since it initial filing in 2016, needs approval from the Sebi to reapply

Why is Buch reluctant to face Parliamentary panel's questions, asks Rahul

After SEBI chairperson Madhabi Puri Buch skipped appearing before the Public Accounts Committee of Parliament on Thursday, Congress leader Rahul Gandhi wondered why is she reluctant to face questions from the panel. In a post on X, Gandhi also asked who is behind the "plan" to protect her from being answerable to the panel. "Why is Madhabi Buch reluctant to answer questions before the Public Accounts Committee (PAC) of Parliament? "Who is behind the plan to protect her from being answerable to the PAC?" the Congress leader asked. Congress president Mallikarjun Kharge accused the BJP-led Centre of using the SEBI chairperson as a "shield to hide its misdeeds" and said Buch would have to answer questions before the PAC, which is a constitutional body. "The PAC of Parliament has the constitutional right to summon any officer in connection with any government investigation. "To safeguard the autonomy of the SEBI, to maintain the impartiality of the institution and to ensure accountabi

Madhabi Puri Buch skips PAC meet, Cabinet approves 2 railway projects & Cyclone Dana

Nvidia CEO Jensen Huang reaffirmed the company’s partnership with Reliance Industries to build AI infrastructure in India and announced the launch of a Hindi AI model at the AI Summit in Mumbai.

Research report of analysts not an ad unless related to promotion: Sebi

Markets regulator Sebi on Thursday clarified that research reports and recommendations of research analysts (RAs) are not considered advertisements unless anything contained in such reports is in the nature of promotion of products or services offered by them. This came after the Securities and Exchange Board of India (Sebi) received certain queries concerning the applicability of provisions of advertisement code on a research report issued by an RA. In its circular, Sebi said that the forms of communications, to which the advertisement code shall be applicable include pamphlets, circulars, brochures, notices or any other literature, document, information or material published, or designed for use in any publication or displays (such as newspaper, magazine, sign boards/hoardings at any location), in any electronic, wired or wireless communication or over any other audio-visual form of communication (such as television, tape recordings, motion pictures) or in any other manner ...

Sebi Chair Madhabi Puri Buch's meeting with Parliament committee postponed

Madhabi Puri Buch and three to four senior Sebi officials are likely to be questioned by Parliament's Public Accounts Committee

Sebi bars First Overseas Capital to be lead manager for fresh mandates

Sebi on Wednesday barred First Overseas Capital from taking any new mandate as a lead manager for any public issue of debt securities until further orders for allegedly violating merchant bankers rules. The regulator also issued a show cause notice to First Overseas Capital for alleged violations of the provision of Merchant Bankers (MB) regulations. "I, hereby debar the noticee (FOCL) from taking any new mandate in relation to the business of issue management either by making arrangements regarding selling, buying or subscribing to securities or acting as manager, consultant, adviser or rendering corporate advisory service in relation to such issue management, until further order," Sebi's whole time member Ashwani Bhatia said in the order. In its 33-page interim order cum show cause notice, Sebi said FOCL acted as a registered merchant banker without meeting the capital adequacy requirement (net worth of Rs 5 crore), as mandated under the provisions of the MB norms. Further, the .

Meeting of Parl PAC to be held tomorrow, Sebi chief to appear: Report

The meeting will be held in Delhi on Thursday at 11 am. The PAC is headed by K C Venugopal of the Congress

Sebi issues framework on ties between intermediaries, unauthorised advisors

Markets regulator Sebi on Tuesday came out with a framework on associations between market intermediaries and unauthorised financial advisors, especially with regard to specified digital platforms. This came after Sebi in August amended rules aimed at regulating associations between intermediaries, like stock exchanges, clearing corporations and depositories, and entities providing financial advice or making performance claims. The rule restrains intermediaries, their agents, or associated persons from having direct or indirect ties with any entity that provides investment advice or recommendations without being registered or permitted by Sebi or makes performance or return-related claims unless specifically authorised by the regulator to do so. However, if these interactions occur through specified digital platforms, they will not be subject to these restrictions. In its circular on Tuesday, Sebi said the framework allows associations through "specified digital platforms", which t

SMEs' operating cash flow fell 69% in FY24; sales and profits outperformed

Amid increased scrutiny of price action in the SME segment by regulators and investors alike, a looks at their fundamentals in a three-part series. Part-1 examines sharp decline in operating cash flow

Sebi directs regulated entities to end ties with unregistered advisors

Issues draft circular for recognising digital platforms for associations with registered entities

Sebi asks registered entities to end contracts with unregistered advisors

Markets regulator Sebi on Tuesday provided three months to registered entities and their agents to terminate their existing contracts with unregistered financial advisors. This is part of Sebi's move to curb unauthorized financial advice and performance claims in the securities market. This came after Sebi in August amended rules aimed at regulating associations between intermediaries (like stock exchanges, clearing corporations, and depositories) and entities providing financial advice or making performance claims. The rule restrains intermediaries, their agents, or associated persons from having direct or indirect ties with any entity that provides investment advice or recommendations without being registered or permitted by Sebi or makes performance or return-related claims unless specifically authorized by the regulator to do so. However, if these interactions occur through specified digital platforms, they will not be subject to these restrictions. In its circular on Tuesday,

Adani Energy gets Sebi notice for alleged misclassification of shareholding

Adani Energy Solutions also stated that there were no other pending regulatory proceedings against the company except for the two show-cause notices