Page 88 - Sebi

CJI advises Sebi, SAT to be cautious, pitches for more tribunal benches

Chief Justice of India D Y Chandrachud on Thursday advised market regulator SEBI and the Securities Appellate Tribunal (SAT) to exercise caution amid a significant surge in equity markets and pitched for more tribunal benches to ensure that the "backbone is stable". Inaugurating the new SAT premises here, CJI Chandrachud pitched for authorities to consider opening up new benches of the SAT given the higher workloads because of higher quantum of transactions and newer regulations. Referring to newspaper articles calling the crossing of the 80,000 points milestone by the BSE as an ecstatic moment, where India is entering a "stratospheric domain", the CJI pointed out that such events emphasize the need for regulatory authorities to ensure that everyone holds their "balance and nerves" amid the wins. "The more you see the surge in the stock market, the greater the role, I believe, for SEBI and SAT, as institutions which will exercise caution, celebrate the successes but at the same time

Adani group stocks fall; ACC down 3%, Adani Ent slips 1.5%

Other Adani Group entities also saw losses, which include Adani Green 0.45 per cent, Adani Energy Solutions 0.62 per cent, Adani Total Gas 0.53 per cent and Adani Wilmar 0.46 per cent

Sebi has a strong case against US-based Hindenburg Research, say lawyers

On June 26th, the Sebi issued show-cause notices to Hindenburg Research LLC, US-based hedge fund manager Mark E Kingdon, and four others

Sebi cuts face value of debt securities to boost retail participation

Markets regulator Sebi on Wednesday drastically cut the face value of debt securities to Rs 10,000 from Rs 1 lakh at present to boost participation of retail investors in the corporate bond market. Market participants are of the view that lower ticket size of debt securities may encourage more non-institutional investors to participate in the corporate bond market which in turn may also enhance liquidity. In a circular, Sebi said, "the issuer may issue debt security or non-convertible redeemable preference shares on private placement basis at a face value of Rs 10,000". This, however, would be subject to certain conditions like the issuer should appoint at least one merchant banker, and non-convertible debentures and non-convertible redeemable preference shares be plain vanilla, interest or dividend-bearing instruments. Sebi said that credit enhancements would be permitted in such instruments. With respect to General Information Document (GID), which is valid as on the 'effective

Kingdon never disclosed any relationship with Hindenburg: Kotak Mahindra Bank

Kingdon informed KMIL that the transactions were made on a principal basis, i.e. for themselves, said the bank in a stock exchange filing

'Discount broking space getting overcrowded; Sensex can hit 100,000'

Globally, growing number of parliamentarians are worried about legitimised gambling via stock exchanges which has social and financial implications, said CJ George, founder & MD, Geojit Financial

Broking stocks slide on Sebi pivot; exchanges, depositories feel the heat

The worst impact is seen on discount brokerages that currently pocket a neat spread between what they charge their end-clients and what they pay the exchanges as charges

Groww Asset Management, trustee settle case with Sebi; pay Rs 9 lakh

Groww Asset Management Ltd (formerly known as Indiabulls Asset Management Company Ltd) and its trustee have settled with markets watchdog Sebi a case pertaining to alleged violation of regulatory norms after paying Rs 9 lakh. This came after the applicants -- Groww Asset Management Company and Groww Trustee Ltd (earlier known as Indiabulls Trustee Company Ltd) -- proposed to settle the alleged violation by "neither admitting nor denying the findings of fact". "It is hereby ordered that any proceedings that maybe initiated for the violations...are settled in respect of the applicants," the Securities and Exchange Board of India (Sebi) said in its settlement order passed on June 28. The applicants have submitted that on account of change in control of Indiabulls Asset Management Company and Indiabulls Trustee due to the acquisition of these entities by Nextbillion Technology Pvt Ltd, the entities are now known as Groww Asset Management and Groww Trustee with effect from May 3, 2023.

Raselle Capital VCC settles FPI violation case with Sebi, pays Rs 1.23 cr

Foreign portfolio investor Raselle Capital VCC has settled a case related to the alleged violation of FPI rules with capital markets regulator Sebi after paying Rs 1.23 crore as settlement charges. The order came after Raselle Capital proposed to settle the instant proceedings initiated against it without "admitting or denying the findings of facts and conclusions" of the law. The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the applicant (Raselle Capital VCC) for the alleged violations of Sebi's Foreign Portfolio Investors (FPI) rules and other market norms. Further, a show cause notice (SCN) dated December 18, 2023, was issued to the applicant by the markets watchdog for the alleged violations. Thereafter, the applicant filed a settlement application with the regulator in terms of the provisions of Sebi's (Settlement Proceedings) regulations to settle the matter. Pursuant to the receipt of the application, Sebi's High Powered Advisory

Sebi mandates email as default mode for dispatching CAS by depositories

Markets regulator Sebi on Tuesday mandated email as a default mode of dispatch of 'Consolidated Account Statement', which provides an account of securities traded by an investor, by depositories and Mutual FundRegistrar and Transfer Agents (MF-RTAs). The new framework will come into force from April 1, the Securities and Exchange Board of India (Sebi) said in a circular. A Consolidated Account Statement (CAS) is a single or combined account statement which shows the details of financial transactions made by an investor during a month across all mutual funds and also other securities held in dematerialised (demat) mode. The CAS is dispatched to the investors by the depositories (NSDL or CDSL), providing the details of financial transactions in both mutual fund folios and depository accounts if PANs are common across the RTAs and the depositories. In respect of mutual fund folios, where there is no common PAN between the RTAs and the depositories, the CAS is sent by mutual funds ...

Banks under pressure; ICICI, IndusInd, BOB, IDFC First down up to 3%

ICICI Bank, IndusInd Bank, IDFC First Bank, Bandhan Bank and Federal Bank from the private sector and Bank of Baroda PNB and SBI from the public sector slipped in the range of 1 per cent to 3 per cent

MF Lite: Sebi proposes rules to make launching low-cost index funds easier

The financial regulator is looking to make it simpler for companies to launch low-cost index funds and similar investment products.

Hindenburg receives show cause notice from Sebi over Adani issue

The short seller alleges 'surreptitious aid' to Adani Group by Sebi

Broking stocks fall up to 11% after Sebi directs MIIs to levy uniform fees

Broking company stocks including Angel One, IIFL Securities, 5Paisa Capital, SMC Global, Motilal Oswal Financial Services and Geojit Financial Services fell in the range of 2-11 per cent

Market regulator Sebi directs exchanges, other MIIs to levy same fees

Move aimed at providing fair access, fee to all clients

Market regulator Sebi proposes MF Lite regulations for passive AMCs

Existing asset management companies (AMCs), which offer both active and passive funds, will also have the option of hiving off the passive business to a separate entity under the new MF Lite norms

Sebi approves IPO plans of FirstCry, SoftBank-backed Unicommerce eSolutions

While FirstCry had refiled its DRHP, Unicommerce classified more entities as promoters for IPO approval

FirstCry's parent firm Brainbees Solutions gets Sebi's nod to float IPO

Brainbees Solutions Ltd, the parent firm of online e-commerce platform FirstCry, has received Sebi's approval to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday. Apart from this, three more companies -- SaaS platform Unicommerce eSolutions, Maharashtra-based Gala Precision Engineering and Interarch Building Products -- obtained the regulator's nod to float the initial share sale. These companies -- who filed their preliminary IPO papers with Sebi between January and May 2024 -- obtained the regulator's observations during June 25-28, according to the update. In Sebi's parlance, obtaining its observations means its approval to float the public issue. According to the fresh draft red herring prospectus (DRHP), Pune-based Brainbees Solutions' proposed IPO is a combination of a fresh issue of equity shares, aggregating up to Rs 1,816 crore and an offer for sale (OFS) of up to 5.44 crore equity shares by existing ...

How to curb speculation in F&Os

Sebi is also concerned about the absence of a link between the cash market and the derivatives market. But the majority of options traders have never traded options to take or give delivery

Will have our cells in EVs by early 2025: Ola Electric's Bhavish Aggarwal

These cells would be manufactured from its newly set up Ola Gigafactory in Krishnagiri, Tamil Nadu