Page 27 - Securities And Exchange Board Of India

AMCs to be penalised for delay in dividend, redemption payments: Sebi

Any delay in dividend payment beyond seven working days to attract interest charge at 15% a year; investors to get redemption money within three working days, from 10 earlier

Strengthening debt market on Sebi's agenda, says Ananth Narayan

The market capitalisation of the equity market is almost Rs 290 trillion, but the corporate outstanding is at Rs 40 trillion, indicating more traction is needed on the debt side

PNB gets Centre's approval to divest its entire stake in UTI AMC

The bank holds 15.22 per cent stake in UTI AMC worth around Rs 1300 crore at current valuation

Centre likely to release guidelines for social media influencers next month

Additionally, the Securities and Exchange Board of India (Sebi) is also planning similar norms for online financial advice providers or finfluencers

T+1 settlement of all F&O stocks pushed to Jan 2023, transition at one go

However, the timeline issue for many FPIs remains, as the relaxation still compels them to book forex during non-market hours

HDFC twins may merge by April next year, says Chairman Deepak Parekh

Parekh said the voting process of shareholders on the proposed merger has received "fair amount of votes" from shareholders already

Sebi extends one-time stock option settlement scheme by two months

Scheme provides a settlement opportunity to entities that have executed trade reversals in stock options from April 2014 to Sept 2015, and against whom adjudication proceedings are pending

Motilal Oswal AMC to accept fresh investments in international schemes

The AMC had suspended fresh subscriptions to these schemes in Jan after the MF industry came close to breaching global investment limit

Adani group's Rs 493-cr open offer for NDTV shares to begin on Tuesday

The offer, for 16.7 million shares at Rs 294 apiece, will close on December 5. The size of the open offer is nearly Rs 493 crore

Carefully evaluate open offer: NDTV independent directors to shareholders

Last month, the Adani group had written to Sebi, re-affirming its commitment to complete the open offer process for additional shares in NDTV

Sebi plans to introduce new SCORES system with revamped website, mobile app

Capital markets regulator Sebi is planning to overhaul the existing investors complaint system SCORES by introducing a newer version of its website and mobile application features. In this regard, the Securities and Exchange Board of India (Sebi) has invited expressions of interest (EoIs) from interested parties to replace the old system with a new version, according to a notice on Friday. SCORES (SEBI Complaints Redressal System) is an online platform designed to help investors lodge their complaints pertaining to the securities market, mainly against listed companies and registered intermediaries. It was made operational in June 2011. All complaints received through SCORES are dealt with in a time-bound manner. In the latest version, interested candidates would develop a new website and mobile application for investors to lodge their grievances in a more efficient and easy manner. Complainants will have the facility to check status of complaints, send reminders and lodge appeals

New guidelines for financial influencers under works, says Sebi

Merely giving disclaimers may not guard finfluencers from regulatory action

Sebi panel proposes shareholder pay buyback tax: Check details here

The sweeping proposals are part of a consultation paper floated by Sebi on which comments from the stakeholders have been sought till December 1

More preventive measures needed to curb corporate frauds: Sebi official

Since corporate frauds are inevitable to happen, principle and rule-based regulations are not effective remedy to curb such criminalities but more preventive measures are needed, a senior Sebi official said here on Thursday. Admitting that all companies, both publicly traded as well as privately held are vulnerable and susceptible to frauds, SK Mohanty, a whole-time member at the Securities and Exchange Board said the regulator is taking multiple measures to curb frauds and strengthening its enforcement mechanism. Addressing a seminar on corporate frauds organized by the industry lobby CII, he said diversion of funds leads to erosion of wealth for shareholders and also leads to ethical crisis and reputational risk for both regulators as well as regulated entities. Emphasising that frauds are neutral and can take place in any company irrespective of whether it is listed or not, and more so, in the wake of instances of digital data thefts and technological risks, Mohanty expressed ...

Regulations not a remedy for fraud: Sebi whole time member SK Mohanty

According to a survey, 47 per cent respondents considered lack of visibility over third parties as the biggest concern to bribery and corruption

Sebi asks IHH Healthcare to get Delhi HC nod for Fortis open offer

IHH indicated last week that it was ready to go ahead with the stalled open offer if the capital markets regulator allowed it

Sebi frames guidelines for AIFs for declaring first close of a scheme

Capital markets regulator Sebi on Thursday came out with guidelines for Alternative Investment Funds (AIFs) for declaring the first close of a scheme. Also, the regulator has specified the manner of calculating the tenure of a close-ended scheme of an AIF and prescribed a fee for change in control of the manager or sponsor. The new guidelines would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. With regard to the first close of schemes of AIFs, Sebi said that the first close of a scheme is required to be declared not later than 12 months from the date of the capital markets regulator's communication for taking the Private Placement Memorandum (PPM) of the scheme on record. In the case of open-ended schemes of Category III AIFs, the first close would refer to the close of their Initial Offer Period. "Corpus of the scheme at the time of declaring its first close shall not be less than the minimum corpus prescribed in AIF

Sebi to auction properties of Saradha Group of Companies on Dec 16

Markets regulator Sebi on Thursday said it has lined up three properties of Saradha Group of Companies for an auction on December 16, at a reserve price of Rs 5.21 crore. The move is part of Sebi's efforts to recover money raised by the company from the public through illicit schemes. In a notice, the Securities and Exchange Board of India (Sebi) said the auction will be conducted between 11 am to 12 pm on December 16, 2022. The properties to go under the hammer include land parcels located in West Bengal. The total reserve price of these properties is pegged at about Rs 5.21 crore and the regulator has appointed C1 India as the e-auction provider. Online registration and e-auction will be conducted through Quikr Realty. The Calcutta High Court had passed an order in June, whereby it directed Sebi to proceed with the auction of the properties of Saradha Group of Companies. The entire exercise was directed by the High Court to be completed within three months. Saradha Group of .

Sebi notifies rules on dividend, redemption proceeds to MF unitholders

Capital markets regulator Sebi has notified new rules for asset management companies (AMCs) pertaining to transfer of dividend and redemption proceeds to mutual fund unitholders. Under this, every mutual fund and asset management company would be required to transfer to the unitholders the dividend payments and the redemption or repurchase proceeds within a period specified by Sebi, the regulator said in a notification made public on Thursday. In case of failure to transfer the proceeds within the specified period, the AMC would be liable to pay interest to the unitholders for the period of such delay. "Notwithstanding payment of such interest to the unit-holders...the asset management company may be liable for action for failure to transfer the redemption or repurchase proceeds or dividend payments within the stipulated time," Sebi said. It further said that physical despatch of redemption or repurchase proceeds or dividend payments would be carried out only in exceptional ...

Rating agencies raise red flag: QIP monitoring may hit disclosure wall

Disclosures around utilisation of issue proceeds not as exhaustive as IPOs: Rating agencies