Page 30 - Securities And Exchange Board Of India

Continue SIPs for eight years to avoid loss in equities, say experts

Neither day of the month nor frequency of SIP has a material impact on returns

Sebi recovery rate less than 2% of Rs 99,490 cr claimed since 2013-14

Number of pending notices was up 31% to 2,872 at the end of FY22, from 2,193 the previous year

Market regulator Sebi issues guidelines to standardise CRAs' rating scales

The regulator also specified standard descriptors for 'rating watch' and 'rating outlook'

Sebi bans Mehul Choksi from securities market for 10 years, fines Rs 5 cr

Choksi is already facing Income Tax department and ED action

SFBs need Rs 4,000 cr capital to maintain 30% CAGR in advances: CareEdge

Capital raising delayed amid volatile markets, lower risk apetite among investors

Sebi suspends registration of RTA for three months over operational lapses

Findings against Satellite Corporate Services "shocking and disturbing", says Sebi order

Using tech to crack down on insider trading: Sebi's Madhabi Puri Buch

Regulator will by next year have a system enabling data storage of trades between exchanges, ensuring work is not affected in a cyberattack

Sebi's front-running investigations rise even as overall cases dip

More probes were completed than in the previous year

Sebi bars Momentum Tips, its proprietor from securities markets for 3 years

Sebi has barred Momentum Tips and its proprietor Ajay Kumar Mukhiya from the securities markets for three years for providing unauthorised investment services. The regulator issued a show cause notice to Momentum Tips and Mukhiya in September 2021. The market watchdog found that Momentum Tips and Mukhiya (noticees) were indulged in providing investment advisory services without obtaining registration from the Securities and Exchange Board of India (Sebi). The noticees have collected Rs 33.19 lakh during February-July 2019, Sebi said in an order on Tuesday. Sebi has directed the noticees to refund the money within three months received from the clients as fees in respect of their investment advisory services. Also, the regulator barred the noticees from the securities markets for a period of three years or till the expiry of three years, from the date of completion of refund to clients/investors, whichever is later. In addition, they shall not undertake investment advisory service

A family at war: Kirloskar siblings await SC judgement on arbitration

The Kirloskars are fighting a legal war over group assets with Sanjay Kirloskar chairman of Kirloskar Brothers Ltd on one side, and his brothers, Atul, 66, and Rahul, 59, on the on the other side

Consultancy companies doubling capacity in sustainability divisions

According to industry sources, about 350-400 of the 1,000 companies have already engaged the services of sustainability consultants

Sebi clears govt proposal to turn Vodafone Idea dues into equity: Report

The govt's stake in Vodafone after the conversion could be more than 30%, says a govt official

Committed to completing open offer process for 26% NDTV stake: Adani group

Adani Group, which missed the date for the launch of an open offer to buy an additional 26 per cent stake in NDTV, on Wednesday said it is committed to completing the process and has asked SEBI to provide comments on its draft open offer letter. The conglomerate, run by India's richest man Gautam Adani, in August acquired a little-known company that lent over Rs 400 crore to NDTV's founders more than a decade ago in exchange for warrants that allowed the company to acquire a stake of 29.18 per cent in the news group at any time. Post that, Vishvapradhan Commercial Pvt Ltd (VCPL) - the firm that Adani group bought out - announced that it would on October 17 launch an open offer to buy an additional 26 per cent stake from minority shareholdres of NDTV. In a stock exchange filing, Adani Enterprises Ltd said VCPL has urged SEBI "to provide its observations on the Draft Letter of Offer filed in relation to the Open Offer, in accordance with the SEBI (SAST) Regulations." VCPL along with

Sebi focuses on data, tech tools to detect malpractice in securities mkt

With an aim to strengthen transparency and fairness in the capital markets, Sebi is focusing on data tools to detect wrong-doing in the securities market as well as for its policy formulation. Apart from data, another focus area for the Securities and Exchange Board of India (Sebi) would be deployment of technology. "Data and technology are the two new tools that Sebi is building for itself," the regulator said, adding that the move would enhance transparency and fairness in the securities market. In its annual report for 2021-22, the regulator said it is increasingly using more and more data to detect wrongdoings in the markets, whether it is in respect of surveillance of trading or investigation into fraud or inspection of market intermediaries. In its decision making particularly in the context of policy formulation, the regulator said it "will rely more and more on data and eschew dogma in any form. The approach of decision making will be guided by principles and logic supporte

IDBI stake sale: To help the buyer, centre asks Sebi to ease norms

The government offered to sell a total of 60.72% stake in the IDBI bank, in early October

Merchant bankers can't undertake any other business, says Sebi

A merchant banker cannot carry on any business other than those pertaining to the securities market, according to the capital markets regulator Sebi. Providing an informal guidance in this regard to PNB Investment Services, an arm of Punjab National Bank (PNB), the Securities and Exchange Board of India (Sebi) indicated that its views might differ on a case-to-case basis. The clarification came after PNB Investment Services, which is registered as a merchant banker, sought informal guidance on whether it can act as a direct selling agent by starting a fresh business vertical for marketing retail products such as home loans, car loans on behalf of PNB or other banks. The applicant was intending to venture into another activity to act as a direct selling agent for PNB and other banks for canvassing the retail customers for generation of leads and conversion of prospects into customers. After looking into submissions, Sebi said, "since referral activities for non-security related ...

New issue pricing onus may put independent directors in a spot: Experts

Experts feel Sebi diktat may deter those with non-financial background from joining boards

IRFC profits nearly doubled under outgoing CMD Amitabh Banerjee

Banerjee joined IRFC in 2019 after serving as the director of finance at Konkan Railways

Four companies receive Sebi approval for initial public offerings

Markets regulator Sebi has given its nod for the proposed initial public offerings of four companies -- BIBA Fashions Ltd, Keystone Realtors Ltd, Plaza Wires Ltd and Hemani Industries Ltd. These companies have received their respective observation letters from Sebi, according to an update on the regulator's website as on October 14. In Sebi's parlance, issuance of the observation letter implies the go-ahead from the regulator for the proposed IPO. Ethnic wear fashion label Biba Fashion, which is backed by Warburg Pincus and Faering Capital, had filed the Draft Red Herring Prospectus (DRHP) for an IPO in April. The proposed IPO comprises fresh issuance of equity shares worth Rs 90 crore and an Offer For Sale (OFS) of 2.77 crore equity shares by the promoter and existing investors, as per the draft papers. In June, Rustomjee group company Keystone Realtors has filed the preliminary papers to raise Rs 850 crore through an IPO. It consists of fresh issue of equity shares aggregating

New twist to rivalry as Kirloskar siblings trade charges over legal fees

Sanjay Kirloskar-led Kirloskar Brothers Ltd refutes claim made by siblings Atul and Rahul that the firm paid Rs 274 crore in professional and legal expenses