Page 34 - Securities And Exchange Board Of India

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

SAT gives relief to Brickwork Ratings, stays cancellation of licence

But keeps Sebi ban on taking up new clients

Dish TV, 4 others settle non-disclosure of AGM voting results with Sebi

Direct-to-Home operator Dish TV India Ltd and four others have settled with markets regulator Sebi a case pertaining to alleged non-disclosure of voting results of the company's Annual General Meeting (AGM) held on December 30, 2021. Apart from Dish TV, its promoter Jawahar Lal Goel, group chief executive Anil Kumar Dua, compliance officer Ranjit Singh and Ashok Mathai Kurien, who was the director of the company, settled the case. These five entities have settled the case after collectively paying Rs 65.34 lakh towards settlement amount, the Securities and Exchange Board of India (Sebi) said in an order. This came after the entities proposed Sebi to settle the alleged violations of regulatory norms through a settlement order, "without admitting or denying the findings". Accordingly, Sebi, in its order passed on Monday, stated "the pending enforcement proceedings for the alleged defaults ...are settled qua the applicants." The regulator received complaints alleging that Dish TV, p

Sebi issues std operating procedure for inter-operable regulatory sandbox

Sebi on Wednesday came out with a standard operating procedure for inter-operable regulatory sandbox in a bid to facilitate testing of innovative products falling within the regulatory ambit of more than one financial sector regulators. Financial products or service providers whose business models fall within the remit of more than one financial sector regulator such as Reserve Bank of India (RBI), Sebi, IRDAI (Insurance Regulatory and Development Authority of India), PFRDA (Pension Fund Regulatory & Development Authority) and IFSCA (International Financial Services Centres Authority) will be considered for the testing under Inter-operable Regulatory Sandbox (IoRS). "To obviate the need of innovators, to engage with different regulators regarding their hybrid product, a common window has been made available," the Securities and Exchange Board of India (Sebi) said in a press release. IoRS has been prepared by the Inter-Regulatory Technical Group (IRTG) on FinTech. The group was ...

Fund houses rush to acquire talent as tightening of compliance rules weighs

New hires demand compensation beyond standard hikes to make up for impact on take-home pay due to the skin-in-the-game norms; seasoned professionals quit in droves

Sebi ups investment in data, tech for better transparency: Annual Report

Regulator equipped with numerous new algos for surveillance, inspection, says chairperson

BSE gets SEBI's approval to set up a separate social stock exchange

In July, SEBI notified rules for Social Stock Exchange (SSE) to provide social enterprises with an additional avenue to raise funds

Modest traction for MF Central in first year, phased rollout cited

The common platform for MF transactions logs 350,000 registrations and 10,000 monthly logins

Sebi panel weighs relaxations in commodity derivatives framework

Looks at how market-wide position limits are calculated for commodity derivatives contracts

Running accounts Settlement: New Sebi guidelines in motion from Friday

However, industry experts feel that with tighter rules, brokerages will need to have higher working capital and will involve operational risk of transferring large amounts

Sebi gets tougher with MF industry body for dragging feet on pooling norms

Regulator also unhappy with phase-1 of two-factor authentication framework, asks Amfi for schedule and progress reports

'Offer for sale' mechanism to get mega boost as Sebi relaxes norms

Among other things, the cooling-off period required between two OFSs has been reduced to as less as two weeks from 12 weeks at present

Sebi slaps Rs 10 cr penalty on Gautam Thapar for alleged fund diversion

Passes final order in CG Power fund diversion case; also fines Avantha Holdings Rs 5 cr and deal lenders IndusInd Bank and Aditya Birla Finance Rs 1 cr each

Stricter disclosure norms may trigger DRHP filing rush in next two months

Industry players expect companies to advance their DRHP filings before new rules kick in

Sebi clears slew of proposals; mandates tighter disclosure norms for IPOs

Buch said several decisions taken by the Sebi board were aimed at liberalisation and promoting market development