NCLAT, in view of this, directed Reliance in its Wednesday order to comply with Sebi regulations.
There’s also a technological reason for the migration of market scuttlebutt from WhatsApp to Telegram — investigative agencies had cloned mobile phones of accused persons and backed up the latter’s WhatsApp messages, which were used as evidence. Telegram has attracted over 100 million downloads globally on the Android Play Store.
The move comes just a day after the board of Sebi approved a decision in this regard.
The development comes following a global caution notice from the FATF.
Mutual fund participants believe that the recent decisions by Sebi are aimed at strengthening the capital markets by reducing highly-leveraged trading and thereby attracting more retail participation.
Shaw had delayed making the requisite disclosures with respect to change in her shareholding.
NCDEX is country’s largest agri-derivatives exchange and 2nd -largest commodity derivatives bourse.
According to market sources, size of the initial public offer (IPO) is around Rs 1,000 crore.
"You can't make it a bland statement,"Mohandas Pai said, adding the specific concerns needs to be allayed.
Sebi also extended the BRR requirement to top 1,000 companies, from 500 currently.
Amid the crisis at DHFL, RBI on Wednesday superseded the board of the company.
The Special Court in Mumbai is expected to soon frame charges against the accused- Sahara chairman Subrata Roy and his accomplices under the Securities and Exchange Board of India (Sebi) Act, considered to be the first stage for the commencement of trial.
Base net worth of portfolio managers has also been raised to Rs 5 crore from Rs 2 crore.
The disclosure on defaults must be made within 24 hours from the 30th day, the capital market regulator said.
Speaking at an event organised by former Sebi chief M Damodaran here on Thursday, Arijit Basu, a managing director at SBI, also conceded that the bank has erred on some business decisions and cannot attribute those to social compulsions.
Reliance Industries didn’t respond till press time Wednesday seeking comment.
A Sebi probe also found that Sen, at the time of seeking registration as an investment adviser with the regulator, has declared that he was not engaged in investment advisory services prior to making this application.
On challenges, Tyagi said there are broader challenges, including compliance requirements.
The watchdog has asked listed companies to split the post of chairman and managing director. The norm would be effective from April 1 next year.
The Supreme Court on Monday stayed a direction in the order of Securities Appellate Tribunal (SAT), which stopped market watchdog Sebi, from barring the auditors from auditing listed companies. In January 2018, the Securities and Exchange Board of India slapped a two-year ban on Pricewaterhouse (PwC), an arm of PricewaterhouseCoopers India, from auditing any listed company for its role in the Rs 7,800 crore Satyam scam. The SAT, however, quashed the two-year ban.Satyam case: SC restores Sebi's power to restrain erring auditing firms
These entities have been barred for a time period ranging from five years to eight years.
The SAT, in its order which set aside the ban on audit firm Price Waterhouse (PwC), had noted that SEBI does not have the power to bar auditors. Earlier, the SEBI had challenged SAT's decision to quash a two-year ban that was imposed on PwC in connection with the Rs 7,800 crore Satyam fraud.
Three schemes from the category that is mandated to invest in a concentrated portfolio of 30 stocks have found place among the top five performers in the multi cap category in the last one year.
The appellate tribunal directed Sebi to implead in the case and offer its views.
Sebi noted that the firms violated the provisions of the PFUTP norms.
The stricter norms for portfolio managers are aimed at reducing mis-selling.
Last year, the government amended the Insolvency & Bankruptcy Code to treat homebuyers as financial creditors and allowing them to initiate corporate insolvency resolution process under Section 7 of the Code against defaulting promoters. A group of builders challenged the status in the Supreme Court. However in August, the apex court rejected their plea
These modifications shall require approval from product advisory committee and approval of regulatory oversight committee to be obtained post facto.
"Stock exchanges and depositories shall map the existing UCCs with the demat account of the clients latest by December 31, 2019," the regulator said in a circular.
This unabated exodus reflects a trust deficit in corporate India, said the chairman of a leading conglomerate.
The net NPA divergence -- the difference between the NPAs reported by the bank and that assessed by the RBI -- was at Rs 2,565 crore for 2018-19.
The divergence in net NPAs of the bank stood at Rs 2,299 crore for 2018-19.
Market regulator, SEBI, wants to introduce the concept of controlling shareholders.
The Sebi had barred the company and 12 of its promoter group entities from dealing in equity derivatives.
Every credit rating of such issuer will be reviewed at least once a year, by a registered credit rating agency.
On November 23, 2011, IMT entered into a SUA with Raghav Bahl, five entities controlled by him and NW18.
The bias for the index remains negative until it decisively breaches the 11,950-12,000 zone, said analysts.
The two-day summit, to be held on November 21-22 in Mumbai, will witness the participation of all categories of stakeholders, including business leaders, regulators, corporate chieftains, directors, lawyers, chartered accountants, other professionals and board members.
Here’s breaking down the pre-market actions.
Brokers said they could end up paying 30-35 per cent less in initial margins.
Some mutual fund advisors are asking their clients to choose arbitrage funds over liquid, ultra short or short duration funds for their short-term needs.
Adjusted profit for FY19 after taking into account divergence in provisioning was Rs 1,084 cr.
ABG Shipyard is undergoing insolvency proceedings.
Analysts said the advance-decline ratio needs to improve, as the index looks to take out the 12,000 level in the coming days.
The appellate tribunal has directed to list the matter on November 18 for orders.
The move comes following the directions of the Supreme Court, Sebi said in a notice.
Fund managers had bought shares worth Rs 1.12 lakh crore during January-October 2018, according to the data provided by the Sebi.
Gammon India is currently fighting a bankruptcy petition filed by banks .
On Monday, more than 2 million shares were on offer to be sold, but there were no buyers.
The comments come after Nilekani said processes at Infy are so strong that God cannot change their numbers.
The regulator said that all existing FPIs registered as category III FPIs under the 2014 regulations shall be deemed to have been registered as Category II FPIs under the new regulations.
Sebi recently announced operational guidelines for FPIs and depository participants.
The regulator has also clarified that no pre-clearance is required for exercising employee stock options.
The company has sought an exemption on tapping the markets from the Sebi.
Last month, Infosys had informed that Sebi requested additional information from the company concerning the anonymous complaints.
The directive comes against the backdrop of liquidity woes in the NBFC sector raising concerns about mutual fund investment in such stressed companies.
The circular mentions about the requirements to be fulfilled by entities registered with the UIDAI as KYC User Agency (KUA) as well as for sub-KUA.
For the purpose of this circular ‘actual default’ by the issuer of such instruments shall be considered for creation of segregated portfolio.
Rajesh Bhatia, Geeta Bhatia, Giridharilal S Bhatia and Hiten Trivedi are the officials from whom the ban is lifted.
Earlier, fund houses were required to inform the same to valuation agencies only.
A combination of scheme categorisation, economic downturn, and market downturn, coupled with negative news on the NBFC sector and couple of frauds, has created mayhem, in the market which led to underperformance of many mutual fund schemes.
Internationally, cross-margining is available on various products, including between Indices.
Brokerage firms help people buy and sell securities by acting as agent.
Financial planners feel a stable fund management team is a prerequisite before recommending an actively managed equity mutual fund scheme.
The company paid Rs 19,12,500 towards full and final settlement of the alleged default.
Some long-standing concerns remained even after the regulator issued the new guidelines.
Mutual funds and other institutional investors, who are the consumers of the rating agencies, have been strangely silent, despite having been let down in several egregious cases.
A company will have to appoint any one depository as its designated depository for the purpose of monitoring the foreign investment limits.
To further expand markets, we need to further simplify them, said Vikram Limaye, MD and CEO.
Since April 1, transfer of securities held in physical mode is not permitted.
The nomination and remuneration committee will have to be chaired by an independent director.
The second phase was to be implemented from July 1, 2019.
The second phase was to be implemented from July 1, 2019.
In 2008, Sebi had allowed cross margining across cash and exchange traded equity derivatives segments.
Fund managers had bought shares worth about Rs 1.12 lakh crore during January-October 2018.
The chief ratings officer has been asked to directly report to the ratings sub-committee of the board of the CRA.
Chandrasekaran said the slowdown is creating a pressure on jobs, and while the cyclical issues ailing the economy get addressed, there are strengths in the structural front, like the demography, and also opportunities presented by technological breakthroughs where India has the edge.
The order comes following an appeal filed by Victor Fernandes and Sangeeta Fernandes seeking further direction from the tribunal.
V.R. Venkatesh, the former CFO, CG Power has denied any sale of property in Nashik in connection to the CG Power fraud he is primarily accused of. In its investor presentation in August, CG Power had listed several alleged discrepancies or fraudulent transactions including two instances of sale of company properties in Nashik and Kanjurmarg.
The government notified the Insolvency and Bankruptcy Rules, 2019, to provide a generic framework for insolvency and liquidation proceedings of systemically important financial service providers, other than banks.
In the case of DHFL, bankers want mutual funds on board to ensure that no entity takes a unilateral decision.
Sebi has imposed fines on the entities in the range of Rs 5 lakh to Rs 10 lakh each.
Sterling and Wilson has sought more time to repay loans worth Rs 2.341 crore.
Fund houses attributed the fewer NFOs in 2019 to tepid investors' sentiment and liquidity crisis in debt funds.
Lawyers dealing with the company’s legal strategy said Infosys followed all the required procedures as per its internal whistleblower policy. They are also taking a view that if whistleblower complaints are disclosed without verifying the veracity of the charges, they would hurt the company and also the interests of minority investors.
APPL was a group company of SKIL, where Mohnot and N Ravichandran worked, according to Sebi order.
Indian Bank has reported a divergence of Rs 820 crore in its net non-performing assets (NPAs) for 2018-19.
C K Nithyanand and B G Srinath were non-executive directors of Way2Wealth at the time of violation.
Currently, such divergences are disclosed by banks in their quarterly financial results.
The differences between co-founders and co-promoters -- Rakesh Gangwal and Rahul Bhatia -- came to the fore in July after Gangwal sought market regulator Sebi's intervention to address alleged corporate governance lapses at the company. They are the promoters of InterGlobe Aviation which operates IndiGo, the country's largest airline in terms of domestic market share.
In a chargesheet filed by the EOW in the Chief Metropolitan Magistrate court in Karkardooma in Delhi on Monday, the police said it found evidence of alteration and uploading wrong credentials with the NSDL system and transferring of MF units of Dalmia Cement) through forged signatures of the authorised signatories.
The move comes following the directions of the Supreme Court.
In recent months, there have been several instances of under-reporting of bad loans by lenders, prompting regulatory action by the RBI.
The one of its kind index, the AGRIDEX tracks and replicates the performance of the ten most liquid commodities traded on the NCDEX’s platform.
Earlier this month, the government approved a Rs 25,000 crore fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings in a bid to boost growth by steering consumption in real estate and associated sectors.
State-owned NBCC sweetened its bid to acquire bankruptcy-bound Jaypee Infratech.
We stand by the company and each other as promoters, Mistry told. We are not moving away from our commitment to honour in full all the obligations towards the company. The promoters were scheduled to pay Rs 2,563 crore to Sterling and Wilson Solar by November 18. The promoters had repaid Rs 250 crore.
A host of measures taken by the Securities and Exchange Board of India (Sebi) to enhance the safety of debt mutual funds are likely to drag down the returns from these schemes, say mutual fund advisors.
Tulip Expotrade, Subah Multimedia, Shraddha Entertainment, Daffodil Tradex, Chetan Dogra HUF and Chetan Dogra are the entities facing the restraint.
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