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| 01 March, 2021, 11:39 AM IST | E-Paper
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    Sebi slaps Rs 80 lakh fine on 8 entities for fraudulent trading activities

    An investigation was conducted by the regulator into the scrip of PMC Fincorp Ltd (PMC) for the period from March 29, 2012 to March 31, 2015.

    SAT keeps Sebi order on 63 Moons STP Gate services case in abeyance

    The company had challenged the Securities and Exchange Board of India(Sebi) order which said 63 Moons Technologies, promoted by the NSEL scam- accused Jignesh Shah is not ‘fit and proper’ to provide software services to market intermediaries.

    Sebi bars entities, individuals from securities market for fraudulent trading activities

    The entities and individuals (noticees) were found to have violated the provisions of Prohibition of Fraudulent and Unfair Trade Practices norms.

    Sebi examines feasibility to introduce freight derivatives

    Further, to prevent the fragmentation of liquidity among various stock exchanges in the commodities segment and to develop and deepen the commodity derivatives markets, Sebi will explore a proposal to allow only unique sets of commodities to be traded at each exchange.

    Sebi disposes proceedings against three entities, one individual post settlement

    As per two separate orders passed on Thursday, it was alleged that the entities had indulged in non-genuine trades and created a false and misleading appearance of trading in the stock options segment of BSE.

    Sebi levies Rs 1 cr fine on NSE in co-location case

    The regulator has also imposed a penalty of Rs 25 lakh each on Ravi Narain and Chitra Ramakrishna- the former chief executives of NSE, as it held they were vicariously liable for the acts committed by the stock exchange.

    Sebi bars Capitalaim Financial Advisory, 5 others from securities market

    The individuals who have been barred are the company's present and former directors-- Abhijeet Bajpai, Anant Tiwari, Debabrata Bhattacharjee, Sheetal Foujdar and Abhilasha Verma.

    Sebi comes out with disclosure format under insider trading rules

    In light of amendments to the PIT Regulations affecting the inclusion of members of the promoter group, and designated person in place of employee and on the basis of feedback received from market participants and exchanges, the relevant disclosure formats have been suitably revised.

    Hear appeals of NDTV promoters without insisting on deposit of Sebi's fine, SC tells SAT

    The NDTV promoters have challenged the order directing them to deposit 50 per cent of the alleged unlawful gains which the Securities and Exchange Board of India (Sebi) found to have been made by them.

    Sebi revises objective, eligibility criteria of innovation sandbox

    In addition, a steering committee comprising representatives from the enabling organisations has been formed to drive the innovation sandbox, the Securities and Exchange Board of India (Sebi) said in a circular.

    ICICI Bank settles whistleblower case with Sebi; pays Rs 28 lakh

    According to the order, the contentions of the complainant was ICICI Bank’s rights are limited to transferring an employee only to a group company and not to ICICI Foundation.

    Sebi bans three cos for providing unauthorised investment advisory services

    By virtue of providing unregistered investment advisory services, Sebi said Dalal Stocks collected Rs 2.12 crore, Devki Stocks (Rs 1.19 crore and Vishwas Stocks (Rs 93.89 lakh) during the period January 2018 to August 2020.

    AMCs to contribute Rs. 150 crore capital for limited purpose clearing corp: Sebi

    The capital market regulator said that Rs 150 crore in capital will be contributed by AMCs in proportion to the asset under management in each AMC’s open-ended debt funds.

    Blessing Agro Farm case: Sebi receives 6,643 claim forms for refund

    The last date for submitting refund applications along with the original proof of investments was October 16, 2020.The initial deadline was January 31, 2020, and the same was extended following requests from investors.

    Sebi extends relaxations for compliance with rights issues

    Earlier, this relaxation was given for rights issues opening till July 31, 2020, which was further extended till December 31, 2020.

    Asurre Agrowtech case: Sebi receives 10,574 investors' claims for refund

    The last date for submitting refund applications along with original proof of investments was October 16, 2020. The initial deadline was February 29, 2020 and the same was extended following requests from investors.

    Aptech case: Rakesh Jhunjhunwala files consent plea in insider trading case

    Apart from Jhunjhunwala, Aptech board members Utpal Sheth, Ramesh S Damani and Madhu Jayakumar are also learned to have filed consent applications with Sebi. Sheth is the CEO of Jhunjhunwala’s asset management firm Rare Enterprises.

    Sebi looks to implement project on automation of inspection, surveillance of MFs

    The Securities and Exchange Board of India (Sebi) is eyeing a major technological leap in its surveillance and investigation functions.

    Sebi orders attachment of bank, demat accounts of Vibgyor Allied Infra, 3 others

    The recovery proceedings have been initiated against the entities after they failed to repay investors' money as directed by the Securities and Exchange Board of India (Sebi) in 2014.

    Sebi slaps Rs 25 lakh fine on 2 individuals for non-compliance with directives

    The individuals were engaged in providing investment advisory services to investors upon the receipt of requisite fees without obtaining registration from Sebi, according to a Sebi order.

    Sebi fines HDFC Bank Rs 1 cr in BRH Wealth Kreators case

    HDFC Bank had granted credit facilities worth Rs 191.16 Crore to BRH and Rs 26.61 Crore to BRH Commodities, out of which an amount of Rs 87.75 Crore was granted as LAS(loan against securities).

    PowerGrid files draft papers for InVIT; plans to raise over Rs 5,000 crore

    This will be the first InVIT in the country to be floated by a public sector company. The offer includes fresh issue as well as offer- for-sale.

    National Insurance Company settles disclosure lapse case with Sebi, pays Rs 75 lakh

    Sebi agreed to settled the case after the insurance company approached the regulator with a plea to settle the matter "without admitting or denying the findings of fact and conclusions of law".

    1,018 entities​​​ involved in manipulation of illiquid stock opt for Sebi's one-time settlement scheme

    The regulator settled cases after entities paid settlement charges ranging between Rs 5 lakh to Rs 42 lakh.

    Sebi tweaks monthly cumulative reporting format for mutual funds

    Capital markets regulator Sebi on Friday tweaked the monthly cumulative reporting format, whereby asset management companies (AMCs) will have to disclose about creation of segregated portfolios.

    Supreme Court stays SAT order substituting fine imposed by Sebi with warning

    It has also been submitted that similar orders have been passed by SAT in many other cases, leading to several appeals being filed before this court by Sebi.

    Sebi permits transfer of bourses' excess contribution from core SGF of one clearing corp to another

    "It has been decided to allow transfer of excess contribution made by stock exchanges from core SGF of one clearing corporation to the core SGF of another clearing corporation, in inter-operable scenario," Sebi said in a circular.

    Sebi orders attachment of bank, demat accounts of KKDIL, others

    The recovery proceedings have been initiated against the entities after they failed to repay investors' money as directed by the Securities and Exchange Board of India (Sebi) in October 2016.

    Sebi orders attachment of bank, demat accounts of Sunshine Global Agro, others

    The penalty was imposed on them as the company mobilised over Rs 38 crore from 39,290 investors through unregistered collective investment schemes.

    Sebi plans to rope in agency to conduct risk assessment of IT infra

    The risk assessment needs to include identification of foreseeable threats, assessment of the likelihood and potential damage of these threats, and the sufficiency of controls to mitigate risks.

    Sebi comes out with norms to strengthen risk management system in clearing corporations

    The move is aimed to enhance robustness of the risk management system in the clearing corporations.

    Sebi proposes listing rule tweaks for startups

    The regulator has proposed that the compulsory shareholding period before listing for investors owning 25% or higher stake be halved to one year.

    Flexi-cap funds: Will the flexibility given to fund managers yield result?

    A flexi-cap fund works in several ways. It allows a fund manager to invest in companies of all sizes without any restrictions.

    Suspend review as Future-RIL deal in court: Amazon to Sebi

    Amazon has also asked Sebi to direct Indian stock exchanges not to issue any no-objection or approval letters to Future Retail.

    Sebi gives certain relaxations to NRIs on holding depository receipts

    NRIs can now hold DRs issued by the company under the employee stock option schemes, bonus issue and rights issue, the regulator said.

    Sebi appoints former CEC as observer to oversee e-voting for closure of Franklin Templeton's six schemes

    The Supreme Court had directed Sebi to appoint an observer to monitor the voting, which started on Saturday and will close on December 29. The e-voting will end on December 28th.

    Sebi puts in place mechanism to ease e-voting process

    At present, there are multiple ESPs providing e-voting facility to listed entities in India. This necessitates registration on various ESPs and maintenance of multiple user IDs and passwords by the shareholders.

    Sebi eases compliance norms for brokers, depository participants

    Brokers have been give time till January 31 to submit report on cybersecurity and cyber resilience audit for half year ended on September 30.

    Sebi bans Hybrid Research, Always Gain from capital markets

    Hybrid Research's proprietor and partners of Always Gainhave have also been restrained from the capital markets.

    Sebi bans Profit Mount, Right Target for providing unauthorised investment advisory services

    Sebi, prima facie, found that Profit Mount and Right Target had collected nearly Rs 41 lakh and close to Rs 44 lakh, respectively, from investors through such services.

    New Sebi mechanism fails to produce whistle blowers

    Last year Sebi announced the so-called informant mechanism for whistle-blowers, however with ‘conditions apply’.

    Sebi invites bids from agencies for office maintenance

    The agency would be responsible for providing the services of the support staff such as receptionist, data entry operator, driver, cook, office assistant and house keeper.

    63 Moons Technologies to challenge Sebi's order on STP service provider

    The Securities and Exchange Board of India on Thursday said neither the company not its promoter Jignesh Shah is ‘fit and proper’ to provide software services to market intermediaries.

    Sebi proposes to change reclassification rules of promoters as public shareholders

    The regulator also proposed exemption from the procedure for reclassification following an open offer provided the intent of the existing promoter to reclassify has been disclosed in the letter of offer.

    Sebi proposes to relax rules for re-classification of promoter as public shareholder

    The regulator also proposed exemption from the procedure for reclassification following an open offer provided the intent of the existing promoter to reclassify has been disclosed in the letter of offer.

    Finance minister addresses Sebi board

    After the presentation of the Budget every year, it is customary for the finance minister to address the boards of Sebi and RBI.

    Sebi to revamp grievance redressal mechanism at stock exchanges

    In a letter to BSE on November 13, Sebi has asked the exchange to disclose the IPF corpus on its website and update the same on a monthly basis.

    Sebi proposes risk management committee in more firms

    The regulator said the risk management committee should meet at least twice in a year from the current practice of one meeting every year.

    Sebi amends guidelines on preferential allotment by listed InvITs

    The preferential issue of units would not be made to any person who has sold or transferred any units of the issuer during the six months preceding the relevant date, the regulator said in a circular.

    Sebi bans Profitsaim, its proprietor for providing unauthorised investment advisory services

    Accordingly, Sebi directed Profitsaim and its sole proprietor Ayaz to "cease and desist from acting as an investment advisor" until further orders.

    Sebi proposes to revamp delisting rules to improve disclosure norms

    The board of directors while communicating its decision of granting approval of delisting should also disclose about the merchant banker's due-diligence as well the audit report to the bourses.

    Sebi panel proposes measures to address information asymmetry concerns among shareholders

    A Sebi panel headed by Keki Mistry, vice chairman and CEO of HDFC has given its recommendation to Sebi, in order to address concerns on information asymmetry among shareholders.

    Open offers by cos decline 39% to Rs 9,000 cr in Apr-Oct

    According to Sebi's latest monthly report, a total of 30 open offers for shares worth Rs 8,973 crore were made by the companies during the April-October this financial year (2020-21).

    Sebi orders attachment of bank, demat accounts of 6 individuals to recover Rs 5.8 cr

    The regulator had directed Mansoor and Firoz to disgorge unlawful gains (Rs 3.84 crore) along with interest (Rs 1.20 crore) in a case related to providing investment advisory services without obtaining registration from Sebi.

    Around 1.4 lakh people apply for 147 Sebi jobs

    A total of 147 vacancies were notified for Officer Grade A (Assistant Manager) by the markets watchdog to hire legal as well as IT experts, researchers, and other officials for general administration.

    Sebi orders attachment of 9 properties of GN Dairies, 3 others

    Noting that the defaulters are in possession of as many as nine properties, Sebi felt that they may dispose or alienate the assets with a view to obstruct or delay the recovery proceedings, which needs to be prevented immediately by attaching these assets.

    Sebi orders attachment of three properties of GCA Marketing, 2 others

    Noting that the defaulters are in possession of as many as three properties, Sebi felt that they may dispose or alienate the assets with a view to obstruct or delay the recovery proceedings, which needs to be prevented immediately by attaching these assets.

    Sebi orders attachment of bank, demat, MF accounts of 6 individuals

    The recovery proceedings have been initiated against these individuals after they failed to pay the fines imposed on them.

    Sebi comes out with monitoring, disclosure framework for debenture trustees

    The framework will become effective from the quarter ended December 31, 2020 for listed debt securities, the Securities and Exchange Board of India (Sebi) said in a circular.

    Investors worried as India mulls banning Bitcoin

    Following the government’s announcement that it plans to ban private cryptocurrencies, the family office has approached a leading foreign exchange lawyer to check if any laws have been violated.

    Sebi orders attachment of bank, demat accounts of ATM Agro, Sunshine Agro to recover Rs 21 cr

    ATM Agro Industries garnered funds illegally through issuance of redeemable preference shares (RPS) and secured redeemable non-convertible debentures (NCD).

    Sebi orders attachment of four properties of Life Care Real Developers, 7 others

    The properties being attached include residential and agricultural land located in Uttar Pradesh, the Securities and Exchange Board of India (Sebi) said in a notice.

    Sebi slaps Rs 2 cr fine on 7 entities for violating market norms while dealing in Zylog Systems' scrip

    Sebi found that certain entities who were found to be person acting in concert had acquired shares in excess of 5 percent and 10 percent.

    Naked warrants in QIPs coming soon

    A Warrant is an option issued by a company that gives an investor a right to subscribe equity shares at a pre determined price on or after a pre determined time period.

    Tech glitch: Sebi asks NSE to expedite detailed root cause analysis

    Sebi rules mandate stock exchanges to carry out live trading from disaster recovery site for two consecutive days every six months apart from having to conduct quarterly disaster recovery drills.

    Will take all measures to rectify underlying causes of NSE tech glitch: Sebi

    The capital market regulator said that it will also address any institutional deficiencies that may have been behind the outage at NSE, which caused immense problems for market intermediaries and participants.

    Sebi orders attachment of bank, demat, MF accounts of 11 entities to recover

    The fines were imposed by the Securities and Exchange Board of India (Sebi) between 2018 and 2020 for violating provisions of securities market norms.

    Sebi proposes extending risk mgmt committee requirement to top 1,000 listed cos

    Considering the multitude of risks faced by listed entities, the regulator said risk management has emerged as a very important function of the board.

    Stocks in the news: RIL, BEML, RCF, SAIL, Ashok Leyland and Adani Green

    Zydus Cadila on Sunday said it has received DCGI approval to initiate Phase III clinical trials of its COVID-19 vaccine ZyCoV-D.

    Tech glitch at NSE: Sebi directs bourse to do root-cause analysis

    “Sebi was in constant touch with the NSE officials and continued to monitor the situation closely. NSE was also advised to keep the market participants updated with the evolving developments,” Sebi said in a media statement.

    Sebi probed 161 new cases in 2019-20

    The cases were related to alleged violation of securities law, including market manipulation and price rigging.

    Supreme Court directs SEBI to appoint observer for Franklin Templeton voting

    The voting results and the report of the observer will be submitted to the Supreme Court in a sealed envelope. The redemptions will continue to be stayed till the date of the next hearing scheduled in the third week of January 2021.

    Portfolio managers need to provide disclosure document to clients before agreement: Sebi

    In a detailed set of Frequently Asked Questions (FAQs) on portfolio managers, Sebi said the disclosure document contains the quantum and manner of payment of fees payable by the client for each activity, portfolio risks and complete disclosures in respect of transactions with related parties.

    Sebi orders attachment of bank, demat accounts of Roselabs Finance

    The fine of Rs 2.54 crore was imposed by the Securities and Exchange Board of India (Sebi) in December 2019 for violating securities market norms by conducting fraudulent trading in the scrip of Gujarat Arth Ltd.

    Sebi forms expert group to review norms related to share-based staff benefit, issue of sweat equity

    The expert group would revisit the framework of share-based employee benefit and suggest policy changes.

    MCX gets Sebi approval to launch rubber futures contracts

    The exchange will launch the rubber futures at the earliest as this product holds special significance for market participants given the huge market size for natural rubber in India in terms of production and imports, the official said.

    InterGlobe moves Sebi to settle violations

    A consent application is an out-of-court settlement over securities law violations. It is negotiated between the regulator and the entity concerned, without admission of guilt and without denial of liabilities, and involves the payment of a fee.

    Sebi forms committee to recommend policy for securities market data

    Sebi whole time member Madhabi Puri Buch will be heading the committee, which has chief executives of stock exchanges and depositories, representatives of various stakeholders and senior officials of Sebi as members.

    Nureca files IPO papers with Sebi

    Proceeds of the issue will be used for funding incremental working capital requirements of the company and general corporate purposes.

    View: Startups deserve their long overdue 'Gabba Moment'

    Most importantly, they are the largest creators of jobs. Based on a 2010 study in the US (bit.ly/2Nww1C9) of data since 1977, the Kauffman Foundation found that net new job growth came only from startups. For India, which needs to create 10 million jobs annually, startups are clearly what the doctor ordered.

    SAT stays Sebi penalty against LIC,SBI and BOB

    “After hearing the matter for some time we feel it necessary to stay the directions contained in the order. Accordingly, the direction contained in the order shall not be implemented until the next date of hearing,” said the three-member bench of SAT. The matter has been posted for further hearing on December 3.

    Sebi may ease minimum public shareholding requirements for large IPOs

    Market participants have provided feedback that the compliance with minimum offer to public requirement i.e. at least 10% of post issue paid-up capital calculated at offer price .. is cumbersome for large issuers.

    Sebi to auction Ravi Kiran Realty's properties next month

    Under the norms, the firm is required to list its securities on the recognised bourse as the shares were issued to more than 50 persons. It was also required to file a prospectus, among other things, which it failed to do.

    Sebi gives more time to submit applications for securities market trainers

    SMARTs are expected to conduct investor awareness programs for existing and prospective investors in the securities markets.

    Sun Pharma settles fund diversion case with Sebi

    The move could be a booster for Sun Pharma shares as corporate governance issues have weighed investor sentiment for the past two years.

    Aditya Medisales case: Sebi accepts settlement pleas of Sun Pharma, promoters

    Sebi had initiated a probe against Sun Pharma, its managing director Dilip Shanghvi and its directors on the basis of two whistleblower complaints.

    Sebi inducts 3 new members into technical group on social stock exchange

    They have been inducted with effect from October 7, an update by the Securities and Exchange Board of India (Sebi) on Thursday showed.

    Sebi comes out with guidelines for investment advisers in IFSC

    According to Sebi, an IA or parent entity will fulfil the networth requirement, separately and independently, for each activity undertaken by it.

    Sebi gives Pantone Finvest conditional exemption from an open offer for Tata Communications

    Currently, 75% of the company is held by the promoters, while 25% is held by the public. The government is also a promoter in the company and holds about 26% stake, which it is planning to divest.

    IndiGo pays Rs 2.1 crore to settle case with Sebi

    The capital markets regulator said in its order on Tuesday, Rakesh Gangwal, co-founder of InterGlobe Aviation, had in his complaint alleged several violations including non-compliance of corporate governance norms by the company

    Sebi fines OPG Securities, its directors in co-location case

    However, Deloitte in its report informed that a factory reset was performed on the phone of Sanjay Gupta prior to handing it over for forensic imaging.

    Sebi to be notified as gold exchange regulator: FM

    Warehousing Development and Regulatory Authority will be strengthened to set up a commodity market ecosystem arrangement including vaulting, assaying and logistics in addition to warehousing, she added.

    KPMG Mauritius: Can SEBI's rules be imposed on auditors of overseas operations?

    KPMG Mauritius had last month resigned as the auditor of UPL's Mauritius arm. Shares of the Mumbai-based company slumped as much as 9.40% the day after the announcement.

    Sebi eases rights issue norms

    At present, the regulations required companies doing a rights issue to ensure minimum 90% subscription.

    Sebi comes out with framework to monitor foreign holding in depository receipts

    Under the framework, a listed company will appoint one of the Indian depositories as the designated depository for the purpose of monitoring of limits in respect of depository receipts.

    Sebi looks to implement project on automation of inspection, surveillance of MFs

    The Securities and Exchange Board of India (Sebi) is eyeing a major technological leap in its surveillance and investigation functions.

    Negative prices: Sebi plans risk framework

    The regulator said to handle such a scenario of ‘near zero’ and negative prices, it had formed a panel to review the risk management framework.

    Sebi cancels registration of share transfer agent Sharepro Services

    The Securities and Exchange Board of India (Sebi) had carried out an inspection in respect to records pertaining to Sharepro Services' RTA activities during January 2013 to December 2014.

    Sebi asks bourse, clearing corps to go hard on defaulting brokers

    The recovery of assets would help in meeting the obligations of clients, stock exchanges and clearing corporations, the Securities and Exchange Board of India (Sebi) said in a circular.

    Sebi announces slew of measures on delisting of subsidiaries, role of debenture trustees

    ​Sebi has also approved the proposal of strengthening the role of debenture trustees (DTs) to protect the interest of debenture holders.

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