Sebi comes out with new rules for re-classification of promoter as public investor
NEW DELHI: Markets regulator Sebi has come out with new rules for re-classification of a promoter as a public investor, wherein an outgoing promoter will have to relinquish special rights as well as control over the affairs of the listed firm and not be allowed to hold over 10% stake. Besides, the promoter would not […]
Reliance Communications pays Rs 62.4 lakh to settle case with Sebi
NEW DELHI: Reliance Communications (RCom) has settled a case with the Securities and Exchange board of India (Sebi) for alleged non-cooperation with credit rating agencies and debenture trustees in violation of listing norms. The company has also reached a settlement regarding non-compliance with listing norms, including failure to inform interest payment default on debentures, Sebi […]
Asian Corporate Consultancy settles case with SEBI
NEW DELHI: Asian Corporate Consultancy along with one Dilip Anantrai Desai has settled a probe by markets regulator Sebi into alleged violation of portfolio managers norms on payment of Rs 7.4 lakh towards settlement charges. The Securities and Exchange Board of India (Sebi) agreed to settle proposed adjudication proceedings in the case after it was […]
Deloitte, EY among 5 entities shortlisted to streamline online registration process: SEBI
NEW DELHI: Regulator Securities and Exchange Board of India (SEBI) has shortlisted five entities including Deloitte and EY that will be entrusted with the task of improving online registration system, inspect market intermediaries and enhance the efficiency of the complaint redressal process. Other firms on the shortlist are Accenture Solutions, BDO India LLP and EIT Services […]
Sebi to introduce alternative payment mechanism for retail IPO investors from January
NEW DELHI: Capital market regulator Securities and Exchange Board of India (SEBI) on Thursday said it will launch Unified Payments Interface as an alternative payment option for retail investors, buying shares in a public issue, in a phased manner from January 1 next year, which will cut listing time for an IPO to three days […]
SEBI declares highest bidders for Pancard Clubs’ properties in Mumbai, Udaipur, other places
NEW DELHI: Markets regulator Securities and Exchange Board of India (SEBI) on Wednesday declared the highest bidders for four properties belonging to Pancard Clubs for a combined bid value of over Rs 54 crore, as part of its efforts to recover investors’ money. The properties include office spaces in Mumbai suburban area, a resort in […]
IPOs of Bharat Hotels and Spandana Sphoorty get Sebi nod
NEW DELHI: Bharat Hotels, which runs five-star properties under The LaLiT brand, and micro-finance lender Spandana Sphoorty Financial have received markets regulator Sebi’s go-ahead to float IPOs. With this, the total number of companies getting Sebi’s clearance to launch initial share-sales has reached 60 so far this year. Bharat Hotels and Spandana Sphoorty obtained the […]
SEBI directs Singh brothers to pay Rs 403 crore to Fortis Healthcare
NEW DELHI: Finding illegal diversion of funds from the company, markets regulator Securities and Exchange Board of India (Sebi) on Wednesday directed the Singh brothers and eight other entities to repay Rs 403 crore along with interest to Fortis Healthcare Ltd. The Singh brothers—Shivinder and Malvinder—are former promoters of Fortis Healthcare. All the entities have […]
Emami Cement files for Rs 1,000 crore IPO with SEBI
NEW DELHI: Emami Cement on Friday filed draft papers with capital markets regulator Sebi to raise Rs 1,000 crore through an initial share sale. The IPO comprises fresh issuance of shares worth Rs 500 crore, besides, an offer of sale of the same size by the company’s existing promoters and shareholders, according to the draft […]
SEBI slaps Rs 70 lakh fine on Regency Hospital, directors
NEW DELHI: Securities and Exchange Board of India (SEBI) has slapped a total penalty of Rs 70 lakh on Uttar Pradesh-based Regency Hospital as well as its two promoters for fraudulent trading in the company’s shares. In two separate orders issued on Friday, Sebi imposed fine of Rs 15 lakh on Regency Hospital, and Rs […]
SEBI may consider proposal to allow foreign entities in commodity markets
NEW DELHI: With an aim to deepen the commodity derivatives market, regulator Sebi is likely to consider a proposal to allow trading in this segment by foreign entities with exposure to the Indian physical commodity market. Besides, the regulator may deliberate on the issue of introducing a common application form for foreign portfolio investors (FPIs) […]