Mining conglomerate Vedanta has been warned by markets regulator Sebi to strengthen its internal control for corporate announcements and press releases. Vedanta told exchanges that it has received a letter from NSE, annexing a letter issued by Sebi in which an administrative warning has been issued to Vedanta. “The company has been directed to place … Read more
Shares of JM Financial plunged 19% on Wednesday to the day’s low of Rs 77.55 after the Reserve Bank of India (RBI) barred JM Financial Products from undertaking any form of business in shares and bonds funding due to regulatory violations and governance lapses, said a strongly-worded letter issued by the banking regulator on Tuesday. … Read more
Capital market regulator Sebi has approved IPOs of three companies including that of new age insurance company Go Digit, which is backed by star cricketer Virat Kohli. Digit’s IPO has hit multiple hurdles over compliance issues, which delayed approval for the public offer. Sebi had returned the draft offer document twice as the regulator raised … Read more
Sebi is using Artificial Intelligence (AI) for investigations, its Whole Time Member Kamlesh Chandra Varshney said on Saturday and emphasised that entities should keep track of technological developments. Against the backdrop of instances of manipulations in the stock market, he said the message is that abiding with the law will be more beneficial and violations … Read more
Mumbai: The Securities and Exchange Board of India (Sebi) will question the top management of Zee Entertainment Enterprises (ZEE) – including founder Subhash Chandra, chief executive and managing director Punit Goenka, the chief financial officer, as well as current and past board members – on the alleged fund diversion at the media firm, said two … Read more
India’s markets regulator is looking at whether local mutual fund schemes investing in small and mid-cap stocks would be able to withstand sharp falls in stock prices or sudden outflows, according to two sources with direct knowledge of the matter. Such funds have seen heavy inflows over the past year, pushing up the prices of … Read more
Capital markets regulator Sebi has returned the draft IPO papers of Gretex Share Broking, a move that might delay the company’s initial share sale. The proposed IPO is a combination of a fresh issue of 1.67 crore equity shares and an offer-for-sale (OFS) component of 30.96 lakh shares by selling shareholders. Proceeds from the fresh … Read more
Mumbai: A proposal on extending trading hours for equity derivatives mooted by the country’s premier exchange has hit a roadblock as brokers remain divided over the introduction of the new routine. The chief of the Securities and Exchange Board of India(Sebi) on Monday said there are many divergent and diverse views right now, even among … Read more
New Delhi: In a move aimed at ensuring ease of compliance and lower costs, Sebi on Tuesday said promoters of companies can give shares to their employees under the Offer For Sale (OFS) through the stock exchange mechanism. At present, shares under OFS are offered to the staff outside the stock exchange mechanism. Based on … Read more
Mumbai: The Securities and Exchange Board of India (Sebi) is set on imposing tightened ultimate beneficial ownership norms for overseas investors with effect from February 1 despite pressure from foreign banks and a section of offshore fund managers to ease the rules ahead of the deadline, said a person with direct knowledge of the matter. … Read more
