Madhabi Puri Buch joins SEBI as Whole Time Member

Madhabi Puri Buch joins SEBI as Whole Time Member

Mumbai (Maharashtra) [India], Apr. 6 : Madhabi Puri Buch took charge as Whole Time Member of Securities and Exchange Board of India ( SEBI) in Mumbai on Wednesday for a tenure of three years or until further orders.

Buch will handle the Market Regulation Department, Market Intermediaries Regulation and Supervision Department, Integrated Surveillance Department, Department of Economic and Policy Analysis, Office of Investor Assistance and Education, National Institute of Securities Markets and Information Technology Department.

Prior to joining, Buch served as the Consultant to the New Development Bank in Shanghai and as the Head of the Singapore office of the Private Equity Firm, Greater Pacific Capital.

Setback to RIL as SEBI bars 13 companies from dealing in equity derivatives

Setback to RIL as SEBI bars 13 companies from dealing in equity derivatives

New Delhi [India], Mar. 25 : The Securities and Exchange Board of India (SEBI) has barred 13 companies, including RIL, from dealing in equity derivatives in the Futures and Options (F&O) segment of stock exchanges, directly or indirectly, for a period of one year.

The SEBI has also directed RIL to deposit Rs. 447.47 crore within 45 days.

The board also directed to charge 12 percent interest on the amount of Rs. 447.47 crore from the date of November 29, 2007, considered to be the biggest penalty in insider trading.

Following are the points mentioned in the SEBI order:

SEBI gives nod to mutual funds investment in REITs, InvITs

SEBI gives nod to mutual funds investment in REITs, InvITs

New Delhi [India], Jan 17 : The Securities and Exchange Board of India (SEBI) board, which has been looking at ways to attract more investors, has allowed mutual funds to invest in real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) that have been classified as hybrid instruments.

Under the same guidelines, the mutual fund can invest up to five percent of its net asset value in units of a single issuer of REITs and InvITs, while the cap will not be applicable in the case of index fund or sector or industry-specific scheme.

Keeping the overall limit at 10 percent, the Net Asset Value (NAV) in units of REITs and InvITs is aimed at reducing the overall transaction cost and protecting the interest of public shareholders.

Sebi, exchanges tighten vigil for Budget day trading

Sebi, exchanges tighten vigil for Budget day trading

New Delhi: Anticipating huge volatility during the special stock market trading on Budget day on Saturday regulator Sebi and stock exchanges have enhanced vigil to keep manipulators at bay and ensure smooth operations.

The surveillance systems have been put on high alert, fearing attempts by manipulators to take advantage of high anticipations associated with the Budget, top officials said, adding that markets are expected to witness a huge turnover, including by foreign entities.

Various market entities have also been asked to ring-fence their systems and infrastructure from any sudden volatility.

Sebi has advised bourses to keep vigil on companies: Minister

Sebi has advised bourses to keep vigil on companies: Minister

New Delhi: Market regulator Sebi has advised exchanges to keep a 'constant and strict vigil' on companies as it has found many firms to be misusing the stock exchange platform for tax evasion, Parliament was informed Tuesday.

Besides, 83 entities have come under the scanner of Securities and Exchange Board of India (Sebi) during current fiscal for raising funds from public through illicit schemes.

Sebi, which has conducted preliminary inquiries, has prima-facie observed that companies acting in concert with each other have misused the stock exchange system to generate fictitious long-term capital gains tax, which is tax exempt.

These companies have indulged in these activities to evade tax.

Firms face heat on sudden share price surge, 'speculative' leaks

Firms face heat on sudden share price surge, 'speculative' leaks

New Delhi - A large number of listed firms, including top blue-chips, are facing heat of the stock market authorities for sudden surge in their share prices and trading volumes as also for 'speculative' information leaks leaving investors at large in the lurch.

In just about one and a half months since the beginning of this year, the stock exchanges have sought 'clarifications' from at least 19 Sensex blue chips including giants like Mahindra and Mahindra, Hindustan Unilever, SBI, Coal India, Wipro, Hero Motocorp, ICICI Bank, Cipla and L&T.

Beyond Sensex companies also, at least 100 such notices have been issued so far in 2015.

Sebi lowers Sahara case expense estimates to Rs 25.88 cr

SebiNew Delhi: As a prolonged Sebi-Sahara battle continues, the regulator has revised lower the expenditure it intends to recover from the business group to Rs 25.88 crore in the current fiscal towards money spent on identifying the investors and making refunds.

As per the court orders, Saharas were asked to bear the costs incurred by Sebi in identifying the investors and repayment of refunds to them, which has been an uphill task for the capital markets watchdog.

SAT to hear DLF plea against Sebi order tomorrow

Mumbai - With Securities Appellate Tribunal set to hear DLF and its senior executives' plea against Sebi ruling on Wednesday, the focus is likely to be on the accounting practices that were followed by the realty major.

The tribunal, last month, clubbed the petition from DLF's promoters with the company's main plea against Sebi ruling.

In October, the market watchdog had banned DLF, its chairman K P Singh and five other senior officials from the securities market for three years with regard to alleged non-disclosure of three of its hundreds of subsidiaries in the 2007 IPO filing.

Sebi finds former Tata Finance MD guilty of illegal trades

SebiMumbai: In a high-profile case dating back to over 12 years, Sebi has found former Tata Finance Managing Director Dilip Pendse had executed "illegal transactions" in stocks of four firms including Infosys and erstwhile Telco.

The latest order, which has been passed after years of probe and various directions issued by Sebi itself and the Securities Appellate Tribunal in between, prohibits Pendse from accessing capital markets for two years.

Sebi working on guidelines to check wilful defaulters: Sinha

UK-SinhaNew Delhi - Sebi is working on guidelines to deal with wilful defaulters but there is no restriction at present on such entities from raising funds from the capital market, according to the regulator's chief U K Sinha.

"We are working on the guidelines for wilful defaulters. It will take some time," Sebi Chairman Sinha said here Wednesday.

He also said that at present, there is no restriction on wilful defaulters from raising funds.

Earlier this month, United Bank of India had declared Kingfisher Airlines, its promoter Vijay Mallya and three other directors as wilful defaulter citing alleged diversion of funds.

BSE gets SEBI, CCI go-ahead for USE takeover

BSEMumbai : Markets regulator Securities and Exchange Board of India (SEBI) and the fair trade watchdog Competition Commission (CCI) have approved the merger of United Stock Exchange of India with the BSE, making it the first merger of two exchanges in the country, the premier bourse said Monday.

For the merger to go ahead, however, the exchanges will have to secure the approval from the Bombay High Court as well, where the proposal is pending.

The merger of the struggling currency bourse USE will see BSE adding its 27 state-run banks and some private and foreign banks as its shareholders. The BSE is already the single largest shareholder in USE with

Govt notifies Act to empower Sebi with extra powers

Govt notifies Act to empower Sebi with extra powersNew Delhi - Giving more teeth to Sebi to clamp down on illicit money-pooling schemes and other frauds, the government has notified a new law empowering the capital market regulator to pass orders for attachment of properties, arrest of defaulters and to access call data records.

PACL to move Tribunal against Sebi order

SEBINew Delhi : Facing a Sebi order with charges of running an illicit money pooling scheme worth about Rs 50,000 crore, PACL Ltd on Friday said that it will approach the Securities Appellate Tribunal against the directive of the capital markets regulator.

"Sebi has unfortunately failed to recognize the submissions of the company that it can't be treated like a CIS. The company would now appeal this order before the Securities Appellate Tribunal," PACL said in a statement after the Sebi order.

MCX to ask SEBI to waive 2% cap on FTIL stake sale

SEBIMumbai : The board of Multi-Commodity Exchange of India has decided to ask market regulator SEBI to relax the 2 percent lock-in cap on its promoter FTIL to enable the latter to sell entire 5 percent MCX stake via a block deal and comply with various regulatory orders.

The largest commodity bourse has decided to move SEBI seeking a waiver of the 2 percent stake sale cap clamped on FTIL. According to the exchange, this cap prevents FTIL from exiting MCX completely.

"If this cap is removed, FTIL can sell its remaining 5 percent stake in the exchange even via a block deal," a board member said.

Sebi slaps over Rs 1 cr fine on three entities

SEBIMumbai : Market watchdog Sebi on Wednesday imposed a total fine of over Rs 1 crore on Hooghly Mills Project and Hooghly Stocks & Bonds and Mega Resources for failing to make public announcements with regard to acquisition of shares.

The Securities and Exchange Board of India (Sebi)has levied a fine of Rs 52 lakh on Mega Resources and a cumulative penalty of Rs 50 lakh on Hooghly Mills Project and Hooghly Stocks & Bonds for the failure to comply with the provisions of SAST (Substantial Acquisition of Shares and Takeover) Regulations.

SAT to hear plea against Sebi order on MF distributors today

SAT to hear plea against Sebi order on MF distributors todayMumbai - The Securities Appellate Tribunal will on Friday hear Financial Planning Supervisory Foundation's plea against in-principle approval given by Sebi to IMFI for a self-regulatory organisation (SRO) for mutual fund distributors.

The tribunal had last heard the matter on June 30.

FPSF, promoted by Financial Planning Standards Board India, was one of the applicants for setting up this SRO, but it was Institute of Mutual Fund Intermediaries which got the go-ahead earlier in February.

About 2,000 demat accounts stand frozen; Sebi recovers some dues

About 2,000 demat accounts stand frozen; Sebi recovers some duesNew Delhi - Markets regulator Sebi's efforts to recover dues from various defaulters and fraudsters through attachment and other proceedings seem to have begun yielding results, as payments have begun to trickle in.

However, nearly 2,000 demat accounts of individuals and companies still stand frozen for violations of various securities laws and default in penalty payments under orders by the capital markets regulator, shows data available with two depositories CDSL and NSDL.

SEBI bars Satyam founder Ramalinga Raju from market for 14 years

Ramalinga-RajuMumbai, July 16 : The Securities and Exchange Board of India (SEBI) has barred founder of Satyam Computer Services B Ramalinga Raju along with four others from the market for 14 years, and has also slapped a fine of approximately Rs. 1,850 crore in connection with the massive corporate fraud case.

The market regulator has levied a penalty of Rs. 1850 along with an interest at 12 per cent per annum, which would be calculated from January 7, 2009.

Sebi hopes anti-ponzi ordinance would become a law soon

SebiNew Delhi: Armed with powers given through an ordinance to take on investment frauds, Sebi chairman U K Sinha today said he hopes it would soon become a permanent law to ensure continued clampdown against illegal investment schemes.

Sinha said that a large number of illegal deposit-taking schemes were still defrauding the investors, although the capital markets regulator has used the powers granted through the ordinance very effectively to bring to book many entities engaged in such activities.

L&T Finance case: Factorial says will cooperate with Sebi

L-T-Finance-HoldingsNew Delhi: Facing insider trading charges by Indian capital markets regulator Sebi, Hong Kong-based hedge fund manager Factorial Capital Management on Friday said these allegations are "without merit" and a complete probe will fully absolve it in the case.

In an interim order passed late last night, Sebi barred Factorial from the Indian securities market after finding its Cayman Islands-based fund - Factorial Master Fund - to have allegedly profited through 'short-selling' in shares of L&T Finance Holdings on the basis of unlawful access to insider information about the company.

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