SEBI prohibits Anil Ambani to invest in market

Recently, an investigation has been completed by Securities and Exchange Board of India (SEBI) and it has expelled business tycoon Anil Ambani and four top officers of his group from investing in the secondary market.

They have been disqualified to do any investment till the end of the 2011. The two Anil Dhirubhai Ambani Group (ADAG) companies, Reliance Infrastructure (R-Infra) and Reliance Natural Resources Ltd (RNRL) have been suspected for unfair market business by SEBI. They have been banned for investing in the secondary market till 2012. In addition to that, SEBI has charged a fine of Rs 50 crore from both the companies.

SEBI places revelation terms for life insurance corporations

The Securities and Exchange Board of India (SEBI) has announced out revelation norms for the life insurance corporations if they put up for sale the shares to the public through Initial Public Offer (IPO).

Board accepted the recommendations for revelation by insurance companies made by the SEBI Committee on Disclosures and Accounting Standards (SCODA).

SEBI Chairman C.B. Bhave expressed that the query of public issues by Insurance Companies was believed by the SEBI Board and they are discussing about the life (insurance company) and not non-life (insurance company).

Board thought about the proposals of the SEBI Committee, which was shaped in consultation with Insurance Regulatory and Development Authority (IRDA).

MCX SX application rejected by watchdog

SEBI-MCXThe application submitted by MCX Stock Exchange Ltd to start its own equity stock exchange has been rejected by the market watchdog, The Securities and Exchange Board of India (SEBI).

In a statement that was published by the regulator's website, "The concentration of economic interest in a recognized stock exchange in the hands of two promoters [founders] is not in the interest of a well-regulated securities market."

Stiffer IPO ad standard on anvil

sebi-ipoOn Friday, exasperated above the planting of articles and unlawful commercials in the sew to a company's public offer, capital market watchdog, SEBI, dragged up merchant bankers and expressed that it is bearing in mind and swaying out along with the revived standards on IPO advertisements.

According to SEBI's executive director, Usha Narayanan, a large number of data/ articles are sowed and it is not covered in the DRHP (Draft Red Herring Prospectus) at present, the SEBI have to take slash down and propel it to investment bankers.

Lavasa to come up a public issue

HCC-LAVASASubsidiary of HCC (Hindustan Construction Company), Lavasa Corporation has said that it will be coming up with a public issue very soon.

HCC is a big infrastructure company and is known for being the maker of the famous Bandra-Worli Sea Link and the worth of the issue is expected to be 2,000 crore rupees.

The company said that it expects the issue to come by December of this year and the information was given by a senior official of HCC.

SEBI frames rules for media companies

As per a new norm by Securities and Exchange Board of India (SEBI), the declaration by media companies of their stake in any private treaties is made mandatory from now on.

However Press council of India has nodded to some of the suggestions by SEBI. These include measures like disclosure of stake owned in the news report, article or an editorial in newspapers or television covering the company and revelation of stake percentage to be uploaded on the website of media groups.

SEBI to have new guidelines for media industry

SEBISecurities and Exchange Board of India (SEBI) has said that it is going to have separate guidelines for media houses. This is being done so that it is able to have a watch and also control the ones that get equities in companies in lieu of giving them advertising space in their publications or channels.

Such treaties are private in nature and is looked as a conflict of interest.

SEBI proposes to double retail investment limit to Rs. 2 lakhs

SEBIA proposal was made by the market regulator SEBI on Wednesday to increase its investment limit to twice its current one for investing in retail, which is from 1 lakh to Rs. 2 lakhs in public issues. This move has been proposed to enable persons to take part in the primary issues of companies.

More than 5 years ago in March 2005 the limit of Rs. 1 lakh was fixed for retail investors.

SEBI Eases Norms for PN issuing FIIs

SEBI Eases Norms for PN issuing FIIsMarket regulator Securities and Exchange Board of India (SEBI) has relaxed disclosures for Participatory Notes (PN) issuing Foreign Institutional Investors (FIIs) on short positions.

According to the new rule, effective from July 2, FIIs will be mandatory to report lending of securities on a weekly basis.

As per SEBI release, FIIs will put out disclosures on every Friday, while public distribution of disclosures will take place on every Tuesday.

SEBI approaches SC for settling of jurisdiction issue

SEBI-IndiaTo settle the jurisdiction dispute between itself and Insurance Regulatory and Development Authority (IRDA), the Securities and Exchange Board of India (SEBI) has approached the Supreme Court.

It has reached the apex court seeking its involvement in settling the conflict and also deciding as to who will look after what.

In its petition, the market regulator has also sought that the cases which are pending in the Allahabad and the Bombay High Courts should be brought to the notice. In both these cases, SEBI has named IRDA and Union government as the respondents.

SEBI seeks more information on FII ownership

SEBI-FIIThe market regulator Securities and Exchange Board of India (SEBI) has asked foreign institutional investors (FIIs) and sub-accounts to unveil more information about their structure of investment in India. The SEBI has directed this guideline for the foreign investors who have invested in this Indian market before 7th of April this year.

SEBI order may not affect Insurers in short-run

SEBI-IndiaWhile the ban on the sale of ULIPs and the rift between the two regulators IRDA and SEBI is getting heated up by the day. Experts are of a view that this fight may not affect the insurance companies in the short-run. Simply because of the fact that this order came in April and the busiest quarter of January-March has been closed.

Notably, people tend to invest a lot more money in the financial products due to the offered tax-breaks and hence April is more of a lean period for the insurance companies.

Tricked investors get their money back

SEBIIt would surely give a badge for good performance to market regulator, SEBI. In a first of its kind in India, SEBI distributed Rs 23.29 crore to close to 12.75 lakh investors across the country.

These investors are the one who were not allotted shares during the IPO-boom phase in between 2003 and 2005. During that time, 21 companies came up with their initial offerings. But, due to irregularities that were existent in the market at that time, these investors were cheated off their money.

SEBI allows IDBI AMC to come up with MF

SEBI allows IDBI AMC to come up with MFIDBI Asset Management Ltd. (IDBI AMC) has got approval from the Securities and Exchange Board of India (SEBI) to launch its own mutual fund.

IDBI AMC is the wholly-owned subsidiary of IDBI Bank. It has plans to come up with its fixed income and equity based category of MFs, soon.

Societe Generale barred from issuing P-Notes

Stock market regulator, the Securities and Exchange Board of India issued a show-cause notice to foreign institutional investor Societe Generale (SocGen) and barred it from issuing new participatory notes (PNs). The move came as Sebi alleged that SocGen violated the rules relating to the issue of participatory notes.

Sebi has given 30 days to the investor to file a response to the show-cause notice. The company has to explain, why appropriate proceedings, including cancellation of its certificate of registration as an FII, should not be initiated against it. Barclays Bank had earlier faced a notice for similar violations from Sebi.

Draft Prospectus to be filed by NTPC today for follow-on public offer

Draft Prospectus to be filed by NTPC today for follow-on public offerA finance ministry official indicated that India’s largest power producer NTPC is to submit a draft red herring prospectus to the Security Exchange board of India on Monday for its follow-on public offer.

A fast track route is expected for the FPO’s speedy clearance as the plans are to make it reach the markets by first week of February. Under the fast track issue, the issue can go immediately to the public as an approval from SEBI is not required for such cases.

BSE approaches SEBI for listing

Bombay Stock ExchangeThe 134-year-old exchange, the Bombay Stock Exchange is heading for becoming the first ever listed stock exchange of India as the exchange approached market regulator the Security and Exchange Board of India (SEBI) seeking approval to go for listing its stocks through a prospective Initial Public Offer.

The agenda appeared in the recent meet of SEBI states, "Many exchanges are actively contemplating seeking permission to list their shares. One exchange has submitted a preliminary proposal." However, BSE spokesperson liked to remain mum over the issue.

Registered Stockbrokers Allowed to Sell Mutual Funds on Behalf of Clients - SEBI

SEBI Securities and Exchange Board of India announced on Friday the stockbrokers who are registered will now be allowed to sell mutual funds and undertake all required transactions on behalf of their clients post proper authorization, a move which could widen the mutual funds distribution network even further.

"The infrastructure that already exists for the secondary market transaction through the stock exchanges with its reach over 1,500 towns and cities, through over two lakh stock exchange terminals can be used for facilitating transactions in mutual fund schemes", the SEBI circular detailing the development read.

Watch out for terror funds: Sebi to stock exchanges

SEBI Market regulator SEBI has directed all stock exchanges and securities intermediaries to keep a strict watch on UN-listed terror-funding entities, including the name of underworld don Dawood Ibrahim.

The Securities and Exchange Board of India (SEBI) has asked securities intermediaries to inform the home ministry within 24 hours if they find a client whose particulars match with those of the entries listed by the UN.

Glenmark Generics files DRHP with SEBI

Glenmark Generics files DRHP with SEBIGlenmark Generics, the generics arm of Glenmark Pharmaceuticals on Thursday filed the draft red herring prospectus (DRHP) with SEBI for its initial public offer (IPO).

The company plans to raise Rs 550-600 crore from the share sale.

The raised funds from the IPO would be utilized to fund the growth plans of GGL, which was hived off as a 100 per cent subsidiary last year.

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