Sahara moves SC against Sebi order on refunds
Posted Date : 28-Jun-2011 , 09:49:44 am | Posted By CASANSAAR
A Sahara Group firm has moved the Supreme Court against market regulator Sebi’s order asking it to return money collected from investors through a scheme along with 15 per cent interest.
A vacation bench headed by Justice P Sathasivam directed the matter to be listed...
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Sebi to discuss afresh NSDL's role in IPO scam
Posted Date : 27-Jun-2011 , 07:57:54 am | Posted By CASANSAAR
Sebi is set to reopen its probe into multi-crore IPO scam of 2003-2006, after more than a year of declaring as 'null and void' the charges made by its own committee against depository NSDL and others in the matter. Sebi will discuss afresh in its next board meeting on June 30 a two-member committee'...
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Sebi to Sahara: Refund money raised via OFCDs with 15% interest
Posted Date : 23-Jun-2011 , 09:45:27 am | Posted By CASANSAAR
Market regulator SEBI on Thursday asked two Sahara group entities to return money collected from millions of investors through an instrument named Optionally Fully Convertible Debentures (OFCD), citing violation of regulatory norms.
As per a Sebi order, S...
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Shares in demat form must for promoters
Posted Date : 18-Jun-2011 , 07:46:19 am | Posted By CASANSAAR
Market regulator Sebi on Friday said that the promoters of all the listed companies in India should dematerialize their holdings fully by September 30, 2011. Failing which, a Sebi notice said, the scrip will be shifted to tarde-to-trade segments of the bourses.
"In order to further promote demater...
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SEBI relaxes norms on changing names by listed firms
Posted Date : 16-Jun-2011 , 09:24:30 am | Posted By CASANSAAR
Relaxing provisions for change in names by companies, regulator SEBI today said any listed firm seeking to undertake such an exercise can do so provided that the amount invested in new projects associated with change of profile is at least 50 per cent of their assets.As per the earlier rule, at leas...
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Sebi asks rating agencies to adopt standard symbols
Posted Date : 15-Jun-2011 , 10:05:07 am | Posted By CASANSAAR
Market regulator Sebi today asked credit rating agencies (CRAs) to adopt standard symbols and definitions devised by it within four months, a move that will help investors to better understand financial health of firms."It has been felt that there need to be common rating symbols and definitio...
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Sebi begins search for four new executive directors
Posted Date : 09-Jun-2011 , 11:53:15 am | Posted By CASANSAAR
Market regulator Sebi today said it plans to induct four new executive directors, who would replace some key incumbent directors handling important departments like mutual funds and secondary markets.Starting the process for hiring new directors, Sebi today invited applications for four posts ...
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SEBI launches complaints redress system
Posted Date : 08-Jun-2011 , 08:51:10 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) launched a centralised web-based complaints redress system (SCORES) on Wednesday.
“This would enable investors to lodge and follow up their complaints and track the status of redressal of such complaints from anywhere. This would also ...
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SEBI plans independent auditor for IPOs
Posted Date : 05-Jun-2011 , 09:07:07 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) is contemplating introducing a process audit — to be carried out by an independent auditor— of initial public offerings or IPOs.
The auditor would examine the procedures followed by registrar & transfer agents responsible for...
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Delhi Court fines plantation firm for flouting SEBI norms
Posted Date : 30-May-2011 , 05:47:25 am | Posted By CASANSAAR
A plantation firm and its three directors have been slapped with a fine of Rs two lakhs by a Delhi court for raising huge fund from the public after promising them high returns without prior approval from market watchdog Securities and Exchange Board of India (SEBI).Additional Sessions Judge (ASJ) P...
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Stock brokers get Sebi relaxation on access to investor accounts
Posted Date : 16-May-2011 , 08:55:39 pm | Posted By CASANSAAR
Sebi has allowed brokers an uninterrupted access to their clients' accounts by seeking one time authorisation, reversing its earlier direction of such a requirement every year. Sebi has agreed to drop the requirement of stock brokers seeking 'running account authorisation' from their clients at leas...
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Sebi mulls new incentive structure for MF agents
Posted Date : 15-May-2011 , 11:19:16 am | Posted By CASANSAAR
A panel set up by Sebi to boost mutual fund investments through distributors is considering a new incentive model, wherein investors could be asked to pay a service fee and commissions would be borne by fund houses.The proposals also involve a single-cheque payment for the combined amount of the agr...
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SEBI to strengthen market surveillance mechanism
Posted Date : 15-May-2011 , 11:17:28 am | Posted By CASANSAAR
Capital market regulator Securities and Exchange Board of India (SEBI) has proposed to put in place a business intelligence gathering mechanism with an aim to enhance its surveillance and protect investors' interest."Surveillance is a vital link in the chain of activities performed by the regulator ...
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Investors feel cheated like in Harshad scam: SC to Sahara
Posted Date : 12-May-2011 , 09:22:18 pm | Posted By CASANSAAR
The Supreme Court asked the Security and Exchange Board of India to proceed with its probe into Sahara group’s OFCD scheme. The apex court said that it will wait for the market regulator to come up with its findings while observing that it does not want investors to feel “cheated” ...
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SC to hear petition on NSDL role in the IPO scam
Posted Date : 08-May-2011 , 10:58:14 am | Posted By CASANSAAR
The Supreme Court will tomorrow hear a petition seeking directions to market regulator Sebi to take action on the report of a high-powered committee, which had probed the IPO scam of 2006 and NSDL's role in it.The matter would be heard by a bench comprising justices RV Raveendran and AK Patnaik.Sebi...
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Sebi to outsource investor helpline to 3rd-party call centre
Posted Date : 05-May-2011 , 11:14:20 am | Posted By CASANSAAR
Market regulator Sebi has decided to outsource its investor helpline service to a third-party call centre, where at least 500 agents would be required to attend to investors' calls on issues like IPOs and trading.The decision to outsource its investor helpline comes within weeks of Sebi deciding to ...
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Sebi wants IPO bankers to disclose past record
Posted Date : 01-May-2011 , 11:27:16 am | Posted By CASANSAAR
With an aim to rein in cases of over-pricing and over-hyping of IPOs by merchant bankers, market watchdog Sebi wants them to tell the investors about their past record in handling the public offers and also keep the prices at realistic levels.Sebi has expressed its displeasure in very clear te...
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SEBI settles case against Dena Bank for Rs 10 lakh
Posted Date : 26-Apr-2011 , 11:52:51 am | Posted By CASANSAAR
The capital market regulator SEBI today settled and passed a consent order in a case against Dena Bank on payment of Rs 10 lakh for their alleged involvement in violation of insider trading norms.The case relates to Dena Bank's trading in shares of Alka Securities wherein it allegedly breached the r...
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SEBI to establish toll free helpline for investors
Posted Date : 24-Apr-2011 , 08:35:26 am | Posted By CASANSAAR
To resolve investors' grievances and spread financial literacy, market regulator SEBI will set up a toll free helpline to respond to queries of investors and help track the status of their complaints.The investors, according a strategic action plan approved by the SEBI Board earlier, will be able to...
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SEBI to set up forensic accounting cell for checking fraud
Posted Date : 19-Apr-2011 , 08:30:57 pm | Posted By CASANSAAR
Security Exchange Board of India (SEBI) will soon set up a forensic accounting cell to identify any bungling in the books and regulatory filings of listed firms and market entities.
The market watchdog would also churn out new investigative methods with an aim to catch fraudsters early in their sin...
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SEBI semay allow sovereign funds to invest more
Posted Date : 18-Apr-2011 , 08:24:19 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) is considering making changes to the takeover and foreign institutional investor (FII) regulations which would allow select sovereign wealth funds to invest beyond the current threshold limit of 10%.
This is being done to make the regulation...
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Sebi working on alternative of corporate governance
Posted Date : 13-Apr-2011 , 10:33:51 am | Posted By CASANSAAR
In a bid to bring in greater transparency and enhance accountability of India Inc, market regulator Securities and Exchange Board of India (SEBI) today said it is working on an alternative model of corporate governance.
"A committee is working on it. We have also asked the MCA (Ministry of Corporat...
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SC notice to Indiabulls over SEBI plea
Posted Date : 09-Apr-2011 , 11:26:49 pm | Posted By CASANSAAR
The Supreme Court has issued a notice to Indiabulls Securities after SEBI challenged a Securities Appellate Tribunal order setting aside the penalty imposed against the firm by the market regulator for alleged manipulative and fraudulent practices in the F&O segment.
Issuing the notice to the I...
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FIIs invested Rs 10 lakh cr till FY'11: Sebi
Posted Date : 06-Apr-2011 , 09:25:25 pm | Posted By CASANSAAR
Betting high on Indian market, Foreign investors have purchased stocks and bonds worth Rs 10 lakh crore in the fiscal ending March 31.
Foreign institutional investors (FIIs) have purchased stocks and debt securities worth Rs 9,92,595.15 crore in the fiscal 2010-11, according to the latest available...
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Voda seeks Sebi role in fight with Essar
Posted Date : 26-Mar-2011 , 10:30:43 pm | Posted By CASANSAAR
The differences between British telecommunications group Vodafone and Essar Group in their joint venture-Vodafone Essar- escalated further on Friday with Vodafone seeking to bring market regulator Sebi into the case as a party.
That's n...
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SEBI slaps internet curbs on broker staff to check price manipulation
Posted Date : 26-Mar-2011 , 10:15:33 pm | Posted By CASANSAAR
The Securities and Exchange Board of India (SEBI) today announced a new code of conduct, which restricts access to internet forums for employees of market intermediaries, to ensure that unsubstantiated news, which could distort normal functioning and prices of stocks, do not ci...
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Sebi bars 6 entities from market, slaps Rs 36 crore penalty
Posted Date : 14-Mar-2011 , 12:16:54 pm | Posted By CASANSAAR
Sectoral regulator Sebi on Friday barred six market intermediaries from trading in securities for allegedly carrying out manipulations in various IPO issues and also slapped a penalty of Rs 36.09 crore.
"Roopalben N Panchal, Devangi Panchal, Dipak Jashvantlal Panchal,...
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Sebi wants IPO forms short & simple
Posted Date : 14-Mar-2011 , 08:39:46 am | Posted By CASANSAAR
As part of its efforts to make it easier for investors to enter the stock market through public issues, Sebi is considering making application forms simpler and shorter for the IPOs.
The market regulator is also considering a common I...
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