Page 10 - Sebi

EFC REIT obtains Sebi registration to launch SM-REIT public issue

Co-working firm EFC (I) Ltd on Wednesday said its arm EFC REIT Pvt Ltd has obtained SEBI registration for launch of Small & Medium Real Estate Investment Trust (SM-REIT) public issue. According to a statement, the company through its wholly-owned step-down subsidiary EFC REIT has obtained SEBI registration for EMBERSTONE SM REIT as an SM REIT. On October 29, 2024, SEBI granted registration to EMBERSTONE SM REIT. Accordingly, EMBERSTONE SM REIT will be eligible to make an initial offer for units of its first scheme for an amount of up to Rs 500 crore. As an investment manager of EMBERSTONE SM REIT, EFC REIT Pvt Ltd will oversee investments raised through the initial offer and manage the acquisition and operation of commercial real estate assets in terms of the REIT regulations. This development will significantly expand the EFC Group's Assets Under Management (AUM) and its managed office space portfolio across the country, positioning the company for accelerated growth. EFC's ...

NSE Clearing pays Rs 27 cr to settle interoperability violation with Sebi

NSE Clearing Corporation Ltd (NCL) has settled a case related to alleged non-compliance with the provisions of the interoperability agreement with markets regulator Sebi, following a payment of Rs 27.13 crore. This came after the applicant proposed to settle the case through a settlement order "without admitting or denying the findings of fact and conclusions of law". The Securities and Exchange Board of India (Sebi) conducted an examination to check whether NSE Clearing Corporation Ltd under the interoperability framework was ensuring compliance with the regulatory norms and the provisions of the Interoperability Agreement. Following the examination, a Show Cause Notice (SCN) was served to NCL in November 2023. The notice alleged that the applicant failed to maintain sufficient Inter Clearing Corporation (Inter-CCP) collateral from Indian Clearing Corporation Ltd (ICCL) and also allegedly failed to ensure compliance with provisions of the Inter-CCP agreement. After this, NCL filed

Eros case: Sebi fines 17 cos Rs 12 lakh each for not complying with summons

Markets regulator Sebi on Tuesday imposed penalties totalling Rs 2 crore on 17 entities for non-compliance with its investigation and failure to provide complete and timely information in the matter of Eros International Media Ltd. The regulator levied a fine of Rs 12 lakh each on the 17 entities and the amount needs to be paid within 45 days, according to Sebi's order. The matter revolves around alleged financial irregularities and mismanagement concerning agreements between Eros International Media Ltd. (EIML) and Spicy Entertainment & Media Ltd. (SEML), along with other related entities. The regulator sought detailed information regarding shareholders and directors of SEML since its incorporation; agreements and transactions between EIML and SEML, including ledgers, bank statements and tax filings, details of co-produced movies and reasons for incomplete or terminated projects and information on payments and refunds between the two companies. In its order, Sebi noted repeated ..

NTPC share gains 3% as Sebi okays NTPC Green Energy's Rs 10,000-cr IPO

The rise in NTPC share price came after the market regulator Securities and Exchnage Board of India (Sebi) approved NTPC Green Energy's initial public offering (IPO)

Sebi proposes allowing shared contact details for non-individual clients

To enhance ease of compliance, Sebi on Monday proposed broadening its guidelines on shared contact details by allowing non-individual clients, such as HUFs, partnerships, trusts, and corporates, to use the same mobile number or email address under exceptional circumstances. Currently, this exception applies only to individual clients within a family. "Under exceptional circumstances, the stock broker may, at the specific written request of a client, upload the same mobile number/email address for more than one client provided such client belong to one family (in case of individual clients) or such client is the authorised person of an HUF, Corporate, Partnership or Trust (in case of non-individual clients)," Sebi said in its consultation paper. Under the current rule, stock brokers are required to upload certain details of their clients, including a separate mobile number and email address for each client. However, under exceptional circumstances, the stock broker may upload the sa

Institutional collapse given way to dangerous cronyism: Rahul on Sebi chief

Stepping up his attack over conflicts of interest allegations against SEBI chief Madhabi Buch, Congress leader Rahul Gandhi on Monday said the current regime is no longer merely encouraging monopolies but actively concentrating the nation's wealth in the hands of a few. Gandhi, the Leader of Opposition in the Lok Sabha, made the remarks in his post along with a video featuring him and Congress' media and publicity department head Pawan Khera in which they talk about the alleged conflicts of interest of SEBI chief Buch. "Institutional collapse has now given way to a more dangerous form of cronyism -- Adani Bachao. The current regime is no longer merely encouraging monopolies, it's actively concentrating the nation's wealth in the hands of a few," Gandhi said. The Madhabi Buch scandal goes deeper than initially imagined, he said, adding that it may be that Buch, entrusted with safeguarding retail investors, has been manipulating the system to protect Adani's interests and his inflated

ACME Solar Holdings IPO: Key Highlights, financials, risks revealed in DRHP

As investors await further details from ACME Solar Holdings, here are the key takeaways from the Draft Red Herring Prospectus (DRHP) that the company submitted to the market regulator

Who is saving Sebi chief, asks Cong; Rahul flags market risks to investors

The Congress on Saturday intensified its offensive against SEBI chief Madhabi Puri Buch, asking what was keeping her from appearing before a parliamentary panel. Shortly after Congress leader Rahul Gandhi, in an Instagram video, flagged "risks to billions of retail investors in the stock market", the party posed three questions on Buch, who skipped a recent appearance before the Public Accounts Committee by citing a last-minute emergency. "Why is Madhabi Buch reluctant to answer questions before the Public Accounts Committee (PAC) of Parliament? Who is behind the plan to protect her from being answerable to the PAC? Is there a well-thought-out conspiracy to risk the hard-earned investments of crores of small-medium investors and benefit Modi ji's dear friend Adani?" the Congress' media department chairman Pawan Khera asked in a statement. Gandhi earlier posted a video on Instagram in which he is heard speaking to Khera on the phone and urging him to devise innovative ways of ...

Sebi issues notice to Axis Bank about stake buy in Max Life Insurance

Capital market regulator Securities and Exchange Board of India has issued a show cause notice (SCN) to Axis Bank and its subsidiaries in a case related to stake buy in Max Life Insurance. In a regulatory filing, Axis Bank said the SCN was issued on October 25 through email. Axis Bank, and its subsidiaries, Axis Securities Limited and Axis Capital Limited, have received an SCN through email from the Sebi, it said. The SCN is being reviewed and will be filing responses to the SCN with Sebi as the said transactions were undertaken with requisite regulatory approvals, it said. Meanwhile, Max Financial Services Limited, the holding company of Max Life Insurance also said a few directors and a few key managerial personnel of the company (in each case, 'both past and present) have received a SCN through email from Sebi. Earlier this year, the Axis Bank's board of directors approved the proposal to acquire Max Life shares, raising Axis entities' total holding in the insurance firm to 19.

Cong intensifies attack on Sebi chief Buch, flags stock market risks

The Congress on Saturday intensified its offensive against SEBI chief Madhabi Puri Buch, asking what was keeping her from appearing before a parliamentary panel. Shortly after Congress leader Rahul Gandhi, in an Instagram video, flagged "risks to billions of retail investors in the stock market", the party posed three questions on Puri, who skipped a recent appearance before the Public Accounts Committee by citing a last-minute emergency. "Why is Madhabi Buch reluctant to answer questions before the Public Accounts Committee (PAC) of Parliament? Who is behind the plan to protect her from being answerable to the PAC? Is there a well-thought-out conspiracy to risk the hard-earned investments of crores of small-medium investors and benefit Modi ji's dear friend Adani?" the Congress' media department chairman Pawan Khera asked in a statement. Gandhi earlier posted a video of Instagram in which he is heard speaking to Khera on the phone and urging him to devise innovative ways of ...

Sebi to auction 7 properties worth Rs 15.47 cr of Bishal Group on Dec 10

Capital markets regulator Sebi has said that it will auction seven properties belonging to Bishal Group of Companies on December 10 to recover money illegally collected by the entity from investors. The properties will be auctioned at a reserve price of a little over Rs 15.47 crore, according to a public notice issued by the Securities and Exchange Board of India. These properties are flats, land and buildings, land parcels, and plots located in West Bengal. Sebi has invited bids for the sale of properties in the recovery proceedings against Bishal Abasan India Ltd, Bishal Distillers Ltd, Bishal Agri-Bio Industries Ltd, Bishal Horticulture and Animal Projects Ltd and their promoters/directors (collectively referred to as Bishal Group). The regulator said the auction will be conducted on December 10 from 11 am to 1 pm. Adroit Technical Services has been appointed by the markets watchdog to assist it in the sale of properties. The regulator has asked the bidders to make their own .

Sebi imposes Rs 16L fine on Edelweiss AMC, 2 officials for rule violation

Capital markets regulator Sebi on Friday imposed penalties totalling Rs 16 lakh on Edelweiss Asset Management Ltd, its CEO Radhika Gupta and fund manager Trideep Bhattacharya for violating mutual fund rules. Individually, penalty of Rs 8 lakh was levied on Edelweiss Asset Management and Rs 4 lakh each on Gupta and Bhattacharya, according to an order passed by Sebi. Also, they have been directed to pay the amount within 45 days. While undertaking an industry wide analysis of whether focused funds are true-to-label or not, Sebi noted that Edelweiss Focused Equity Fund (EFEF) had violated the provision 'an open ended equity scheme investing in maximum30 stocks' on 88 days. The deviations from mandatory asset allocation were observed for the months of November 2022, December 2022, January 2023 and February 2023. In its order, Sebi said, "noticee No. 1 (Edelweiss Asset Management) had failed to ensure that the asset management company took all reasonable steps and exercised due dilig

Sebi comes out with reporting format for research analysts, proxy advisers

Markets regulator Sebi on Friday came out with a standardised format for periodic reporting for research analysts (RAs) and proxy advisers (PAs). The regulator has recognised the Research Analyst Administration and Supervisory Body (RAASB) for the administration and supervision of RAs under the RA Regulations. As the Proxy Advisers (PAs) are registered under the RA norms, they will also come under the purview of RAASB. In its circular, Sebi said that RAs will submit their periodic report to RAASB, and PAs will submit their periodic reports to Sebi. The periodic reports will be submitted by RAs/PAs within 30 days from the last date of the reporting period. Further, RAs/PAs are required to submit periodic reports for half-yearly periods ending on September 30 and March 31 of every financial year. The first reporting period will be a half-yearly period ending on March 31, 2025, and reports thereof will be required to be submitted by April 30, 2025. Hence, a time of around six months h

National Stock Exchange's IPO hinges on approval from Sebi, says CEO

The National Stock Exchange of India Ltd., whose initial public offering has faced delays since it initial filing in 2016, needs approval from the Sebi to reapply

Why is Buch reluctant to face Parliamentary panel's questions, asks Rahul

After SEBI chairperson Madhabi Puri Buch skipped appearing before the Public Accounts Committee of Parliament on Thursday, Congress leader Rahul Gandhi wondered why is she reluctant to face questions from the panel. In a post on X, Gandhi also asked who is behind the "plan" to protect her from being answerable to the panel. "Why is Madhabi Buch reluctant to answer questions before the Public Accounts Committee (PAC) of Parliament? "Who is behind the plan to protect her from being answerable to the PAC?" the Congress leader asked. Congress president Mallikarjun Kharge accused the BJP-led Centre of using the SEBI chairperson as a "shield to hide its misdeeds" and said Buch would have to answer questions before the PAC, which is a constitutional body. "The PAC of Parliament has the constitutional right to summon any officer in connection with any government investigation. "To safeguard the autonomy of the SEBI, to maintain the impartiality of the institution and to ensure accountabi

Madhabi Puri Buch skips PAC meet, Cabinet approves 2 railway projects & Cyclone Dana

Research report of analysts not an ad unless related to promotion: Sebi

Markets regulator Sebi on Thursday clarified that research reports and recommendations of research analysts (RAs) are not considered advertisements unless anything contained in such reports is in the nature of promotion of products or services offered by them. This came after the Securities and Exchange Board of India (Sebi) received certain queries concerning the applicability of provisions of advertisement code on a research report issued by an RA. In its circular, Sebi said that the forms of communications, to which the advertisement code shall be applicable include pamphlets, circulars, brochures, notices or any other literature, document, information or material published, or designed for use in any publication or displays (such as newspaper, magazine, sign boards/hoardings at any location), in any electronic, wired or wireless communication or over any other audio-visual form of communication (such as television, tape recordings, motion pictures) or in any other manner ...

Sebi Chair Madhabi Puri Buch's meeting with Parliament committee postponed

Madhabi Puri Buch and three to four senior Sebi officials are likely to be questioned by Parliament's Public Accounts Committee

Sebi bars First Overseas Capital to be lead manager for fresh mandates

Sebi on Wednesday barred First Overseas Capital from taking any new mandate as a lead manager for any public issue of debt securities until further orders for allegedly violating merchant bankers rules. The regulator also issued a show cause notice to First Overseas Capital for alleged violations of the provision of Merchant Bankers (MB) regulations. "I, hereby debar the noticee (FOCL) from taking any new mandate in relation to the business of issue management either by making arrangements regarding selling, buying or subscribing to securities or acting as manager, consultant, adviser or rendering corporate advisory service in relation to such issue management, until further order," Sebi's whole time member Ashwani Bhatia said in the order. In its 33-page interim order cum show cause notice, Sebi said FOCL acted as a registered merchant banker without meeting the capital adequacy requirement (net worth of Rs 5 crore), as mandated under the provisions of the MB norms. Further, the .

Meeting of Parl PAC to be held tomorrow, Sebi chief to appear: Report

The meeting will be held in Delhi on Thursday at 11 am. The PAC is headed by K C Venugopal of the Congress