Page 4 - Sebi

Sebi issues rules for uniform nomination standards in securities markets

Markets regulator Sebi has notified rules on nomination allowing nominees to act on behalf of incapacitated investors. Additionally, it notified the rule mandating every participant to provide beneficial owners with the option to nominate a person to whom their securities will transfer upon their death. "Every participant shall provide an option to the beneficial owner to nominate, in the manner as may be specified, a person who shall be authorised to conduct transactions on behalf of the beneficial owner in the event of the incapacitation of the beneficial owner," Sebi said in a notification. The new rules are aimed at enhancing investor convenience and introducing uniform standards for nomination facilities across the Indian securities market. In the case of joint ownership, the owners can collectively nominate a person to receive the securities in the event of death of all the joint beneficial owners. Further, the depository and participant will not be held liable for any actio

Specified digital platforms not obligated to register, clarifies Sebi

Says the association of regulated entities with SDPs will assure that they are in compliance of Sebi's regulations

Axis Securities settles front-running case with Sebi; pays Rs 14.62 lakh

Axis Securities on Wednesday settled a case, involving front-running trades by its former employee Vikrant Bhimrao Kadam and his friend, with markets regulator Sebi after paying Rs 14.62 lakh towards settlement amount. It was alleged that as a stock broker, Axis Securities failed to exercise appropriate due diligence in the matter in its dealer and branch manager compliance policy. The order came after Axis Securities filed an application with Securities and Exchange Board of India (Sebi) proposing to settle the violation of broker regulations "without admitting or denying the findings of fact and conclusions of law". In its settlement order, Sebi said the broker remitted the settlement amount of Rs 14.62 lakh and consequently the instant "proceeding initiated against the applicant (Axis Securities) vide show cause notice dated June 4, 2024 is disposed of". In a statement, Sebi clarified that the alleged frontrunner Mandar Ulhas Bhatkar has not been an employee of or associated wit

Brickwork Ratings settles matter with mkt regulator Sebi for Rs 1.54 crore

In January 2020, Sebi and the Reserve Bank of India had undertaken a joint inspection of Brickwork, where the two regulators found "several irregularities"

Cong accuses coverup, urges Sebi to take strict action on Adani group

The Congress Wednesday said a "cover-up" is in the making after reports claimed entities connected to the Adani Group have approached the SEBI seeking settlement in a case that alleges violations of public shareholding norms through unfair practices. It asserted the "scam" requires serious punitive action, including arrests and raids by investigative agencies. Congress general secretary in-charge communications Jairam Ramesh said a token settlement would make Indian institutions a laughing stock whose reputation has already been tarnished by the actions of Prime Minister Narendra Modi and "his cronies". His remarks come amid reports that several entities connected to Adani Group have approached the Securities and Exchange Board of India (SEBI) seeking settlement in a case that alleges violations of public shareholding norms through unfair practices at four listed companies of the infrastructure conglomerate. "A cover-up is in the making. Reports that opaque offshore entities and ..

'Overreach': USISPF, Nasscom on Sebi's specified digital platform plan

The proposal followed SEBI's mandate restricting the association of registered entities in the securities market with those who are unregistered or not covered under the ambit of the market regulator

Sebi revises guidelines on mobile and e-mail alerts for investors

Capital markets regulator Sebi on Tuesday revised its guidelines on the use of shared mobile numbers and e-mail addresses by stock brokers for investor alerts with an aim to enhance operational convenience. The updated rules, effective immediately, aim to strike a balance between regulatory compliance and operational flexibility for brokers. Under the revised framework, Sebi said, the stock brokers can upload a common mobile number or e-mail address for multiple clients under certain conditions. The exception applies to clients belonging to the same family, defined as self, spouse, dependent children, and parents, or for specific non-individual clients such as Hindu Undivide Family (HUF), corporates, partnerships, or trusts. In the case of non-individual clients, the shared contact details can only be uploaded if the client is an authorised person. For example, a Karta in HUFs, a partner in a partnership firm, a trustee or beneficiary in a trust, or a corporate board-authorised ...

Quant Mutual Fund to get new CEO as it strengthens leadership team

However, the fund house has not revealed the name. The new CEO will likely take charge by April 2025, according to the company

Sebi proposes online monitoring of stock brokers' system audit by exchanges

Exchanges will have to ensure that auditors conduct physical visits to the premises of the stock broker. Further, they will have to develop a web portal to monitor and supervise the process

Adani-linked firms file settlement bids in Sebi's public shareholding probe

Adani-linked individuals, including Vinay Prakash, a director at Adani Enterprises, and Ameet Desai, a director at Ambuja Cements, have each offered Rs 3 lakh to settle the case

Sebi cracks down on finfluencers; 'Baap of Charts' among seven banned

Intensifying its crackdown on finfluencers, markets regulator Sebi on Monday restrained seven entities, including Mohd Nasiruddin Ansari, who ran unauthorised investment advisory services in the name of 'Baap of Chart', for up to one year. The regulator also directed the entities -- Nasiruddin Ansari, Rahul Rao Padamati, Tabraiz Abdullah, Asif Iqbal Wani, Golden Syndicate Ventures Pvt Ltd (GSVPL), Mansha Abdullah and Jadav Vamshi -- to refund Rs 17.2 crore within three months. Ansari runs a profile on social media platform X (formerly Twitter) by the name of 'Baap of Chart' where he used to offer buy/sell recommendations in the stock market. The recommendations were given in the garb of providing educational training related to the securities market, according to Sebi. Additionally, the regulator slapped a penalty of Rs 20 lakh on Ansari, Rs 2 lakh each on Padamati, Tabraiz Abdullah, Wani, GSVPL, Mansha Abdullah, and Vamshi. "In my view, unregistered investment advisors like Nasir

Sebi nod to seven public offers paves way for over Rs 12K crore fundraise

All seven issues, which received the nod last week, are a combination of fresh issue and offer for sale

AIFs seek tax passthrough to compete with emerging 'new asset class'

Plan to make representation to finance ministry, Sebi for level playing field

Sebi issues notice for attachment of bank accounts of Rbep Entertainment

In its order, Sebi directed the attachment of all accounts, lockers, and proceeds due, along with freezing any debits from the accounts

Torrent Power opens equities on QIP basis at Rs 1,555.75 apiece floor price

Torrent Power on Monday announced the opening of equities on qualified institutional placement (QIP) basis at a floor price of Rs 1,555.75 apiece as part of its plan to raise up to Rs 5,000 crore in one or more tranches. The company did neither disclosed the number of shares to be issued nor the total issue size. However, there are speculations that the issue size is expected to range between Rs 3,500 crore and Rs 5,000 crore. The fund raising committee of the board, at its meeting held on December 2 has, inter alia, considered and approved authorising the opening of the issue today, Torrent Power said in a stock exchange filing. According to the company, the committee also approved the floor price for the issue at Rs 1,555.75 per equity share, based on the pricing formula prescribed by capital market regulator SEBI. In July this year, shareholders of the company had approved the proposal to raise up to Rs 5,000 crore through the issuance of equity shares and/or foreign currency .

Sebi orders bank, demat accounts' attachment of Reliance Big Entertainment

Capital markets regulator Sebi on Monday ordered the attachment of bank accounts as well as shares and mutual fund holdings of Reliance Big Entertainment to recover dues of Rs 26 crore. Before this, the markets watchdog on November 14 sent a notice to Reliance Big Entertainment Pvt Ltd (now known as Rbep Entertainment Pvt Ltd) and asked the entity to pay dues within 15 days in a case pertaining to illegal diversion of funds in the matter of Reliance Home Finance Ltd (RHFL). The attachment notice came after Reliance Big Entertainment failed to pay the fine imposed on it by the markets watchdog. The Securities and Exchange Board of India (Sebi) has ordered the attachment of bank, demat accounts and mutual fund folios of the entity to recover the pending dues. Going by the notice, dues of Rs 26 crore were pending with Reliance Big Entertainment, which included interest and recovery costs. As per the notice, Sebi said there is sufficient reason to believe that the defaulter may dispos

NSDL gets Vijay Chandok, financial market veteran as its new MD and CEO

The National Securities Depository Ltd (NSDL) on Friday said Vijay Chandok, a financial market veteran, has joined as its managing director and chief executive officer. Prior to joining NSDL, Chandok served as the MD and CEO of ICICI Securities. He held pivotal roles at the ICICI Group, including on the board of ICICI Bank as an executive director. A seasoned banker and a financial market veteran with over three decades of experience, Chandok brings a wealth of expertise in the BFSI sector, NSDL said in a statement. NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996. It is India's first securities depository to reach Rs 500 lakh crore (USD 6 trillion) in value of assets held in custody in September 2024. In October, NSDL received Sebi's go-ah

Markets Today: GDP; Sensex, Bankex new expiry day; Enviro Infra IPO listing

Thursday's session proved challenging for domestic markets, with benchmarks plunging sharply on the monthly F&O expiry. Sensex crashed 1,190 pts to 79,043.74, while Nifty slid 360.75 pts to 23,914.15

K Raheja Investment pays Rs 68.73 lakh to settle Reit norms case with Sebi

K Raheja Investment Managers on Thursday settled with capital markets regulator Sebi a case on alleged violation of REIT rules by paying Rs 68.73 lakh towards settlement fee in the matter of Mindspace Business Parks REIT. K Raheja Investment Managers LLP (now known as K Raheja Corp Investment Managers Pvt Ltd) is the manager of Mindspace Business Parks REIT. Mindspace Business Parks REIT, sponsored by K Raheja Corp group, was listed on the Indian bourses in August 2020. It owns office portfolios in the Mumbai Region, Pune, Hyderabad, and Chennai. The settlement order came after the noticee (K Raheja Investment Managers LLP) proposed to settle the instant proceedings initiated against it, without "admitting or denying the findings of facts and conclusions of law". The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against K Raheja Investment Managers LLP for the alleged violation of the provisions of Sebi's REIT (Real Estate Investment Trusts) rules

C2C Advanced Systems IPO sees 80% of individual investors withdraw bids

The SME IPO had received a good response, seeing 100 times more demand than shares on offer