Page 6 - Sebi

Rahul Gandhi demands immediate arrest of Adani, probe against Sebi chief

Leader of Opposition Rahul Gandhi on Thursday demanded immediate arrest of industrialist Gautam Adani after the billionaire industrialist was charges in the US for alleged bribery and fraud. Addressing a press conference here hours after the US prosecutors charged Adani and associates for allegedly paying USD 250 million bribe to Indian officials, the Congress leader said it is now pretty clear and established in the US that the businessman has broken Indian as well as American laws. The Adani group has not yet reacted to the charges. Taking a jibe at Prime Minister Narendra Modi's 'Ek hain to safe hain' slogan, Gandhi said that as long as the prime minister and Adani are together, they are safe in India. He said Adani should be arrested immediately and interrogated, and his "protector" and Sebi chairperson Madhabi Puri Buch should be removed from her post probed. Gandhi further said he will raise the issue during the Winter session of Parliament beginning Monday. He also said th

Legal experts see no knee-jerk response from Sebi on US indictment of Adani

Indian market regulator has taken stringent measures when it comes to misstatements and non-disclosures in the domestic market, say lawyers

Sebi abolishes 1% mandatory security deposit requirements in public issues

Markets regulator Sebi on Thursday abolished the requirement of a mandatory security deposit with the exchanges before a public issue in a bid to facilitate ease of doing business for issuer companies. The move will be applicable with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. Before this, any company that is looking to launch a public issue of equity shares has to deposit with the stock exchanges an amount equal to 1 per cent of the issue size. The deposit was returned to the company after the public issue. "In order to facilitate ease of doing business to issuer company, the requirement to deposit 1 per cent of the issue size available for subscription to the public with the designated stock exchange by the issuer company under... Sebi (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations) has been dispensed with," Sebi said. In February, the Securities and Exchange Board of India (Sebi) floated a consultat

What is the US SEC and its Indian counterpart Sebi in market regulation?

The US Securities and Exchange Commission ensures market transparency and investor protection. India's Securities and Exchange Board of India plays a similar role of regulating the financial markets

Market Today: F&O rules, Adani Group stocks, NTPC Green IPO, Zinka listing

Investors will closely watch the implementation of new F&O rules, the NTPC Green Energy IPO, coupled with the Maharashtra Assembly election developments and Nifty50 expiry

Best of BS Opinion: Expanding regulation, Rio realities, towards US+1 world

Here is the best of Business Standard's opinion pieces for today

CIEL HR Services files draft IPO with Sebi, aims for Rs 335 cr via issue

CIEL HR Services Ltd, which provides technology-driven human resources solutions, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The proposed IPO is a combination of fresh issue of equity shares worth Rs 335 crore and an offer for sale (OFS) of 47.4 lakh shares by promoters and other selling shareholders, according to the draft red herring prospectus (DRHP) filed on Tuesday. At present, promoters and promoter group entities hold 87 per cent stake in the company. Besides, the company may consider raising Rs 67 crore through a pre-IPO placement. If this is carried out, the fresh issue size will be reduced. Proceeds from the fresh issue will be used for acquisition of additional shareholding in subsidiaries -- Firstventure Corporation, Integrum Technologies, Next Leap Career Solutions, People Metrics and Thomas Assessments -- funding incremental working capital requirements of the company, unidentified inorgani

SME IPOs: Market regulator Sebi proposes 2x hike in application size

Suggests higher entry amount, stringent norms for corporate governance

Sebi proposes tighter IPO rules for SMEs, seeks views on minimum amount

The regulator also sought views on whether the minimum application amount should be even higher at Rs 4,00,000

CAD is manageable as India is doing well in services exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said that India's current account deficit (CAD) is manageable as it is doing well in services exports. He said that the import numbers of the country are correlated with exports as much of the imported goods are shipped back after value addition. "Our services exports are significant. It is an increasingly growing surplus. So if I have a trade deficit of USD 250-300 billion, almost USD 175-200 billion get made up by services exports. So the net CAD is still in the one per cent of GDP category, which I do not think is a matter of serious enough to be concerned about," he said at an event here. The country's CAD widened marginally to USD 9.7 billion or 1.1 per cent of the GDP in April-June 2024 against USD 8.9 billion or 1 per cent in the year-ago period. A current account deficit occurs when the value of goods and services imported and other payments exceed the value of the export of goods and services and other receipts by a ..

Saatvik Green Energy files draft papers with Sebi for Rs 1,150 cr IPO

Solar panel maker Saatvik Green Energy has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,150 crore through an initial public offering (IPO). The Haryana-based company's proposed IPO is a combination of a fresh issue of shares worth Rs 850 crore and an offer for sale (OFS) of Rs 300 crore by promoters -- Parmod Kumar and Sunila Garg, according to the draft red herring prospectus (DRHP) filed on Monday. At present, promoters hold over 90 per cent stake in the company. Proceeds from the fresh issue to the tune of Rs 553 crore will be used for setting up a 4 GW solar PV module manufacturing facility in Odisha, Rs 96 crore for investment in its subsidiary Saatvik Solar Industries in the form of debt or equity for payment of borrowings, Rs 12.3 crore will be used to pay the company's debt and a portion will be used for general corporate purposes. As of June 2024, the company's total borrowing stood at Rs 256 crore. Saatvik Green Energy is a solar photovolta

Govt planning to sell stakes in 4 state-run banks to comply with Sebi norms

The Securities and Exchange Board of India (SEBI) requires listed companies to maintain a 25 per cent public shareholding, but has exempted government-owned firms from meeting these norms till August

Sebi orders altGraaf and two other platforms to cease operations

Order involves four entities, including two related to altGraaf; action after probe revealed they lack safeguards for investors

Sebi asks CRAs to verify issuer's funds availability on non-payment of debt

Markets regulator Sebi on Monday directed Credit Rating Agencies (CRAs) to verify the issuer's fund availability and ascertain the reasons for payment failure in cases where non-payment of debt arises due to factors beyond the issuer's control. Also, CRAs have to ensure that the required payments are deposited into an escrow account on the due date in these cases. These additional guidelines have been introduced to address scenarios of non-payment of debt (principal or interest) caused by factors beyond the issuer's control. These factors include issues such as incorrect investor account details, outdated payment information, or government-mandated account freezes. "It has been decided that in the aforesaid scenario, the CRA shall confirm and verify the availability of adequate funds with the issuer and also confirm and verify the proof of failure of the required payment of debt (principal and/ or interest) and the reasons for failure," Sebi said in its circular. Additionally, CRA

Emerging India Focus Funds settles FPI norms violation case with Sebi

According to Sebi's settlement order, there were several alleged violations of the FPI regulations and intermediary regulations

Emerging India Focus Funds pays Rs 64.35 lakh to settle case with Sebi

Emerging India Focus Funds on Monday settled a case concerning the alleged violations of Foreign Portfolio Investor (FPI) rules with markets regulator Sebi on payment of Rs 64.35 lakh towards settlement charges. This came after the applicant filed an application with Sebi proposing to settle the proceedings initiated against it, "without admitting or denying the findings of facts and conclusions of law" through a settlement order. The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the applicant and issued a showcause notice in February for the alleged violations of FPI Regulations and Intermediaries Regulations. Pending adjudication proceedings, Emerging India Focus Funds filed an application with Sebi and shelled out Rs 64.35 lakh on November 13 to settle the alleged violations. "In view of the acceptance of the settlement terms and the receipt of settlement amount ...by Sebi, the instant adjudication proceedings initiated against applican

Choose fixed-fee RIAs to avoid high costs, improve value for money

One reason why the fee can't be lower than 3 per cent is that it is difficult for an RIA to do a good job and remain viable even at this level

Angel funds see red in Sebi's new accredited investors-only proposal

Total accredited investor count stood at just 200 at the end of 2023

Sebi slaps Rs 26 cr notice on Reliance Big Entertainment in RHFL fund case

Capital markets regulator Sebi has asked Reliance Big Entertainment to pay Rs 26 crore in fines for failing to clear penalties imposed by the regulator in a case pertaining to illegal diversion of funds. The regulator also warned that assets, including bank accounts, of Reliance Big Entertainment Pvt Ltd (now known as Rbep Entertainment Pvt Ltd) will be attached if they fail to make the payment within 15 days of the notice issued on Thursday. The notice was issued after the entity (Reliance Big Entertainment) failed to pay the Rs 25 crore fine imposed by the regulator in August this year. In the demand notice, Sebi directed the entity to pay Rs 26 crore, including interest and recovery costs within 15 days. In August this year, the markets watchdog barred industrialist Anil Ambani and 24 others from the securities market for five years on charges of diversion of funds from RHFL. Additionally, Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from serving as a

Buch scandal not just insider trading, it is conflict of interest: Rahul

Stepping up his attack on SEBI Chairperson Madhabi Puri Buch, Leader of Opposition in the Lok Sabha Rahul Gandhi on Friday alleged that India's economic framework is being hollowed out from within by a "cartel of corporate giants", enabled by those meant to guard the country's interests. The former Congress chief said "the Madhubi Buch scandal" isn't just insider trading but is a revealing case of direct conflict of interest, where powerful regulators are entangled with the very corporations they're supposed to oversee. Gandhi made the remarks in his post that accompanied a YouTube video, part of a series featuring him and Congress' media and publicity head Pawan Khera, in which the two leaders discuss various conflicts of interest allegations against Buch. There was no immediate reaction from Buch, who is facing conflict of interest allegations, on the video and the charges. However, previously the SEBI chief has dismissed allegations of any wrongdoing. In his post Gandhi said, .