SEBI DEMAND NOTICE
Investors high on SME IPOs with up to 1,300% returns. Is it time to get sober?
Investors high on SME IPOs with up to 1,300% returns. Marquee investors, top performers like Owais Metal & Mineral Processing, and risks of market manipulation highlighted. Emphasis on due diligence and investor awareness.
Deepak Shenoy wants to buy LIC & BSE on further fall. Here’s why
Deepak Shenoy highlights market volatility driven by global dynamics and regulatory issues. He discusses the potential impacts of RBI norms on power financiers and analyzes Kotak Bank's income challenges post-RBI ban, emphasizing the importance of cautious optimism amidst uncertainties.
SEBI show cause notices 'illustrate hollowness' of claim of 'clean chit' to Adani Group: Congress
The Congress criticized the Adani Group and the BJP, claiming that show cause notices from SEBI to seven Adani Group firms contradict the notion that the Supreme Court expert committee gave the group a "clean chit". The notices, alleging violations in related-party transactions and listing regulations, were disclosed in regulatory filings. Congress General Secretary Jairam Ramesh highlighted auditors' "qualified opinions" on questionable transactions and SEBI's investigations into 13 suspicious transactions.
Domestic startups come under income tax glare for their recent funding
Notices sent a few weeks ago to multiple startups by the I-T department asking for genuineness, credit worthiness of their investors. Post the notices were served, some startups have been asked to cough up taxes and penalties, if their submissions haven’t been adequate. The tax demands have been arrived at by clubbing the funding with the startup’s income.
Delhi HC seeks reply from RBI, SEBI on unlawful lending practices carried by Paisalo Digital
The Delhi High Court has sought responses from the RBI and SEBI regarding unethical lending practices by Paisalo Digital. Mukesh Arya's plea alleges violation of RBI's Master Circulars and seeks an independent inquiry and audits. Santanu Agarwal clarifies the company's stance on the matter.
Sebi orders attachment of bank, demat accounts of DHFL's ex-promoters in disclosure violation case
Markets regulator Sebi has ordered the attachment of bank accounts as well as shares and mutual fund holdings of Dheeraj Wadhawan and Kapil Wadhawan, the former promoters of Dewan Housing Finance Corp Ltd (DHFL), to recover dues totalling over Rs 22 lakh.
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Sebi issues demand notices to DHFL's former promoters in disclosure rule violation case
Capital markets regulator Sebi on Thursday sent demand notices to Dheeraj Wadhawan and Kapil Wadhawan, the former promoters of Dewan Housing Finance Corp Ltd (DHFL), asking them to pay Rs 10.6 lakh each in a case concerning flouting of disclosure norms.
Sebi board likely to discuss regulation of realty platforms, 'delisting' changes
The intention to bring in rules for investment platforms offering fractional ownership of real estate assets comes in the wake of growing demand for such products in recent times.
Sebi orders defreezing of bank, demat accounts, MF folios of Rana Kapoor
The markets regulator, in July, sent a notice to Kapoor asking him to pay Rs 2.22 crore in a case of misselling the private sector lender's Additional Tier-1 (AT1) bonds and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days.
SAT stays Sebi's order on Yes Bank's former MD Rana Kapoor
The interim relief came after capital markets regulator Sebi in July issued a demand notice to Kapoor, warning arrest and attachment of his assets over non-payment of the fine of Rs 2 crore, along with the interest.
Sebi issues Rs 2.2 cr demand notice to Yes Bank's former MD Rana Kapoor
The case relates to mis-selling of the bank's AT1 (Additional Tier-1) bonds to retail investors by the bank's officials. It was alleged that the bank and certain officials did not inform investors of the risk involved while selling the AT-1 bonds in the secondary market. The sale of AT1 bonds started in 2016 and continued till 2019
Sebi issues Rs 6-cr demand notices to 11 in Religare Finvest case
The 11 entities that received notices are - Torus Buildcon, Artifice Properties, Rosestar Marketing, Oscar Investments, Ad Advertising, Zolton Properties, Saubhagya Buildcon, Star Artworks, Vitoba Realtors, Devera Developers and Harpal Singh.
Sebi issues demand notices to 7 entities in Religare Enterprises case
The seven entities that received notices are -- Torus Buildcon, Artifice Properties, Rosestar Marketing, Oscar Investments, Ad Advertising, Zolton Properties, and Saubhagya Buildcon.
Sebi issues demand notices to 5 entities in Fortis Healthcare fund diversion case
Five entities, including Saubhagya Buildcon and Zolton Properties, have been issued notices by the Securities and Exchange Board of India (Sebi), asking them to pay Rs 5.7 crore ($755,000) in funds relating to Fortis Healthcare's case of fraud. The five entities received demand notices as they failed to pay the fine imposed by the regulator in May 2020 regarding the alleged diversion of funds and misrepresentations made to conceal it.
Sebi attaches bank, demat, MF accounts of Mehul Choksi to recover dues
Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues of Rs 5.35 crore for indulging in fraudulent trading in the shares of Gitanjali Gems. Choksi is the maternal uncle of Nirav Modi, and both of them are facing charges of defrauding Punjab National Bank of over Rs 14,000 crore. To recover dues, Sebi has asked all banks, depositories, and mutual funds not to allow any debit from Choksi's accounts, including lockers, and attach all accounts held by the defaulter.
Sebi issues Rs 5.35-cr demand notice to Mehul Choksi
Sebi has sent a notice to fugitive businessman Mehul Choksi asking him to pay Rs 5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems Ltd. If Choksi fails to make the payment within 15 days, Sebi will recover the amount by attaching and selling his moveable and immoveable property, as well as his bank accounts.
Sebi issues notices to PTC India financial arm
PTC India and its financial services unit, PTC India Financial Services (PFS), have been given 21 days by India's market regulator, the Securities and Exchange Board of India, to respond to legal notices issued to them regarding alleged corporate governance lapses. Investigations by the regulator reportedly unveiled preliminary evidence of governance and listing norm violations. The regulator's investigation resulted from allegations levelled by three independent directors of PTC India Financial Services in January.
Sebi issues notices to PTC India financial arm citing governance lapses
Indian market regulator SEBI has issued legal notices to government-owned companies PTC India and PTC India Financial Services, demanding explanations on alleged corporate governance lapses. The two firms have been given 21 days to respond to the show cause notice that requires them to explain why action should not be taken against them. SEBI had found preliminary evidence of alleged violations of governance and listing norms. Following the response from the firms, the market regulator will pass a final order that could include monetary penalties or a ban from the capital markets.
Sebi issues Rs 6.48-cr demand notice to Sahara Group firm, others in OFCD issuance case
The case relates to issuance of OFCDs by Sahara India Real Estate Corporation and Sahara Housing Investment Corporation during 2008-2009. They raised money through public issue of securities by issuing OFCDs without following the various procedures intended to protect the interest of the investors, in respect of public issues, prescribed under the norms, as per Sebi.
Sebi issues Rs 48.15 cr demand notice to Singh brothers, 5 others in Religare Finvest fund diversion case
The diversion of funds was never disclosed to the shareholders of REL, which misled them to remain invested in the shares of REL or deal in the securities of REL. Thus, the apparent diversion of funds led to indirect manipulation of the price of shares of REL, Sebi said in its order.
Sebi proposes online modes to better resolve complaints
Sebi said the current processes administered by MIIs should be modified such that it gets extended to all investor grievances against securities market intermediaries. "This will make the grievance redressal process more simplified, streamlined and efficient for the investors," Sebi said in a discussion paper.
Old VC funds under Sebi scanner; Slice secures PPI licence from RBI
Industry insiders feel Sebi may pull up funds that have breached the end date or taken repeated extensions, probably to fish for better deals and to avoid distress sales.
Sebi issues Rs 14-cr demand notice to Jindal Cotex in GDR manipulation case
In the event of non-payment, it will recover the amount by attaching and selling the movable and immovable properties of the firm.
Jindal Poly group company terms demand for forensic audit malicious
The shareholders have questioned why Universus Photo did not subscribe to two rights issues of JPF Netherlands, a company in which it once owned a stake as high as 47%, which is now reduced to under 40%.
Sebi issues demand notices to BSE, NSE in Karvy case
In an order on April 12, Sebi had slapped a penalty of Rs 3 crore on BSE and Rs 2 crore on NSE for "laxity" on their part in detecting misuse of clients' securities by KSBL.
Sebi issues demand notice to Chitra Ramkrishna
Apart from penalising Ramkrishna, Sebi had imposed a penalty on Ravi Narain, who was the predecessor of Ramkrishna, and Subramanian and others.In its fresh notice, Sebi directed Ramkrishna to pay Rs 3.12 crore, which includes interest and recovery cost, within 15 days.
Sebi demand notice to Anand Subramanian
The regulator has asked subramanian to pay this amount within 15 days. In the event of non- payment of the dues, Sebi said it would recover the money by different modes such as attachment and sale of Subramanian's movable or immovable property, attachment of bank account and arrest. It may even appoint a receiver for management of his properties.
Finance ministry mulls time limit on Sebi show-cause notices
The finance ministry is considering a proposal to fix a time limit for show-cause notices by the Securities and Exchange Board of India (Sebi) to ensure proceedings are time-barred and cases aren't initiated beyond a certain period. Sebi's inputs have been sought and an amendment to this effect could be included in the February 1 finance bill, a government official said.
Brokers seek time limit for Sebi notice, cut in minimum fine
A leading stockbrokers' association has urged the government to impose an outer time limit on regulator Sebi for issuance of show-cause notices and bring down minimum penalty on small investors for any violation to ₹1 lakh from ₹5 lakh.
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