RPL case: Sebi slaps fine on Reliance, Ambani
4 years, 3 months ago

RPL case: Sebi slaps fine on Reliance, Ambani

Live Mint  

India’s markets regulator on Friday fined Reliance Industries Ltd and its chairman and managing director Mukesh Ambani a total of ₹40 crore for alleged manipulation in the trading of Reliance Petroleum Ltd’s securities. According to Sebi’s order, RIL executed a well-planned operation with its agents to make undue gains from the trading of its erstwhile listed unit, RPL which was merged with the former in 2009. “It was observed that Navi Mumbai SEZ and Mumbai SEZ have allegedly aided and abetted RIL by providing funds to one of the agents appointed by RIL, who in turn provided funds to other 11 agents for making the margin payments for the short positions in RPL November Futures,” it stated. The fines relate to a 24 March 2017 Sebi order that found fraudulent trading in the futures and options segment of the securities of RPL by RIL.

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History of this topic

Sebi imposes ₹5 crore penalty on BSE arm ICCL for regulatory lapses
1 month, 1 week ago

Sebi imposes ₹5 crore penalty on BSE arm ICCL for regulatory lapses

Live Mint  

In a significant regulatory move, the Securities and Exchange Board of India slapped a penalty of ₹5.05 crore on the Indian Clearing Corporation Ltd., a subsidiary of BSE Ltd, following an inspection that revealed several instances of non-compliance concerning the clearing corporation’s practices and systems. The inspection also revealed that ICCL had not fully complied with Sebi’s cyber security framework, …

SEBI fines Motilal Oswal ₹7 lakh for violating stock brokerage regulations: Report
2 months ago

SEBI fines Motilal Oswal ₹7 lakh for violating stock brokerage regulations: Report

Live Mint  

India's capital market regulator, the Securities and Exchange Board of India, on Thursday, January 30, fined the brokerage Motilal Oswal Financial Services ₹7 lakh after conducting an investigation over an alleged violation of stock brokerage regulations, reported multiple media outlets. “After taking into consideration the facts and circumstances of the case, materials available on record, submissions made by the Noticee …

Front running case: Sebi bans 2 persons from securities market for 6-month
2 months ago

Front running case: Sebi bans 2 persons from securities market for 6-month

Live Mint  

New Delhi, Markets regulator Sebi on Tuesday restrained two persons from the securities market for six months and directed them to disgorge ₹34.26 lakh "wrongful gains" made by them through their involvement in front-running activities. Ltd. in the cash market and equity derivatives segments of NSE by its dealer Kadam in the trading account of Bhatkar based on the impending …

Sebi clubs fund diversion, disclosure violation probes against ZEE, Punit Goenka and Subhash Chandra
2 months, 4 weeks ago

Sebi clubs fund diversion, disclosure violation probes against ZEE, Punit Goenka and Subhash Chandra

Live Mint  

The capital market regulator on Thursday clubbed proceedings against Zee Entertainment Enterprises Ltd, its chief executive Punit Goenka and former chairman Subhash Chandra over allegations of fund diversion and violation of disclosure requirements. In response, Zee and Goenka filed settlement applications with Sebi, which the regulator rejected in April 2023 and referred the case for further investigation. In August 2023, …

SEBI suspends trading of Bharat Global Developers over financial misrepresentation
3 months, 1 week ago

SEBI suspends trading of Bharat Global Developers over financial misrepresentation

Deccan Chronicle  

New Delhi: Markets regulator Sebi on Monday suspended trading in Bharat Global Developers Ltd for financial misrepresentation, misleading disclosures, price manipulation, and offloading shares at inflated prices. In fact, such wealth has arisen from misrepresentation of the company's business and financials to general investors and shareholders," Sebi Whole Time Member Ashwani Bhatia said in his 25-page order. Accordingly, Sebi in …

Sebi suspends trading of Bharat Global Developers shares over financial misrepresentation
Top News
3 months, 1 week ago

Sebi suspends trading of Bharat Global Developers shares over financial misrepresentation

Hindustan Times  

Markets regulator Sebi on Monday suspended trading in Bharat Global Developers Ltd for financial misrepresentation, misleading disclosures, price manipulation, and offloading shares at inflated prices. The SEBI Bhavan at BKC Bandra in Mumbai Additionally, the regulator has barred the company, its managing director Ashok Kumar Sewada, CEO Mohsin Shaikh and directors --Dinesh Kumar Sharma and Nirali Prabhatbhai Karetha -- and …

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation
Trending News
3 months, 1 week ago

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation

Live Mint  

The market regulator has suspended trading in Bharat Global Developers Ltd’s shares until further notice over allegations of fraudulent activities and false disclosures in a rare such action. "The shocking falsities presented by BGDL as legally required disclosures to the exchange expose a clear fraudulent scheme," said Sebi's order, authored by whole-time member Ashwani Bhatia. Regulator's scrutiny Citing Sebi's proactive …

Front-running case: Sebi bans 9 entities from mkt, impounds illegal gains of over ₹21 cr
3 months, 1 week ago

Front-running case: Sebi bans 9 entities from mkt, impounds illegal gains of over ₹21 cr

Live Mint  

Market regulator Sebi has uncovered a front-running scheme involving PNB MetLife India Insurance Company equity dealer Sachin Bakul Dagli and eight other entities, who generated illegal gains of ₹21.16 crore. Sebi had conducted an examination into the suspected front running of the trades undertaken by the Big Client, PNB Metlife India Insurance, by certain entities. The regulator, in interim passed …

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms
4 months ago

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms

Live Mint  

Capital markets regulator Securities and Exchange Board of India on Friday, November 29, penalized Reliance Securities with ₹9 lakh for flouting market norms and stock broker rules. The order came after the regulator and exchanges, NSE and BSE, conducted a thematic onsite inspection of the books of accounts, records, and other documents of authorised persons of Reliance Securities Ltd, a …

SEBI imposes ₹9 lakh fine on Reliance Securities for ‘flouting market norms’
4 months ago

SEBI imposes ₹9 lakh fine on Reliance Securities for ‘flouting market norms’

Hindustan Times  

The Securities and Exchange Board of India on Friday imposed a ₹9 lakh monetary penalty on Reliance Securities for “flouting market norms” and stock broker rules. According to a PTI report,the market regulator's order came after National Stock Exchange and Bombay Stock Exchange carried out a thematic onsite inspection of the books of accounts, records and other documents of authorised …

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case
4 months, 3 weeks ago

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case

Live Mint  

The Supreme Court on Monday dismissed a plea by the Securities and Exchange Board of India to impose a ₹25 crore penalty on Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, over alleged share manipulation involving Reliance Petroleum Ltd in November 2007. A two-judge bench of Justices J.B. Pardiwala and R. Mahadevan agreed to hear Sebi's broader case …

SEBI slaps ₹63 crore fine on Rana Sugars
7 months ago

SEBI slaps ₹63 crore fine on Rana Sugars

Hindustan Times  

The Securities and Exchange Board of India has imposed a penalty of ₹63 crore on Rana Sugar Limited on the alleged charges of diversion of funds to its conduit and individual entities. In detailed orders, which included the operations details of the investigation into the transactions made by the RSL to its alleged conduit entities, SEBI investigation into the matter …

Anil Ambani reviewing SEBI order banning him from capital markets
7 months ago

Anil Ambani reviewing SEBI order banning him from capital markets

New Indian Express  

NEW DELHI: Anil Ambani is reviewing the Securities and Exchange Board of India order imposing a fine and banning him from capital markets for five years in an alleged fund diversion case and will take appropriate next steps as legally advised, his spokesperson said in a statement on Sunday. Ambani had resigned from the board of Reliance Infrastructure and Reliance …

SEBI Imposes Rs 11 Lakh Fine On IIFL Securities For Compliance Failures
7 months, 1 week ago

SEBI Imposes Rs 11 Lakh Fine On IIFL Securities For Compliance Failures

Live Law  

The Securities and Exchange Board of India has levied a fine of Rs 11 lakh on IIFL Securities Limited for breaches of various regulatory guidelines under the Securities Contracts Rules and associated SEBI circulars. The SEBI order highlighted that IIFL Securities violated multiple provisions related to margin trading and client fund management. The broker was found to have transferred securities …

Sebi bans Anil Ambani and 24 others from market for five years, slaps Rs 254 crore fine
7 months, 1 week ago

Sebi bans Anil Ambani and 24 others from market for five years, slaps Rs 254 crore fine

New Indian Express  

MUMBAI: The markets watchdog Securities and Exchange Board has banned Anil Ambani and 24 others, including former key officials of Reliance Home Finance, from the securities market for five years charging them with fund diversion by creating a “fraudulent scheme to siphon off money from the company by structuring it as loans to credit-unworthy borrowers.” The Rs 104 crore cumulative …

Sebi imposes ₹11 lakh penalty on IIFL Securities for violating stock broker regulations
7 months, 1 week ago

Sebi imposes ₹11 lakh penalty on IIFL Securities for violating stock broker regulations

Live Mint  

Capital market regulator Sebi on Wednesday slapped a fine of ₹11 lakh on brokerage firm IIFL Securities for flouting stock broker rules and other regulatory norms. Sebi conducted an inspection of IIFL Securities Ltd covering the period from April to July 2022 to assess the firm’s adherence to regulatory requirements. In its 35-page order, Sebi noted that IIFL Securities acknowledged …

Sebi bans Omaxe, its chairman, MD others from securities mkt for two years
8 months ago

Sebi bans Omaxe, its chairman, MD others from securities mkt for two years

Hindustan Times  

New Delhi, Jul 30 Sebi on July 30 barred real estate firm Omaxe, its chairman Rohtas Goel, managing director Mohit Goel and three others from the securities market for two years for irregularities in the company's financial statements. Sebi on July 30 barred real estate firm Omaxe, its chairman Rohtas Goel, managing director Mohit Goel and three others from the …

SEBI Fines IFGL Rs. 4 Lakh For Regulatory Breaches And Deficient Investor Grievance System
8 months, 1 week ago

SEBI Fines IFGL Rs. 4 Lakh For Regulatory Breaches And Deficient Investor Grievance System

Live Law  

The Securities and Exchange Board of India has fined Delhi-based Indian Finance Guaranty Ltd Rs. The primary issues identified included IFGL's engagement in fund-based activities and multiple deficiencies in its investor grievance redressal system. SEBI mandates that stock brokers must provide a designated email ID exclusively for investor grievances, yet IFGL used the personal email of its CEO and compliance …

Raselle Capital VCC settles FPI violation case with Sebi, pays Rs 1.23 cr
8 months, 4 weeks ago

Raselle Capital VCC settles FPI violation case with Sebi, pays Rs 1.23 cr

Business Standard  

The order came after Raselle Capital proposed to settle the instant proceedings initiated against it without "admitting or denying the findings of facts and conclusions" of the law. | Photo: Bloomberg Foreign portfolio investor Raselle Capital VCC has settled a case related to the alleged violation of FPI rules with capital markets regulator Sebi after paying Rs 1.23 crore as …

CBI arrests Dheeraj Wadhawan in Rs 34,000 crore DHFL bank fraud investigation
10 months, 2 weeks ago

CBI arrests Dheeraj Wadhawan in Rs 34,000 crore DHFL bank fraud investigation

India TV News  

The Central Bureau of Investigation made a significant breakthrough on Tuesday as it apprehended Dheeraj Wadhawan in connection with the Rs 34,000 crore DHFL bank fraud probe. SEBI's actions In February of this year, the Securities Exchange Board of India took action by ordering the attachment of bank accounts, shares, and mutual fund holdings belonging to former DHFL promoters Dheeraj …

Special court convicts 3 directors of Roofit Industries, lets them off only with fine
1 year ago

Special court convicts 3 directors of Roofit Industries, lets them off only with fine

Hindustan Times  

MUMBAI: A special SEBI court on Wednesday convicted three directors of Roofit Industries Ltd. The accused, Suresh Motwani, Kishor Motwani and Milind Tamhane were the directors of Roofit Industries Ltd., a public limited company listed on the Mumbai Stock Exchange and the National Stock Exchange. However, due to unforeseen financial constraints, the declared dividend could not be distributed within the …

SEBI bars Brightcom’s top officials from holding directorial posts; here’s why
1 year, 7 months ago

SEBI bars Brightcom’s top officials from holding directorial posts; here’s why

Live Mint  

Capital markets regulator Securities and Exchange Board of India said in an interim order on Tuesday, August 22, that it has found lapses in Brightcom Group Limited preferential issue of shares. SEBI has barred Suresh Kumar Reddy - the promoter-cum-chairman and managing director of Brightcom Group, along with chief financial officer Narayan Raju from holding directorial posts until further notice. …

Sebi slaps Rs 20 lakh on 4 entities for non-genuine trades
1 year, 9 months ago

Sebi slaps Rs 20 lakh on 4 entities for non-genuine trades

India TV News  

Capital markets regulator Sebi on Thursday slapped penalties totalling Rs 20 lakh on four entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. The regulator imposed a fine of Rs 5 lakh each on Niruben Manojbhai Chudasama, Raj Kumar Lohiya, Nufact Merchandise Pvt Ltd and Nitu Agarwal. Sebi had observed large-scale reversal trades in the …

Zee Promoters Approach Securities Appellate Tribunal Against SEBI Order: Report
1 year, 9 months ago

Zee Promoters Approach Securities Appellate Tribunal Against SEBI Order: Report

ABP News  

The promoters of Zee Entertainment Enterprises Ltd have approached the Securities Appellate Tribunal to seek relief against the SEBI's order on Tuesday. Shares of Zee Entertainment Enterprises fell over 6.50 per cent in morning trade on Tuesday after SEBI banned Essel Group chairman Subhash Chandra and ZEEL's Punit Goenka from holding any directorial or key managerial position in any listed …

Sebi slaps ₹25 lakh fine on 5 entities for non-genuine trades
1 year, 11 months ago

Sebi slaps ₹25 lakh fine on 5 entities for non-genuine trades

Live Mint  

The Securities and Exchange Board of India levied penalties amounting to ₹25 lakh on five entities for engaging in fraudulent transactions in the illiquid stock options segment on the Bombay Stock Exchange. As per media reports, in five separate orders, the watchdog levied a fine of ₹5 lakh each on Natraj Dealtrade, Queen Tie-Up Pvt Ltd, Octagon Merchants, Noble Tradelink …

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks
2 years, 4 months ago

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks

Live Law  

The Supreme Court on Monday adjourned the hearing of the Securities and Exchange Board of India's challenge against the Securities Appellate Tribunal's order that reduced penalties imposed on NDTV promoters Prannoy Roy, Radhika Roy for allegedly concealing price sensitive information from shareholders. On July 20, the SAT at Mumbai had set aside the findings of the SEBI which held the …

SEBI bars Bombay Dyeing, Ness Wadia, others from securities market for up to two years; imposes fines of ₹15.75 crore
2 years, 5 months ago

SEBI bars Bombay Dyeing, Ness Wadia, others from securities market for up to two years; imposes fines of ₹15.75 crore

The Hindu  

Securities and Exchange Board of India has barred 10 entities, including Bombay Dyeing & Manufacturing Company Limited and its promoters — Nusli N Wadia, Ness Wadia and Jehangir Wadia — from the securities markets for up to two years and levied a fine totalling ₹15.75 crore on them for being involved in a fraudulent scheme of misrepresenting the company's financial …

Sebi bars 3 individuals from securities market for illegal investment advisory
2 years, 7 months ago

Sebi bars 3 individuals from securities market for illegal investment advisory

Live Mint  

Markets regulator Securities and Exchange Board of India on 31 August banned three individuals from the securities markets for providing unauthorised investment advisory services. The latest proceedings took place after SEBI issued a show cause notice dated 31 July, 2021 to RNS Global Capital and its proprietors' -- Lakhan Chouhan, Rohit Soni and Shivani Thakur -- alleging that they were …

Sebi penalises Aadhaar Ventures, its directors for flouting market norms
2 years, 7 months ago

Sebi penalises Aadhaar Ventures, its directors for flouting market norms

Live Mint  

Sebi on Monday levied fines on Aadhaar Ventures India Ltd and its directors for violating insider trading rules and listing conditions. Sebi imposed a fine of ₹10 lakh on Aadhaar Ventures India Ltd, its directors -- Jils Raichand Madan, Somabhai Sunderbhai Meena and Jyoti Munver for disclosure lapses. Sebi conducted an early investigation for alleged price manipulation in the scrip …

EXPLAINED | What Is Reliance Stock Allotment Case? Here's A Timeline Of The Controversy
2 years, 7 months ago

EXPLAINED | What Is Reliance Stock Allotment Case? Here's A Timeline Of The Controversy

ABP News  

Indian conglomerate Reliance Industries has moved Supreme Court and filed a contempt petition against capital market regulator Securities and Exchange Board of India alleging ‘wilful disobedience’, The Economic Times published on Monday. According to the report by ET, Reliance filed the petition regarding an order of the apex court that had directed the Sebi to give the company access to …

Frivolous Criminal Actions Against Large Corporations May Give Rise To Adverse Economic Consequences For Country: Supreme Court In Reliance vs SEBI
2 years, 7 months ago

Frivolous Criminal Actions Against Large Corporations May Give Rise To Adverse Economic Consequences For Country: Supreme Court In Reliance vs SEBI

Live Law  

The Supreme Court of India held that initiation of criminal action in commercial transactions, should take place with a lot of circumspection. The bench stated that initiating frivolous criminal actions against large corporations would give rise to adverse economic consequences for India in the long run. The Court made these observations while considering a petition filed by Reliance Industries Ltd …

SEBI slaps ₹1.6 cr penalty on Kotak AMC chief, 6 others for flouting MF rules
2 years, 9 months ago

SEBI slaps ₹1.6 cr penalty on Kotak AMC chief, 6 others for flouting MF rules

Live Mint  

Capital markets regulator Sebi on Thursday slapped penalties totaling ₹1.6 crore on seven entities, including Kotak Mahindra Trustee Company and Managing Director of Kotak AMC Nilesh Shah, for flouting rules pertaining to mutual funds while investing in Essel Group companies. Others penalised by Sebi are Kotak AMC's fund managers -- Lakshmi Iyer, Deepak Agarwal, Abhishek Bisen -- Compliance Officer Jolly …

Sebi bars Reliance Home Finance, Anil Ambani, 3 others from securities market
3 years, 1 month ago

Sebi bars Reliance Home Finance, Anil Ambani, 3 others from securities market

India Today  

Sebi on Friday restrained Reliance Home Finance Ltd, industrialist Anil Ambani and three other individuals from the securities market for allegedly siphoning off funds from the company. The order noted that the company's Key Managerial Persons like Executive Director and CEO Ravindra Sudhalkar and the CFOs -- Amit Bapna and Pinkesh R Shah -- "instead of bringing such misdeeds to …

SEBI drops adjudication proceedings against RIL in alleged incorrect financial disclosures matter
3 years, 6 months ago

SEBI drops adjudication proceedings against RIL in alleged incorrect financial disclosures matter

The Hindu  

Markets watchdog SEBI has disposed of adjudication proceedings without imposing any penalty on Reliance Industries Ltd in a matter related to alleged incorrect disclosure of diluted earnings per share in its financial results more than 13 years ago. The quarterly financial statements submitted by Reliance Industries Ltd to the NSE for six consecutive quarters beginning June 2007 to September 2008 …

HC orders notice to SEBI on plea against DHFL
3 years, 9 months ago

HC orders notice to SEBI on plea against DHFL

Live Mint  

The Madras High Court on Tuesday ordered notice to the Securities and Exchange Board of India on a PIL demanding investigation by it into the alleged fraudulent activities of the Dewan Housing Finance Corporation Ltd. "According to the petitioner, investors may have lost in excess of ₹40,000 crore, with regulators, credit-rating agencies, auditors and others who were required to vet …

SEBI bans Future Group's Kishore Biyani, others from securities market for one year over insider trading
4 years, 1 month ago

SEBI bans Future Group's Kishore Biyani, others from securities market for one year over insider trading

Firstpost  

New Delhi: SEBI on Wednesday barred Kishore Biyani and certain other promoters of Future Retail Ltd from the securities market for one year for indulging in insider trading in the shares of the company. Apart from Kishore Biyani, who was the CMD and promoter of Future Retail Ltd, others facing the ban are Future Corporate Resources Pvt Ltd, Anil Biyani …

Future Retail, Enterprises hit upper circuit after Sebi clears deal with RIL
4 years, 2 months ago

Future Retail, Enterprises hit upper circuit after Sebi clears deal with RIL

Hindustan Times  

Shares of Future Retail and Future Enterprises rose nearly 5 per cent and hit upper circuit limits after Sebi cleared Future Group's proposed multi-billion dollar deal with Reliance Industries Ltd. A shopper walks through an aisle displaying personal care goods at a Big Bazaar hypermarket, operated by Future Retail Ltd. in Mumbai On the BSE, Future Retail Ltd's shares hit …

RIL-Future Deal: Delhi HC Issues Notice Seeking Biyanis' & Reliance's Response In Amazon's Appeal
4 years, 2 months ago

RIL-Future Deal: Delhi HC Issues Notice Seeking Biyanis' & Reliance's Response In Amazon's Appeal

ABP News  

The Delhi court on Wednesday issued notice to Kishore Biyani-led Future Retail Ltd and Reliance Retail seeking response in Amazon's plea challenging the prima facie observations by a single judge that the American e-commerce giant's attempt to control the Indian entity was violative of FEMA and FDI rules.A Division Bench of Chief Justice DN Patel and Justice Jyoti Singh heard …

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal
4 years, 2 months ago

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal

Live Law  

A bench of the Securities Appellate Tribunal, Mumbai comprising of Justice Tarun Agarwala, Dr. CKG Nair and Justice MT Joshi in two similar orders directed the two NDTV promoters, Prannoy Roy and Radhika Roy to deposit 50% of the disgorged amount before the Securities Exchange Board of India within four weeks. The SAT was hearing two appeals preferred by the …

SEBI imposes penalty on Reliance Industries Limited, Mukesh Ambani, others: Details
4 years, 2 months ago

SEBI imposes penalty on Reliance Industries Limited, Mukesh Ambani, others: Details

Op India  

The Securities Exchange Board of India imposed penalty to the tune of Rs 75 crore on several entities including Reliance Industries Limited and its Chairman and Managing Director Mukesh Ambani for alleged manipulative trading. Passing an order on January 1, the SEBI levied fines worth Rs 25 crore on RIL, Rs 15 crore on Mukesh Ambani, Rs 20 crore on …

SEBI Imposes Rs 40 Crore Fine On Reliance Industries, Mukesh Ambani For Manipulative Trades In RPL
4 years, 2 months ago

SEBI Imposes Rs 40 Crore Fine On Reliance Industries, Mukesh Ambani For Manipulative Trades In RPL

Live Law  

The Securities Exchange Board of India on Friday imposed a fine of Rs 25 crore on Reliance Industries and Rs 15 crore on its chairman, Mukesh Ambani, for manipulating shares of Reliance Petroleum Ltd in November 2007.The issue relates to manipulation during the sale and purchase of Reliance Petroluem Limited shares in the cash and the futures segments in November …

SEBI fines NDTV Rs 25 crores in ICICI loan case: Details
4 years, 3 months ago

SEBI fines NDTV Rs 25 crores in ICICI loan case: Details

Op India  

Markets regulator Securities and Exchange Board of India on Thursday imposed a penalty of Rs 25 crore on controversial news outlet NDTV and Rs 1 crore each on its promoters. SEBI has imposed fines on NDTV and its promoters Prannoy Roy and Radhika Roy for “violating various securities” norms by hiding information from shareholders regarding certain loan agreements. One loan …

Sebi asks Sahara chief Subrata Roy to Pay ₹626 billion to avoid jail
4 years, 4 months ago

Sebi asks Sahara chief Subrata Roy to Pay ₹626 billion to avoid jail

Live Mint  

India’s markets regulator has petitioned the Supreme Court to direct tycoon Subrata Roy to pay ₹626 billion immediately, or cancel his parole if he doesn’t yield. The Securities and Exchange Board of India said the outstanding liability of the Sahara India Parivar group’s two companies and the group’s chief Roy stand at ₹626 billion, including interest, according to court filings …

Sebi penalises some Kirloskar promoters for fraud
4 years, 5 months ago

Sebi penalises some Kirloskar promoters for fraud

Live Mint  

The stock market regulator on Wednesday penalized Kirloskar Industries Ltd and six individual promoters of two Kirloskar companies, and barred two Kirloskar brothers from the stock market for six months, over various charges related to a share transaction in Kirloskar Brothers Ltd in 2010. In a set of three orders, the Securities and Exchange Board of India imposed a penalty …

Sebi orders impounding of over Rs 2 crore in insider trading case
5 years ago

Sebi orders impounding of over Rs 2 crore in insider trading case

India TV News  

Market regulator, Sebi has ordered impounding of alleged gains of over Rs 2 crore made from Fourth Dimension Solutions and its managing director Amalendu Mukherjee in an insider trading case. It further said that FDSL sold its entire shareholding in November 2015 when statutory auditor raised suspicions regarding certain transactions between Ricoh and its customers, and two days after the …

Sebi levies Rs 37.6 lakh fine on 6 firms for fraudulent trading
5 years, 4 months ago

Sebi levies Rs 37.6 lakh fine on 6 firms for fraudulent trading

India TV News  

Capital markets regulator Sebi has levied a total fine of Rs 37.6 lakh on five entities for executing reversal trade in the illiquid stock options segment on the BSE. Vinayaka Finlease Pvt Ltd, Hi-Tech Chemicals Pvt Ltd, Hi-Tech Heritage Ltd, Gradgrind Barter Pvt Ltd, Toplight Commercials Ltd and Wrinkle Marketing Pvt Ltd are the firms facing penalty. The orders come …

Individual settles case of alleged fraudulent trading with Sebi by paying over Rs 2.3 crore
5 years, 4 months ago

Individual settles case of alleged fraudulent trading with Sebi by paying over Rs 2.3 crore

India TV News  

An individual has settled with markets regulator Sebi a case of alleged fraudulent trading in IPOs of IDFC, Sasken and Suzlon by paying over Rs 98 lakh as settlement charges and disgorging over Rs 1 crore of unlawful gains. It was alleged that a group of financiers provided finance to key operators towards making multiple applications in the IPOs and …

SEBI levies Rs 40 lakh fine on 8 entities for fraudulent trading in BSE's illiquid stock options
5 years, 5 months ago

SEBI levies Rs 40 lakh fine on 8 entities for fraudulent trading in BSE's illiquid stock options

India TV News  

Markets regulator Sebi on Wednesday levied a total fine of Rs 40 lakh on eight entities for executing fraudulent trades in illiquid stock options on the BSE. The eight entities fined by the regulator were among the various entities that indulged in the execution of reversal trades in the stock options segment of the course, the orders noted. "The notice, …

SEBI levies Rs 22 lakh fine on 3 entities for fraudulent trade in illiquid stock options
5 years, 5 months ago

SEBI levies Rs 22 lakh fine on 3 entities for fraudulent trade in illiquid stock options

India TV News  

Capital markets regulator Sebi has levied a total penalty of over Rs 22 lakh on three entities for indulging in fraudulent trading in the illiquid stock options segment on the BSE. The regulator imposed a fine of Rs 12.2 lakh on Excell Steel and Rs 5 lakh each on Gokul Financial Advisors Pvt Ltd and Universal Enterprises Ltd. The orders …

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