NDTV to file appeal against SEBI order imposing a penalty of Rs 12 lakh for delayed disclosures
5 years, 9 months ago

NDTV to file appeal against SEBI order imposing a penalty of Rs 12 lakh for delayed disclosures

Op India  

Media house New Delhi Television Ltd has decided to file an appeal against the Securities and Exchange Board of India order imposing a penalty of Rs 12 lakh on the media group for failing to make timely disclosures to the stock exchanges. The order imposing the penalty was issued by the SEBI after it noticed multiple disclosure lapses by NDTV and noted non-compliance with Substantial Acquisition of Shares and Takeover regulations. The company said that the SEBI order, which is yet to be received by them, is likely to be set aside in appeal. According to the SEBI order, NDTV delayed the disclosure of the information relating to the acquisition of 40 lakh of its shares by Indiabulls Financial Services in January 2008 and the acquisition of 20.28% of the total share capital of the media group by its promoters in July 2008.

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History of this topic

NCLAT upholds ICICI Sec delisting, dismisses appeal against NCLT order
Trending News
2 weeks, 2 days ago

NCLAT upholds ICICI Sec delisting, dismisses appeal against NCLT order

New Indian Express  

In a major relief for ICICI Bank and ICICI Securities, the National Company Law Appellate Tribunal on Monday dismissed petitions challenging ICICI Securities’ delisting process from the stock exchanges. A Delhi-based two-member NCLAT bench, comprising Justice Yogesh Khanna and Technical Member Ajay Das Mehrotra, dismissed petitions filed by Quantum Mutual Fund and Manu Rishi Gupta, a public shareholder. Quantum and …

Madhabi Puri Buch case: Bombay HC stays order directing FIR against former SEBI chief, others
Trending News
3 weeks, 1 day ago

Madhabi Puri Buch case: Bombay HC stays order directing FIR against former SEBI chief, others

The Hindu  

The Bombay High Court on Tuesday stayed a Mumbai sessions court order for four weeks that directed the Anti-Corruption Bureau to register an FIR against the former Securities and Exchange Board of India Chairperson Madhabi Puri Buch and five other SEBI and Bombay Stock Exchange officials in an alleged stock market fraud, regulatory violations, and corruption linked to the listing …

Bombay High Court halts Maharashtra ACB action against ex-SEBI chief Madhabi Puri Buch, others till March 4
3 weeks, 2 days ago

Bombay High Court halts Maharashtra ACB action against ex-SEBI chief Madhabi Puri Buch, others till March 4

The Hindu  

The Bombay High Court on Monday asked the Anti-Corruption Bureau not to act on a Mumbai sessions court order to register an FIR against former Securities and Exchange Board of India Chairperson Madhabi Puri Buch and five others, until March 4, 2025. The sessions court on March 1, 2025 directed the ACB to register a First Information Report against Buch …

Bombay HC to hear pleas of ex-Sebi chief, others on March 4; ACB to not act on special court order until then
Top News
3 weeks, 2 days ago

Bombay HC to hear pleas of ex-Sebi chief, others on March 4; ACB to not act on special court order until then

Live Mint  

The Bombay High Court is set to hear the pleas of the former Sebi chief and others on March 4, the Anti-Corruption Bureau will not proceed with the special court order until then, reported PTI. The development comes after the market regulator informed to initiate legal action against the court order alleging ex-SEBI Chief Madhabi Puri Buch and five others …

Bombay HC grants urgent hearing on FIR order against ex-Sebi chief Madhabi Puri Buch, others
3 weeks, 2 days ago

Bombay HC grants urgent hearing on FIR order against ex-Sebi chief Madhabi Puri Buch, others

Live Mint  

The Bombay High Court has granted an urgent hearing for SEBI and BSE's challenge against an FIR involving allegations against ex-SEBI chief Madhabi Puri Buch and five other officials over regulatory violations and stock market violations, according to a CNBC TV-18 report. On Saturday, March 1, a special Anti-Corruption Bureau court in Mumbai ordered the registration of an FIR against …

SEBI to challenge Mumbai Court’s corruption probe FIR order on ex-Chief Madhabi Puri Buch
3 weeks, 3 days ago

SEBI to challenge Mumbai Court’s corruption probe FIR order on ex-Chief Madhabi Puri Buch

Live Mint  

The Securities and Exchanges Board of India, on Sunday, March 2, announced that they will initiate appropriate legal action over the corruption court order, which involves an allegation of involvement of SEBI's ex-Chief Madhabi Puri Buch and five other officials into an irregularity in granting listing permission to a firm, according to an official press release. “SEBI would be initiating …

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

Axis Securities penalised ₹10 lakh by Sebi for flouting stock broker rules
1 month ago

Axis Securities penalised ₹10 lakh by Sebi for flouting stock broker rules

Live Mint  

Capital markets regulator Sebi has imposed a penalty of ₹10 lakh on Axis Securities for flouting stock brokers rules as well as other regulatory norms. In an 82-page order, Sebi found that Axis Securities failed to follow regulatory procedures in several areas, including reporting discrepancies and improper handling of client funds. The market regulator found that Axis Securities had inconsistencies …

SEBI Issues Attachment Order In Eros International Media Case, See What The Regulator Said
1 month, 2 weeks ago

SEBI Issues Attachment Order In Eros International Media Case, See What The Regulator Said

ABP News  

The Securities and Exchange Board of India ordered 10 bank accounts, shares, and mutual funds holdings of 10 individuals to be attached to recover Rs 1.25 crore. The regulator said that the entities failed to comply with SEBI’s investigation in the matter of Eros International Media Ltd. Issuing 10 separate orders on Thursday and Friday, the capital markets regulator said …

Sebi settles adjudication proceedings against Paytm executives
2 months, 1 week ago

Sebi settles adjudication proceedings against Paytm executives

Live Mint  

Mumbai: Markets regulator Securities and Exchange Board of India has settled adjudication proceedings against several executives and independent directors of One97 Communications Ltd, the parent of fintech firm Paytm, for alleged violations of securities laws. The adjudication proceedings stemmed from concerns raised by Sebi in July 2023 regarding the actions of Amit Khera, Paytm’s then-compliance officer and company secretary, as …

SEBI to continue proceedings against ZEEL, issue fresh show cause notice
2 months, 3 weeks ago

SEBI to continue proceedings against ZEEL, issue fresh show cause notice

The Hindu  

Markets watchdog Securities and Exchange Board of India on Thursday said it will slap a fresh show cause notice on Zee Entertainment Enterprises Limited founder chairman Subhash Chandra, and his son Punit Goenka as it vowed to continue the investigation into alleged violation of listing norms against the media baron and his company. The order passed by SEBI’s adjudicating officer …

SEBI suspends trading of Bharat Global Developers over financial misrepresentation
3 months 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 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 board likely to tighten SME listing norms
3 months, 1 week ago

Sebi board likely to tighten SME listing norms

New Indian Express  

Late October the Sebi said it would come out with a discussion paper aimed at finalising some measurers to tighten the regulatory framework for SME IPOs. In a stern action on December 3, the Sebi cancelled the issue by Trafiksol ITS Tech and ordered the company to refund the Rs 45 crore collected through the issue to investors within a …

Supreme Court refuses to curtail Calcutta Stock Exchange’s extension for Sebi compliance
3 months, 2 weeks ago

Supreme Court refuses to curtail Calcutta Stock Exchange’s extension for Sebi compliance

Live Mint  

The Supreme Court has declined to intervene in the Calcutta High Court’s decision to give the Calcutta Stock Exchange, India’s oldest stock exchange, more time to comply with the Securities and Exchange Board of India’s 2012 Exit Policy. The court said it would review CSE’s compliance with the Exit Policy at the next hearing on 7 March 2025. Sebi had …

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms
3 months, 3 weeks 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’
3 months, 3 weeks 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, 2 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 Imposes Rs 11 Lakh Fine On IIFL Securities For Compliance Failures
7 months 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 imposes ₹11 lakh penalty on IIFL Securities for violating stock broker regulations
7 months 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 …

'Dishonest, Misleading': SEBI Rejects Defence And Mandates Disclosure, Shareholder Approval For Material Related Party Transactions
8 months ago

'Dishonest, Misleading': SEBI Rejects Defence And Mandates Disclosure, Shareholder Approval For Material Related Party Transactions

Live Law  

The Securities and Exchange Board of India has issued a final order concerning Linde India Limited and its related party transactions with Praxair India Pvt Ltd and Linde South Asia Services Pvt Ltd. SEBI's investigation was triggered by complaints from LIL's shareholders who alleged that these RPTs were conducted without proper shareholder approval and were potentially detrimental to the interests …

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

SEBI Proposes Amendments To Handle Securities Law Violations By Intermediaries Through Summary Proceedings
8 months, 1 week ago

SEBI Proposes Amendments To Handle Securities Law Violations By Intermediaries Through Summary Proceedings

Live Law  

The Securities and Exchange Board of India has issued a consultation paper proposing amendments to the SEBI Regulations, 2008 which introduces provisions for summary proceedings to handle specific types of securities law violations by intermediaries. The introduction of summary proceedings addresses issues observed in the current regulatory framework. However, SEBI has noted an increased number of violations by other intermediaries, …

Karnataka HC sets aside NCLT order on rights issue, sends the matter back to tribunal
8 months, 3 weeks ago

Karnataka HC sets aside NCLT order on rights issue, sends the matter back to tribunal

New Indian Express  

BENGALURU: The Karnataka High Court on Tuesday set aside the National Company Law Tribunal order that had restrained Byju’s from launching a second rights issue. The high court also declined the request of the investors’ counsel to suspend the present order by the high court which sets NCLT’S order. Earlier, four investors including Peak XV Partners and General Atlantic Singapore …

Raselle Capital VCC settles FPI violation case with Sebi, pays Rs 1.23 cr
8 months, 3 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 …

Eros International moves SAT against Sebi’s order in fund diversion matter
8 months, 3 weeks ago

Eros International moves SAT against Sebi’s order in fund diversion matter

Live Mint  

Mumbai: Media company Eros International, along with its key executive officials, on Friday moved the Securities Appellate Tribunal against the Securities and Exchange Board of India’s October 2023 restraint order in an alleged fund diversion matter. The market regulator in its order had restrained vice chairman Sunil Lulla from holding the position of a director or a key managerial personnel …

Weekly Digest Of IBC Cases: 5th To 11th February 2024
1 year, 1 month ago

Weekly Digest Of IBC Cases: 5th To 11th February 2024

Live Law  

NCLAT NCLAT Delhi: Adjudicating Authority Should Grant Extension Of Time To Consider Resolution Plan Crucial To Fulfill Object Of IBC Case Title: Nimai Gautam Shah, Resolution Professional of Sintex Plastics Technology Ltd. vs. RBL Bank Ltd. Case No. : Company Appeal No.82 of 2024 The National Company Law Appellate Tribunal New Delhi, comprising Justice Ashok Bhushan, Mr. Barun Mitra, and …

Relief for Sebi as SC stays SAT order in Karvy Stock Broking case
1 year, 2 months ago

Relief for Sebi as SC stays SAT order in Karvy Stock Broking case

Live Mint  

New Delhi: The Supreme Court on Thursday stayed the Securities Appellate Tribunal's order in response to a plea filed by the Securities and Exchange Board of India in the Karvy Stock Broking case. The plea contested SAT's previous ruling, which had favoured major lenders such as Axis Bank, ICICI Bank, HDFC Bank, IndusInd Bank, and Bajaj Finance. Sebi and others …

Shielding SEBI: On Supreme Court’s ruling and SEBI probe
1 year, 2 months ago

Shielding SEBI: On Supreme Court’s ruling and SEBI probe

The Hindu  

The Supreme Court of India’s ruling on a batch of petitions, filed in the wake of a U.S.-based short seller’s allegations of malfeasance including stock price manipulation at the Adani group of companies, has squarely tossed the ball back to the markets regulator’s court. The Court has opted to subordinate petitioners’ entreaties to protect larger public interest to its chariness …

Monthly Digest Of IBC Cases: November 2023
1 year, 3 months ago

Monthly Digest Of IBC Cases: November 2023

Live Law  

Supreme Court IBC Resolution Plan Can't Ignore Government Dues: Supreme Court Dismisses Review Petitions Against 'Rainbow Papers' Case title: Sanjay Agarwal v. State Tax Officer Citation: 2023 LiveLaw 939 The Supreme Court has dismissed a batch of review petitions filed against a 2022 judgment which held that the definition of a secured creditor under the Insolvency and Bankruptcy Code, 2016 …

NCLT Mumbai: Penalty Imposed By SEBI During Liquidation Can Be Claimed Before Liquidator And Considered U/S 53 Of IBC
1 year, 5 months ago

NCLT Mumbai: Penalty Imposed By SEBI During Liquidation Can Be Claimed Before Liquidator And Considered U/S 53 Of IBC

Live Law  

The National Company Law Tribunal, Mumbai Bench comprising of Ms. Lakshmi Gurung and Shri Charanjeet Singh Gulati, allowed the appeal filed in Securities Board of India vs. Mr. Vishal Ghisulal Jain, Liquidator of, Sterling International Enterprises Ltd. The Tribunal held that a penalty imposed by SEBI’s Adjudicating Officer during the liquidation can be claimed before the Liquidator and can be …

Monthly Digest Of IBC Cases: September 2023
1 year, 5 months ago

Monthly Digest Of IBC Cases: September 2023

Live Law  

Supreme Court Case Title: Eva Agro Feeds Private Limited V. Punjab National Bank & Anr., Civil Appeal No. 971, 972 & 973 of 2023 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, has held that IBC provisions do not indicate that all information collected by the Resolution Professional is required …

SAT Sets Aside SEBI Order Which Held Prannoy Roy & Radhika Roy Liable For Insider Trading In NDTV
1 year, 5 months ago

SAT Sets Aside SEBI Order Which Held Prannoy Roy & Radhika Roy Liable For Insider Trading In NDTV

Live Law  

The Securities Appellate Tribunal on Thursday set aside the order passed by the Securities and Exchange Board of India in November 2020 which held Prannoy Roy and his wife Radhika Roy, the former promoters of NDTV, liable for insider trading.The SEBI order had barred the Roys from buying, selling and dealing in securities directly and indirectly for a period of …

SAT quashes SEBI’s order against Prannoy Roy, Radhika Roy
1 year, 5 months ago

SAT quashes SEBI’s order against Prannoy Roy, Radhika Roy

Live Mint  

Securities Appellate Tribunal quashes SEBI's insider trading order against former NDTV promoters Prannoy Roy & Radhika Roy. The matter pertains to Sebi findings that Prannoy Roy and Radhika Roy indulged in insider trading in the scrip of NDTV between 1 September 2006 and 30 June 2008. By dealing in shares of NDTV while in possession of unpublished price-sensitive information, the …

Investors’ complaint redressal platform SCORES linked to online dispute resolution: Sebi circular
1 year, 6 months ago

Investors’ complaint redressal platform SCORES linked to online dispute resolution: Sebi circular

Live Mint  

The capital markets regulator Securities Exchange Board of India has released a circular announcing the redressal of investor grievances through the Sebi complaint redressal platform and linking it to online dispute resolution platform. For the uninitiated, SCORES is a complaint redressal facilitation platform that was launched in 2011 to give a web-based platform for the aggrieved investors whose grievances remain …

NCLT Hyderabad: NCLT Cannot Exercise Inherent Powers To Condone Delay Under Section 42 Of IBC When There Is A Clear Statutory Bar
1 year, 6 months ago

NCLT Hyderabad: NCLT Cannot Exercise Inherent Powers To Condone Delay Under Section 42 Of IBC When There Is A Clear Statutory Bar

Live Law  

The National Company Law Tribunal, Hyderabad comprising of Justice Smt. The Tribunal held that it cannot exercise its inherent powers to condone delay when there is a clear statutory bar in entertaining an appeal filed beyond the period prescribed under the Code. Contentions of the Liquidator: The Liquidator relied upon the Supreme Court case of National Spot Exchange Ltd. vs. …

SEBI suppressed important facts, 'slept over' DRI info on stock manipulation by Adani: Petitioner tells SC
1 year, 6 months ago

SEBI suppressed important facts, 'slept over' DRI info on stock manipulation by Adani: Petitioner tells SC

Hindustan Times  

Market regulator SEBI suppressed important facts from the Supreme Court and "slept over" Directorate of Revenue Intelligence's letter on alleged stock manipulation by the Adani firms, one of the PIL petitioners in the Adani-Hindenburg row has alleged in the top court in an affidavit. READ | '22 out of 24 matters probed’: SEBI submits status report to SC in Adani …

SAT postpones Punit Goenka’s plea against SEBI order; next hearing on...
1 year, 6 months ago

SAT postpones Punit Goenka’s plea against SEBI order; next hearing on...

Live Mint  

The Securities Appellate Tribunal adjourned the final hearing on a plea challenging a Sebi confirmatory order against Zee Entertainment Enterprises' chiefs. Sebi order barred ZEEL's Punit Goenka and Shubhash Chandra from holding any key positions in the company and other organisations. In its confirmatory order, Sebi restricted Goenka and Chandra from holding any directorship or other key managerial positions in …

SEBI (Settlement Proceedings) Amendment Regulations, 2023 | SEBI Empowers Panel Of Whole Time Members For Settlement Proceedings
1 year, 7 months ago

SEBI (Settlement Proceedings) Amendment Regulations, 2023 | SEBI Empowers Panel Of Whole Time Members For Settlement Proceedings

Live Law  

In a significant development, the Securities and Exchange Board of India has introduced an amendment to the Securities and Exchange Board of India Regulations, 2018, via the Securities and Exchange Board of India Regulations, 2023. The Securities and Exchange Board of India has exercised its powers under Section 15JB of the Securities and Exchange Board of India Act, 1992, Section …

Ministry Of Corporate Affairs Looking Into SEBI's Order Against Zee Entertainment: Report
1 year, 7 months ago

Ministry Of Corporate Affairs Looking Into SEBI's Order Against Zee Entertainment: Report

ABP News  

The Ministry of Corporate Affairs is looking into SEBI's order against Zee Entertainment Enterprises for alleged irregularities, reported ET Now on Friday. In June, the market regulator banned Zee Chairman Subhash Chandra and CEO Punit Goenka for alleged "abused their positions" for personal financial gains. On Friday, the report said that Corporate Affairs Ministry has taken cognizance of the SEBI's …

Schneider Electric Withdraws Appeal Against SEBI Before SAT; Set To Relist On National Stock Exchanges
1 year, 7 months ago

Schneider Electric Withdraws Appeal Against SEBI Before SAT; Set To Relist On National Stock Exchanges

Live Law  

Schneider Electric President Systems Ltd, the French company, has decided to rejoin national stock exchanges after withdrawing its appeal against the Securities and Exchange Board of India before the Securities Appellate Tribunal. The company found circulars which, as per Schneider's assertion, permitted them to delist from regional stock exchanges without adhering to SEBI's delisting regulations. 144 Of 2021 Date: 26.07.2023 …

SEBI Introduces Alternate Dispute Resolution Amendment Regulations 2023
1 year, 8 months ago

SEBI Introduces Alternate Dispute Resolution Amendment Regulations 2023

Live Law  

The Securities and Exchange Board of India issued a notification on July 3, 2023, introducing amendments to the Alternative Dispute Resolution Mechanism Regulations. Amendments to the Securities and Exchange Board of India Regulations, 1996: A new regulation, 17A, is inserted, stating that all claims, differences, or disputes between a custodian and its client shall be submitted to a dispute resolution …

Sebi holds ‘fit and proper’ rule
1 year, 8 months ago

Sebi holds ‘fit and proper’ rule

Live Mint  

Mumbai: The Securities and Exchange Board of India, which set forth the ‘fit and proper’ person criteria for intermediaries, said in a statement before Bombay High Court on Thursday that it will not insist on compliance with notice until 2 August. A division bench led by Justices Gautam Patel and Neela Gokhale asked Sebi to file its affidavit in reply …

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 …

IIFL Securities shares tank over 18% on Sebi order
1 year, 9 months ago

IIFL Securities shares tank over 18% on Sebi order

Live Mint  

IIFL Securities share price plunged over 18% in early deals on Tuesday after capital market regulator Securities and Exchange Board of India barred the company from taking new clients for 2 years. However, IIFL Securities said that the Sebi’s order does not affect the company's existing business with the existing clients. Read Here: SEBI bars IIFL Securities from taking new …

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 …

Plea for six months is to carry out justice, not a delay tactic: SEBI tells SC
1 year, 10 months ago

Plea for six months is to carry out justice, not a delay tactic: SEBI tells SC

The Hindu  

The Securities Exchange Board of India on Monday in the Supreme Court said its request for a “minimum” of six more months to inquire into Hindenburg Research’s allegations of fraud against the Adani Group is to ensure “carriage of justice”. Where further investigation is required and most of the data required for this purpose is expected to be reasonably accessible, …

Adani-Hindenburg Saga: SC to hear SEBI’s 6-month extension plea on May 12
1 year, 10 months ago

Adani-Hindenburg Saga: SC to hear SEBI’s 6-month extension plea on May 12

Live Mint  

The Supreme Court will hear the plea by capital markets regulator Securities and Exchange Board of India seeking a six-month extension to complete the probe on Adani Group on May 12, according to CNBC-TV18. Sebi had asked the apex court for the extension to finish its investigation into allegations levelled by US-based short seller Hindenburg against the conglomerate, noting that …

Weekly Digest Of IBC Cases: 1 May To 7 May 2023
1 year, 10 months ago

Weekly Digest Of IBC Cases: 1 May To 7 May 2023

Live Law  

Supreme Court IBC| Principle Of Commercial Wisdom Not Validate A Decision Taken By CoC In Contravention Of Law: Supreme Court Case Title: M.K. Rajagopalan v Dr. Periasamy Palani Gounder Citation: 2023 LiveLaw 403 The Supreme Court Bench comprising of Justice Dinesh Maheshwari and Justice Vikram Nath, has held that a resolution applicant cannot be rendered ineligible to submit a resolution …

Buying time: on the Securities and Exchange Board of India probe and allegations against Adani group
1 year, 10 months ago

Buying time: on the Securities and Exchange Board of India probe and allegations against Adani group

The Hindu  

Barely two days before the expiry of a Supreme Court-stipulated deadline to probe allegations raised by Hindenburg Research about misdemeanours and violations of stock market norms by the Adani group, the Securities and Exchange Board of India has sought at least six more months from the Court to finalise its findings. Following the bloodbath in the prices of most Adani …

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