This stock rallied 10,000% over ‘fake’ disclosures and now is in Sebi’s crosshairs. Do you own it?
2 weeks, 2 days ago

This stock rallied 10,000% over ‘fake’ disclosures and now is in Sebi’s crosshairs. Do you own it?

Live Mint  

Securities and Exchange board of India on Monday suspended trading in shares of Bharat Global Developers Ltd., the latest in a string of crackdowns on companies manipulating their stock price through accounting frauds and fake disclosures. Stocks Rallied Over 10,000% In 1 Year Shares of the Gujarat-headquartered company surged over 10,000% in the 12-month period ending November as it announced forays into market-fancied sectors like defense, aerospace and agro technology, and then followed it up with a series of disclosures to stock exchanges about “high-value orders” from marquee corporates. Meanwhile, the BSE on Monday deferred the bidding for Solar91 Cleantech Ltd.’s initial public offering pending further examination of “certain queries raised by complainants in media.” Bharat Global had alloted about 100 million shares to 41 investors through preferential share offerings in April and August at significant discount to market price, the SEBI order showed. “Material disclosures of the company and the actions of the preferential allottees appear to have been planned towards sale of shares to make huge profits.” SEBI member Ashwani Bhatia said in the order.

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History of this topic

Sebi suspends Bharat Global trading after stock rally 10,000 per cent in one year
Trending News
2 weeks, 2 days ago

Sebi suspends Bharat Global trading after stock rally 10,000 per cent in one year

New Indian Express  

MUMBAI: The market regulator Sebi has ordered the suspension of trading in Bharat Global Developers’ stocks, which have surged more than 10,000 per cent in the past year. The decision came after it was discovered that the company had falsely claimed to have secured large orders from marquee corporates like Reliance, Tata Group, UPL, and McCain India Agro. In a …

SEBI suspends trading of Bharat Global Developers over financial misrepresentation
2 weeks, 2 days 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
2 weeks, 3 days 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
2 weeks, 3 days 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 …

Sebi against exuberance, price manipulations in SME listings; board to discuss it soon: WTM Bhatia
3 weeks, 1 day ago

Sebi against exuberance, price manipulations in SME listings; board to discuss it soon: WTM Bhatia

Live Mint  

Mumbai, Dec 17 Capital markets regulator Sebi wants to prevent exuberance, price manipulations and fraudulent trading practices on the Small and Medium Enterprises exchange, a senior official said on Tuesday. Addressing the India SME Banking Summit here, Whole Time Member Ashwani Bhatia said the regulator's board will be taking up the issue at its forthcoming meeting. "We are cognisant of …

SEBI imposes ₹9 lakh fine on Reliance Securities for ‘flouting market norms’
1 month, 1 week 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 …

Sebi investigating if Adani group flouted disclosure rules
1 month, 2 weeks ago

Sebi investigating if Adani group flouted disclosure rules

Live Mint  

India’s capital markets regulator is looking into whether the Adani group violated rules mandating the disclosure of market-moving information, according to people with knowledge of the matter. The Securities and Exchange Board of India has asked officials at the stock exchanges if Adani Green Energy Ltd failed to properly disclose the US Justice Department’s investigation into bribery allegations, the people …

Multibagger realty stock declares 1:10 stock split, 8:10 bonus shares after 2000% rally YTD
1 month, 3 weeks ago

Multibagger realty stock declares 1:10 stock split, 8:10 bonus shares after 2000% rally YTD

Live Mint  

Bharat Global Developers share price was locked in at 5% upper circuit on Monday after the company announced a bonus issue of shares along with a stock split. Bharat Global Developers Bonus Issue Bharat Global Developers said its board of directors approved the issue of bonus shares to enhance share liquidity, increase affordability, and broaden shareholder participation. Bharat Global Developers …

It takes corporate earnings, not crowds, to sustain a stock market boom
1 month, 3 weeks ago

It takes corporate earnings, not crowds, to sustain a stock market boom

Live Mint  

The Indian stock market has been in the global spotlight for what The Economist has called the “largest-ever experiment in participatory capitalism." As share indices hit one peak after another over the past five years, attracting retail interest, India’s investor base has grown explosively. Likewise, a large chunk of the 101.2 million mutual fund accounts linked with Systematic Investment Plans, …

SEBI must reveal ‘big players’ making profits at expense of small investors: Rahul Gandhi on ‘uncontrolled’ F&O trading
3 months, 2 weeks ago

SEBI must reveal ‘big players’ making profits at expense of small investors: Rahul Gandhi on ‘uncontrolled’ F&O trading

Live Mint  

Senior Congress leader Rahul Gandhi said on Tuesday, September 24, that capital markets regulator Securities and Exchange Board of India must reveal the names of the ‘big players’ who have been making profits at the expense of small retail investors. Amid the Congress vs SEBI row where the opposition has repeatedly attacked SEBI chairperson Madhabi Puri Buch over corruption charges, …

SEBI’s Buch Under Pressure: Can India’s Market Watchdog Chief Weather the Storm?
4 months, 3 weeks ago

SEBI’s Buch Under Pressure: Can India’s Market Watchdog Chief Weather the Storm?

The Hindu  

Published : Aug 16, 2024 20:42 IST - 8 MINS READ When the Satyam scam came to light in January 2009, it was a bolt from the blue for India’s stock market. The report accuses Buch of investing in an offshore Mauritius fund that’s part of the very fund structure being probed by SEBI for its fund flows into Adani …

​Step down: On upholding the integrity of SEBI
4 months, 3 weeks ago

​Step down: On upholding the integrity of SEBI

The Hindu  

Not since the Harshad Mehta scam of 1992 has India’s securities regulations and oversight come under such scrutiny. However, the accusations of a conflict of interest levelled by New York-based short-seller Hindenburg Research against SEBI chairperson Madhabi Puri Buch in the conduct of the ongoing investigations against the Adani Group, the Ahmedabad-based global infrastructure to FMCG major, for alleged stock …

Adani Group case: Hindenburg Research gets show cause notice from SEBI, US firm terms it 'nonsense'
6 months, 1 week ago

Adani Group case: Hindenburg Research gets show cause notice from SEBI, US firm terms it 'nonsense'

India TV News  

Adani-Hindenburg row: Hindenburg Research, the US-based short-seller, said it received a show-cause notice from India’s capital market regulator Securities and Exchange Board of India in the Adani Group case. The US firm said the show cause notice does resolve some questions: "Did Hindenburg work with dozens of firms to short Adani, making hundreds of millions of dollars? Adani-Hindenburg row Hindenburg …

IIFL Securities turns bearish after SEBI investigates Sanjiv Bhasin’s role in stock manipulation, stock crashes 10%
6 months, 1 week ago

IIFL Securities turns bearish after SEBI investigates Sanjiv Bhasin’s role in stock manipulation, stock crashes 10%

Live Mint  

Shares of domestic brokerage IIFL Securities turned bearish soon after capital markets regulator Securities and Exchange Board of India initiated a probe into Sanjiv Bhasin's role in stock market manipulation. Bhasin, who regularly provides stock trading suggestions on various business news channels, was associated with IIFL Securities as a consultant on a contractual basis. The report quoted IIFL Securities in …

Infosys CEO settles insider trading case with Sebi; pays ₹25 lakh
6 months, 1 week ago

Infosys CEO settles insider trading case with Sebi; pays ₹25 lakh

The Hindu  

Infosys CEO Salil Parekh settled charges for failing to place adequate internal controls to prevent insider trading at India's No.2 IT services exporter during a 2020 contract, the country's markets regulator said on Thursday. Mr. Parekh agreed to pay 2.5 million rupees to settle the markets regulator's charge, which related to a contract for Infosys to provide U.S. financial firm …

Sebi closes probe into former Unitech promoters, cites lack of evidence
6 months, 2 weeks ago

Sebi closes probe into former Unitech promoters, cites lack of evidence

Live Mint  

The Securities and Exchange Board of India has closed an investigation against Unitech Ltd's former promoters Sanjay Chandra and Ajay Chandra over allegations of stock manipulation. Lack of sufficient corroborative evidence Sebi chief general manager G. Ramar, the adjudicating officer in the case, observed in the order that there was a lack of sufficient corroborative evidence to establish the allegation …

Shielding SEBI: On Supreme Court’s ruling and SEBI probe
1 year 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 …

SEBI sets conditions for National Stock Exchange IPO. These are…
1 year ago

SEBI sets conditions for National Stock Exchange IPO. These are…

Hindustan Times  

The Securities and Exchange Board of India has laid down some important conditions for the National Stock Exchange's proposed initial public offering, media reports said on Monday. According to Zee Business, the NSE had filed its draft papers for the IPO with SEBI in December 2016, with a plan to raise ₹10,000 crore from the public issue, which was planned …

SEBI still probing 13 overseas entities’ holdings in Adani group
1 year, 4 months ago

SEBI still probing 13 overseas entities’ holdings in Adani group

The Hindu  

The Securities Exchange Board of India said its investigation into two crucial aspects raised by the Hindenburg Research report against the Adani Group continues to be in an “interim” stage. One of the two investigations which has so far foxed SEBI is about the 13 overseas entities who were classified as public shareholders of the Adani group of companies. Explained …

SEBI bars Brightcom’s top officials from holding directorial posts; here’s why
1 year, 4 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. …

IIFL Securities shares tank over 18% on Sebi order
1 year, 6 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 …

An unclean chit: The Hindu Editorial on the SEBI investigation and Hindenburg Research’s allegations
1 year, 7 months ago

An unclean chit: The Hindu Editorial on the SEBI investigation and Hindenburg Research’s allegations

The Hindu  

Last Wednesday, the Supreme Court granted the Securities and Exchange Board of India more time to complete its investigation into Hindenburg Research’s allegations of malfeasance, stock price manipulations and violations of minimum public shareholding requirements in Adani Group firms. But the findings of a six-member expert panel, tasked by the Court to review Indian securities market’s overall regulatory and investor …

SEBI proposes curbs on derivative-linked share moves
1 year, 7 months ago

SEBI proposes curbs on derivative-linked share moves

The Hindu  

The Securities and Exchange Board of India, India’s market regulator, proposes measures to contain extreme price movements in shares on which futures and options trade, including longer trading suspensions and restricting price movements. SEBI proposed in a consultation paper late on May 21 that if a share in the futures and options segment falls or rises by 10% a day, …

SEBI investigating Adani since 2016 is factually baseless, regulator tells SC
1 year, 7 months ago

SEBI investigating Adani since 2016 is factually baseless, regulator tells SC

Deccan Chronicle  

New Delhi: The Securities and Exchange Board of India apprised the Supreme Court on Monday that the market regulator is already investigating Adani Group companies since 2016 is factually baseless. SEBI has informed Supreme Court that in respect of the investigation and examination relating to 12 transactions referred to in the Hindenburg Report, prima facie it is noted that these …

SC offers 3-month extension to Sebi on Adani group case
1 year, 7 months ago

SC offers 3-month extension to Sebi on Adani group case

Live Mint  

The Supreme Court on Friday offered an additional three months to the Securities and Exchange Board of India to complete its investigation into the alleged violation of laws by the Adani group, expressing reservations about the regulator’s request for a six-month timeframe. The court, however, said it would review the Justice Sapre committee’s report on regulatory failure and breach of …

Sebi slaps ₹25 lakh fine on 5 entities for non-genuine trades
1 year, 8 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 …

Hindenburg report on Adani group | SC calls for protecting Indian investors from sudden market volatility
1 year, 10 months ago

Hindenburg report on Adani group | SC calls for protecting Indian investors from sudden market volatility

The Hindu  

The Supreme Court on Friday asked the Securities and Exchange Board of India and the government to produce the existing regulatory framework in place to protect Indian investors, who are mostly middle class and reported to have lost several lakhs of crores in the past two weeks after the U.S.-based short-seller firm Hindenburg Research published a report, which led to …

Ex-chief of National Stock Exchange sought advice from Himalyan Yogi, says Sebi
2 years, 10 months ago

Ex-chief of National Stock Exchange sought advice from Himalyan Yogi, says Sebi

India Today  

The former head of India's largest stock exchange shared confidential information with a yogi and sought his advice on crucial decisions, a probe by the market regulator has found, ahead of the bourse's much-awaited public listing. In a case of "bizarre misconduct" that was a "glaring breach" of regulations, Chitra Ramkrishna, the former chief executive of National Stock Exchange, shared …

BharatPe founder Ashneer Grover denies allegations of fraud, poor work culture; guns for his investors
2 years, 11 months ago

BharatPe founder Ashneer Grover denies allegations of fraud, poor work culture; guns for his investors

Firstpost  

Grover has made it clear that current CEO Suhail Sameer does not have his support, and that the latter is the ‘investors’ puppet’ Ashneer Grover is calm. Grover is co-founder and managing director of BharatPe, a company that was better known for its QR code aggregator app, service and surprise bank licence until a month ago, but is now best …

Delhivery Gets Sebi’s Go-Ahead To Raise Rs 7,460 Cr Via IPO
2 years, 11 months ago

Delhivery Gets Sebi’s Go-Ahead To Raise Rs 7,460 Cr Via IPO

ABP News  

New Delhi: Delhivery, the supply chain firm, has received Sebi’s approval to raise Rs 7,460 crore through an initial public offering. The IPO comprises fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale component of Rs 2,460 crore by existing shareholders, according to the draft red herring prospectus, PTI reported. According to the draft papers, …

SEBI Imposes Rs 3 Lakh Penalty On Raj Kundra, Shilpa Shetty, Viaan Industries For Violating Insider Trading Norms
3 years, 5 months ago

SEBI Imposes Rs 3 Lakh Penalty On Raj Kundra, Shilpa Shetty, Viaan Industries For Violating Insider Trading Norms

Live Law  

The Securities and Exchange Board of India has imposed a penalty of Rs 3 lakhs on Viaan Industries and its promoters Shilpa Shetty and her husband Raj Kundra for violating SEBI Regulations, 2015.The order was passed based on an investigation into the tradings of the company listed in Bombay Stock Exchange during the period 2013- 2015.On October 29, 2015, VIL. …

SEBI bans CNBC Awaaz Stocks Editor for fraudulent trading. Here is how he made Rs 3 crore
3 years, 11 months ago

SEBI bans CNBC Awaaz Stocks Editor for fraudulent trading. Here is how he made Rs 3 crore

Op India  

Securities and Exchange Board of India, the market regulator on Wednesday barred CNBC Awaaz Editor Hemant Ghai, his mother and his wife for indulging in fraudulent trading practices. In its Interim Order, SEBI says that upon analysis of trading pattern of Hemant Ghai’s mother and wife for period between January 1, 2019 to May 31, 2020, high correlation was found …

Infosys Shares Fall by 2 Percent After Sebi, US Securities Initiate Probe into Whistleblower Allegations
5 years, 2 months ago

Infosys Shares Fall by 2 Percent After Sebi, US Securities Initiate Probe into Whistleblower Allegations

News 18  

New Delhi: Infosys shares on Thursday declined 2 per cent after Securities and Exchange Board of India and US Securities and Exchange Commission initiated probe following the whistleblower complaints. On Monday, Infosys informed stock exchanges about anonymous whistleblower complaints alleging certain unethical practices. "The company has been in touch with the Securities and Exchange Commission regarding the anonymous whistleblower complaints …

Sebi probing huge derivatives position in Infosys before whistleblower complaint became public
5 years, 2 months ago

Sebi probing huge derivatives position in Infosys before whistleblower complaint became public

Live Mint  

Mumbai: Markets regulator Securities and Exchange Board of India is probing the buildup of huge derivatives positions in Infosys stock before allegations of accounting malpractices went public, said two people with direct knowledge of the matter. The whistleblower complaint made to the management and US Securities and Exchange Commission became public on 21 October. The whistleblower complaint accused the company’s …

Madras HC issues notice to SEBI, MCA, ED in NSE co-location case
5 years, 2 months ago

Madras HC issues notice to SEBI, MCA, ED in NSE co-location case

India TV News  

The Madras High Court has admitted a Public Interest Litigation filed by the Chennai Financial Markets and Accountability in the National Stock Exchange co-location case and issued notices to the SEBI, the Ministry of Corporate Affairs, the CBI, Enforcement Directorate and the NSE. The order copy dated September 27 also said that the PIL brought to the knowledge of the …

Co-location case: SEBI bars NSE from security markets for 6 months, directs to pay Rs 625 crore
5 years, 8 months ago

Co-location case: SEBI bars NSE from security markets for 6 months, directs to pay Rs 625 crore

India TV News  

Markets regulator Securities and Exchange Board of India on Tuesday barred National Stock Exchange from the securities market for six months in the case of misuse of its co-location facility. It also directed NSE to pay more than Rs 625 crore in the case of misuse of its co-location facility. Besides, the bourse's two former chief executive officers -- Ravi …

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