SEBI Bans Unicon Capital Services, Officials Market regulator Sebi today barred Unicon Capital Services and its officials for continuing merchant banking activities even after expiry of the license. According to the Securities and Exchange Board of India (Sebi), Unicon’s certificate of initial registration as merchant banker expired on December 21, 2012 but even after expiry … Read More →
SEBI today started recovery proceeding against Maitreya Services and its two directors for failing to pay over Rs 82 crore with regard to an illegal money pooling case. On January 22, Sebi had asked the company as well as its two directors – Varsha Madhusudan Satpalkar and Janardan Arvind Parulekar – to pay Rs 82 … Read More →
Market regulator SEBI has approved the appointment of Mrugank Paranjape as the MD & CEO of commodity exchange MCX. In a filing to the BSE, MCX has informed that SEBI, vide its letter dated March 30, 2016, has conveyed its approval for the appointment for a period of three years from the date of his … Read More →
SEBI approves IDBI Bank’s request to raise Rs 848 crore from LIC via preferential issue Public sector IDBI Bank on Wednesday said it has raised over Rs 848 crore by allotting equity shares to LIC on preferential basis. IDBI Bank referred Sebi’s approval letter dated March 29, 2016, whereby the market regulator accepted Bank’s request … Read More →
To protect securities market from cyber threats, regulator Sebi has asked commodity derivatives exchanges to put in place framework to safeguard systems, networks and databases from such attacks. “The exchanges are one of the systemically important Market Infrastructure Institutions (MII) and for operational … these MIIs, need to have “robust cyber security framework in order … Read More →
The Supreme Court (SC) on Tuesday gave markets’ regulator Securities and Exchange Board of India (Sebi) a go-ahead to sell Sahara’s properties to secure the bail amount payable by Subrata Roy. Roy is liable to pay Rs 10,000 crore to get out of jail. He’s failed to do so, which has ensured he has remained … Read More →
As it tightens the noose on PACL for refunding over Rs 49,000 crore raised through illegal money pooling activities, Sebi has cautioned investors against yielding “to any pressure” from the group or its agents for converting existing schemes. Seen as one of the biggest ponzi schemes in the country, the market watchdog has set up … Read More →
In 1990s there were various instances of collection of money by numerous agro-based and plantation companies, which eventually failed to provide any return on the investments (despite promising around 18-30% returns) including the repayment of principal amount. In this context, the Government of India, vide its press release dated November 18, 1997, decided that an … Read More →
Volatile markets notwithstanding, more than 2,200 new Foreign Portfolio Investors ( FPIs) registered with regulator Sebi in the first 10 months of the ongoing fiscal. According to the latest data from Securities and Exchange Board of India (Sebi), the capital markets had witnessed 1,444 newly registered foreign portfolio investors in the entire fiscal 2014-15.
Suspicion of cash transfers through the illegal hawala channel in the course of arbitrage between gold futures contracts traded on local exchanges and those traded overseas was one of the main reasons for Sebi and Economic Offences Wing (EOW) of the Mumbai police to have conducted joint raids on certain brokers in Kolkata and Mumbai, … Read More →