Sebi mulls stricter disclosures for auditor resignation
Posted on 19th July 2019 |
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In light of a spate of resignations by auditors and many not stating the reasons for such decisions, markets regulator Sebi on Thursday put out a consultation paper on policy proposals with respect to resignation of statutory auditors from listed entities, asking for suggestions on the new framework. The Securities Exchange Board of India (Sebi) has proposed that if the auditor of a listed entity has signed the audit report for all the quarters of a financial year, except the last quarter, |
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Sebi chief questions Budget plan for transfer of surplus funds to govt
Posted on 18th July 2019 |
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Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi has written to the finance ministry, seeking a review of the Budget proposal that mandates transferring 75 per cent of the market regulator's surplus funds to the central government, it is learnt. In a letter to the ministry on July 10, Tyagi said the proposed move, part of the Finance Bill, 2019, would affect the functioning of Sebi as well as the securities market. |
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Sebi fines GKS Properties Rs 5 lakh for fraudulent trade
Posted on 16th July 2019 |
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Markets regulator Sebi levied a fine of Rs 5 lakh on GKS Properties for executing non-genuine trades in the illiquid stock options segment at BSE. The ruling follows an investigation conducted by Sebi in the stock options segment of the bourse between April 2014 and September 2015. During investigation, Sebi noted that 81.38 per cent of all trades executed in the segment at BSE were the ones which involved reversal of buy and sell positions by the clients and counterparties in a contract on the same day, thereby creating artificial volume in the stock options segment. |
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Indigo crisis: Sebi starts probe, summons airlines’ company secretary
Posted on 12th July 2019 |
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Ahead of the response it has sought from the company regarding complaints by co-promoter Rakesh Gangwal over alleged violations of corporate governance, the Securities Exchange Board of India (Sebi) on Thursday summoned IndiGo’s company secretary Sanjay Gupta. Gupta has been company secretary and chief compliance officer at IndiGo since August 2016. |
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Sebi starts investigation into governance issues at InterGlobe Aviation
Posted on 11th July 2019 |
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The Securities and Exchange Board of India (Sebi) has initiated a preliminary enquiry into alleged corporate governance issues at InterGlobe Aviation, which operates IndiGo. According to sources in the know, the market regulator is likely to seek further details from the co-promoters of the company to ascertain the veracity of the matter. |
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SBI cuts MCLR by 5 bps across tenures
Posted on 10th July 2019 |
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State Bank of India (SBI), the country’s largest lender, on Tuesday cut its marginal cost of funds-based lending rates (MCLR) by 5 basis points across tenures. “Interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from July 10, 2019,” the bank said. |
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NCDEX gets Sebi's approval to launch 'whole moong' futures on July 8
Posted on 6th July 2019 |
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India's largest agri centric commodity futures trading platform, the National Commodity & Derivatives Exchange (NCDEX) is planning to launch futures trading in 'whole raw moong' (not for direct consumption) on July 8. Moong is one of the highest consuming and trading varieties in the Indian pulses basket. |
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Sebi seeks seat on RBI board, more powers
Posted on 4th July 2019 |
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AFTER the Finance ministry shot down a proposal by Sebi to remove the Reserve Bank of India (RBI) nominee on its board, the capital market regulator has now changed tack and instead sought a place on the RBI board. It has suggested that the RBI Act, 1934, be amended to provide a seat on the board of the banking regulator. |
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Under Sebi glare, ICRA sends MD and CEO Naresh Takkar on sudden leave
Posted on 2nd July 2019 |
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In an unprecedented move, the board of rating agency ICRA on Monday has asked its Managing Director and Chief Executive Officer Naresh Takkar to go on indefinite leave, pending an enquiry into concerns raised by the market regulator the Securities and Exchange Board of India (Sebi). Without disclosing specific reasons, the rating agency informed the stock exchanges that its board in its meeting on Monday decided to place Takkar on leave, |
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