‘Sebi may be asked to relax 75% promoter stake norm for PSBs’
Posted on 6th May 2019 |
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With an aim to enable the further recapitalisation of public sector banks (PSBs), the Finance Ministry may seek a relaxation for PSBs in the market regulator Sebi’s norms for entities requiring promoters to have 75 per cent holdings in them, according to a senior official source The Securities and Exchange Board of India (Sebi) listing norms mandate that every listed entity will maintain a minimum public shareholding of 25 per cent. |
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Sebi finds serious misuse of NSE data
Posted on 3rd May 2019 |
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Mumbai: Sebi’s investigation into the NSE co-location scam has found that there was serious misuse of confidential and price sensitive data provided by the NSE to Ajay Shah for creating the Liquidity Index (LIX). Sebi has held that Shah—a senior academic with the government think-tank National Institute of Public Finance and Policy —along with his sister-in-law and an NSE official, |
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Sebi asks 'fraudulent' NSE to pay Rs 625 cr in co-location case
Posted on 1st May 2019 |
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The Securities and Exchange Board of India (Sebi), which probed alleged lapses in the high-frequency trading offered through National Stock Exchange (NSE)'s co-location facility, has directed the bourse to pay Rs 625 crore along with the interest. Sebi estimated that NSE had earned a profit of Rs 624.89 crore during 2010-11 to 2013-14 from its co-location operation. |
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State Bank gets 8 new DMDs and 21 CGMs
Posted on 30th April 2019 |
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New Delhi: A series of top-level promotions last week has ended the suspense over allocation of new portfolios at State Bank of India. In one of the biggest human resource (HR) rejigs in recent years, India’s largest lender has promoted eight top officials as deputy managing directors (DMDs) and 21 as chief general mangers (CGMs). The internal promotions fills a vacuum created at the bank’s top-deck after the government, in September last year, appointed 10 senior executives from SBI as managing directors and chief executive officers in other state-owned banks. Half of them were DMDs at the bank. |
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Sebi’s plan to restrict royalty payments to 2% runs into hurdles
Posted on 26th April 2019 |
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Mumbai: Based on the recommendations of the Kotak panel, the Securities and Exchange Board of India had decided to restrict royalty payments to 2%. Royalty payment is the fee paid by Indian subsidiaries to overseas parent companies for the usage of the brand. |
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Sebi bars cash-strapped Hotel Leelaventure from asset sale to Brookfield
Posted on 25th April 2019 |
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The Securities and Exchange Board of India (Sebi) on Wednesday ordered cash-strapped Hotel Leelaventure to not proceed with the Brookfield Asset Management deal, following letters of objection from foods-to-tobacco major ITC and state-owned insurance giant Life Insurance Corporation (LIC). |
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Sebi bars Hotel Leelaventure from selling properties to Brookfield Asset Management
Posted on 24th April 2019 |
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New Delhi: Cash-strapped Hotel Leelaventure on Wednesday said capital markets regulator Sebi has barred it from selling its four hotels and other assets to Canadian investment fund Brookfield Asset Management. On March 18, Hotel Leelaventure Ltd (HLVL) had announced sale of its four hotels located in Bengaluru, Chennai, Delhi and Udaipur, and a property to Canadian investment fund Brookfield for Rs 3,950 crore. |
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Reliance Jio shifts control of optical fibre, tower units to RIIHL trusts
Posted on 2nd April 2019 |
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Reliance Jio has transferred control of its fibre and mobile tower units to two infrastructure investment trusts set up by Reliance Industrial Investments and Holdings Ltd (RIIHL). The optical fibre cable infrastructure unit, Jio Digital Fibre Private Ltd (JDFPL) has allocated shares worth Rs 500 crore to Reliance Jio Infocomm Ltd (RJIL) on March 31, 2019, according to a regulatory filing. |
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Sebi exempts govt from making an open offer for shareholders of PNB
Posted on 28th March 2019 |
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New Delhi: Sebi on Wednesday exempted the government from making an open offer for the shareholders of Punjab National Bank but directed reduction in non-public shareholding in the lender post capital infusion. In February, Punjab National Bank filed an application on behalf of the central government seeking exemption from open offer requirement under takeover regulations. |
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Sebi fines 4 entities Rs 27 lakh for fraudulent trading in BSE stock options
Posted on 23rd February 2019 |
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New Delhi: Markets regulator Sebi on Friday imposed a total penalty of Rs 27 lakh on four entities for indulging in fraudulent trade in illiquid stock options segment of BSE. Umapati Oil Mill and Ginning Factory, Yudhbir Chhibbar, Kasturbhai Mayabhai Pvt Ltd and Vimladevi Shyamsunder Khetan are the four entities, according to Sebi's separate orders. |
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