Apart from these two firms, Everlon Synthetics has also filed draft papers with SEBI to mop up funds by issuing equity shares to existing shareholders.

The regulator had asked acquirers to garner shares from 25 of every 100 shareholders in a company, irrespective of the amount of stake they held. It has now said this would not be applicable if it can be shown that all shareholders were contacted.

Speaking at an Association of Mutual Funds in India meeting, he said Sebi had taken a number of steps on algo trading. “We are likely to take more. We are trying to evaluate what measures to take and what will be their impact. As and when we decide, and it won’t be too long in the future, we will take more measures,” he said.

On agenda in streamlining the rules for raising foreign capital through issue of partly-paid shares, besides decisions on the regulator;s annual Budget.

Janak Dwarkadas, senior advocate and counsel for DLF, was countering the regulator’s earlier claim that the action had been taken after receiving multiple complaints against the company. SAT adjourned hearing of the appeal to Tuesday.

In addition to broadening the definitions of unpublished price-sensitive information (USPI), insider and connected persons, the legal perspective suggests graver consequences for company officials involved in selective exchange of information.

“...The post issue timelines will reduce from T+12 days to T+6 days. Once the process gets stabilised, timelines can be further curtailed to T+3/2 days. Further, on account of reduction in printing of application forms, the overall cost of public issues will also come down,” said the Securities and Exchange Board of India (Sebi).

The Securities and Exchange Board of India’s new set of research analyst regulations, which seek to regulate disclosures, conflict of interest and compensation practices for research analysts, has the potential to do something similar.

The Reserve Bank of India has issued the same instruction. This is in line with the requirement under a new American law, the Foreign Account Tax Compliance Act (Fatca). All foreign institutions would have to provide information on whether they have any clients who would be subject to taxation under American laws. They are required to register with America’s Internal Revenue Service for this purpose. After doing so, they get a Global Intermediary Identification Number; without this, they get subject to the witholding tax.