Sebi writes to Fin-Min on money laundering probe
Posted on 29th December 2014 |
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The markets regulator Securities and Exchange Board of India (Sebi) has sought help from various investigative agencies under the finance ministry to tackle the alleged money laundering in listed companies. Sources with direct knowledge of the matter said that Sebi recently wrote to the finance ministry, highlighting the modus operandi used by certain low value companies to evade taxes. |
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Sebi bars Ecogreen, directs it to refund money within 3 months
Posted on 27th December 2014 |
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Market regulator Sebi today ordered immediate closure of unauthorised investment schemes run by Ecogreen Realestate India and directed the firm to refund investors' money alongwith returns within 3 months. Besides, the company and its directors have been barred from raising money from the public as well as capital markets. |
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Sebi leads multi-agency probe into black money scam by listed companies
Posted on 23rd December 2014 |
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The Securities and Exchange Board of India (Sebi), income-tax department and special investigative team (SIT) on black money are learnt to be spearheading a multi-agency probe into an alleged flow of unaccounted money through some 100 listed companies. According to people in the know, Sebi is examining the role of these companies in misuse of the exchange platform to launder money and evade taxes. In the near term, the regulator might pass an order against 25 of those. Considering the number of companies involved, regulatory estimates peg the quantum of the alleged scam at close to Rs 20,000 crore. |
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Received multiple complaints against DLF, says Sebi
Posted on 23rd December 2014 |
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The Securities and Exchange Board of India (Sebi) on Monday told the Securities Appellate Tribunal (SAT) that it had received complaints from several investors against real estate major DLF and it had not proceeded only on K K Sinha's complaint. DLF had approached SAT against a Sebi order. Sebi had barred the company, its promoter and key executives from accessing the capital market for three years. The tribunal has also called for correspondence involving DLF's merchant bankers, auditors and Sebi. The hearing is set to continue on Tuesday. |
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Sebi's ban list includes many repeat offenders
Posted on 22nd December 2014 |
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The list of 260 entities barred by the capital markets regulator on Friday contains many habitual offenders. First Financial Services has on previous occasions been pulled up by the BSE, National Stock Exchange (NSE) and the Securities and Exchange Board of India (Sebi). While Radford Global, another entity barred by the Sebi, has never been pulled up before, at least a dozen entities related to Radford have been pulled up by Sebi and both NSE and BSE on previous occasions, showed an analysis of past orders based on data from an exchange-sponsored investor-protection website. |
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Sebi's prisoner number one
Posted on 20th December 2014 |
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Kolar Biotech Chairman Vinod Hingorani had told his mother he would return to his rented apartment on Mira Road here by 2 pm on Thursday. But by evening, he found himself in Byculla Jail, the first person to be sent to jail by the Securities and Exchange Board of India (Sebi). The market regulator said Hingorani had defaulted on penalties of Rs 1.65 crore. |
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Sebi order like capital punishment: DLF counsel argues
Posted on 18th December 2014 |
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The Securities Appellate Tribunal (SAT) adjourned the hearing of real estate major DLF after arguments were heard in the first session on Thursday. The appeal is set to continue in the afternoon. The tribunal hears appeals against decisions of the stock market regulator. |
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Sebi asks RBI, MCA to join efforts to deepen corp bond market
Posted on 18th October 2014 |
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As the government seeks to create a vibrant, deep and liquid corporate bond market, the Securities and Exchange Board of India (Sebi) has approached the Reserve Bank of India and ministry of corporate affairs, among others, to address impediments in this regard. Sebi has also proposed allowing reissuance of existing debt securities by a corporate issuer within the specified time, rather than launching a new issue. |
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Journalists under new Sebi norms
Posted on 10th December 2014 |
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The Securities and Exchange Board of India (Sebi) said on Tuesday the norms covering research analysts' recommendations would also apply to journalists. "Sebi (Research Analyst) Regulations, 2014, cover any person, including journalists, who make public appearance or make comments through the public media for giving opinion or recommendations concerning securities or on public offers," Sebi stated on its website on Tuesday. |
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Sebi considers penalties to prevent self-trades
Posted on 9th December 2014 |
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Concerned that ‘self-trades’ are disturbing market equilibrium, the Securities and Exchange Board of India (Sebi) is planning penal action against market participants doing this. Sources say the market regulator has seen an increase in such trades, with the aim of creating artificial volumes and to manipulate prices. Trades where the buyer and seller are the same and not resulting in a change of ownership are termed self-trades. Typically, these occur when multiple dealers from the same broking house carry out trades using the same client code. |
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