SEBI Tightens The Noose To ‘Uncover’ The Beneficiaries Behind FPIs

As an aftermath of the Adani issue, the market regulator Securities and Exchange Board of India has decided to set a deadline of September this year for the Foreign Portfolio Investors (FPI) to disclose the Ultimate Beneficial Owners (UBO) of their funds.   According to reports, SEBI has asked the designated depository participants (DDP), which are the banks that act as a link between the market regulator, FPIsand investors, to update the list of UBOs.  It may be noted that the identity of the UBOs has been a controversial topic…

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SEBI Levies Rs 26 Cr Fine On Coffee Day Enterprises For Irregularities

SEBI, or the Securities and Exchange Board of India, fined Coffee Day Enterprises, the parent company of Cafe Coffee Day, on January 24 for diverting funds from subsidiaries to a business connected to the promoters. The Securities and Exchange Board of India (Sebi) said in an order that the company has been directed to pay the fine within 45 days The company in consultation with the National Stock Exchange, is required to appoint an independent law firm to take effective steps for recovery of the outstanding dues. Further, SEBI has…

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SEBI To Fine National Stock Exchange Rs 100 Cr For Lapses

The National Stock Exchange (NSE) will be required to pay the market regulator Securities and Exchange Board of India (SEBI) Rs 100 crore as a result of mistakes made in a case that was filed in May 2018 about an alleged co-location trading scheme at the exchange. On Monday, the Securities Appellate Tribunal (SAT) reduced the disgorgement judgement in the NSE co-location case by Rs 625 crore. Instead, in order to make up for its lack of care, the NSE was required to contribute Rs 100 crore to SEBI’s investor…

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SEBI Launches Database Of Municipal Bonds For Awareness On Debt Securities

The information database will include a wide range of information in the form of statistics and regulations, circulars, guidance notes and Frequently Asked Questions (FAQs) issued by the markets regulator related to municipal debt securities The Security and Exchange Board of India (SEBI) has launched an information database on municipal bonds. This was stated by the regulator through an official statement.  According to the statement, the markets regulator had organised an outreach programme on municipal bonds and municipal finance in Delhi on 20 and 21 January, 2023. The programme was attended…

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Sebi Performs Operations For Search, Seizure For Present Case

In connection with a hotly contested case involving individuals connected to market experts who appeared on television, the market regulator Securities and Exchange Board of India conducted search and seizure operations on Thursday. According to sources cited by PTI, Sebi searched and seized items at the official and home locations of six companies that were suspected of engaging in front running based on non-public information. According to the SEBI (Prohibition of Fraudulent and Unfair Trade Practices pertaining to Securities Market) Regulations, 2003, this front running is illegal.. In the context…

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Market Regulator Probes Investments Between YES Bank & Nippon Mutual Fund: Report

The capital market regulator, Sebi is investigating the suspected misuse of investors’ money that happened between Nippon India Mutual Fund and YES Bank between 2016 and 2019, as per reports.  At the said time, the largest foreign-owned fund in India, Nippon India Mutual Fund was owned by the Anil Dhirubhai Ambani Group, whereas, in 2020, YES Bank was operating under the Central Bank and sold to a consortium of banks after a drastic increase in toxic assets. The investigation delves into whether the investments by the fund were in perpetual…

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Sebi Suggests Separating Brokers’ And Investors’ Money

The Securities and Exchange Board of India (Sebi) has proposed to introduce a blocking of funds facility for trading in secondary markets, with the intent to safeguard investors’ money from misuse and default by stock brokers. This move will be similar to the Application Supported by Blocked Amount (ASBA)–it ensures that the investors’ money only gets moved when an allotment happens. The regulator is welcoming public comments till 16 February. SEBI stated that the facility will allow investors to trade in secondary markets directly without the involvement of a stock…

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OYO To Refile DRHP With Updates To Sebi

Oravel Stays which operates the global travel tech company OYO is set to refile its public listing application known as Draft Red Herring Prospectus (DRHP) with Sebi by the middle of Feb 2023. Previously, the firm had indicated that the process of refiling could take up to 2-3 months. OYO’s last submission to the market regulator was updated results of the first half of FY22-23. Subsequently, Sebi has asked OYO to refile the DRHP with all the relevant updates on Risk Factors, KPIs, Outstanding Litigations and Basis for Offer among…

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Innova Captab Gets Sebi Nod For IPO

Innova Captab, an integrated pharmaceutical company in India has received final observation from the capital markets regulator, Securities and Exchange Board of India (Sebi), to raise funds through an initial public offering (IPO).  The company had filed preliminary IPO papers with Sebi on July 07, last year.  The issue with a face value of Rs 10 per equity share consists of a fresh issue of equity shares worth up to Rs 400 crore and an offer-for-sale (OFS) up to 9,600,000 equity shares by Promoter and selling shareholders, which comprises of…

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Sebi Allows Launch Of Multiple Contracts In Same Commodity

The Securities and Exchange Board of India (Sebi) released a circular on Thursday informing that it has allowed the stock exchanges to launch numerous contracts in the same commodity.  The action has been taken to encourage more participation of investors and it will come into force with immediate effect. It was noticed that except for gold, silver and precious metals, the investors’ participation, especially in metal contracts is limited due to the requirement of a single contract on a particular commodity. The market regulator said that stock exchanges have suggested…

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