Sebi
Sebi approves framework for creating Social Stock Exchange
The proposal for the creation of a Social Stock Exchange was put forth by Finance Minister Nirmala Sitharaman in her Budget speech in July 2019.
Sebi proposes to revise settlement rules
At present, entities are provided a window of 180 days in total to apply for settlement after receipt of the notice to show cause.
Sebi eases superior voting rights norms to aid startup listing
The current framework allows issuance of superior voting rights shares to promoters or founders holding an executive position in the company desirous of listing on the Main Board.
SEBI board revises delisting norms to streamline M&As
Under the current regulations, a company that is acquiring 49 per cent stake in a listed entity and sees its total stake rise over the 75 per cent mark post an open offer has to forcefully reduce its stake below the minimum public shareholding mark.
Sebi extends relaxations for compliance with rights issues
As per Issue of Capital and Disclosure Requirements norms, an application for a rights issue shall be made only through the ASBA facility.
FPI’s letter to Sebi on T+1 settlement
Foreign Portfolio Investors(FPIs) are stepping up opposition against market regulator the Securities and Exchange Board of India’s(Sebi’s) plan to introduce a shorter settlement cycle. Three FPI lobby groups -- the Asian Securities Industry and Financial Markets Association (ASIFMA), Traders Forum Asia and the UK-based Investment Association – have sent a joint letter to Sebi chairman Ajay Tyagi alleging that they were not consulted on the new rules.
Sebi in talks to redefine promoter norms
The Securities and Exchange Board of India (Sebi) is in talks with other regulators on the transition from the traditional concept of 'promoters' to that of 'controlling shareholders' so that corporate control is accurately reflected.
Sebi tweaks trading norms for mutual funds on RFQ platform
Inter Scheme Transfer trades are excluded from the revised framework, Sebi said in a circular. The new norms will come into effect from December 1, 2021.
Sebi bars Poonawalla Fincorp MD, 7 others from dealing in securities
The regulator has impounded the bank accounts of these individuals to the extent of Rs 13.58 crores.
SEBI probe finds Poonawalla Fincorp MD, others guilty of insider trading
SEBI’s investigation found that Bhutada had shared information about Adar Poonawalla’s proposed takeover of Magma Fincorp in his capacity as MD and CEO of Poonawalla Finance.
Sebi disposes of proceedings against Kotak Mahindra Bank
Two separate orders were issued by the Securities and Exchange Board of India (Sebi) on Friday in this regard.
Sebi extends deadline for investment advisers to conduct annual compliance audit
For the financial year ending March 31, 2021, the investment advisers (IA) are now required to conduct the annual compliance audit by December 31, 2021, and submit the adverse findings of the audit, if any, by January 31, 2022.
Sebi's new idea of social stock exchange throws up 3 opportunities for investors
SSE is likely to be a separate segment on existing stock exchanges. SEs eligible to participate in SSE, will be entities having social intent and social impact as their primary goals.
Sebi notifies certification requirements for distributors, staff of portfolio management services
The associated persons, engaged by a portfolio manager as a distributor of the PMS, and associated persons functioning as principal officers of a portfolio manager or an employee having decision-making authority related to fund management, will have to obtain certification from the NISM by passing the certification examination.
Sebi board clears frameworks for gold, social stock exchanges
Markets regulator Sebi's board on Tuesday approved a slew of reforms, including frameworks for gold and social stock exchanges. Besides, the regulator has decided to relax eligibility requirements related to shares having superior voting rights, Sebi Chairman Ajay Tyagi said in a press conference after the board meeting.Sebi board clears frameworks for gold, social stock exchanges
FPI bodies ask Sebi to postpone shift to T+1
Sebi wants to shift to T+1, with settlement of trade on the next day, from T+2 now. It has said that exchanges have the option to switch to this system from January 1 next year for select stocks. Investors who buy shares from the Indian equity market currently get delivery two days from the date of trade.
Sebi board okays steps to make M&As easier
The regulator said that if an acquirer wants to delist the target company, then it must propose a higher price for this with a suitable premium over the open offer price. If the response to the open offer leads to the delisting threshold of 90% being met, all shareholders who tender their shares should be paid the same delisting price.
Sebi confirms ban on 5 persons in Zee insider trading case
The regulator said a detailed investigation in the matter is in progress which may bring out additional roles of omission or commission, of these five persons, if any, in detail.
Sebi levies fine on Titan's employee for disclosure lapses
The regulator had received a letter from Titan wherein the company intimated about violation of Prevention of Insider Trading (PIT) regulations and the company's code of conduct for the prevention of insider trading by some of its designated persons/employees.
Sebi has proposed T+1 settlement cycle from January 1
Sebi has proposed a ‘Trade-plus-one’ (T+1) settlement cycle from January 1, where the trades will get settled the day after the transaction. Initially, exchanges can pick the stocks where they want to offer the next-day settlement.
Sebi board to discuss M&A norms, gold exchanges
The board of the Securities and Exchange Board of India (Sebi) is set to approve several investor-friendly measures when it meets on September 28.
Sebi tweaks norms for REITs, InvITs on exit option for dissenting unit holders
The exit option for dissenting unit holders would be available in case of an acquisition, change in sponsor, inducted sponsor or change in control of sponsor or inducted sponsor is triggered pursuant to an open offer.
Sebi revises financial info filing formats for entities having listed non-convertible securities
In September, the regulator had notified corporate governance rules for listed entities which have listed their debt securities.
No ‘in-house’ trustees for PE, VCs, moots Sebi
The Indian capital market regulator wants private equity and venture capital funds, which have emerged as significant institutional investors in recent years, to have independent trustees having no connection with the sponsor and manager of the funds.
SEBI introduces swing pricing in debt mutual funds
Swing pricing is a mechanism by which fund houses can adjust a scheme’s net asset value (NAV) in response to the flows into or out of the fund. It is aimed at reducing the impact of large redemptions on existing investors by reducing dilution of the value of a fund’s units.
Sebi slaps Rs 1.02 cr fine on Aditya Birla Money for mkt norms violation
Proceedings were initiated against Aditya Birla Money based on a joint inspection conducted by Sebi, BSE, NSE and the depositories in March 2019. A special purpose inspection was also conducted by Sebi in March 2018.
Sebi sends show-cause notices to 141 staff of Titan alleging violations
The Securities and Exchange Board of India (Sebi) has issued show-cause notices to 141 employees of Titan, India's largest watch and jewellery retailer, alleging violation of insider trading rules, said a person with knowledge of the matter.
Another Infosys employee banned by Sebi over insider trading
The capital market regulator’s investigation found that Ramit Chaudhri had access to the unpublished price-sensitive information regarding the Vanguard deal.
Sebi bars Abhijit Pawar over insider trading allegations
India's capital-markets regulator has barred Abhijit Pawar, nephew of Nationalist Congress Party chief Sharad Pawar, from dealing in securities for an alleged breach of insider-trading rules involving the stock of the erstwhile Magma Fincorp.
Sebi fines 8 entities for fraudulent trade in Videocon shares
These are facing a fine of Rs 16 lakh, payable jointly and severally, for violation of Prohibition of Fraudulent and Unfair Trade Practices norms.
Sebi to auction properties of Royal Twinkle, Citrus Check Inns on Sep 25
In a notice on Monday, the Securities and Exchange Board of India (Sebi) said it will auction as many as 97 properties of the companies on September 25 at a reserve price of more than Rs 350 crore.
Sebi asks PE, VCs for info on special pacts
The capital market regulator wants to know all deals that private equity (PE) and venture capital (VC) funds have separately cut in the past two years with larger investors picked from inside and outside the fund pool.
Sebi takes stock of surge in options trades
Worried about the increased shift in trading activity from cash market to options, the Securities and Exchange Board of India (Sebi) has asked bourses and brokers to boost investor awareness, especially among the new entrants, about the risks of such
Sebi paves way for launch of gold exchange, approves framework
The board approved the Gold Exchange and SEBI Vault Managers Regulations, 2021 that allow bourses to set up a gold exchange in India.
Videocon case: Sebi slaps Rs 75 lakh fine on Venugopal Dhoot, two entities
"Noticees being insiders had executed off market transactions while in possession of Unpublished Price Sensitive Information (UPSI)," Sebi said.
Sebi unlikely to drop T+1 plan despite FPI pressure
Sebi issued a circular on Tuesday allowing stock exchanges to offer select scrips under shortened T+1 settlement from January 1 next year.
It’s Sebi vs FPIs, brokers on T+1
Under the current system of T+2 settlement, a buyer gets the shares that he bought in his demat account on the third working day, including the day of trade. Similarly, the seller receives the money for shares sold on the third working day. Under the proposed T+1 settlement cycle, the shares and money will come to the investor’s account the next working day.
Sebi okays blockchain technology for NCDs
To make the record-keeping process related to securities traded in the market more secure, Sebi on Wednesday asked depositories to use distributed ledger technology — popularly called blockchain technology — to record and monitor credit ratings of non-convertible debentures (NCDs)
PNB Housing deal: Sebi moves SC
Sebi is pushing the housing finance firm to relook at a deal to sell a Rs 4,000-crore stake to private equity investors led by Carlyle on the grounds that valuation norms have not been followed.
Sebi to beef up surveillance on the smart insider
The Securities and Exchange Board of India (Sebi) is revamping its surveillance systems as insider trading gets more sophisticated. Earlier, company insiders or their proxies would buy and sell shares based on insider tips.
Sebi empanels 16 entities to conduct forensic audit
In recent months, Sebi has ordered a forensic audit of certain companies.
Coffee Day Ent settles case with Sebi, pays Rs 69 lakh
On January 21, 2021, Sebi issued a show-cause notice to the company alleging various disclosure-related violations.
Sebi comes out with modalities for accredited investors
Sebi had earlier this month introduced the concept of "accredited investors" in the Indian securities market.
Sebi drops certain disclosure requirements for promoters upon share acquisition
The amendment will be effective from April 1, 2022, the regulator said in a notification, dated August 13.
Sebi gives bourses option to rollout T+1 settlement for stocks
The new rule will come into effect from January 1, 2022, the capital market regulator said in a circular issued today.
Zostel plans to take Oyo IPO complaint to Sebi
Zostel is planning to move the Securities and Exchange Board of India (Sebi), asking it to put the proposed $1.2 billion IPO on hold, said two people with direct knowledge of the matter.
IL&FS moves SC against show-cause notice by Sebi
The case has been admitted by the apex court and a two-member bench comprising Justices Vineet Saran and Dinesh Maheshwari will be hearing it. The matter has been tagged along with another appeal by IL&FS Securities Services where the contention is the same – Sebi has passed orders against entities under the IBC.
Sebi drops adjudication proceedings against RIL in alleged incorrect financial disclosures matter
Sebi decided not to impose any penalty for the alleged violations mainly on two grounds, including that the amendment to the relevant law that made incorrect disclosure of information by a listed company punishable came into force prospectively from March 2019.
Use blockchain to monitor security creation: Sebi to depositories
It offers better protection against different types of cyber-attacks because of its distributed nature, which removes the single point of attack, Sebi said in a statement.
Sebi mulls carving out separate AIF category to buy distressed loans from banks
Pointing out the growing number of AIFs, Sebi Chairperson Ajay Tyagi said on Thursday that the last financial year saw 90 new AIFs getting registered with the regulator under different categories, taking the total number to more than 700.
T+1 trade settlement may prompt outflow of some foreign funds from India
The plan, once implemented could push foreign investors, who account for about a fifth of the India’s market capitalization, to not only upgrade their custodial arrangements but also spend more on foreign exchange charges and other costs.
Sebi asks investors to link PAN with Aadhaar by Sept end for smooth transactions
Failing to comply with this, a person's Permanent Account Number (PAN) card will become inoperative, which means incomplete Know Your Customer (KYC) details.
Sebi board gives in-principle nod for shifting to concept of “controlling shareholders”
Earlier this year, the regulator had issued a consultation paper for public discussion on the issue of doing away with the concept of family owners in the face of new-age companies that are not backed by business families.
Sebi probed 94 new cases for flouting securities law in FY21
Sebi said 43.6 per cent of the total cases taken up for investigation during 2020-21 were related to market manipulation and price rigging.
Zerodha gets Sebi’s in-principle approval for starting AMC operations
"So, we just got our in-principle approval for our AMC (MF) license. I guess now comes the hard part," Kamath said in a tweet on the microblogging website Twitter.
Sebi extends deadline for investment advisers to obtain BASL membership
"Existing IAs who fail to seek membership of BASL within the aforesaid timeline shall be liable for appropriate action including suspension or cancellation of certificate of registration of such IAs," Sebi said.
Sebi introduces accredited investors concept in Indian securities market
Individuals, HUFs, family trusts, sole proprietorships, partnership firms, trusts and body corporates can get accreditation based on financial parameters specified by the regulator, according to a notification dated August 3.
Explained: What will new Sebi margin rules mean for intraday traders
In 2020, Sebi introduced the new margin rules for day traders under which stock brokers were now mandated to collect minimum margins on leverage-based trade upfront as against the earlier practice of collecting it at the end of the day.
Yes Bank, 6 others settle case with Sebi for Rs 1.65 crore
Yes Bank and six individuals have settled a case with the Securities and Exchange Board of India(Sebi) by paying ₹1.65 crore as settlement amount.
Sebi's refund to Sahara investors inches up to Rs 129 crore
In its previous update, Sebi had put the total amount refunded by it as of March 31, 2020 at Rs 115.2 crore (concerning 15,140 applications). The number of disputed cases at that time was much higher at 229, while the count of closed cases was lower at 1,688.
Sebi to spend big on AI, ML to boost surveillance, investigation capability
“In the forthcoming years, Sebi will be implementing major information technology (IT) projects, which are critical to its day-to-day operations and its mandate,” the capital market regulator said in its annual report for 2020-21.
Shareholder activism puts focus on governance in companies
With governance in sharp focus at India Inc, corporate boards and top management may find it tougher to push their agenda if not aligned with wider interests of all shareholders. Empowered investors are increasingly voicing concerns on a spate of controversial issues, ranging from compensation, appointments and related party transactions, ending the era when AGMs were considered just a regulatory tick-box item, and most resolutions sailed through.
Sebi releases revised risk management framework for MFs
Sebi has come out with roles and responsibilities of board of AMC and trustees, chief executive officer (CEO), chief risk officer (CRO), chief investment officer (CIO), role of other CXOs and fund manager.
Sebi slaps Rs 6 lakh fine on Capital First for disclosure lapses
In its order, Sebi found that Capital First did not make requisite disclosures about the encumbrances on shares of DCHL held by them to the stock exchanges and DCHL.
Zerodha gets Sebi's approval to set up an AMC
The in-principle approval from Sebi will allow the Bengaluru-based startup to launch its own mutual funds, founder and chief executive Nithin Kamath tweeted on Wednesday. Zerodha is India’s largest retail broker by registered users.
T+1 settlements, tighter margins will make markets safer: Ajay Tyagi
Earlier this month, Sebi had proposed to introduce a ‘Trade-plus-one’ (T+1) settlement cycle from January 1, where the trades will get settled the day after the transaction. Initially, exchanges can pick the stocks where they want to offer the next-day settlement.
Sebi eases operational procedure to make fee payments
The intermediaries can also generate an e-challan, which can be shared with the companies or entities for making the required payment.
Sebi asks investors to link PAN with Aadhaar by Sept 30
The development comes after the tax department asked all the PAN holders to link it with Aadhaar by September 30, 2021, failure to do so would lead to deactivation of the PAN.
BPCL Privatisation: SEBI unlikely to exempt open offers for Petronet, IGL
BPCL holds 12.5 per cent of the shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL.
Sebi gives more time to brokers, clearing members to comply with certain rules
The watchdog has also given time till December 31 to brokers for operating the trading terminals from designated alternate locations.
Sebi penalises six individuals for violating insider trading rules in Titan case
In six separate orders, Sebi said these individuals were employees or designated persons of Titan at the time of the violation.
Florintree backed Data Patterns files for IPO with Sebi
According to the draft papers, the Chennai-based company is expected to raise Rs 600-700 crore through its initial public offering (IPO).
Sebi bans pooling of money, mutual fund units by online platforms
Likewise, units should also be directly credited into the investors account without any intermediate pooling. For redemption, funds should be directly credited to investors’ bank account from the mutual fund scheme, the regulator said.
Vijay Kirloskar writes to Sebi on ‘misleading’ claims by nephews
The Kirloskar family feud has worsened further with Bengaluru-based Vijay Kirloskar, chairman of Kirloskar Electric Company (KECL), filing a complaint with Sebi seeking action against four companies run by his nephews — Rahul and Atul Kirloskar — for alleged
Abans Holdings files IPO papers with Sebi
The initial share-sale comprises fresh issuance of equity shares of up to 38 lakh and an offer for sale of up to 90 lakh equity shares by promoter Abhishek Bansal, according to the draft red herring prospectus (DRHP).
Sebi proposes changes to fixing IPO price bands and shares allocation rules
The regulator intends to introduce a minimum price band in all public issues, where the upper price should be at least 5 per cent more than the floor price.
Sebi amends rules to empower independent directors
Under the new rules, appointment, re-appointment and removal of independent directors in a listed company will be done through a special resolution of shareholders. In the special resolution, the number of votes in favour of the resolution should be at least three times those against the resolution.
Sebi to auction properties of Vibgyor, MPS Group of cos, Pailan Group of cos on Oct 4
In a notice on Saturday, Sebi said it will auction 13 properties of MPS Group of companies, three properties of Vibgyor Allied Infrastructure, and two properties of Pallan Group of companies at a reserve price totaling over Rs 62 crore.
Sebi gives more time to top 100 listed cos to hold AGM
Such listed entities will hold their AGM within six months from the date of closing of the financial year for 2020-21, the Securities and Exchange Board of India (Sebi) said in a circular.
Reforms in pipeline to deepen bond market: Sebi chief
The other major reform in the pipeline is setting up of a Limited Purpose Clearing Corporation for repo in corporate bonds, Tyagi said at an event organised by industry body CII.
Fraudulent trading: Sebi confirms directions against former CNBC Awaaz anchor, his family members
In an order passed late on Thursday, Sebi said the findings in the order are "prima facie" and that a detailed investigation in the matter is in progress.
Sebi allows payments banks to act as investment bankers
Non-scheduled payments banks, which have prior approval from the Reserve Bank of India (RBI), will be eligible to act as a banker to an issue (BTI), Sebi said in a circular.
Sebi moves SC against SAT order on PNB Housing Fin's Rs 4,000 cr preference issue
Pronouncing its order on August 9, the two-member bench of the Securities Appellate Tribunal (SAT) gave a split verdict, saying there was difference of opinion between the members of the bench.
TCS, Wipro among 5 cos shortlisted for implementation of data analytics projects: Sebi
The regulator, in June, had invited expression of interest (EoI) from "reputed and reliable solution providers for implementation of data analytics project and building of data models at Sebi".
Sebi orders defreezing of bank, demat accounts, MF folios of Rana Kapoor
The regulator, in March, had attached bank accounts, share and mutual fund holdings of Kapoor to recover dues of over Rs 1 crore. The decision was taken after Kapoor failed to pay the fine imposed on him.
Companies to disclose resignation letters of independent directors: Sebi
The market regulator said that the appointment and removal of independent directors will now take effect through a special resolution of shareholders for all listed entities.
Global custodians seek more time for trade confirmations
Global custodians, handling over 70% of the trades by foreign portfolio investors (FPIs), have proposed a way to overcome concerns that the planned T-plus-one (T+1) settlement in the stock market, and the tighter deadline it imposes, could sharply increase the number of 'failed
Sebi slaps Rs 40 lakh fine on 8 entities in illiquid stock options case
In eight separate orders, the regulator levied a fine of Rs 5 lakh each on Nikita Rungta, Aakash Prakash Shah, Abha Mohunta, Aachman Vanijya, Abhi Portfolio, A C Agarwal Commodities, Vinay Ramanlal Shah HUF and Vinodkumar M Jain.
Medanta brand-owner Global Health files IPO papers with Sebi
Founded by Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care providers in the north and east regions of India.
Sebi extends KYC deadline for demat, trading accounts to December 31, 2021
The original deadline was July 31, 2021, which was extended to September 30, 2021, due to the Covid-19 pandemic. This is the second time that the deadline has been extended.
PNBHF-Sebi Case: SAT gives split verdict
The Securities Appellate Tribunal on Monday gave a split verdict on PNB Housing Finance’s petition, which challenged the market regulator’s stay on the mortgage lender’s proposal for a preferential issue of shares to private equity funds.
NSE co-location case: Sebi slaps Rs 6 lakh fine on Parwati Capital Market
Sebi had received multiple complaints pertaining to alleged malpractices with respect to the co-location facility being provided by the National Stock Exchange of India Ltd (NSE).
Sebi to tweak fit and proper criteria; to introduce silver ETFs
In addition, the board of Sebi approved an amendment to mutual fund rules to enable the introduction of silver ETFs with certain safeguards in line with the existing regulatory mechanism for gold ETFs.
Sebi okays e-gold receipt trades, allows silver ETFs
The board of markets regulator Sebi on Tuesday gave its nod to start a gold trading platform on which the yellow metal could be traded in electronic form, called electronic gold receipts (EGRs), which could also be exchanged for physical gold by its holders.
Sebi sets up panel to bring in T+1 settlement, address concerns
The panel will look into the operational issues that had forced the regulator to put the proposal on the back-burner. While domestic brokers are concerned over the continued hitches in the Pay-in process – a system where brokers deliver sold shares to the clearing corporation on their clients’ behalf, foreign investors have opposed the shorter settlement cycle because it would mean blocking funds in their Indian bank accounts in advance.
Sebi bars 15 entities and individuals in ZEEL insider trading case
The regulator has also impounded the alleged ill-gotten gains of Rs 23.84 crores from these entities and individuals.
Sebi's new peak margin rules from Sept 1: How it affects traders
Traders taking bets on futures and options (F&O) markets will have to shell out higher margin money making these trades more expensive. Essentially, they are required to cough up 100 per cent of margin upfront under the new peak margin norms.
Action will be taken if there are violations, says Sebi chief; declines to comment on Zee matter
Zee is witnessing a battle between its largest shareholder Invesco Developing Markets Fund and the original promoters. Invesco wants to remove Punit Goenka, Zee's long time chief executive and managing director, in an Extraordinary General Meeting (EGM).
Stent maker Sahajanand Medical Tech files IPO papers with Sebi
The company may consider a pre-IPO placement of equity shares aggregating up to Rs 185 crore. If such placement is undertaken, the fresh issue size will be reduced.
No irrational exuberance in market, says Sebi chief
Sebi chairman Ajay Tyagi on Wednesday said there was no over-exuberance in the stock market and the current rally was being driven by easy availability of funds and record-low interest rate globally.