Photo: The Indian Express
Promoters Subhash Chandra And Son, Punit Barred From Holding Key Roles
The Securities and Exchange Board of India (SEBI) found promoters of Zee Entertainment Enterprises Ltd Subhash Chandra and son Punit Barred, prima facie guilty of diverting funds from the listed company for personal use. This order is a major setback for Zee Entertainment as it is seeking regulatory approvals for a merger with Sony Pictures Networks India. Although the restricted orders are interim and can be challenged.
Tags: ZEE ENTERTAINMENT, SEBI
Courtesy: LiveMint
Photo: India Today
Relief For Adani As Ex SC Panel Ruled Out Any Irregularity
In a major relief for Adani Groups, the former Supreme Court judge panel said there is no regulation in market. In the recent development after the Hindenburg report, the SC asked the Security Exchange Board of India (SEBI) to complete the investigation and submit a report. The ex-SC panel also said there was evidence of a build-up in short positions on Adani Group stocks ahead of the US report.
Tags: Adani Group, US Report, Ex SC Panel, Indian Judiciary, business, SEBI
Courtesy: Rediff.com
Photo: Business Standard
SC Grants Extension To SEBI To Investigate Adani Groups Issue
In the Adani Group case, the Supreme Court issued a notice to the Securities and Exchange Board of India (SEBI) and asked to complete the probe by August 14. The bench headed by Chief Justice D Y Chandrachud also directed the SEBI to file an updated status report on the investigation regarding Adani Groups' role in stock fluctuation and submit a report. The next hearing is on July 11.
Tags: Supreme Court, Extension, SEBI, Adani Groups, DY Chandrachud
Courtesy: The Press Trust of India
Photo: India Today
Adani Group Investigation Since 2016, SEBI Submits Affidavit
The Securities and Exchange Board of India (SEBI) filed a response to the Adani Groups' investigation. Market regulator SEBI told the Supreme Court today that allegations that it has been investigating the Adani Group since 2016 are "factually baseless". It also cautioned against "premature and wrong conclusions" in the case. SEBI also cautioned against a "premature conclusion" of the case, justifying its request for a six-month extension.… read-more
Tags: Legal Process, SEBI, business, Adani Groups, Indian government
Courtesy: NDTV
Photo: The Hans India
Hundi Collection On Hold, Union Ministry Issues Order To TTD
With its registration under the FCRA (Foreign Contribution Regulation Act) under “suspension” for the past three years, the country’s richest religious Trust, the Tirumala Tirupati Devasthanam (TTD), faces an unprecedented situation. The Union Ministry FRCA wrote to the TTD, asking them to not make any foreign contributions, described as 'Hundi' donations.
Tags: TTD, Hundi Donations, SEBI, union ministry, Notice Issued
Courtesy: The Indian Express
Photo: First Post
Adani Groups Speak About Independent Audit Hiring News, Says Its Market Rumour
The Adani Group finally spoke about the news of hiring a US Firm for independent audit, amid Hindenburg claims.On February 16, company said, "We would like to clarify the said news item appears to be a market rumour and hence it would be inappropriate on our part to comment on it… We wish to confirm we have made and will continue to make disclosures in compliance with obligations under SEBI
Tags: Adani Groups, Hindenburg Report, Independent Audit, TAXES, SEBI
Courtesy: Hindustan Times
Photo: Facebook
SEBI Hikes Interest Rates, EMIs, Loans To Be Expensive
The country's largest public sector lender, the State Bank of India (SEBI) has increased the repo & reverse repo rate, making loans expensive for customers. The loan rate with a hike of 50 basis point, after the announcement of the RBI's new repo rate by 0.5% to take it to 5.90%, which came into effect from October 1, making EMIs to get costlier across all loan categories, including home loans.
Tags: SEBI, business, Expensive Loan, RBI, interest rate
Courtesy: NDTV
Photo: Business Standard
SEBI Imposes Fine Of Rs 3 Lakh On BSE Amid Irregularities
The market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs 3 lakh on BSE for engaging in activities unrelated to a stock exchange. “This is to inform that pursuant to Regulation 30 read with Schedule Ill of SEBI Regulations, 2015, we intimate that SEBI has passed an order, imposing a penalty of Rs. 3 lakhs on BSE Limited." said SEBI in a statement.
Tags: SEBI, BSE, penalty, Irregularities, Indian government
Courtesy: Business Today
Photo: News18
Centre Tweaks FEMA To Permit 20% FDI In LIC
The Central Government has tweaked the Foreign Exchange Management Act (FEMA) rules to allow as much as 20% foreign direct investment (FDI) in the LIC. The government is mulling over plans to dilute its stake in the insurance company via the Initial Public Offering (IPO). Earlier in February this year, the LIC had filed the Draft Red Herring Prospectus (DRHP) before the Sebi for the Initial Public Offering.
Tags: Economy, LIC, IPO, SEBI, business
Courtesy: Zee News
Photo: The New Indian Express
SEBI Provides Market Approval For IPO To LIC India
Life Insurance Corporation Of India (LIC) finally gets their Initial Public Offer (IPO) approval from the Securities and Exchange Board of India (SEBI). This is fastest market approval given for IPO, in just 22 days, after the filing of the IPO draft by LIC. With this, LIC is going to put forward 31.62 crore equity shares under offer for sale (OFS) holding 5% of LIC equity shares.
Tags: LIC, Market regulator, SEBI, Life insurance, Life Insurance Corporation
Courtesy: ANI
