Agreement to acquire: Should it trigger an open offer requirement or not?
November 16, 2017In a significant decision, SEBI has taken a stand that agreement to acquire will not trigger an obligation to make open offer, if the acquisition of shares or voting rights has not happened pursuant to the agreement. This appears to be against SEBI’s own regulations and judicial precedents.
Read MoreIndia Inc earnings leak on WhatsApp before going official; take investors by surprise
November 16, 2017Three days before Dr. Reddy’s Laboratories Ltd announced quarterly results this summer, a message circulated on a private WhatsApp group saying the Indian drugmaker would not post good numbers.
Read MoreSpiceJet's Ajay Singh pays Rs 2 lakh to settle case with Sebi
April 10, 2017The Securities and Exchange Board of India (Sebi) has settled a case against SpiceJet promoter Ajay Singh in the matter related to the alleged disclosure lapses in the acquisition of the equity shares by paying around Rs 2 lakh. On January 15
Read MoreSEBI throws another Googly on Insider Trading
April 6, 2017SEBI has released yet another Informal Guidance made public today, which is bound to have far reaching consequences as far as interpretation of the PIT Regulation is concerned.
Read MoreSEBI reviews rules for removal of firms’ independent directors
January 21, 2017The ongoing boardroom tussle in the Tata Group has compelled the Securities and Exchange Board of India (SEBI) to review the norms for removal of independent directors in listed companies.At the SEBI board meet held on January 14
Read MoreTata Sons-Cyrus Mistry spat: How battle lines are drawn for legal showdown
December 28, 2016As India’s biggest corporate showdown heads from the boardroom to the courtroom and brings in a Who’s Who of the country’s legal profession, ousted Tata Sons chairman Cyrus Mistry vows a multi-layered battle for governance reforms at the $100 billion conglomerate
Read MoreSEBI to revise rules to reinstate discretionary power on penalties
March 29, 2016India’s capital market regulator may soon frame rules allowing it to levy monetary penalties for rule violations in proportion to the net worth of companies that, in the past, have been slapped with large fines they couldn’t afford to pay.
Read MoreSupreme Court questions own penalty ruling
March 23, 2016In an order dated March 14 in the matter of Siddharth Chaturvedi versus Sebi, a two-member SC bench has referred the matter to a larger SC bench. The bench questioned whether penalties be solely decided based on the three clauses set out in Section 15J, or whether other relevant circumstances ought to be taken into account.
Read MoreSahara chief Subrata Roy to be produced in Mumbai court in Sebi case
March 16, 2016Sahara chief Subrata Roy will step out of Tihar jail for the first time in two years in the first week of April. A sessions court in Mumbai has issued a production warrant against Roy and directors of two unlisted group firms for allegedly violating orders of the Securities and Exchange Board of India (Sebi).
Read MoreNSE Bypasses SEBI, writes to finance ministry on listing stand-off
February 1, 2016The National Stock Exchange of India (NSE) Ltd has written to the finance ministry, bypassing the capital markets regulator, raising concerns over the norms for listing of exchanges, according to two people familiar with the development. The letter also dwells on the issue of foreign shareholding in exchanges, they said, requesting anonymity.
Read MoreSebi mulls collective issue of orders, not via a single officer
December 25, 2015In a bid to improve accountability and ensure every order is looked upon as a regulatory action, the Securities and Exchange Board of India (Sebi) might get its orders passed by a panel.
Read MoreSEBI issues show-cause notice to RBL bank
December 7, 2015The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to RBL Bank over possible rule violations, which could hinder the 72-year-old lender’s plans to raise an estimated Rs 1,450 crore though an initial public offering (IPO).
Read MoreExit offer if 10% investors dissent
December 1, 2015Capital market regulator Securities and Exchange Board of India (Sebi) has proposed a framework for exit offers for dissenting shareholders. In a discussion paper, it has said promoters will have to return money to investors if at least 10 per cent of shareholders dissent to change in objectives stated in the offer document or prospectus filed during fund-raising.
Read MoreSEBI-FMC: The First Merger of Regulators in India
October 1, 2015The Finance Minister, Mr. Arun Jaitley, had announced in his budget speech in February this year that the Forward Market Commission (FMC) will be merged with the Securities Exchange Board of India (SEBI) to reduce wild speculation and strengthen the commodities market. The merger of FMC and SEBI came into effect on the September 28. On that day, the Finance Minister said that the amalgamation of FMC and SEBI would bring convergence of
Read MoreSAT rules in favour of DLF; slams Sebi for 'miscarriage of justice
March 14, 2015The Securities Appellate Tribunal (SAT) quashed the regulator’s order banning real estate firm DLF, its promoters and key executives from raising money in the capital market, terming the company’s infractions as “insignificant”.
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