Regulations
SEBI asks investors not to invest in 221 dubious companies
Market regulator Securities and Exchange Board of India (SEBI) has once again warned investor not to get lured to any investment schemes offered by 221 companies, including Sahara India Real Estate Corporation Ltd, Sahara Housing Investment Corporation Ltd, SGI Research & Analysis Ltd, Ramel Industries Ltd, among others.
 
In a release, SEBI said as on 15 December 2015, it has taken action against these 221 entities for issuance of securities in the form of non-convertible and convertible preference shares, non-convertible and convertible debentures or equity shares to investors, without complying with the prescribed provisions of law.
 
The market regulator said it has passed orders against these companies and individuals, who have acted as debenture trustees for debt issuance of companies without being registered with SEBI as Debenture Trustee as per SEBI Act, 1992. The companies are also warned not to collect money from investors, SEBI said.
 
Advising investors to see whether any such entity has filed offer document or filed application with Stock Exchange for listing, SEBI said investors should not subscribe to such issues that fails to show in the evidence.
 
Here is the list of companies against whom SEBI had passed orders...
 

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COMMENTS

Nikhil S Girme

11 months ago

Post Mortem...Instead of circulating this by SEBI now if they had taken some preventive measures initially itself or had created a nationwide compaign on TV, Radio, Media to think before investing in such type of companies it would have been far far better.Now issue remains that after this ban what about general public whose money is stuck in these companies..This is where SEBI should be proactive rather than only banning such thickskinned promtoers of such dubious companies..SEBI has to do much much more than what is being done today.Article mentions in case of Secured Debentures action has been taken against Non registered trustees ...I would like to know why SEBI is not acting on IDBI Trusteeship Services Ltd who is a SEBI registered trustee and who was trustee of barred Neesa Technologies LTd NCD issue.Why doesnt SEBI take action on bigger so called track record walle Trustees who had vetted the NTL NCD issue.We have already complained to SEBI on subject matter but no response as of now

Suman Mondal

11 months ago

Struck my mind,most of this companies are from West Bengal atleast what I can find from the list presented.Bengal society has collapsed in total there is nothing like value,moral ,ethics within bengali now all about cheating other.Hard to think how Bengal has changed .shame.

Suvendu Rath

11 months ago

Strange, if the apex body thinks these are dubious companies why not ban in first place!

Nifty, Sensex in no man’s land as we enter 2016
Nifty has to stay above 7850 for the uptrend to continue
 
We had mentioned in previous week’s closing report that benchmarks Nifty and S&P BSE Sensex may remain listless; however if Nifty manages to close above 7,900 it may result in the index moving higher. On Monday itself, the 50-stock index broke this level and for three of the four trading sessions during this week, managed to close above the level. This is the third consecutive week for the NSE benchmark to close in the positive. Market now awaits the third-quarter earnings.  The trends of the indices over the week’s trading are given in the table below:
 
On Monday, for the fifth consecutive session, Nifty managed hitting a higher high and closed near to the day’s high. Nifty closed at 7,925.15 (up 0.82% or 64.10 points). Among the major movers that day, SMS Pharma, the top gainer of S&P BSE Healthcare, rose 7.32% to close the day at Rs132. SMS Pharma received approval from the US FDA for manufacturing facility (unit 7) located at Kandivalasa village in Andhra Pradesh. Tata Steel was the top loser in the Sensex 30 pack, S&P BSE 100 and CNX Nifty 50 stock.
 
On Monday, we anticipated Nifty to show strength next day. The 50-stock index closed Tuesday flat at 7,928.95 (up 0.05% or 3.80 points). On Wednesday, the sideways move on the Nifty continued for most of the trading session. It finally closed in the red, thus wiping off the nearly half of the gains of past two trading sessions. Nifty closed Wednesday at 7,896.25 (down 0.41%, 32.70 points). Unwinding of long positions ahead of the derivatives expiry, coupled with profit bookings, subdued Indian equity markets on Wednesday.
 
On Wednesday, we mentioned that a close below 7,850 on Nifty mean that the uptrend since 15th December was over for now. On Thursday, the flat opening on the index was followed by Nifty trying to move higher. After taking support at Wednesday’s close, the benchmark finally managed to regain strength after 1pm. Nifty closed near to the day’s high at 7,946.35 (up 0.63%, 50.10 points). The index moved higher on huge volume of 105.18 crore on the NSE due to expiry of the futures and options (F&O) for December. SpiceJet Ltd rose 3.44% to Rs75.25. It was in news as the company said it has received its shareholders’ approval to raise funds worth up to Rs5,000 crore through various instruments. The company is likely to use this fund to expand its fleet. Currently, the company has some 41 planes in its fleet, including 25 Boeing 737s, 14 Bombardier Q400s and two leased Airbus 320 family. Cadila Healthcare, top loser in S&P BSE 200, fell 14.89% to Rs327.80 after the company said in a notice to BSE that it received warning letter from the US FDA for its Moraiya formulation facility and Ahmedabad API facility.

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Fiscal deficit in eight months touches 87 percent, likely to overshoot target
New Delhi : The country's fiscal deficit has touched 87 percent of the budgeted amount, showing a worrying trend in government expenditure which is likely to overshoot what has been approved by parliament.
 
The total fiscal deficit till November-end for the 2015 was Rs. 4.84 lakh crore compared to the budgeted amount of Rs.5.55 lakh crore for the full year, with four months still to go, according to the details released by the Controller General of Accounts. 
 
Total receipts for the eight months were Rs.6.58 lakh crore or 53.9 per cent of the full year budgeted figure of Rs.12.2 lakh crore compared to expenditure of Rs.11.4 lakh crore till November, putting pressure on government borrowings. The full year expenditure has been budgeted at Rs.17.77 lakh crore.
 
Fiscal deficit is the amount of money that the central government raises through borrowings to meet the gap between receipts and expenditure.
 
Of the financing through borrowings, the government has already reached 88 percent of the money that has been budgeted to be raised through domestic sources at Rs.4.80 lakh crore. 
 
Roughly speaking, in eight months to November 2015, the fiscal deficit should have been around two-thirds of the budgeted amount. With it touching more than four-fifths of the benchmark, the chances of the fiscal deficit for the whole fiscal year overshooting its target of 3.9 per cent of the gross domestic product are very high. This should ring some alarm bells in the finance ministry.
 

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