Regulations
SEBI shortlists 13 agencies for media campaign job

The agency would be roped in to assist SEBI in its campaign aimed at educating and creating awareness among retail investors and converting the current savers into investors

 
New Delhi: Market regulator Securities and Exchange Board of India (SEBI) has shortlisted 13 agencies in its search for an advertising agency to plan and execute its media campaign in newspapers, magazines, television and radio channels, reports PTI.
 
SEBI, which regulates stocks, mutual funds, brokerage and various other segments of capital market, had invited Expression of Interest (EoI) from various agencies in April this year.
 
After going through the EoIs submitted to it, SEBI has now shortlisted 13 agencies, out of which it would select one entity for providing various media services.
 
The short-listed media agencies include Alaknanda Advertising, Allied Media Network, Carat Media Service, Crayons Advertising Ltd, Dentsu Communications, Inter Publicity, Lintas Media Group, Lodestar, Prachar Communications, Purnima Advertising Agency, RK Swamy BBDO, Span Communications and Zenith Optimedia.
 
The agency would be roped in to assist SEBI in its Investor Education and Awareness Campaign, which is aimed at educating and creating awareness among retail investors and converting the current savers into investors.
 
The selected media agency would be required to suggest appropriate media plan to the regulator to meet the objectives of its advertisements.
 
Besides, the agency would also publish/broadcast the advertisements in newspapers, magazines, TV channels and radio channels, as also collect the copies of the published advertisements and submit the same to SEBI.
 
The advertisement material will be provided by SEBI and the rates would not exceed that of the government's advertisement agency DAVP.
 
The agency would be required to handle advertisement campaign in TV channels, FM radio, newspapers, magazines and outdoor media and should not have been found guilty or penalised by any court during the last three years.
 
It should have been in existence in India since April 2008 with ability to service the client through their office in Mumbai and should be accredited to the Indian Newspaper Society (INS), Advertising Standards Council of India (ASCI) or Advertising Agencies Association of India (AAAI).
 

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COMMENTS

Suresh Bhura

4 years ago

Congratulations team Crayons.

Black money: I-T to press money laundering charges in HSBC case

The Income Tax (I-T) department has found that illegal funds were laundered in many cases which can be categorised as criminal proceeds of crime

 
New Delhi: The Income Tax (I-T) department has decided to include the offence of money laundering in its soon to be filed charge sheet against individuals named in the classified HSBC list for stashing illegal funds, reports PTI.
 
The department, in its probe till now, has found that the illegal funds were laundered in many cases which can be categorised as "criminal proceeds of crime".
 
The I-T, according to sources, may have to coordinate its prosecution action in this case with the Enforcement Directorate which is the designated enforcement agency for the Prevention of Money Laundering Act (PMLA) in the country.
 
The stringent and criminal provisions of the PMLA can ensure attachment of properties of the accused and handing down of strict punishment by courts.
 
The I-T is also particularly wary about the recent disclosure made by a US Senate panel that had accused HSBC of exposing the American and Indian financial systems to various terror financing, money laundering and drug trafficking activities due to its poor risk control systems.
 
"The disclosures that have come recently in the US corroborate what tax department investigations in this case indicate. Money laundering charges would be pressed against individuals," the top sources in Indian Finance Ministry said.
 
Various probe units of the I-T department, according to the sources, has informed the Central Board of Direct Taxes (CBDT) and top echelons of the Finance Ministry about these developments.
 
Meanwhile, the department is set to file prosecution cases in designated courts and the first complaints are expected to be filed in Delhi and Mumbai with regard to people figuring on the banks' list.
 
In an official statement earlier this week, the Finance Ministry had said that the Income Tax department has begun assessment proceedings in "cases related to HSBC accounts".
 
The department, according to the sources, has prepared a sound case after learning from the experiences of the LGT Bank accounts cases which is already under prosecution.
 
India has reportedly obtained data of over 700 HSBC accounts from French government channels.
 
In 80 cases till now, the department has detected undisclosed income of Rs438 crore and taxes of Rs135 crore have been realised so far.
 

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COMMENTS

MK Gupta

4 years ago

HSBC need not bother as the prosecution will never end and shall go on and on with many of our most brilliant lawyers taking care to see that such is the case. Moreover, how can the IT Deptt proceed without first making an assessment order within a (most ludicrously short) time limit AFTER MAKING ALL THE INVESTIGATIONS? And, ED being deliberately kept out of CBDT's control, and having been given a higher status than the Deptt of Revenue's subordinate office, i.e., the CBDT, the IT officers must always toe the line of the ED officers. This has been going on for ages.

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