SEBI trying to check start-ups exodus: chairman
India's capital markets regulator SEBI on Monday said that it is making best efforts to check the flight of start-ups to other countries by creating a conducive climate for their growth in India.
"Start-up and SME IPOs have begun to develop in India. The perception, however, is building that start-ups are flying away from India and better performing wooing investments in countries like US and Singapore but this remains a perception at a time when such a thing has begun to happen," Securities and Exchange Board of India (SEBI) chairman U.K.Sinha said at an event here organised by the PHD Chamber of Commerce and Industry.
"This will change in due course and India will shortly begin witnessing sufficient conducive conditions and climate for start-ups to stay put in India and diversify their operations from being based here," he added.
In this regard, Sinha said SEBI would recommend to the government even tax concessions for start-ups.
He also said that close to 8,000 foreign portfolio investors were registered in India, reflecting the strength of its capital market.
"The start-ups exodus outside India would stop and a vast majority of them would prefer to work from here as already a good number of them are operating from here," Sinha said.
Among those who participated in the event included National Stock Exchange of India's business development head Ravi Varanasi and Bombay Stock Exchange SME platform head Ajay Thakur.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.


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CREDAI calls for strike on 13th October to protest death of Suraj Parmar

In what will be a first for the construction industry, builders are going on a strike on 13th October and for a month, builders will wear a black ribbon as a mark of protest against wrong policies and corruption of the 'system'
Builder and developers body Confederation of Real Estate Developers' Association of India (CREDAI) has called in for a nationwide protest and strike on 13th October against wrong policies and corruption of the 'system'. CREDAI and its members have put up several hoardings across Mumbai, Thane and Navi Mumbai to appeal for the token strike and protest. Also for the next one month, builders would wear a black ribbon as a mark of protest.
Through its hoardings, CREDAI is stating, "Dear System, We want to live! Stop Killing Us! This is in reference with the death of Cosmos Group chief Suraj Parmar, President of Thane chapter of Maharashtra Chamber of Housing Industry (CREDAI-MCHI). Last week, Parmar, chairperson and managing director of the Cosmos Group, shot himself with his personal .32 calibre pistol in a sample bungalow at one of his upcoming projects at Kasarvadavli in Thane. Parmar had left a 15-page suicide note, in which he blamed red tape and non-payment of loans as primary reasons for the drastic step. 
In its hoarding, CREDAI said, "This is an appeal from CREDAI and its members to the Government to create the right atmosphere of trust and co-operation. And take action to prevent delay in projects due to political interference and corruption so that we could invest all our strength in building a strong nation."
Although, the builders have called for a strike and protesting against wrong policies and corruption of the 'system', there is limited sympathy for them. This is because the ordinary people hold builder lobby primarily responsible for high prices of homes in and around Mumbai and lack of unaffordable homes.  However, there is no denial about the fact that rampant corruption and collusion with politicians are important factors. It is good that this is now out in the open and will hopefully turn the heat on the government to ensure a clean-up.
Apparently, a press conference of the builder's body in Mumbai was cancelled due to some pressure from political quarters.




2 years ago

CREDAI calls for strike on 13th October to protest death of Suraj Parmar / itis the case of paid money but not getting OC where as we 316 members of a Housing society purchsed flats 4 self use but...Flat Owners but not Adopted as members in a Co-Operative Housing society.

With due regards,

We, 316 members out of total 454 highly discouraged and most of us are senior- citizens of denial membership from Sri Ganesh co-operative Housing Society, Nerul, Navi Mumbai by the self appointed MC and behave like land mafias and adopted tactics to restraint from action taking authorities against its ulterior motives through lending multiple Vexatious cases in Bombay/HC instead of SC despite already decided case by the same HC in following manner.
(A) PIL-474-1996 then (B) WP- 5771/1997 and (C) SC/10922-98 and also settled by

Our request to your urgent intervene before matter goes very serious as ‘the said housing society committee may gear up for redevelopment on completing20/25years and to ‘save our right of ownership’ from a land mafias in a disguise of MC,


We are compelled to Pay our maintenance charges in the hands of self appointed MC and to defend by filing repeated petitions at Bombay HC as follow.

(A) Bombay HC (WP- 4481/2001) against scarping the order of JTR/CBD by the then
Minister (NCP). Based on the Hon’able HCs order, State Ministry issued final order
dated 25/08/2003 vide No- RVA 2702/CR-208/15-C, but the MC again approached
HC and got the STAY through WP-8508/2003

(B) again second time on the intervention of HC, contempt petition No-11/2011,
appointed administrator in 2012 and again concerned Minister (CONG.,) scarped the
order so again HC / WP (St) No 15277/2014 and

(C) recently our Co-operation Hon, minister Shri Chandrakant Patil (BJP) order
dated- 06/02/2015 vide No-RAV-2012/Pra.Kra.690/15C, and once again society MC in
HC with WP (St) No-8132/2015 saying authority is below power and do not come under the Jurisdiction of JTR as well Minister.

Vijay Wadhwa

2 years ago

Dear Editor,

my feedback on reading the article is that. We as developers do not expect anything else expect fast approvals (e-approvals, self approval - with an indemnity that builder will be hold responsible if things go wrong.

otherwise meeting discussing do not get end result. the more approvals are given fast, Govt and Corporations will get more revenue. instead of increasing taxes and stamp duty - Volumes will come. it will be a win win for all. More supply prices will come down. More construction - premiums will be received more by the authorities, and all incomplete projects will get completed (faster sanctions). the needy who are needing houses will get shelter. now it is left upto the policy makers, how they want to run the industry.

Vijay Wadhwa

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