REGULATIONS


MDT/PTI 07 September 2012
As per the settlement with SEBI, Sanjay Sanghvi paid Rs15 lakh and took a voluntary debarment from the market for 36 months, without admission or denial of guilt in the alleged front running in shares traded by HDFC Mutual Fund   New Delhi: Market regulator Securities and Exchange...

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MDT/PTI 06 September 2012
Flagging the surge in bad assets levels and requests for loan restructuring, Anand Sinha, deputy governor of the RBI said there is urgent need for banks to improve their credit management systems Mumbai: There is an urgent need to beef up the credit management systems at banks as the...

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MDT/PTI 06 September 2012
SEBI probe found that a group of entities connected to each other and to T Spiritual World had dealt in the stock in a fraudulent and manipulative manner New Delhi: Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1.75 lakh on Galaxy Broking Ltd...

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MDT/PTI 06 September 2012
SEBI barred Alfa Fiscal Services and its directors -- Hardik R Bagadia and Bhavesh Natwarlal Sheth from the securities market, except allowing Sheth to sell other securities held in his demat account New Delhi: Market regulator Securities and Exchange Board of India (SEBI) has passed the...

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MDT/PTI 06 September 2012
While Wal-Mart has invested Rs455.8 crore in Cedar Support Services, a unit of Bharti Ventures, through Mauritius, the RBI do not have data of this deal New Delhi: US retail giant Wal-Mart Stores Inc has invested Rs455.8 crore in a subsidiary of Bharti Ventures in 2010 via its Mauritius...

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MDT/PTI 06 September 2012
In the final order, SEBI upheld its interim order passed against book running lead manager -D&A Financial Services to the public issue of Brooks Laboratories and Dinesh R Kaushik, director of the company   Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has...

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It is clear now that mis-selling is rampant, experts don’t know that much, the human mind is not hardwired to understand money and the band-aid of financial literacy is irrelevant. No wonder the financial sector is shrivelling. There is a way out. Our financial regulators need to be educated...

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MDT/PTI 05 September 2012
Mobile operators can offer cash-out or mobile wallet facility only if they work as banking business correspondent, says the RBI Mumbai: Reserve Bank of India (RBI) deputy governor HR Khan on Wednesday ruled out allowing mobile network operators (MNOs) from offering cash-out or mobile...

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Cold calculations show that such is the draconian charges SEBI plans to introduce for fund investors, that even the horrible practice of entry load would have been a cheaper option for investors. The new charges also perversely penalise committed investors Exactly three years ago the...

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Moneylife Digital Team 04 September 2012
It is the finance ministry and not the RBI that is responsible for all the confusion over the size and design of Rs2, Re1 and 50 paise coins   Have you been blaming the Reserve Bank of India (RBI) for the changes in currency and the fact that the Rs2 coin looks like the Re1 coin, the...

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It required a parliament question by MP Rajeev Chandrashekar for SEBI to admit the involvement of its manager Jerome K Alexander in the infamous “forged letter” sent to Pyramid Saimira by SEBI. While Pyramid Saimira is being wound up, why is the regulator dragging its feet over the Alexander...

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MDT/PTI 04 September 2012
“The homogeneity in security features act as deterrent against frauds, and the fixed field placement specifications facilitate straight-through-processing at drawee banks’ end through the use of optical or image character recognition technology,” RBI said in a notification   Mumbai:...

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MDT/PTI 04 September 2012
CIC Satyananda Mishra also directed SEBI to make public statistical details of number of cases in which penalty has been imposed and the number of cases which have been closed without any penalty   New Delhi: The Central Information Commission has directed the Securities and Exchange...

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MDT/PTI 04 September 2012
SEBI carried out investigation into alleged irregularity in trading in the shares of 12 entities   New Delhi: Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs1 lakh on Sunil Kumar Mehta for alleged indulging in synchronised trading activities...

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MDT/PTI 03 September 2012
SEBI's proposed steps are aimed at safeguarding the investors' interest and ring-fencing the IPO market from possible over-pricing of the public offers through a nexus between the company promoters and merchant bankers   New Delhi: Market regulator Securities and Exchange Board of...

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MDT/PTI 03 September 2012
Carmakers are accused of abusing their dominant position by making available spare parts only through their authorised dealers, who in turn sell them at higher rates New Delhi: The Competition Commission of India (CCI) may soon send notices to as many as 17 carmakers, seeking their...

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After the landmark verdict by the apex court, Subrata Roy-led Sahara Group has come out with full page ads in various newspapers. This is childishness and only underlines the dangers of allowing this group to keep expanding without regulatory checks and balances In hindsight, it was...

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With life savings of millions at stake, the question is—why was the administration sleeping while this Rs20,000 crore was raised through a million agents?   The ruling of the Supreme Court in the Sahara Real Estate Corporation (Sahara) case is a landmark ruling, not so much for the...

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Moneylife Digital Team 31 August 2012
Recently, the Securities & Exchange Board of India allowed fund companies to charge more to investors through a convoluted formula. The practices of fund companies, anyways, were to charge more, not less because investors are usually blind to fund charges, being focused more on returns

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Moneylife Digital Team 31 August 2012
The apex court while upholding SAT verdict, also asked SEBI to probe Sahara India Real Estate Corp and Sahara Housing Investment Corp and find out their actual subscriber base In a big blow to Subrata Roy-led Sahara group, the Supreme Court on Friday asked the group to refund Rs17,400...

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