REGULATIONS


MDT/PTI 28 December 2012
The open offer is part of a proposed acquisition of up to 53.4% stake in United Spirits (USL) by Diageo Plc for an aggregate amount of Rs11,166.5 crore. An acquirer can go ahead with the open offer only after SEBI issues its ‘observations’ on the same New Delhi: Market regulator...

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MDT/PTI 27 December 2012
MCX-SX has already got an approval from SEBI to function as a full-fledged stock exchange New Delhi: The government has notified the country’s newest bourse MCX-SX (MCX Stock Exchange)as a recognised stock exchange, paving the way for initial public offers, listing and trading of shares...

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Moneylife Digital Team 27 December 2012
Two activists from Lucknow have urged the RBI governor to enquire into the allegations and cancel the licence of HSBC, if found true   Lucknow-based activists Amitabh Thakur and Dr Nutan Thakur have approached the Reserve Bank of India (RBI) with regard to allegations of...

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MDT/PTI 27 December 2012
During 2012, the apex court dealt with several high profile cases like the Sahara group v/s SEBI, Vodafone tax issue, illegal mining in Karnataka, Goa and other states. But perhaps the Supreme Court dealt the biggest blow to the government and corporates by scrapping 122 licenses for the 2G...

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MDT/PTI 26 December 2012
SEBI barred Dilip Pendse, former MD of erstwhile Tata Finance, for two years on charges of involvement in fraudulent and unfair trade practices in four companies including TELCO and Infosys   Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has barred Dilip...

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Moneylife Digital Team 21 December 2012
SEBI has had a poor track record in resolving and responding to complaints. It also does not have data pertaining to PoA abuses. The government has asked the market regulator to resolve complaints faster Rajeev Chandrashekar, Member of Parliament, who had taken cognizance of one...

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MDT/PTI 21 December 2012
While dismissing Sahara group's plea, the SAT said Since the Supreme Court has already given a specific direction in the matter the appeals before the Tribunal have become infructuous Mumbai: A plea seeking extension of deadline for submission of investor documents by two Sahara group...

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MDT/PTI 21 December 2012
SAT said if a person indulges in fraudulent and unfair trade practices relating to securities, he would be liable to a penalty of Rs25 crore or three times the amounts of profit made out, but SEBI has charged Rs8 lakh Mumbai: The Securities Appellate Tribunal (SAT) has upheld Securities...

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MDT/PTI 21 December 2012
SEBI said Biren Kantilal Shah made a total ill gotten gain of Rs24.10 lakh while dealing as key operator in the IPOs of Suzlon Energy and IDFC Mumbai: Capital market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs20 lakh on one Biren Kantilal Shah for...

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MDT/PTI 21 December 2012
The companies which got relief from the ban are -- A to Z Steels, GN Credits, Premium Hospitality Services, 4a Financials Securities, Venus Infosoft and Neelanchal Mercantile Mumbai: Market regulator Securities and Exchange Board of India (SEBI) revoked its earlier order barring six...

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MDT/PTI 21 December 2012
SEBI observed that before placing the orders for CBI, shares were purchased in the account of Vibha Sharma and sold to match the orders of the bank. The couple thereby earned undue profits at the cost of CBI and its customers Mumbai: Market regulator Securities and Exchange Board of...

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MDT/PTI 20 December 2012
The 10-member committee will also consider the qualification, examination and syllabus for players in the retail broking system in insurance New Delhi: The Insurance Regulatory and Development Authority (IRDA) have set up a committee to examine the issue of allowing retail broking system...

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MDT/PTI 20 December 2012
SEBI has increased the minimum capital deposit required to be maintained by a stock broker to up to Rs50 lakh from a maximum of Rs10 lakh Mumbai, Dec 19 (PTI) Market regulator Securities and Exchange Board of India (SEBI) has increased the minimum capital deposit required to be...

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MDT/PTI 20 December 2012
Referring to issuing of licences to corporates, the RBI deputy governor said first the guidelines on banking licences should be in place Mumbai: Days after Lok Sabha passed the Banking Laws (Amendment) Bill, Reserve Bank of India (RBI) Deputy Governor KC Chakrabarty said the process for...

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Nidhi Bothra 18 December 2012
The Supreme Court has ruled that dues by borrowers with regard to derivatives contract shall be covered under RBI’s Master Circular providing rules on wilful defaulters. The ruling does not resolve the controversy as it only addresses a minor issue. The heart of the matter—whether banks...

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MDT/PTI 18 December 2012
SEBI said the stock exchanges may consider to shift the scrips of nine companies from TFTS to a normal rolling settlement as these companies have established connectivity with both depositories - NSDL and CDSL Mumbai: Market regulator Securities and Exchange Board of India (SEBI) said...

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MDT/PTI 18 December 2012
SEBI imposed a fine of Rs10 lakh on Mahendra Pandey one of the promoters of Alka Securities for alleged violation of disclosure norms Mumbai: Market regulator Securities and Exchange Board of India (SEBI) imposed a penalty of Rs10 lakh on one of the promoters of Alka Securities Ltd...

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MDT/PTI 18 December 2012
NSE said the stock broker would be moved back to the normal risk management mode as and when his  collateral is lower than 85% utilisation level Mumbai: The National Stock Exchange has asked its trading members to compulsorily implement a risk reduction mode when 90% of their capital is...

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MDT/PTI 18 December 2012
The funds raised through ECBs could be used either for developing low cost housing projects or for providing loans up to Rs25 lakh to individuals for buying home with a price tag of Rs30 lakh or less, says the central bank Mumbai: The Reserve Bank of India (RBI) has allowed real estate...

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MDT/PTI 17 December 2012
SEBI said it found that the stock broker, Triveni Management Consultancy, had placed manipulative orders for Asian Star Company shares in the accounts of its clients Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs25 lakh on Triveni...

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