SEBI, the markets regulator, has banned entrepreneur Anil Ambani and 24 other companies, including former Reliance Home Finance executives, from the securities market for five years for diverting cash from the firm. SEBI has imposed a penalty of ₹ 25 crore on Anil Ambani and restrained him from being associated with the securities market including as a … Read more
U.S. based short-seller Hindenburg Research released a new report on Saturday alleging that the chairperson of India’s market regulator (SEBI) Madhabi Puri Buch previously held investments in certain offshore funds that were also used by Adani Group. The report said that these obscure financial systems were allegedly used in the “money siphoning scandal.” Hindenburg’s report … Read more
Byju’s, India’s most valued start-up worth an estimated USD 22 billion, will face insolvency procedures after failing to pay ₹ 158.9 crore to cricket board BCCI. On Tuesday, the Bengaluru bench of the National Company Law Tribunal (NCLT) approved bankruptcy proceedings against the corporation and appointed an interim resolution specialist, suspending the company’s board of … Read more
According to a filing on the exchange, Paytm, a fintech company, received an administrative warning for specific transactions with its banking subsidiary for the fiscal year 2021–2022. In the latter, dated July 15, the Securities and Exchange Board of India (Sebi) stated that some transactions between Paytm and the now-closed Paytm Payments Bank were carried … Read more
Chief Justice of India DY Chandrachud today advised market regulator SEBI and the Securities Appellate Tribunal (SAT) to exercise caution amid a significant surge in equity markets and pitched for more tribunal benches to ensure that the “backbone is stable”. Inaugurating the new SAT premises, CJI Chandrachud pitched for authorities to consider opening up new … Read more
Brokers and mutual funds should stop using unregulated financial influencers for marketing and advertising campaigns, markets regulator SEBI said today. The Securities and Exchange Board of India (SEBI) said financial influencers engaged in investor education will be exempt from the new restrictions. The decision was taken to address concerns related to “certain persons, including unregulated … Read more
Hyundai Motor India Limited, the Indian arm of the South Korean auto giant, today filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an IPO to raise around $3 billion (Rs 25,000 crore). “The objects of the offer are to carry out the Offer for Sale of … Read more
Sebi, the capital markets regulator, has implemented stronger guidelines to combat staff misconduct and corrupt. Amending rules governing its employees’ services, the markets regulator said that a competent authority can “direct recovery from an employee of the amount of pecuniary loss caused to the Board (Sebi) by all means available to the Board under the … Read more
In a significant development, the Supreme Court has ruled in favor of the Adani Group, affirming the Securities and Exchange Board of India’s (SEBI) investigation into the Hindenburg case. The court dismissed the legitimacy of the OCCRP report, funded by figures like George Soros, as a basis for questioning SEBI’s probe. The bench, led by … Read more
After Sahara Group CEO Subrata Roy passed away, undistributed funds worth over ₹ 25,000 crore that were in the capital markets regulator Sebi’s account have come back into the spotlight. Mr Roy died on Tuesday night in Mumbai at the age of 75 after a long illness. He was involved in numerous regulatory and legal … Read more