Posts in category Business Standard
Panel to decide reversal of erroneous transfers in demat accounts (08-08-2023)
Depositories approached Sebi, highlighting the challenges faced concerning obtaining OTP for such trade reversal
Sebi categorises dues worth Rs 73,287 crore as ‘difficult to recover’ (08-08-2023)
Capital markets regulator Sebi has segregated dues to the tune of Rs 73,287 crore under "difficult to recover" category at the end of March 2023.
Overall, the markets watchdog has dues worth Rs 1.02 lakh crore that needs to be recovered from entities, including those that failed to pay the fine imposed on them, or were unable to pay fees due to it and did not comply with its direction to refund investors' money, according to Sebi's annual report for 2022-23, which was released on Monday.
Of Rs 1.02 lakh crore, Rs 63,206 crore, which is 62 per cent of the total amount, pertains to collective investment scheme and deemed public issues of PACL Ltd and Sahara Group company Sahara India Commercial Corporation Ltd.
Further, the regulator said parallel proceedings are pending before various courts and court-appointed committees in 77 cases involving Rs 70,482.62 crore, or 69 per cent of the total amount.
"In these cases, Sebi's recovery proceedings are subject to directions/approvals of .
Sebi categorises dues worth Rs 73,287 crore as ‘difficult to recover’ (08-08-2023)
Capital markets regulator Sebi has segregated dues to the tune of Rs 73,287 crore under "difficult to recover" category at the end of March 2023.
Overall, the markets watchdog has dues worth Rs 1.02 lakh crore that needs to be recovered from entities, including those that failed to pay the fine imposed on them, or were unable to pay fees due to it and did not comply with its direction to refund investors' money, according to Sebi's annual report for 2022-23, which was released on Monday.
Of Rs 1.02 lakh crore, Rs 63,206 crore, which is 62 per cent of the total amount, pertains to collective investment scheme and deemed public issues of PACL Ltd and Sahara Group company Sahara India Commercial Corporation Ltd.
Further, the regulator said parallel proceedings are pending before various courts and court-appointed committees in 77 cases involving Rs 70,482.62 crore, or 69 per cent of the total amount.
"In these cases, Sebi's recovery proceedings are subject to directions/approvals of .
Annapurna Swadisht to raise Rs 69.33 crore through preferential issue (08-08-2023)
City-based FMCG company Annapurna Swadisht Limited on Tuesday said it will raise Rs 69.33 crore through a preferential issue of equity shares and warrants by September to expand manufacturing capability.
The company will issue the following securities on a preferential basis: 11,00,000 equity shares, for Rs 295 per equity share, aggregating to Rs 32.45 crore and 12,50,000 warrants, at an exercise price of Rs 295 per warrant, aggregating to Rs 36.88 crore. Warrants may be converted in tranches within 18 months, the company stated.
"The funds raised will be utilised to purchase a strategic asset to expand the manufacturing base in West Bengal to reduce fixed costs, reduction of high-cost debt, and meet the working capital requirements, company CFO Ravi Sarda said.
Utilisation of funds raised in the first tranche will result in savings of around Rs 6 crore per annum by way of reduction in interest payment and rentals, he said.
The company had raised close to Rs 30.25 crore through an
Sebi looks to introduce disclosure requirements for unlisted companies (08-08-2023)
Capital markets regulator Sebi is looking to introduce disclosure requirements for unlisted companies, which are part of a business conglomerate.
While listed entities are subject to comprehensive disclosure requirements, the same levels of disclosure requirements are not applicable for unlisted companies.
"There is a need to identify, monitor and manage risks introduced into the securities market ecosystem by unlisted companies in a conglomerate with a complex set of listed and unlisted associates," Sebi said in its annual report for 2022-23.
Also, the regulator plans to facilitate transparency around the conglomerate by enhancing the group-level reporting of transactions.
"Disclosure of details of cross-holding and material financial transactions within the conglomerate are also some of the matters that Sebi would examine to be disclosed on an annual basis," the annual report noted.
The country's top business conglomerates include Tata Group, Reliance Industries, Adani Group, Ad
Indian Bank soars 10% on heavy volumes; hits 5-year high in subdued market (08-08-2023)
The stock hit a 5-year high of Rs 381.40 and has zoomed 35% in two months and is inching towards its record high level of Rs 428 touched in November 2017
Person giving advice to overseas clients exempted from registration: Sebi (08-08-2023)
Any person who provides investment advice to clients exclusively based out of India is exempted from seeking registration under the rules governing investment advisor (IA), capital markets regulator Sebi has said.
However, if the person gives investment advice to Non-Resident Indians (NRIs) and Person of Indian Origin (PIOs) then he or she will fall under the purview of IA rules and need to obtain a registration certificate, Sebi said in the list of frequently asked questions on investment advisers uploaded on its website on Tuesday.
Further, Sebi said that registered investment advisers can give investment advisory services to foreign portfolio investors (FPIs).
An investment adviser gives investment advice relating to buying selling or dealing in securities such as shares, debentures, bonds, derivatives, securitised instruments, units of AIF (alternative investment fund), REIT (real estate investment trust) and InvIT (infrastructure investment trust).
While dealing in distributio
Hero MotoCorp rides 4% higher on strong Harley Davidson X440 bookings (08-08-2023)
In an exchange filing, the company said that it would start production of the Harley Davidson X440 in September 2023 and commence deliveries from October onwards
HPL Electric & Power freezes at 5% upper circuit on Rs 417-crore order win (08-08-2023)
With this, the total pending order book pipeline now stands at Rs 2,267 crore
NLC India climbs over 12-year peak, rallies 5% on stable outlook (08-08-2023)
The company is hopeful that the possession of the required land will be made available at the earliest and will reach to the lignite production level as per the requirement of thermal power station.