Capital markets regulator Sebi on Friday said there are no ongoing discussions for any enhanced prosecution powers to it and it is not forming any committee for review of the Securities Contracts (Regulation) Act of 1956.
The statement follows a media report that the Securities and Exchange Board of India (Sebi) plans to set up an expert panel to suggest changes to the 67-year-old Act.
The report further said there is a discussion going on about enhanced criminal prosecution powers for Sebi and this issue is also likely to be examined by the committee.
“In this connection, it is clarified that Sebi has neither formed nor has considered formation of any such Committee for review of the Securities Contracts (Regulation) Act, 1956 and there are no ongoing discussions for any enhanced prosecution powers for Sebi,” the regulator said in a statement.
Posts in category Business Standard
No discussions underway on enhanced prosecution powers, says Sebi (14-07-2023)
FPI flows, IT rally propel Sensex beyond 66,000; Nifty50 tops 19.5k (14-07-2023)
Some experts said if US inflation is approaching its targeted levels, there may not be a case for rate hikes in India either
FPI flows, IT rally propel Sensex beyond 66,000; Nifty50 tops 19.5k (14-07-2023)
Some experts said if US inflation is approaching its targeted levels, there may not be a case for rate hikes in India either
Crypto wrap: US Federal Court’s ruling on Ripple leads to surge in market (14-07-2023)
Cryptocurrency news: Another reason for the surge was the lower-than-expected US inflation of 3% for June
Utkarsh SFB’s offer is second IPO to be subscribed over 100x in a fortnight (14-07-2023)
Sold 102 times, attracts bids over Rs 30,000 cr as institutional portion is subscribed 125x
IT stocks log biggest gain in nearly three years as growth worries ebb (14-07-2023)
Nifty IT index jumps 4.5%; Bellwether TCS leads the gain
Sebi’s new disclosure norms for listed firms to kick in from Saturday (14-07-2023)
The compliance burden on listed companies is set to increase from Saturday as capital markets regulator Sebi has put in place a stricter timeline for disclosure of material events or information by them.
Under this, the Securities and Exchange Board of India (Sebi) has given 12 to 24 hours for disclosures.
The regulator has asked companies to disclose agreements entered into by shareholders, promoters, related parties, directors, key managerial personnel, and employees of the listed entity or of its subsidiary, which can impact the management and control of such firms to stock exchanges.
Such agreements need to be disclosed within 12 hours in case a listed entity is a party and within 24 hours where the listed entity is not a party.
Disclosure of family settlement agreements was already required under the existing Para A of Schedule III under the LODR (Listing of Obligations and Disclosure Requirements) Regulations.
Further, for material events or information that emanate from the
Filing ITR for crypto gains: Here’s your guide on taxation for VDAs (14-07-2023)
All cryptocurrency purchases, sales, and transactions are subject to a 30% capital gains tax on profits, with no provisions for reduced rates or deductions under Section 115BBH.
ZEE shareholders reject reappointment of Alicia Yi as independent director (14-07-2023)
Shareholders of Zee Entertainment Enterprises Ltd (ZEEL) have rejected a proposal for reappointment of Alicia Yi as an independent director on the company board.
The special resolution for reappointment of Alicia Yi got only 42 per cent votes in favour as compared to 57.97 per cent against it.
“Based on the votes cast by the members, the special resolution pertaining to reappointment of Alicia Yi as an independent director of the company for a second term of 3 years has failed to receive a requisite number of votes in favour,” ZEEL said in a late-night regulatory filing on Thursday.
Hence, she vacates the office of independent director with effect from July 13, 2023, it added.
“The board shall take necessary steps for complying with the requirement of the Companies Act, 2013 and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the purpose of having the optimum composition of Board of Directors of the company,” it said ..
Nifty IT index gains 6% in 2 days; Tech Mahindra, Coforge hit 52-week highs (14-07-2023)
Mphasis surged 4 per cent, while TCS, Infosys, HCL Technologies and L&T Technology Services gained in the range of 2 to 3 per cent