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Posts in category Business Standard
Women account for a fifth of total mutual fund investors, shows data (13-04-2023)
In the last three years, there has been a jump of 1.3 million women investors, each, from B30 and T30 cities
Jeera prices jump again on low crop estimates; second spike since Jan (13-04-2023)
For farmers though, this wild fluctuation in prices in the last few months is doing more harm than good
Indices winning run enters 9th day, longest in 2.5 years; Sensex up 38 pts (13-04-2023)
The gains come on the back of strong inflows from foreign portfolio investors
Market regulator Sebi issues show-cause notice to Brightcom Group, promoter (13-04-2023)
In interim order, regulator says company painted a ‘rosy picture’ of its financial statements
Equity mutual fund flows at 12-month high of Rs 20,500 crore in March (13-04-2023)
In 2021-22, mutual funds (MFs) added over 4 million new investors, taking the total unique investor count to 37.7 million
ZEEL CEO Goenka settles insider trading case with Sebi; pays Rs 50.7 lakh (13-04-2023)
Zee Entertainment Enterprises Ltd’s MD and CEO Punit Goenka on Thursday settled with capital markets regulator Sebi a case of an alleged violation of insider trading norms after paying Rs 50.7 lakh towards the settlement fee.
This came after Goenka proposed to the Securities and Exchange Board of India (Sebi) to settle the proceedings “without admitting or denying the findings” through a settlement order.
“It is hereby ordered that the instant proceedings initiated against the applicant vide SCN (show cause notice) dated December 22, 2022, are disposed of,” Sebi said in its settlement order.
The regulator, in its investigation, found that Goenka allegedly failed to put in place adequate internal controls within the company to identify unpublished price-sensitive information (UPSI) and failed to identify the information pertaining to the launch of Cinema 2 Home Service, ZEEPLEX, as UPSI. By doing so, he allegedly violated the provisions of insider trading rules.
Following this, a sh
Adani’s Rs 20,000-cr FPO subscriber info not available: Sebi to RTI query (13-04-2023)
Sebi’s responses were submitted for two separate RTI applications filed by a certain Prasenjit Bose on January 31 and February 8
SAT reduces Sebi’s penalty on former Maars Software MD to Rs 10 lakh (13-04-2023)
The Securities Appellate Tribunal (SAT) has slashed the penalty imposed on the former MD of Maars Software International to Rs 10 lakh from Rs 1 crore in a case related to manipulation in the issuance of global depository receipts.
Maars Software International Ltd (MSIL) came out with a global depository receipts (GDRs) issue on August 10, 2007.
Pravin Champalal Jain was the former managing director of MSIL.
“While affirming the order of Sebi’s Adjudicating Officer (AO) for the violations committed by the company, we reduce the penalty from Rs 1 crore to Rs 10 lakhs.
“In our opinion, the penalty imposed is excessive and disproportionate to the violation and is also discriminatory,” the tribunal said in its ruling on Tuesday.
The verdict came after Jain challenged the order passed by Sebi in July 2020.
Sebi’s AO had imposed Rs 10.25 crore on MSIL, Rs 1 crore on Jain and Rs 10 lakh each on Harshawardhan S Rathore and Nikunj Babulal Choradiya for flouting Prohibition of Fraudulent a
IDBI Bank gains 10% as report says RBI has begun bid evaluation process (13-04-2023)
According to Reuters, the RBI is evaluating at least five potential bidders interested in picking up a majority stake in state-owned IDBI Bank Ltd