The Congress has slammed SEBI’s refusal to disclose instances when its chairperson Madhabi Buch recused herself due to conflict of interest and said that this makes a “mockery” of public accountability and transparency.
The cases where Buch recused herself due to potential conflict of interest is not “readily” available and collating them would “disproportionately divert” its resources, the securities market regulator said in an RTI response on Friday.
In the response furnished to transparency activist Commodore Lokesh Batra (retd), the regulator also refused to provide copies of Buch’s declarations to the government and SEBI Board on the financial assets and equities held by her and her family members on the grounds of these being “personal information” and that their disclosure may “endanger” personal safety.
Reacting to the development, Congress general secretary in-charge communications Jairam Ramesh said, “The multiple conflicts of interest of the SEBI Chairperson that have bee

The initial public offer of Paramount Speciality Forgings got subscribed by 68.7 times on the last day of subscription on Friday.
The Rs 32.34-crore public offer of Paramount Speciality Forgings received bids for 26,96,40,000 shares, as against 39,22,000 shares, according to the NSE SME data.
The category for Non Institutional Investors received 220.54 times subscription, while the Retail Individual Investors (RIIs) portion garnered 41.29 times subscription.
The Qualified Institutional Buyers quota was subscribed 20.87 times.
The initial public offering (IPO) of Paramount Speciality Forgings comprises a fresh issue of 48.02 lakh equity shares and an Offer-for-Sale (OFS) of up to 6.8 lakh shares by promoters.
As part of the OFS, Aliasgar Roshan Hararwala, Aliasgar Abdulla Bhagat, Mohammed Salim Hararwala, Abdulla Aliasgar Bhagat, Hoozefa Saleem Hararwala, Abbasali Salim Hararwala, Zahid Mohamadi Hararwala and Roshan Alihusain Hararwala have offloaded their shares.
The Mumbai-based

LIC Mutual Fund on Friday launched a new Manufacturing Fund, an open-ended equity scheme, and said it is looking to achieve an asset under management of Rs 60,000 crore this fiscal.
The new fund offer (NFO) will remain open for subscription till October 4 while the units under the scheme would be allotted on October 11, the company said. It also said that the scheme will be benchmarked to the Nifty India Manufacturing Index (Total Return Index).
The scheme aims to provide a diversified portfolio of companies that come under the ambit of manufacturing theme, including automobiles, pharmaceuticals, chemicals, heavy engineering products, metals, shipbuilding, and petroleum products, among others, the company said.
“The main objective of launching the manufacturing fund is to create wealth for the investors who will be joining this scheme and which will be mainly investing into manufacturing theme companies,” R K Jha, Managing Director and Chief Executive Officer, LIC Mutual Fund told .

The month of September is set to be the busiest month for IPOs in both mainboard and SME segments in the last 14 years, with over 28 companies entering the market so far, said the Reserve Bank’s latest Bulletin released on Friday.
Financial markets are undergoing shifts, said the article on the state of economy published in the RBI’s September Bulletin.
“In the primary equity market, there is a surge of interest in small and medium enterprises (SMEs) initial public offerings (IPOs), including from domestic mutual funds, with massive oversubscriptions,” it said.
Citing a study by market regulator SEBI, the article further said 54 per cent of IPO shares allotted to investors were sold within a week of listing.
“September is set to be the busiest month for IPOs… in 14 years,” the article said, adding that over 28 companies entered the market so far in both mainboard and SME platforms.
The article said resource mobilisation through initial public offerings (IPOs) has remained robust

Prices of gold have climbed 26 per cent in 2024, its biggest annual rise since 2010, as investors also sought to hedge uncertainties spurred by prolonged conflicts in the Middle East and elsewhere