Mumbai, Last week was indeed flat and positive with NIFTY gaining back almost all that it had lost during the first few days. Immense fund flow clubbed with retail participation helped NIFTY to move above 5400, hinting that the markets are entering another bull phase. NIFTY is on a consolidation mode and it is having a base at 5325 and 5250. The resistance for the NIFTY will be at 5450...
02:27 PM, Feb 13, 2012
New Delhi: Market watchdog SEBI seems to be the latest to catch the fancy of social networks like Twitter, Facebook and blogs for spreading its message to investors as also to snoop on discussions at these platforms as part of its investigation and oversight activities. The Securities and Exchange Board of India (SEBI) is hiring specialist IT officers, whose role would include keeping track of social media platforms like Twitter...
12:34 PM, Feb 12, 2012
New Delhi: Stock exchanges on Tuesday pitched for abolition of the Securities Transaction Tax (STT) on equity trades at their meeting with Finance Ministry officials in New Delhi. The issue of removal of STT was raised by representatives of different stock exchanges, including BSE, National Stock Exchange, MCX-SX and USE. Besides, the officials of the market regulator Securities and Exchange Board of India (SEBI) were also present in the meeting....
09:18 PM, Feb 07, 2012
New Delhi: The Supreme Court on Monday declined to entertain a plea questioning the appointment of UK Sinha as SEBI chairman, saying it is aimed against an individual under the garb of raising legal and constitutional issues. A bench headed by Chief Justice SH Kapadia said this was for the second time that the same issue has been raised before the court despite it asking the petitioner earlier to raise...
02:33 PM, Nov 21, 2011
Pentamedia was not just a corporate scam like Satyam, but also a money laundering operation. ...
10:10 PM, Nov 09, 2011
New Delhi: In October 2005, the Bombay Stock Exchange suspended trading in Pentamedia Graphics stocks after the Securities and Exchange Board of India (SEBI) found attempts to rig the market. Following this, the Pentamedia group was pushed to the brink, the group's majority businesses in the US dried up and cash flow was hit badly. Owner Dr V Chandrasekaran had anticipated it all since 2000 and came up with a...
06:55 PM, Nov 09, 2011
New Delhi: Pentamedia Graphics Limited was once one of India's largest information technology companies. But today, Pentamedia Graphics Limited is "limping" on, with combined revenues of Rs 19 crore, a fraction of the more than Rs 1,000 crore it generated during its heyday. Pentamedia Graphics and its promoters fooled investors and stripped the company of its assets but still continue to hold on to prime land worth Rs 2500 crore....
06:22 PM, Nov 09, 2011
New Delhi: The Income Tax Department will introduce a separate permanent account number(PAN)application form for non-residents in which NRIs, PIOs and entities having interest in India will have to provide additional information to the Central Board of Direct Taxes (CBDT). The new form - 49AA - will help the department gather information on non-Indian entities and individuals, like Persons of Indian Origin (PIOs), politically exposed persons (PEPs), persons linked to...
08:02 AM, Nov 01, 2011
Mumbai: In a historic order, the SEBI appellate tribunal ruled that Sahara Group would have to repay over Rs 24,000 crore it had collected in the form of optionally convertible debentures. However, investors still feel there's very little hope of getting their money back. One of the investors, Anil Upadhyay, has little hopes despite the SEBI tribunal asking the company to return the money within six weeks. "There are thousands...
09:28 AM, Oct 20, 2011
Mumbai: SEBI on Friday notified new takeover rule under which an entity buying 25 per cent stake in a listed firm will have to mandatorily make an open offer to buy an additional 26 per cent shares from public. The new norms will be applicable 30 days from notification. The new norms mark an increase in the open offer size for public shareholders from 20 per cent currently. Also the...
08:11 PM, Sep 23, 2011
Mumbai: India raised the ownership trigger for a mandatory takeover offer in a company to 25 per cent from 15 per cent now, a move that could draw more private equity and other investors into listed companies. The chairman of the Securities and Exchange Board of India (SEBI) also said the new rules will require such investors to offer to buy at least 26 per cent more of the company,...
07:47 AM, Jul 29, 2011
Geneva: It's official now - Indians hold about $ 2.5 billion (over Rs 11,000 crore) in Swiss banks, but this figure of Switzerland's central bank may be a gross understatement of the total wealth directly and indirectly held there by entities from India. The ever-growing judicial scrutiny and political outcry over alleged stashing of black money in Swiss banks also seems to be forcing Indian entities to move their monies...
07:31 AM, Jul 25, 2011
New Delhi: Market watchdog SEBI has sought the Government's permission to tap phones during its probe into suspected financial irregularities in its third such request in less than three years. The latest request has been made by SEBI Chairman UK Sinha after his predecessor CB Bhave failed at least twice in his attempts to secure an authorisation for SEBI to tap phone for its surveillance and investigative actions. In his...
05:02 PM, Apr 11, 2011
Mumbai: UK-based Vedanta Group on Tuesday said it has received market regulator SEBI's nod for a $9.6 billion deal to acquire a 51 per cent stake in Cairn India and will launch an open offer soon. "We have already received SEBI's approval for an open offer. The issue will open very soon. Within the next one to two days, we will send out the mails regarding this to all concerned,"...
01:59 PM, Apr 05, 2011
New Delhi: Market regulator SEBI has cleared the acquisition of Cairn India by NRI billionaire Anil Agarwal-led Vedanta Resources, removing a major hurdle for the $ 9.6 billion dollar deal announced about seven months ago. The deal was announced in August 2010 and has since then been awaiting approvals from SEBI and the government. The government is yet to approve the deal, wherein British energy giant Cairn Energy agreed to...
04:28 PM, Mar 14, 2011
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