SEBI

  • Ponzi schemes: Lawmakers quiz regulators, ministry officials 5 days ago

    New Delhi: Lawmakers on Thursday quizzed officials of RBI, SEBI and the government about the steps being taken to avoid recurrence of fraudulent moneypooling activities like Saradha scam. The Parliamentary Standing Committee on Finance's meeting comes against the backdrop of CBI probing the Saradha scam in which thousands of crores or...
  • Saradha scam: SFIO completes probe, says 14 firms were running 'ponzi schemes' September 15, 2014

    New Delhi: The Serious Fraud Investigation Office of the Ministry of Corporate Affairs on Monday completed its probe into the multicrore Saradha scam and said 14 firms were running 'ponzi schemes'. Investigations have revealed that primary source of payments to subscribers was collections made from newly enrolled members rather than...
  • Sebi chief UK Sinha launches Indian Crossword League September 14, 2014

    Mumbai: A group of enthusiasts on Sunday launched the second edition of the Indian Crossword League or IXL 2014, which will involve a combination of online and offline puzzlesolving contests. The contest, which is open for Indians across the globe, will culminate on December 21, the 101st anniversary of the crossword,...
  • PACL to move Tribunal against Sebi order August 22, 2014

    New Delhi: Facing a Sebi order with charges of running an illicit money pooling scheme worth about Rs 50,000 crore, PACL Ltd on Friday said it will approach the Securities Appellate Tribunal against the directive of the capital markets regulator. "Sebi has unfortunately failed to recognize the submissions of the company...
  • Sebi cracks down on Rs 50,000 crore moneypooling scheme August 22, 2014

    New Delhi: In its biggestever crackdown on a largescale illicit money pooling scheme estimated at nearly Rs 50,000 crore, regulator Sebi on Friday ordered immediate closure of unauthorised collective investment schemes run by PACL Ltd and refund of investors' money within three months. Besides, the capital markets regulator also said it...
  • Arun Jaitley asks SEBI to guard against market violations August 10, 2014

    New Delhi: Finance Minister Arun Jaitley on Sunday asked market regulator Securities and Exchange Board of India (Sebi) to be vigilant against possible market violations, while focusing more on attracting retail investors and addressing their grievances. "The minister advised Sebi to remain vigilant about probable violations in the market, focus more...
  • Bring more retail investors to market: Jaitley to Sebi August 10, 2014

    New Delhi: Pitching for greater transparency in rulemaking and other functions of regulators, Finance Minister Arun Jaitley on Sunday asked Sebi to work towards attracting more retail investors to the capital markets. Addressing the board of the capital markets regulator, Jaitley also asked Sebi to consider new measures to address issues...
  • Sebi bars two firms for raising funds illegally via securities August 8, 2014

    Mumbai: Sebi on Friday barred Falkon Industries India and Ravi Kiran Realty India and from raising funds through issue of securities and has also barred the companies and their respective directors from dealing in the securities market, till further directions. The capital market regulator found that Falkon Industries India had raised...
  • Judicial Appointments Bill in parliament likely next week July 29, 2014

    New Delhi: Government is considering bringing the Judicial Appointments Bill in Parliament next week after consultations within the party. According to sources, the government is initiating discussions within to bring the new bill for appointments in the judiciary to help bring transparency in the process of judicial appointments. The issue gained...
  • 50 HIVpositive children win hearts with entertaining stage show July 28, 2014

    Some 50 HIVpositive children danced to a medley of Bollywood songs through the ages and staged an impressive play to a packed auditorium in Jaipur over the weekend, as their adopted home, nonprofit Rays Aasha Ki Ek Kiran, celebrated its annual day. The 45minute satirical play, entitled "Muhammad Bhai ki Jootiyan"...
  • Sahara chief seeks SC permission to shift to Tihar guest house July 25, 2014

    New Delhi: Sahara chief Subrata Roy, currently in jail on charges of investor fraud, wants to shift into a guest house in Tihar Jail. He has moved the Supreme Court for the same saying he needs to hold negotiations to sell his assets in India and abroad to meet his...
  • Sebi orders demat, bank account freeze in Mega Corporation case July 15, 2014

    Mumbai: Market watchdog Sebi has ordered attachment of bank and demat accounts of five individuals to recover dues worth over Rs 1.66 crore in Mega Corporation case. The Securities and Exchange Board of India (Sebi) has to recover Rs 40.95 lakh from Vivekanand Patankar, Rs 40.71 lakh from Deepak Narvekar, Rs...
  • Market watchdog Sebi opens office in Lucknow July 4, 2014

    Market watchdog Sebi on Firday opened an office in Lucknow as part of its efforts to reach out to investors and intermediaries. The new office will cater to regulatory aspects of investor protection among other issues. Rajeev Kumar Agarwal, Whole Time Member of Sebi, inaugurated the Lucknow office, in the presence of...
  • Subrata Roy urges SC to show 'mercy' by granting interim bail July 4, 2014

    New Delhi: The Supreme Court on Friday reserved its order on interim bail plea of Sahara chief Subrata Roy who pleaded to the court to show 'raham'(mercy) and allow him to come out of jail to sell off his properties to deposit Rs 10,000 crore with SEBI as directed to...
  • SC seeks SEBI's response on Sahara's plea to sell overseas hotels July 4, 2014

    New Delhi: The Supreme Court on Thursday asked market regulator SEBI to respond to Sahara group's plead to permit it to sell its three overseas hotels to mobilise Rs.10,000 crore as a part repayment of investors money raised by its two companies a condition for the release of jailed...
  • IT moves SC with a tax demand of Rs 4,800 crore from Sahara July 3, 2014

    New Delhi: There seems to be more trouble for the Sahara Group as the Income Tax department has now approached the Supreme Court with a tax demand of Rs 4,800 crore for the last 3 years. This comes even as Sahara chief Subrata Roy has sought an interim bail of...
  • Sebi chief to meet Arun Jaitley on Thursday July 2, 2014

    New Delhi: Days ahead of the Budget, Sebi chairman U K Sinha will meet Finance Minister Arun Jaitley on Thursday and is likely to suggest steps to improve investment climate with a view to garner household savings in capital market. In his presentation, sources said Sinha will press for measures...
  • Rs 3,117 crore deposited with SEBI: Sahara to SC June 30, 2014

    New Delhi: The Sahara group on Monday filed an affidavit in the Supreme Court stating it has deposited Rs 3,117 crore so far with SEBI and that it is trying to raise more money to meet the condition of paying Rs 5,000 crore to get bail for its chief Subrata...
  • Sebi board to meet tomorrow; slew of reform measures on agenda June 18, 2014

    New Delhi: Capital markets regulator Sebi is set to announce a slew of measures, including IPO and Offer for Sale reforms, to give a boost to the primary markets and make it easier for companies to raise funds. These issues, along with new guidelines for research analysts, common Know Your Client...
  • Jaitley underlines need to lower cost of business to up growth June 8, 2014

    Mumbai: Ahead of the union budget, Finance Minister Arun Jaitley met financial sector regulators in Mumbai on Saturday. The meeting was to discuss the current financial and economic indicators. The meeting was also to take up suggestions on the forthcoming policy of the goverenment. Jaitley has been holding a series...
  • Sebi orders banks to defreeze indvidual bank accounts June 3, 2014

    Mumbai: Sebi on Tuesday asked banks for defreezing bank and demat accounts of one D V Sekhar as the market regulator recovered Rs 1 lakh due from defaulter. The Securities and Exchange Board of India (Sebi), on January 15 this year, had attached bank and demat accounts of Sekhar to recover...
  • SC to pronounce order on Wednesday on fresh plea of Sahara chief June 3, 2014

    The Supreme Court is likely to pronounce on Wednesday its verdict on a plea of jailed Sahara Group chief Subrata Roy seeking modification of an earlier order asking him to pay Rs 5,000 crore in cash besides a bank guarantee of an equivalent amount for securing his release. A bench of...
  • Andhra Pradesh HC verdict on Sun PharmaRanbaxy merger plea on Saturday May 23, 2014

    Hyderabad: The Andhra Pradesh High Court will on Saturday decide on the petition filed by two investors requesting it to restrain the BSE and NSE from giving any clearance to the scheme of amalgamation or merger between Sun Pharma and Ranbaxy. After hearing the arguments from the counsels of the petitioners,...
  • SC asks Andhra HC to decide on RanbaxySun Pharma merger May 21, 2014

    New Delhi: The Supreme Court on Wednesday asked the Andhra Pradesh High Court, which had passed an interim order staying the $4 billion merger of Ranbaxy with Sun Pharma, to decide the issue within two days. Hearing appeals filed by Sun Pharmaceutical, Ranbaxy Laboratories and Daiichi Sankyo Company against HC interim...
  • Setback for Sahara chief, SC refuses to put him in house arrest May 19, 2014

    New Delhi: The Supreme Court on Monday rejected Sahara Group chief Subrata Roy's bail plea, refusing to convert his custody into house arrest. The apex court asked Sahara to come out with a concrete proposal to refund the money of crores of investors from whom the company allegedly illegally raised...
  • Sahara case: New bench constituted, matter to be taken up on May 19 May 17, 2014

    New Delhi: A new bench has been constituted in the Supreme Court to hear the Sahara case which will take up the matter on May 19. The new bench comprising justices TS Thakur and AK Sikri was set up after JS Khehar recused himself from hearing the matter. The entire case...
  • Sahara case: Days after SC judge claims pressure, another recuses himself May 15, 2014

    New Delhi: Days after Justice KS Radhakrishnan, one of the two Supreme Court judges handling the Sahara case, said that the bench faced tremendous pressure while dealing with the proceedings, the other judge has recused himself from the trial. Justice JS Kehar did not give any reason for the recusal....
  • Legal expert, bank officer to help CBI probe into Saradha chit scam May 14, 2014

    New Delhi: In a bid to expedite its probe into over Rs 10,000crore Saradha chit fund case, CBI has assigned a bank officer and a legal expert with the Special Investigating Team (SIT) for the case. CBI Director Ranjit Sinha also held his first meeting last evening with the SIT...
  • Authorities keep vigil on stock market as exit polls pour in May 12, 2014

    New Delhi: With exit polls predicting victory for the NDA in the elections, investors and market authorities are keeping a close watch on stock markets to guard against excessive volatility. The BSE benchmark Sensex on Monday closed at a new high of 23,551 points while NSE...
  • CBI examines exSebi chairman CB Bhave in MCX case May 12, 2014

    New Delhi: The Central Bureau of Investigation on Monday quizzed former Securities Exchange Board of India (SEBI) Chairman CB Bhave in connection with granting sanction to Jignesh Shahfounded Financial Technologies (India) and MCX to function as a fullfledged private stock exchange. Bhave was examined in Bangalore by a team of CBI...