New Delhi: The Securities and Exchange Board of India (SEBI) has ordered the freezing of the voting rights and corporate benefits of over 105 private firms. These private firms have failed to meet the minimum public shareholding requirement.
The private firms, have faltered in attaining the minimum 25 per cent public shareholding requirement. The SEBI said the companies failed to meet the norms within the stipulated deadline of June 3, despite repeated reminders and various relaxations.
They have also warned the companies of further actions like levy of monetary penalties, initiation of criminal proceedings. Seventy two of these 105 companies have their stocks being traded regularly in the market while the rest have already been suspended for a variety of reasons.
In response to SEBI's action, Emaar MGF has released a statement where they have said, "We have not received any communication from the government authorities and hence we are not in a position to comment. We emphasise that the company continues to uphold the highest standards of corporate governance and follows the laws of the land."...
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08:46 AM, Jun 05, 2013
Mumbai: The Securities and Exchange Board of India (SEBI) said on Thursday it would increase the number of stocks that are allowed to be used for borrowing and lending, thus relaxing short-selling rules. SEBI said it would allow stocks that meet several criteria, including average monthly turnover of at least RS 1 billion, to be used under the country's securities lending and borrowing (SLB) programme. The SLB programme was launched...
07:10 PM, May 30, 2013
New Delhi: In the high profile Sahara case involving over Rs 24,000 crore raised through "various illegalities", market regulator SEBI has begun the process of refund to individual investors who have been verified by it. The money is being refunded only in those cases where SEBI has not found any multiplicity during its verification process. Refund for others will have to wait till the next direction from the Supreme Court,...
05:17 PM, May 14, 2013
New Delhi: With lakhs of investors believed to have been defrauded by Ponzi schemes in West Bengal, Securities and Exchange Board of India (SEBI) chairman UK Sinha on Wednesday said there should be a single regulator for all collective investment schemes, including chit funds. "Within the powers given to us, SEBI is working extremely hard to ensure that savings of small investors are not put to risk," he added. Sinha,...
12:28 PM, May 01, 2013
Market regulator SEBI on Friday moved the Supreme Court seeking detention of Sahara group promoter Subrata Roy Sahara and barring him from leaving the country after two companies of the group failed to comply with court's order to refund Rs 24,000 crore to its investors. ...
11:25 PM, Mar 15, 2013
The Securities and Exchange Board of India has moved the Supreme Court, asking for the detention of Sahara Group Chairman Subrata Roy for not following the court's orders. Two companies of the Sahara Group were ordered to refund Rs 24,000 crore to subscribers. ...
02:48 PM, Mar 15, 2013
The Securities and Exchange Board of India (SEBI) cracked down on the Sahara Group and on Wednesday froze accounts of Sahara India Real Estate Corporation and Sahara Housing Investment Corporation. ...
07:27 AM, Feb 14, 2013
New Delhi: The Sahara Group found itself in trouble on Saturday after market regulator Securities and Exchange Board of India (SEBI) issued a public warning to bond holders of two of its companies. The notice said that SEBI had received complaints from investors that they were being forced by Sahara agents to forcefully switch to some of its other schemes like the retail scheme Sahara Q Shop. The notice further...
12:24 PM, Oct 27, 2012
New Delhi: Taking a tough stand on insider trading and other serious offences, market regulator SEBI on Friday decided to exclude these violations from the consent order, a window available for settling disputes on payment of a fee. The modified guidelines, issued by the Securities and Exchange Board of India (SEBI), also said that this window will only apply for offences committed two years prior to submission of application to...
07:06 AM, May 26, 2012
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) on Monday said India Inc mobilised only Rs 791.8 crore in the primary market through five issues during February, 2012, registering a decline of 93.5 per cent over the previous month. Corporates had mobilised Rs 12,126.6 crore through four issues in January. "During February, 2012, Rs 791.8 crore was mobilised in the primary market through five issues as compared to...
10:43 PM, Apr 16, 2012
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
PricewaterhouseCoopers have written a letter to the new board of Satyam. ...
03:02 PM, Jan 14, 2009
The chartered accountants institute is yet to issue a show cause notice ...
08:45 AM, Jan 09, 2009
The Tribunal has stayed Sebi’s disgorgement orders against 10 entities for their alleged role in IPO scam. ...
05:22 PM, Jan 12, 2007
