SEBI : To check Insider trading, R 8(1) of the Regulations states that the Board of Directors of every listed company shall lay down and ...
SEBI : 1. Introduction The new Regulations aim at strengthening disclosure at different stages to ensure transparency for an orderly secu...
SEBI : 1. Introduction Stock market is all about dealing in securities. It is a specialized market. Stock markets are formed under the ...
SEBI : Business needs capital which promoters arrange. Since promoters conceive the idea of the business, bring in fund, human capital th...
SEBI : S 12A (d) of the SEBI Act, 1992(`ACT’) prohibits insider trading securities in the securities market. S 15 G of the Act lays dow...
Indian Premier League (IPL) and cricket have generated public interest on the subject, `sweat equity ‘shares issue. Survey reveals, very few people have clear idea on the procedure of issue of sweat equity shares. What caused hue and cry is the subject of surrender of sweat equity shares issued to Sunanda Pushkar( `PUSHKAR’) in Rendexvous Sports Word ( `RSW’), stakeholder in IPL Kochi. RSW is an unlisted company.
The episode on Unit linked Insurance Plans (Ulips) started on 9th April, 2010 when SEBI issued notice u/s 11 of the SEBI Act, 1992 to the 14 life insurance companies namely, Aegon – Religare, Aviva, Bajaj Allianz Life Insurance, Bharti AXA, Birla Sun Life, HDFC Standard Life, ICICI Prudential, ING Vysa Life, Kotak Mahindra Old Mutual Life, Max New Life, Metlife India, Reliance Life, SBI Life and Tata AIG Life, banning them from selling Ulips. This surprised all particularly when the insurance regulator had approved the scheme.
Notification dated 28th August, 2009 issued by the Ministry of Corporate Affairs (`MCA’) repealed the Monopolies and Restrictive Trade Practices Act, 1969(`MRTP ACT’) with effect from 1st September, 2009. The repealed Act was replaced by the Competition Act, 2002 (`COMPETITION ACT’) as amended by the Competition (Amendment) Act,2007.
The Legal Services Authority Act, 1987 (`LSA’) was enforced with effect from 9th November,1995 after certain amendments were introduced by the Amendment Act of 1994 to the main act. The Act provides for scope of legal aid support for the economically weak, backward section and disabled persons . Legal Aid scheme was introduced by Justice P.N.Bhagawati under the Legal Aid Committee formed in 1971.
19th November, 2009- it is just another day like any other day. But to the nation it is the 92nd Birth Anniversary of Indira Gandhi who was not only our Prime Minister but a mass leader who moved the nation ahead by her pragmatic approach. She was a lady who mesmerized one and all by her iron will and leadership qualities. It was under her leadership that India earned consolidated position world wide.
It was the then wandering monk, Swami Vivekananda who instilled the idea of a steel plant in India in the then merchant Jamshedji N. Tata during their journey in a ship together form the port of Oklahama in Japan to Boston in USA. The first steel plant in the country came up at Jamshedpur in the year 1912 under the entrepreneurship of Jamshedji N. Tata.
Need for having separate laws meant for the securities market surfaced in the late eighties which became a reality in early nineties. Orderly development and protection of investors became the objective of the Government without which the capital market would not develop.
On 30th March, 2010 Standard Chartered Plc (`STANCHART’) filed its draft Red Herring Prospectus with SEBI for its proposed IDR issue. Lead Managers to the issue includes UBS Securities India Pvt. Ltd., Godman Sachs (India) Securities Pvt. Ltd, JM Financial Consultants Pvt. Ltd., DSP Merrill Lynch Ltd., Kotak Mahindra Co. Ltd., and SBI Capital Markets Ltd. Documents were filed through lead managers.
Question is whether the provisions of the Companies Act are adequate in dealing with promoters in unlisted companies? Possibly no. There is no clarity on the subject. It is time to look into this aspect in the future Companies Act in the making which is in the bill stage.
Issue Price – Final Price at which Equity Shares are issued and allotted in terms of the Red Herring Prospectus. Issue Price is decided by the Company in consultation with the Book Running Lead Manager on the Pricing Date.
