SEBI : Explains the ruling that compliance officers cannot be penalised for financial misstatements without clear legal duty or proof of ...
SEBI : Explore the impact of the redesignation of independent directors in the SAT ruling - SecureKloud Technologies Limited vs. SEBI. A ...
CA, CS, CMA : It is ripe time for ICAI to take initiative and show leadership in conveying and educating the investors, regulators and other sta...
SEBI : Enclosed is the list of minimum periodic compliances to be done by a Listed Entity pursuant to the provisions of the Companies Act...
SEBI : Comparative analysis between listing agreement and Chapter IV of SEBI (Listing Obligations and Disclosure Requirements) Regulation...
SEBI : NEW DELHI: The Supreme Court today directed Sahara Group firm Sahara India Real Estate Corp to approach the Securities Appellate T...
Finance : Telecom tribunal TDSAT today asked another new operator Videocon Telecom to pay 60 per cent of Rs 12.45 crore penalty slapped on i...
SEBI : The Union Cabinet today approved amendments to the Forward Contracts (Regulation) Act 1952 by introducing the Forward Contracts (...
SEBI : Takeovers are set to get costlier with a Sebi panel favouring making it mandatory for the acquirer to make an offer for up to 100 ...
SEBI : The market watchdog Sebi today moved the Supreme Court challenging the decision of the appellate tribunal SAT that held that finan...
SEBI : Explore recent SAT verdict in 20 Microns Limited v. BSE Limited case on Regulation 17(1A) of LODR. Learn about implications and a ...
SEBI : Dive into the Shreehas P Tambe vs. SEBI case, exploring insider trading regulations, violations, legalities, and the significant ...
SEBI : Regulation 17(1A) is not applicable for the purpose of filling up a casual vacancy under Section 161(4) of the Companies Act. Reg...
SEBI : In the present case, the appellant neither put a plea of prejudice before the AO nor before us. It was simply stated that since th...
SEBI : Advance Lifestyles Ltd. Vs BSE Ltd. (Securities Appellate Tribunal) Appellant made a representation to the authorities requesting ...
The Union Cabinet today approved amendments to the Forward Contracts (Regulation) Act 1952 by introducing the Forward Contracts (Regulation) Amendment Bill, 2010 in the Parliament. After the Bill is passed and enacted by the Parliament, Forward Mark
Takeovers are set to get costlier with a Sebi panel favouring making it mandatory for the acquirer to make an offer for up to 100 per cent stake in any listed company.As of now, an open offer for a minimum of 20 per cent in the target company is required to be made by any entity that has purchased 15 per cent equity, either from the promoters or from the open market.
The market watchdog Sebi today moved the Supreme Court challenging the decision of the appellate tribunal SAT that held that financial investors like PEs and VCs do not acquire controlling stake in a company by just picking up more equity.
MSK Projects India Limited (‘MSK’ or ‘the Target Company’), issued and allotted fully paid-up equity shares to Subhkam Ventures (I) Private Limited (‘Subhkam’), erstwhile Subhkam Holding Private Limited, on preferential basis representing 17.90 percent of the post preferential issued share capital of MSK (out of total issue of 19.91 percent). A Share Subscription and Shareholders Agreement (‘the Agreement’) was executed between Subhkam, the existing promoters of MSK and MSK to govern the investment made by Subhkam in MSK.
The Securities and Exchange Board of India (SEBI) has never been armed with stronger draconian powers over the fate of Indian citizens. A recent opinion of the Supreme Court has held SEBI to be a social welfare organisation, and its powers under Sections 11(4) and 11B of the SEBI Act, 1992 (the Act) as not being “penal” in nature. Consequently, SEBI can issue directions to any person using these powers, even in relation to matters that occurred when these powers did not exist in the Act.
Pledge of shares is a common practice adopted in the securities market by investors and intermediaries to raise finance. Banks and financiers have their own method of advancing money in pledge transactions. They keep a margin against the quotations of the shares. S 172 of the Indian Contract Act, 1972 defines pledge as bailment of goods for payment of debt or performance of promise.
We have carefully perused the show cause notice which was common to all the six entities including the appellant who were alleged to have acted in concert with each other in the acquisition of the shares of the target company. Apart from making a bald assertion in para S of that notice that all the notices were acting in concert, there is nothing else in the show cause notice to suggest that the appellant was acting in concert with the other notices.
The tribunal has set a wrong precedent by arrogating to itself the power vested in it, said Sebi. The tribunal had directed the Bombay Stock Exchange (BSE) to grant in-principle approval to the issue, allotment and listing of shares issued by a market participant to its promoters on a preferential basis. It was, however, rejected by BSE.
The Securities Appellate Tribunal (SAT) has set aside charges of insider trading against Dilip Pendse, former managing director of Tata Finance, and his wife Anuradha Pendse and Nalini Properties. “The charges of insider trading against Dilip Pendse, his wife Anuradha Pendse and Nalini Properties, a company controlled by Anuradha’s family, have been set aside by SAT,” Dilip Pendse’s advocate V M Singh said.
Capital market regulator Securities and Exchange Board of India (Sebi) has asked the finance ministry to revoke a rule that bars Sebi officials sitting as members at the Securities Appellate Tribunal (SAT), which hears appeals against Sebi orders, a Sebi official said.
