Market regulator Sebi today warned investors that two Sahara Group companies have been raising funds without its approval and said it will not be able to redress any complaint in this regard. The regulator, in a public notice, said investors of Saha
The words ‘belonging to’ have to be read along with the Explanation of section 4 and under this Explanation the expression ‘transfer’ includes any agreement or arrangement. The assessee, in the instant case, was allotted the land by the State Government. It constructed sheds thereupon and rented out the same and derived income therefrom. The sheds were, therefore, under the domain and control of the assessee. Even if legal ownership had not passed to the assessee, the property in question belonged to it. The assessee was deriving rental income and collecting the same which itself showed that it was the assessee to whom the property belonged.
Two flats purchased by the assessee were situated side by side. Builder also stated that he had effected modifications to the flats to make them one unit by opening the door in between the two apartments. The fact that the assessee could not have purchased both the flats in one single sale deed or could not have narrated the purchase of two premises as one unit in the sale deed could not make any difference.
The Supreme Court today said Sebi was entitled to seek all necessary information from two Sahara group firms on how resources were being raised but refused to stay the companies’ ongoing fund-mopping exercise. The apex court was hearing market regula
Capital market regulator the Securities and Exchange Board of India (Sebi) has imposed a fine of Rs 25 lakh on local investment bank Enam Securities saying the firm failed to exercise due diligence and did not ensure adequate disclosures in the publi
SEBI has challenged in the Bombay High Court an order of the Central Information Commission to make public action taken by it on a complaint against Reliance Industries Ltd in the year 2000 on the sale of 12 crore shares for the benefit of its promot
Shareholding pattern prior to listing of securities Entities which seek listing of their securities post-IPO shall mandatorily submit their shareholding pattern as per Clause 35 of the LA one day prior to the date of listing. The stock exchanges sha
The Securities and Exchange Board of India (Sebi) chairman CB Bhave on Friday said regulating bigger entities is a greater challenge for regulators worldwide. While addressing a function in Mumbai, Sebi chief said bigger entities have more ‘persuasiv
Stock market regulator SEBI has restrained five more companies along with their directors for failing to redress investor grievances with immediate effect on Monday. They are D R Softech & Industries Ltd, Nexus Software Ltd, Prakash Fortan Softech Lt
The investigation wing of the competition watchdog CCI is believed to have recommended action against the National Stock Exchange (NSE) for abusing its dominant position in currency derivatives trade segment. “…it is concluded that NSE has abused
