The volatility index jumped 6 per cent to end at 12.45, reflecting heightened nervousness.
The regulator said it has been receiving various references from listed firms regarding violations related to code of conduct.
"This circular shall be applicable with respect to the financial results for the quarter ending September 30, 2019 and after," Sebi said.
Sebi has sought public comments to the proposals by August 8.
A penalty of Rs 15 lakh was levied on Kelvin Fincap, formerly known as Dahyabhai Sons.
Govt-owned cos are laggards in raising minimum public shareholding level to the 25% norm.
Markets regulator Sebi Thursday proposed stricter disclosures, including detailed reasons, on resignation of auditors, amid rising instances of auditors quitting companies. Besides, an auditor would have to provide appropriate disclaimer in case of auditor's resignation is due to non-receipt of information from the company concerned. The regulator also proposed to further strengthen and clarify the role of audit committees of the listed firms. Sebi came out with proposals as it found that resignation of an auditor before completion of the audit of financial results for the year hampers investor confidence and leaves investors with lack of reliable information for making their financial decisions.Sebi proposes tighter disclosure on auditor resignation
The changes made in the disclosure norms are "in line with the revised RBI requirements," the regulator said in a circular dated July 17.
The proposals revolve around strengthening disclosures to investors and strengthening and clarifying role of the audit committee.
Securities and Exchange Board of India (Sebi) chairman Ajay Tyagi has written to finance minister Nirmala Sitharaman, saying budget proposals requiring the transfer of the regulator’s surplus funds to the Consolidated Fund of India (CFI) and prior government nod for its annual capital expenditure plans will affect the entity’s financial autonomy, said a person familiar with the development.SEBI chief reignites autonomy debate over sharing surplus funds to govt
The board of InterGlobe Aviation Friday discussed a "range of issues", including appointment of a woman director, and the meeting will continue on Saturday, company's CEO Ronojoy Dutta said.
The amendment proposed to the Sebi Act, as part of the Budget, to require Sebi to take the government’s permission for making capital expenditure, does curtail the regulator’s autonomy.
The budget proposes that Sebi take government approval for its annual capital expenditure.
India's biggest airline by market share said its profit soared to Rs 1,203 crore for April-June quarter.
The total IPO size is about Rs 200-225 crore, according to market sources.
CEO Ronojoy Dutta said that this was the highest-ever profit reported by the company.
The role of five CRAs- CARE, Icra, India Ratings, Brickwork and CRISIL have been under review.
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SEBI had asked listed companies to submit compliance report on corporate governance in a prescribed format.
GKS Properties was one entity which executed reversal trades, Sebi said in an order.
Gangwal has flagged concerns about related-party transactions involving IGE Group and the allegations have been refuted by the Bhatia camp.
The founders of Mindtree will stay on to stabilise and grow the business.
Many debt mutual fund investors wanted to shift from liquid funds to overnight funds after a series of downgrades hit liquid funds.
During 2018-19, 47 warning letters and 24 deficiency letters were issued to mutual funds/ Asset Management Companies.
Up until recently, India only allowed DVRs with lower voting rights.
Grant Thornton in its report pinpoints a Real Madrid match, property deal and contribution to a trust.
The new promoter has got a habit of under-promising future numbers and over-delivering.
This is where the Jalan panel’s recommendation, that the funds transfer be phased out over three to five years, comes in.
Apart from these seven Acts, the government would also be bringing changes to seven laws related to direct taxation.
Of the 26 deviations, stock exchanges took penal action against five companies for six lapses.
The development comes after SBI’s compliance auditor issued “modified” opinions on seven issues.
The Uday Kotak-led board of the group had appointed Grant Thornton to conduct forensic audit.
Industrials and materials sector companies could see the biggest weight increase.
Scrip was down 4.35% at Rs 867.30 at around 9.40 am (IST), while BSE Sensex was trading 100 points.
India's fourth-largest software company reported 12.58% YoY rise in net profit.
IndiGo instructed to submit all documents, including EY report on related-party transactions.
In his absence, the company has appointed T.N. Arun Kumar, now executive director (Ratings), as an interim CEO of the company.
Sebi generates revenue from the fee levied on market participants for services rendered to them.
Most of the FPIs using trust structure are from the US and Luxembourg.
Fund managers believe the RBI has to cut interest rates sharply by another 50 bps.
Sitharaman says fears of capital flight due to higher tax surcharge baseless.
Legal experts said the move is unlikely to have any significant impact on Sebi’s finances.
Spat between co-founders and promoters escalated after alleged violation of corporate governance rules.
Market regulator SEBI is probing whether InterGlobe Aviation Ltd Chief Executive Officer Ronojoy Dutta downplayed the tussle between the promoters of the country's largest carrier IndiGo, ET Now reported on Thursday, citing sources. The spat between co-founders and promoters Rakesh Gangwal and Rahul Bhatia escalated after Gangwal on Tuesday alleged violations of corporate governance rules at the parent group and asked the Securities and Exchange Board of India (SEBI) to intervene. Responding to the allegations, SEBI had sought a reply from InterGlobe by July 19.IndiGo CEO downplayed promoters’ tiff? SEBI to probe
JM Financial has maintained buy rating on HDFC Asset Management Company with a revised target price of Rs 2,200.
Five entities "indulged in execution of reversal of trades in stock options segment of BSE.
Half a dozen cos are likely to hit market next month, bringing to an end the dry spell in IPOs.
Sequentially, the profit was down 3.86 per cent over the March quarter's Rs 2,483.50 crore.
With promoter spat intensifying, Sebi & corporate affairs ministry dig deep into allegations.
Focused funds typically have concentrated portfolios of 25-30 stocks.
Gangwal listed out certain serious concerns regarding governance matters at IndiGo.
The Securities and Exchange Board of India (Sebi) levied a penalty of Rs 10 lakh on Purshottam Khandelwal.
The govt has asked Sebi to probe role of all board members and every entity linked to promoters' groups.
Korp has violated provisions of Prohibition of Fraudulent and Unfair Trade Practices Regulations.
Banking and PSU debt funds are open-ended debt schemes predominantly investing in debt instruments of banks, public sector undertakings and public financial Institutions.
The market regulator had proposed certain changes in debt mutual funds to reduce the risk inherent in them.
Wipro expects revenue from its IT services to be in the range of $2,039-2,080 million in Q2.
Today the question to ask is why right now? What is it that he is looking for?
MFs have refused to back the inter-creditor agreement to save DHFL alleging it's unfair to them.
InterGlobe Aviation has come under intense regulatory scanner and there are indications of multiple violations of Sebi norms.
The feud between IndiGo’s promoters took a serious turn Tuesday with Rakesh Gangwal seeking an intervention from the capital markets regulator to resolve his “alleged grievances”. India’s biggest airline by market share said in an exchange filing that Gangwal had informed the company board about his communication to SEBI. The company didn’t specify the contents of the letter. The airline’s CEO Ronojoy Dutta separately declined to comment.IndiGo promoters’ fight turns ugly; Gangwal seeks Sebi’s intervention
Gangwal in a letter to Sebi has alleged “collapsing corporate governance standards” at IndiGo.
The court adjourned hearing in the matter till Thursday, when it will be taken up for hearing again.
ITC is seeking a waiver on equity-ownership threshold to be eligible to file a case against the embattled provider of luxury leisure accommodation.
Group of Ministers led by Home Minister discussed the revival of loss-making MTNL.
Domestic hedge funds have taken seven years to reach $6 billion in investment commitments.
Debt mutual funds indeed earned bad names for themselves in the last one year. The recent fiascos have caught the attention of Sebi as well.
The IPO will be an OFS by the Chairman Khurshed Yazdi Daruvala and Shapoorji Pallonji and Company.
Auditors of crisis-hit DHFL have sought more information from the company's management.
In its charge sheet filed in a Mumbai court in the IL&FS Financial Services (IFIN) case, the SFIO said that timely intervention by RBI could have detected the crisis earlier.
Due to interoperability, expect upside in commodities, equity derivatives & equities, says BSE MD & CEO.
In all these CPSEs there is a scope for further government stakes to be lowered.
Sebi has proposed changes that will ensure liquid funds stick to their mandate of utmost safety and liquidity.
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The trades were put on hold by the Supreme Court last week.
Robust regulatory mechanism is required to monitor financial reporting and governance compliance.
Legal experts believe that the fierce battle at IndiGo may not end up at Sebi alone.
This is the highest number of demat accounts added in a year since 2011.
Thakur said it was high time that India becomes a price setter than price taker.
The companies which are lined up for IPO include THDCIL, RailTel, TCIL, Water & Power Consultancy Services and FCI Aravali Gypsum.
The matter has also brought forth some grey areas in the current regulations on trade annulment.
Sebi may only be able to review whether preferential rights are against the interest of minority shareholders.
The new proposal, if implemented in a calibrated manner, is good news for investors and lenders.
The Budget proposals have increased the chances of an over supply of PSU stocks in the market.
At present, there are over 1,400 listed companies where promoters had over 65 per cent stake.
Sebi also expressed its disapproval of the so-called standstill agreement that mutual funds have reached with the indebted Essel Group.
Legal experts said SAT has been proactive in providing relief to aggrieved parties of late.
Government is considering some relief for FPIs from the super-rich surcharge levied in the budget.
That could be a good move though it does not benefit anyone too much, says the brand expert.
Plans to increase disclosures and widen the definition of encumbrance.
Risk aversion has increased in India in the light of frequent credit rating downgrades.
UPI is an instant payment system developed by the National Payments Corporation of India.
Metalyst Forgings Ltd was the promoter of Castex Technologies Ltd at the the time of violation.
Currently, FPIs submit only information of their beneficial owners (BO) to Sebi.
L&T launched an open offer for 31 per cent of Mindtree. It aims to take its holding to 66 per cent.
Sunil Chordia Family Trust and Sangita Chordia Family Trust had sought exemption from the obligation of making an open offer.
It is a fight on issues of management, corporate governance, independence of directors and of course issues like related party transactions.
KPR Mill on April 30, 2019 had announced plans to buy back 37,50,784 shares for Rs 263.31 cr.
Liquid funds can invest in debt and money market securities with maturity of upto 91 days only.
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