BUSINESS
We continue to be optimistic about the potential of transmission sector: IndiGrid
Harsh Shah, Chief Executive Officer, IndiGrid, spoke to Moneycontrol on the rights issue, future plan of the company, amendment to Sebi regulations and the potential of InvITs and Real Estate Investment Trusts. IndiGrid is now planning a rights issue that will open on April 6 and close on April 13.
BUSINESS
Sebi tweaks rules for delisting, sustainability reporting and startups
Sebi’s board has approved a series of measures, which make it easier for startups to go public, introduced new norms that make delisting of shares more transparent, and introduced sustainability reporting by companies.
BUSINESS
CBI books DHFL promoters for creating over 2.6 lakh fake home loan accounts
The case registered by CBI is against promoters of DHFL Kapil Wadhawan and Dheeraj Wadhawan who are already facing two other cases by CBI in the Yes bank scam and UP power Corporation scam.
BUSINESS
Sebi board set to have an action-packed meeting on March 25
Items that could be on the agenda include a revamp in delisting regulations, de-classification of promoters, shareholding norms for Market Infrastructure Institutions and discussions on an innovation growth platform.
BUSINESS
MCA orders inspection of Edelweiss Asset Reconstruction Company’s books after whistleblower complaint to PMO
Paras Kuhad, a former additional solicitor general of India and 14 percent shareholder in EARC along with his family, has alleged that controlling shareholders diverted at least Rs 1,800 crore from the asset reconstruction firm; the company has strongly denied any wrongdoing.
BUSINESS
Sebi may direct exchanges to operate from DR site within 45 minutes if tech glitch halts trading
All main exchanges have an alternative base of operation called DR site to help them conduct operations seamlessly during an emergency.
BUSINESS
Enforcement Directorate conducts searches on real estate player Shivalik Group
An Enforcement Directorate team from Delhi searched more than a dozen places on March 4.
BUSINESS
Enforcement Directorate launches money-laundering investigation against Franklin Templeton
ED will probe if Franklin Templeton officials sold their investments and made unlawful gains just before the AMC closed six debt mutual fund schemes in April 2020.
INDIA
Income Tax department raids locations linked to Taapsee Pannu, Anurag Kashyap
Besides actor Taapsee Pannu and film director Anurag Kashyap, the I-T department's searches were on at locations linked to film producer Vikas Bahl and distribution company Phantom Films, according to a report
BUSINESS
NSE glitch: Sebi forms panel to strengthen interoperability
Problems at NSE and its clearing corporation created an unforeseen situation in which market players could not switch to another exchange’s clearing corp..
BUSINESS
Trading glitch: NSE’s new offerings may run into SEBI hurdle
The regulator wants the exchange to expand its capacity to take orders as new services will put pressure on the market architecture and an interruption like the one on Wednesday could repeat.
BUSINESS
Bull phase due to India coming out of pandemic effectively – Sebi chief
The Sebi chairman said foreign portfolio investor (FPI) behaviour had changed drastically after the pandemic.
BUSINESS
Sebi seeks report from NSE on shutdown over tech glitch
NSE is expected to submit its report in the next 48 hours and a detailed root analysis will also be submitted after the preliminary report.
MARKETS
Trading resumes on NSE after being shut for majority of the day, trading extended till 5 pm
Market timing may be extended till 5 pm. NSE has approached Sebi and other exchanges for increasing the trading timing
BUSINESS
Four brokers of ICEX under SEBI scanner for payment irregularities
Market regulator follows the money trail to check for wrongdoings by Indian Commodity Exchange under Liquidity Enhancement Scheme.
BUSINESS
Sebi board meeting | IPO norms changed to ease large issues
At the meeting, the Sebi board has also repealed SEBI (Underwriters) Regulations, 1993, and made amendments to SEBI (Merchant Bankers) Regulations, 1992 and SEBI (Stock Brokers) Regulations, 1992.
BUSINESS
Tops Grup case: ED summons actor Armaan Jain again for questioning
The Enforcement Directorate is investigating if Jain had business dealings with Vihang Sarnaik, the son of Shiv Sena MLA Pratap Sarnaik. The investigative agency is probing a contract given to the Tops Grup for security services by the Mumbai Metropolitan Region Development Authority.
BUSINESS
Sebi likely to ease IPO norms for large issue in February 17 meeting
New norms likely boost capital market by helping mega issues like LIC’s; regulator to also discuss norms to make independent directors more accountable
BUSINESS
ED arrests actor Sachin Joshi in Omkar Group money-laundering case
The arrest came after income tax officials searched the home and offices of the actor-businessman over five days.
BUSINESS
Commodity Derivative Advisory Committee member seeks white paper on energy contracts
Sebi and CDAC are concerned about decreasing volumes and falling participation in agricultural derivative contracts
BUSINESS
Spot gold trade set to take off soon on existing exchanges
The Securities Contracts (Regulation) Act would also see some amendments to give shape to gold being treated as a security and in the provisions for duration of contracts.
BUSINESS
Multi Commodity Exchange ditches 63 Moons, picks TCS as new technology partner
This is the first time that MCX is changing its technology partner. Currently, 63 Moons Technologies which was the founder-promoter of MCX, is providing technology for the clearing and settlement software at MCX.
BUSINESS
Budget 2021 | SEBI assigned new responsibility as Gold Spot Exchange regulator
In the budget of 2018-19, the government had announced its intent to establish a system of regulated gold exchanges in the country. For this purpose, SEBI will be notified as to the regulator. For warehousing purposes, the government has appointed Warehousing Development and Regulatory Authority as a regulator.
BUSINESS
Budget 2021 | Government wants to make Income-Tax department taxpayer-friendly
Simplification of forms, I-T filing exemption to those above 75 years of age, reduction in tenure of reassessment, and faceless dispute redressal committees are the highlights.
