ICICI Bank may face a penalty of up to Rs 25 crore under the relevant Sebi regulations for such lapses, while the fine for Kochhar may go up to Rs 1 crore, besides other penal actions, a senior official said.
The Ministry of Corporate Affairs (MCA) is probing 22 listed companies for suspected misuse of funds raised through initial public offerings.
Based on an investigation into "fraudulent transfer of shares of PCL," SEBI had passed an order in July 2010 restraining the firm and promoters from the securities market for seven years.
The directors -- Phool Singh Choudhary, Harish Sharma and Abhishek S Chouhan -- have also been restrained from holding position as directors or key managerial personnel of any listed company for a period of four years, SEBI said in a fresh ruling dated June 21.
ICICI Securities had in March reduced the size of its IPO to a little over Rs 3,500 crore after the sale elicited a sluggish response, especially from high net worth individuals.
The board of Sebi today approved changes to regulations governing Market Infrastructure Institutions (MIIs) wherein the first term in stock exchanges, depositories and clearing corporations may be extendable by another term, subject to satisfactory performance review.
In the high profile case, the SEBI has passed preliminary orders against HDFC Bank, Tata Motors, Axis Bank and Bata India. These companies were also asked to conduct internal probes and report back to the regulator.
Tyagi said such information that constitutes to be "material information" should be shared with the stock exchanges immediately by the respective companies.
investigation at the National Stock Exchange (NSE) into whether high-frequency traders were getting unfair access to some network servers at the exchange SEBI to start action against entities and individuals.
The proposals to amend the ICDR (Issue of Capital and Disclosure Requirements) regulations were cleared by the Sebi board at its meeting here.
The market regulator is planning to amend various norms governing entities undertaking third party assignment under the securities law.
According to the regulator, the amendments are mainly aimed at simplifying the language, removing redundant provisions and inconsistencies as well as update references to Companies Act, 2013.
The watchdog has been probing the alleged lapses in high-frequency trading offered through the National Stock Exchange's co-location facility.
The final decision to appoint the consultants will be taken by Srikrishna, who is heading the independent enquiry panel
Other proposals on the agenda are reducing the cooling off period for former employees to one year and review of the watchdog's recruitment policy.
According to a SEBI order, Asoka had offered redeemable preference shares to 6,842 investors during the financial years 2007–08 to 2011–12 and raised approximately Rs 6.22 crore.
Two properties sold for over Rs 2 crore in the Pancard Clubs case by SEBI. Property in Panvel has been sold for Rs 68.09 lakh, the one in Mumbai has been disposed of for Rs 1.34 crore
ICICI Bank's Board created a new position of a Chief Operating Officer (COO) overnight, to be occupied by Sandeep Bakhshi, who will report to CEO & MD Chanda Kochhar
The Securities and Exchange Board of India (SEBI) could amend the Issue of Capital and Disclosure Requirements (ICDR) after analysing public opinion during its board meeting scheduled for June 21.
The Bengaluru-based company had filed its draft papers with the regulator in January, as per the update with markets watchdog.
SEBI plans to change certain provisions in the takeover regulations. The changes are expected to be discussed at SEBI's board meeting to be held on June 21
The details have been shared with the Income Tax Department, the Enforcement Directorate, the Ministry of Corporate Affairs (MCA) and the Financial Intelligence Unit.
The Securities and Exchange Board of India (Sebi), in April, had put in place a framework for the depositories -- NSDL and CDSL -- to monitor the foreign investment limits in listed Indian companies.
According to a Sebi order dated June 15, Greenbang Agro had allotted secured redeemable non-convertible debentures (NCDs) to at least 210 investors during the financial years 2011-12, 2012-13 and 2013-14 and mobilised nearly Rs 37 lakh.
BSE said that the stock brokers were required to submit the system audit report for the period ended March 31, 2018 latest by June 30 this year.