The asset quality of the bank deteriorated in April-June quarter on sharp increase in the gross slippages due to technical impact. The gross and net non-performing asset ratio of the bank increased by 30 basis points (Bps) and 15 bps, respectively, on a yearly basis.
The regulator had charged Mavi of colluding with investment bank Pan Asia by subscribing to issues marketed by it, converting the GDRs into shares within a short time and then selling them back to entities controlled by Pan Asia and promoters of the companies.
The order has been passed after taking into account information provided by Mauritius regulator, Financial Services Commission (FSC). Mavi has undergone restraint from securities market imposed by Sebi for two years because of the charges levelled against it.
Axis Bank had approached the FIPB last month soon after the RBI said the limit of investments through GDRs, ADRs, FDI, NRI, FIIs in the bank had breached the overall limit of 49 percent of its paid-up capital. HCL Tech has also approached the FIPB to seek nod for induction of foreign funds.
British regulator FCA today fined an India-origin broker and two others in a case of financial market manipulation here by an Indian businessman in securities of Reliance Industries Ltd (RIL).
Indian companies raised a total of Rs 2.81 lakh crore in fresh capital from equity and debt markets in the April-December period of 2012.
Koutons Retail India board is meeting today to consider & discuss preferential issue /ADR /GDR, reports CNBC-TV18. At 09:28 hrs the share was quoting at Rs 6.51, up Rs 0.29, or 4.66%. It touched an intraday high of Rs 6.53 and an intraday low of Rs 6.20.
Raj Oil Mills board will consider GDR issue upto USD 20 million, reports CNBC-TV18.