Former chairperson Madhabi Puri Buch said the regulator began probing Jane Street as early as in April 2024.
High Court issued oral directions restraining registration of FIR till hearing of pleas on March 4
Speaking at the launch, Sebi's Chairperson Madhabi Buch said through sachetisation, investing as an opportunity will be available at every nook and corner. "Every son and daughter will be able to participate in the industry," Madhabi Puri added.
The scheme is set to provide affordable investment opportunities to a larger part of the society.
The ISF has agreed on the minimum required disclosures for listed companies, before a RPT is taken up for approval by the Audit Committee as well as the shareholders.
The proposed mechanism will allow investors to trade in the period between shares getting credited in the demat account and the actual listing on the stock exchanges.
Sebi chair also underscored that India's weight in the MSCI Index has been steadily rising, as a result, Indian equity markets now automatically get a 20% proportionate share of global passive funds as part of the emerging market index inflows.
The meeting's agenda includes oral evidence of representatives of the finance ministry and the Securities and Exchange Board of India (SEBI) as part of the committee's decision to go for the "performance review of regulatory bodies established by Act of Parliament"
After Mahindra Group, Dr Reddy's and Pidilite Industries too have issued statements calling allegations over engagement with Dhaval Buch and Agory Advisory as false and misleading.
The post comes a few days after the party questioned payments made to the Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch by her former employer ICICI Bank even after she joined the market regulator’s board in 2017 as a whole-time member
In a letter to the Finance Ministry last month, some SEBI employees said that there was 'immense pressure' at the regulator, resulting in a 'stressful and toxic work environment'
ICICI Bank or its group companies have not paid any salary or granted any ESOPs to Madhabi Puri Buch after her retirement, other than her retiral benefits. It may be noted that she had opted for superannuation with effect from October 31, 2013, the bank said it a statement to media
"Single filing with exchanges is going to become a reality soon. If you file your disclosure with one exchange it will be filled at the other exchanges," Madhabi Puri Buch said.
Sebi Chairperson Madhabi Puri Buch and her husband, Dhaval Buch, had strongly denied Hindenburg Research’s allegations that she held stakes in offshore entities tied to Adani group companies.
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Hindenburg said that SEBI Chairperson Madhabi Buch’s response contained several significant admissions and raised critical new questions.
In response to the allegations by Hindenburg Research, the Buchs noted that Anil Ahuja, Dhaval Buch’s longtime friend and the Chief Investment Officer of the fund at that time, confirmed that the fund had never invested in any bonds, equities, or derivatives associated with the Adani group.
Jai Anant Dehadrai's first argument is that the report has attempted to establish financial wrongdoing, or bribery, only by virtue of owning a stake that current SEBI Chairperson and her husband, Dhaval Buch held in the same offshore fund.
According to Hindenburg, “the current SEBI Chairperson had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds used by Vinod Adani.”
The regulator has also suggested raising the minimum contract sizes by 3-4x, in the consultation paper released on July 30.
Madhabi Puri Buch said that a mutual fund distributor is an agent of the fund houses, similar to an employee, so if there is mis-selling or false advertising, then the AMC is liable.
The banker-turned-regulator made it clear that such reporting of those indulging in wrongful conduct is in the "self-interest" of the market participant.
Uday Kotak's statement comes days after the Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch raised concerns over frothiness in small- and mid-cap stocks.
On the overall issue of the influence of the opaque practices of private markets on the public markets, and therefore on the listing prices, Buch said that this is a problem that is being recognised globally.
In 2023, the Nifty Midcap 150 index gave a return of 45 percent. The Nifty Smallcap 250 index went up by 49 percent. Smallcap MF schemes went up by 41 percent on the average, and midcap funds went up by 37 percent in 2023. This has resulted in a gush of inflows in small-cap and mid-cap funds.