Search Results for: SEBI

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SC rejects Subrata Roy's bail plea

New Delhi, June 04 (ANI): The Supreme Court on Wednesday once again rejected a bail plea of Sahara Group chief Subrata Roy. A bench of justices T S Thakur and A K Sikri, who had on May 29, reserved its order after hearing arguments from the counsel of Sahara Group and the SEBI on the fresh plea of Roy, has now referred the sahara case to a 3-judge bench. The court allowed Sahara to sell nine of its real estate assets in India to raise part of the money, but sought more information on the three overseas hotels the group had offered to sell. Jun 4, 2014
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Stock market prepared for volatility on polls result day: SEBI

Mumbai, May 15 (ANI): Chairman of Security and Exchange Board of India (SEBI) UK Sinha held a press conference in Mumbai where he talked about the market fluctuations and that they are now ready to handle any stress in the market towards the lead up to election results. Indian shares edged up on Thursday to near the record highs with a strong sign that Narendra Modi led NDA government will come to power. Sinha said that they are conducting daily tests on the market and their risk management program is answering well to the tests and they are satisfied with the results. May 15, 2014
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SEBI 'Keeping Close Watch' after Shares Surge - Source

The Securities and Exchange Board of India (SEBI) is keeping a close watch on markets after shares rallied to record highs on speculation that exit polls would show the opposition Bharatiya Janata Party and its allies winning a majority in the election, a senior official with direct knowledge of the matter told Reuters. May 13, 2014
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Subrata Roy challenges Indian regulators to prove legal lapses against group

Kolkata, Nov 30 (ANI): Chief of Sahara conglomerate, Subrata Roy has said that he is ready to face challenges posed by the entire country to come clean on the valuation of its properties or liabilities to government regulatory bodies. Addressing a conference in Kolkata, Roy said that he is ready to be hanged if anyone can prove the charges against his group. Often dubbed as a billionaire by the Indian media, the Sahara chief had earlier been locked in a battle with the market regulator, Securities and Exchange Board of India (SEBI), over a bond scheme that the apex court deemed to be illegal, and was ordered by the regulator to provide details of his personal assets and two Sahara companies. Earlier this week, the apex court had barred Roy from leaving the country. His group had also been forbidden from selling any of its properties till the time the group would provide necessary documents to SEBI. Nov 30, 2013
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SC orders Sahara Group to hand over Rs.20, 000 crores worth of property title deeds

New Delhi, Oct 29 (ANI): The Sahara Group has been ordered by the Supreme Court to hand over title deeds of properties worth Rs.20,000 crore to the Securities and Exchange Board of India (SEBI) after hearing three contempt of court petitions filed by SEBI against the group's owner Subrata Roy. An apex court bench headed by Justices K. S. Radhakrishnan and J. S. Khehar warned Roy that he would not be permitted to go abroad till the title deeds of the properties are handed over. The court has given Roy three weeks to comply with its latest order. The case against Roy relates to him failing to deposit money belonging to Sahara investors' with the SEBI. The contempt petitions filed by SEBI are related to Sahara firms-Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC) - and their directors. Oct 29, 2013
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SEBI to formulate rules for disclosures to curb errant trading: UK Sinha

New Delhi, Oct 10 (ANI): The country's capital markets regulator, Securities and Exchange Board of India (SEBI) is all set to formulate a new set of rules vis-a-vis disclosures by listed companies to curb errant trading of scripts such as insider trading and over or under rated deals. SEBI Chairman UK Sinha stated this in New Delhi on Thursday. He was speaking to the mediapersons on the sidelines of an event hosted by the PHD Chamber of Commerce and Industry. India, at present does not have any formal rules meant for dealing with the annulment of trades. Instead, stock exchanges across the country have devised their own guidelines. Recently, the SEBI took several measures to protect the interest of the investors. Oct 10, 2013
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Saradha Chit Fund Scam: Why Mamata Reacts, not RBI?

The chit fund company has, no doubt, defrauded thousands of investors, including the poor and to portray herself as pro-poor, Mamata reacted rather abruptly creating a ₹500-crore fund to help these investors. More than helping the poor, the CM's move brings into question how such frauds should be dealt with in future, both by the government and the regulator, here the RBI. Apr 25, 2013
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