Tag Archives: SEBI

SEBI to finalise new norms for advisers, credit rating agencies

MUMBAI: The board of the Securities and Exchange Board of India (Sebi) will consider and approve on December 28 as many as 17 reforms, including new norms for credit rating companies and investment advisers, according to two people with direct knowledge of the development.

“We are re-looking all regulations and ensuring that all circulars are captured in regulations,” Ajay Tyagi, chairman of Sebi, said at a December 20 event.

The Sebi board will also discuss the issue of disclosure of loan defaults and publish a discussion paper on it.

In August, Sebi had mandated that listed firms disclose all loan defaults within Continue reading

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SC rejected the plea of Sahara group to extend the deadline

NEW DELHI: The Supreme Court on Wednesday refused to extend the July 15 deadline for payment of a second installment of Rs.552 crore by the Sahara Group to a dedicated Securities and Exchange Board of India (SEBI)-Sahara account.
A bench headed by justice Dipak Misra said that it was not inclined to grant any extension and directed that the cheque be deposited in the designated account by the stipulated date.
In case the cheque isn’t honoured, the court said that it would begin the process of auction of the group’s Pune-based property, Aamby Valley, on hold right now.
The bench also warned of consequences for Sahara chief, Subrata Roy, should the cheque be dishonoured. Continue reading

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