Mumbai: Leading credit rating agencies are likely to face regulatory action over the IL&FC fiasco. According to sources, the market regulator may soon issue show-cause notices to three top rating agencies — Icra, India Ratings & Research (IndRa) and CARE Ratings — over their failure to proactively warn off troubles at one of the country’s biggest non-banking financial companies, IL&FS, till a subsidiary defaulted on some of its debt.

The Securities and Exchange Board of India (Sebi) has asked the stock exchanges to look into the steep fall in shares of several companies over the past month.

According to sources, the regulator suspects large stock market operators could be behind the hammering, perhaps in connivance with company promoters.

Capital market regulator Sebi Friday said it has not issued any advisory to mutual funds against rolling over of their current exposure to Indiabulls Housing Finance and Dewan Housing Finance.

"It has been reported in certain sections of the media that Sebi has advised mutual funds not to roll over their current exposure to Indiabulls Housing Finance and Dewan Housing. It is clarified that Sebi has not issued any such advisory," the regulator said in a statement.

The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to 300 brokerages whose clients lost significant money in the infamous Rs 56-billion National Spot Exchange (NSEL) scam.

Sebi’s notice alleged that these brokerages no longer meet the “fit and proper person” criteria and hence should not be allowed to continue as intermediaries.

Friday's sharp share sell-off of several banking and non-banking finance companies has put the Securities and Exchange Board of India (Sebi) and stock exchanges on high alert. According to sources, the regulator met the stock exchanges on Monday evening to avert any further damage and ensure that there is ample liquidity.

In a bid to tighten the noose around market offenders, the government has directed the Securities and Exchange Board of India (Sebi) to frame a policy on recovery proceedings.

The new rules could help the market regulator seize assets of violators even before a final judgment is passed by appellate bodies.

The Securities and Exchange Board of India (Sebi), in its board meeting on Tuesday, decided to allow foreign companies having exposures in the Indian commodity market to hedge their positions in derivatives.

The decision was taken after consultation with the ministry of finance and the Reserve Bank of India (RBI). However, they will not be allowed to hedge their exposures in sensitive commodities. Derivatives trading will also not be permitted in commodities they don’t have exposure in. This may differ from company to company.

Mumbai: The Securities and Exchange Board of India (Sebi) today approved a slew of proposals, including revised framework for settlement of cases and new know-your-customer (KYC) norms for foreign portfolio investors (FPIs). The proposals were cleared by the Sebi board at its meeting in Mumbai.

Markets watchdog Sebi is “well within its rights” to regulate auditors with respect to activities under its regulations, a senior government official said amid chartered accountants’ apex body ICAI raising concerns about the proposal.

Corporate Affairs Secretary Injeti Srinivas also said that there will be no “cross cutting regulations”.

Non-resident Indian (NRI) offshore fund managers have requested the Securities and Exchange Board of India (Sebi) to allow them to own at least 5 per cent in their fund.

In a circular issued on April 10, the market regulator had reiterated that NRIs are not eligible to make investments as foreign portfolio investors (FPIs).

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