Markets regulator Sebi has ordered a forensic audit of Svam Software, which figures among 331 suspected shell companies, after finding prima facie evidence of misrepresentation of financials by the firm.

While calling for the forensic audit, the Securities and Exchange Board of India (Sebi) has lifted the trading restrictions imposed on the firm.

The Supreme Court on Thursday will hear the Sahara-SEBI case.

In October, the Securities and Exchange Board of India (SEBI) moved the top court, seeking contempt proceedings against the Sahara Group for allegedly obstructing the process of auctioning its Aamby Valley property in Pune, initiated on court's direction.

Mumbai: The Securities and Exchange Board of India (Sebi) has formed a committee to hear cases of firms (and their directors) that have complained that they have been classified as shell companies because of technical errors, said two people with direct knowledge.

The panel will be a sub-committee of the capital market regulator’s secondary market and advisory committee (SMAC).

The Securities and Exchange Board of India (Sebi) has said foreign portfolio investors (FPIs) should report their investment in hybrid securities separately and has asked the depositories to make necessary arrangements for this.

Currently, the daily FPI net investment data and the FPI Assets Under Custody (AUC) data are disseminated by the depositories (NSDL and CDSL) for equity and debt markets.

MUMBAI: The Securities and Exchange Board of India has attached all bank accounts, securities and mutual fund units held by Vijay Mallya-owned United Breweries Holdings Limited (UBHL).

The regulator said UBHL has defaulted on the payment of a penalty imposed by it in 2015. It has directed banks, depositories and mutual funds not to allow any debit in their accounts. However, credits have been allowed. Sebi had imposed a penalty of Rs 15 lakh in 2015 for disclosure lapses by United Breweries Holdings.

Markets regulator Sebi has ordered attachment of bank and demat accounts as well as mutual fund folios of Green India Infra Projects and its seven directors to recover dues of over Rs 5 crore. In October 2016, Sebi had directed the firm and its seven directors to refund the money which the company had collected by issuing secured optionally convertible debentures to the investors without complying with public issue norms.

As per the regulator’s attachment order dated November 10, Rs 5 crore was collected through the issuance of secured optionally convertible debentures to the allottees and the amount was to be refunded with an annual interest of 15 per cent.

A grouping of stockbrokers has termed Sebi’s directive of compulsorily keeping records of telephonic communications with clients as “not practical” since that would be difficult in terms of identification and retrieval.

Voicing concerns over the directive, the Association of National Exchanges Members of India (ANMI), in a letter to Sebi, also said monitoring of communications with clients would be difficult as multiple modes, including mobile phones and WhatsApp messenger, are used for placing orders.

Capital market regulator Securities and Exchange Board of India (Sebi) has charged 22 entities, including Gujarat Chief Minister Vijay Rupani’s Hindu Undivided Family (HUF), for “manipulative trades” in little-known company Sarang Chemicals.

The regulator has imposed separate penalties amounting to Rs 6.9 crore on the 22 entities, which Sebi investigation found were “connected or related”. Rupani’s HUF has been asked to pay Rs 15 lakh, while three other individuals would have to shell out Rs 70 lakh or more each.

The income-tax department and the capital markets regulator on Monday said they will be scrutinizing the so-called Paradise Papers—documents obtained by a global network of investigative journalists—to see if any Indian individual or companies were guilty of wrongdoing.

While the income-tax authorities will investigate companies allegedly evading taxes by using complex offshore structures, the market regulator will be scrutinizing disclosures.

Markets regulator Sebi will look into alleged fund diversion and corporate governance lapses at various listed firms and their promoters, including those linked to Vijay Mallya, named in the leaked 'Paradise Papers'.

While some entities linked to Mallya are already being probed by Sebi and other agencies, any fresh disclosure in the leaked documents made public by ICIJ (International Consortium of Investigative Journalists) would be thoroughly looked into, senior officials said.

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