The Securities and Exchange Board of India (Sebi) on Tuesday asked listed banks to make disclosures if the provisioning and non-performing assets (NPAs) assessed by the RBI had exceeded 15 per cent of their published financials.

“The banks shall disclose to the stock exchanges divergences in the asset classification and provisioning wherever: the additional provisioning requirements assessed by the RBI exceed 15 per cent of the published net profits after tax for the reference period; and/or the additional gross NPAs identified by the RBI exceed 15 per cent of the published incremental gross NPAs for the reference period,” Sebi said in a circular.

A plethora of events, such as hopes of a rate cut by the Reserve Bank of India (RBI), fresh inflows of foreign funds and the onset of the quarterly earnings season, pushed the Indian equity markets to a record high during the week ended Friday.

On July 13, the 30-scrip Sensitive Index (Sensex) of the BSE breached the 32,000 points-mark for the first time and registered a record high of 32,037.38 points on a closing basis. The wider Nifty of the National Stock Exchange (NSE) closed at a new high of 9,891.70 points.

The Ministry of Finance on Monday summoned the Securities and Exchange Board of India (SEBI) to monitor the status of the National Stock Exchange (NSE) after trading on it came to a three-hour halt due to technical glitches. “It is a matter of serious concern for the markets. SEBI is monitoring the situation. The NSE has to submit a report to the SEBI on the glitch,” said an official from the Finance Ministry. Trading on the NSE resumed after a major technical glitch resulted in a three-hour long halt on Monday morning.

Sebi has passed an interim order against Capquest Research, Aspen Industries and directors of both the companies. Capquest Research and its directors Gitesh Malik, Shashanka Sharma and Prashant Kumar are informed to cease and desist from acting as an investment advisor and cease to solicit or undertake such activity or any other activities in the securities market, including buy, sell or otherwise deal in securities market, either directly or indirectly, with immediate effect.

The Securities and Exchange Board of India (Sebi) is in favour of having at least one woman as independent director (ID) on the board of listed companies, said two people in the know, including a senior Sebi official.

According to the Companies Act, 2013, all listed companies need to have at least one woman as a director on their board. While most companies have fulfilled this, some have done so by inducting family members of the promoters. And, women on India Inc boards are still low in number.

The International Finance Corporation (IFC), a member of the World Bank Group, has invested Rs 667 crore ($103 million) in L&T Infrastructure Finance Company Ltd by subscribing to the country's first official green bonds. This is in line with IFC’s strategy to support renewable energy infrastructure in the country and also develop the capital markets.

L&T Infrastructure Finance Company Limited, a wholly-owned subsidiary of L&T Finance Holdings Ltd, will use this money to give loans to solar power projects. The company has been increasing its focus on renewable energy, which has come to comprise 37 per cent of its Rs 22,774-crore (nearly $3.51 billion) total portfolio.

NEW DELHI: Sebi Chairman Ajay Tyagi on Monday said the National Stock Exchange (NSE) will refile Red Herring Prospectus (DRHP) with the market regulator that would comprise a new financial statement, media reports suggested.

Tyagi, told reporters on the sidelines of an event, the prospectus may need to be re-submitted to reflect updated financials.

Regulator Sebi on Friday put in place a new framework for consolidation in debt securities as part of its efforts to deepen the corporate bond market.

Liquidity in the secondary market for corporate bonds will be increased by way of minimal number of ISINs (International Securities Identification Numbers).

Mumbai: As rising bad loans from distressed companies keep bankers and the government on their toes, Sebi chairman Ajay Tyagi on Thursday cautioned mutual fund managers from adding bad debts to their portfolio. Tyagi said that in addition to the ratings assigned by credit agencies, fund houses should also do their own due diligence on companies before buying their debt papers.

The warning from the chief regulator came for the MF industry that manages over Rs 13 lakh crore worth of debt portfolio, within days after Sebi board decided to tighten regulations for credit rating agencies.

Amidst the concerted efforts by the government and RBI to rein in the mounting bad loans issue, Sebi Chairman Ajay Tyagi today cautioned mutual fund (MF) players against letting some of such money flow into the industry by way of debt funds. Non-performing assets in the banking system should not shift to mutual funds by way of debt funds. The industry should be careful about that, Tyagi told an industry summit organised by MF lobby Amfi here this morning.

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