New Delhi, Jun 8 () Markets regulator Sebi has directed five URO Group firms and their directors to refund the money, which they had illegally collected from the public, within three months.

These five firms are -- URO Walkers, URO Infra Reality India, URO Infotech, URO Lifecare and URO Hygienic Foods.

The Securities and Exchange Board of India (Sebi) has set up a committee to recommend on better corporate governance standards at listed companies.

The 21-member panel is to give its report in four months. It will be chaired by Uday Kotak, executive vice-chairman and managing director of Kotak Mahindra Bank. There will be representatives from corporate India, stock exchanges, legal firms, Sebi and proxy advisory firms.

Kolkata-based Bharat Road Network, promoted by SREI Infrastructure, and Ahmedabad-based non-banking financial company MAS Financial Services have received the nod from the Securities and Exchange Board of India (SEBI) for their IPOs. Bharat Road Network had filed its draft red herring prospectus( DRHP) for an IPO on February 17, 2017. The company proposes to sell 2.93 crore shares.

The Securities and Exchange Board of India (Sebi) on Wednesday proposed new norms to regulate index providers, entities who design and develop benchmark indices such as the Sensex and Nifty. The index operators, which include subsidiaries of stock exchanges and independent entities such as S&P, currently do not come under Sebi’s direct regulatory purview.

The proposed norms include a code of conduct for index operators, while mandating more disclosures and greater transparency when including or excluding a stock from the indices.

Markets regulators Sebi today said it has formulated a scheme to spread awareness about commodities derivatives among farmers, manufacturers and cooperative groups. Under the scheme, eligible entities interested in conducting commodities awareness programmes can approach Sebi for recognition and these entities can impart education in the field of commodity derivatives on topics such as forward or futures contracts, hedging and risks, among others.

Mumbai: The Securities and Exchange Board of India (Sebi) has raised concerns about Multi Commodity Exchange Ltd’s (MCX) disaster recovery (DR) site being located in the same seismic zone, Mumbai, where trading on the bourse takes place, two people with direct knowledge of the matter said.

The DR site is the Gujarat International Finance Technical Tec-City (GIFT), which falls in the same seismic zone.

Markets regulator Sebi has invited bids from independent agencies, which will be responsible for delivery of valuable documents within and outside India. The agency is required to collect the consignments from Sebi office in Mumbai and carry them either by air or train or any other accepted mode of transport, whichever may be the quickest mode for the expeditious transport of the documents, to the respective destination centers, according to Sebi.

Market regulator Sebi has sought clarification from Aditya Birla Group firm Idea Cellular regarding its proposed merger with Vodafone Plc’s Indian unit. Besides, the companies approached the Competition Commission of India (CCI) last month regarding the proposed merger and are awaiting the fair trade regulator’s nod in this regard.

In March, Vodafone India and Idea Cellular announced merger of their operations to create the country’s largest mobile phone operator worth more than $23 billion with a 35 per cent market share.

Market regulator Securities and Exchange Board of India (Sebi) has initiated adjudication proceedings against credit rating agencies Crisil and CARE ratings over suspension of rating in the case of beleaguered Amtek Auto. This is the first time Sebi is taking up the matter against the credit rating agency.

Crisil, Icra and CARE are among the major agencies that assign credit ratings to issuers of debt instruments.

The fear of abolition of the long-term capital gains (LTCG) tax benefit is back on Dalal Street as another 11,000 cases of penny stock trading abuse have come to light.

The Securities and Exchange Board of India (Sebi) sent a fresh list last week of entities that had allegedly misused capital gains provisions to evade Rs 34,000 crore in taxes to the income tax (I-T) department.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.