The Securities Appellate Tribunal today admitted Reliance Industries’ plea against a Sebi order banning it from equity derivatives markets and will hear the matter next on August 8, with the firm saying it should be allowed to invest its surplus funds, including through mutual funds. Reliance Industries’ counsel Harish Salve requested the tribunal to allow it to at least invest its surplus funds in established mutual funds till the time an order is passed. In response, the tribunal said that once the company makes a separate application, Sebi can consider it and take a decision as per applicable law.

Mumbai: India’s market regulator wants to relinquish powers to regulate collective investment schemes (CIS) which involve illegitimate pooling of public money after failing to successfully close even a single case, although the very presence of a regulator to investigate such schemes has to some extent acted as a deterrent to their launch.

Four years ago, the Securities and Exchange Board of India (Sebi) was empowered to act against Ponzi schemes and other illegal money pooling and deposit-taking activity.

The Securities and Exchange Board of India’s (Sebi) decision to allow options trading in commodity derivatives comes as a shot in the arm for farmers, who can now look to a wider portfolio of derivatives to hedge risks in their produce better. Although detailed guidelines are yet to be out, market participants say even the cost of trading in commodity options (both farm and non-farm items) will likely be only a fraction of that for trading in futures.

The Bombay High Court (HC) on Thursday impleaded cigarette major ITC, market regulator Securities and Exchange Board of India (Sebi) in the public interest litigation (PIL) against investment in tobacco companies by the government and state-owned insurance companies. The court also granted farmers' association request to be part of the PIL.

The court directed the new respondents to file their respective affidavits in reply to the petition within six weeks. The next hearing in the matter is likely within eight weeks.

Sahara chief Subrata Roy on Thursday said that he would pay Rs 1,500 crore in the SEBI-Sahara account on or before June 15.

Roy's undertaking came during the hearing of a case involving him and the Securities and Exchange Board of India (SEBI) over a dispute of returning money to its investors.

Capital market regulator the Securities and Exchange Board of India (Sebi) on Wednesday announced the much-awaited commodity market reform of permitting exchanges to launch options contracts.

The move would deepen the domestic commodity market and provide farmers and other participants a new hedging tool, in a more cost-effective manner. Sebi also announced a single-licence regime, allowing stockbrokers to deal in commodities and vice versa. It said within a year, it would allow a single licence for exchanges as well.

The Sebi board will meet on Wednesday to discuss stricter norms to check any flow of black money into the stock market through controversy-ridden P-Notes as well as initiate steps to allow mutual fund investments via e-wallets.

The markets regulator will also consider new norms for allowing options trading in commodity derivatives market, sources said.

Capital markets regulator Sebi will soon put in place stricter norms to check any flow of black money into stock market though controversy-ridden P-Notes and also initiate steps for allowing mutual fund investments through e-wallets.

Besides, Sebi will consider this week new norms for allowing options trading in commodity derivative market, while rules would be relaxed for registration of foreign investors and for common license to brokers to deal in equities and commodities, sources said.

The special SEBI court presided over by judge S Razvi on Friday, quashed the non-bailable warrant (NBW) issued against Sahara chief Subrata Roy, after he appeared before the court. On March 31, the court had issued a warrant against the accused, which was honoured by him.

The next hearing of the case has been adjourned to May 18, when the prosecution will put forward the charges pressed against the accused.

Mumbai: The Securities and Exchange Board of India (Sebi) plans to enhance surveillance of commodity brokers ahead of introducing a unified licence for intermediaries. The capital market regulator’s board will consider this issue when it meets on 26 April, two people with direct knowledge of the matter said.

The increased surveillance will happen through a so-called risk-based supervision system that focuses on identifying, measuring and mitigating risk—which is already in place for equity brokers. This will be part of the overall operation framework for a unified licence for commodity and equity brokers, said the people cited.

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