MUMBAI: The Securities & Exchange Board of India has told mutual funds to drastically reduce the number of funds under management and stick to only one fund per category in an attempt to end the complexities of mutual fund investing. The regulator believes that the current products list, longer than the number of actively traded listed stocks on stock exchanges, is confusing investors.

A plethora of schemes makes it impossible for an investor to gauge a fund's suitability and often the distinctions are too thin to make any significant difference, Sebi feels.

In yet another clampdown against entities using the stock market for evasion of taxes, capital market regulator Securities Exchange Board of India (Sebi) barred Kailash Auto Finance, its promoters and over 240 entities from the securities market for generating fake long terms capital gains.

The probe found share prices of the stock were "artificially" being raised on the exchanges in order to register "bogus" or fake claims of LTCG. Given the seriousness of the issue, Sebi passed an ex parte order on Tuesday.

The Supreme Court on Tuesday allowed market regulator Securities and Exchange Board of India (Sebi) to go ahead with the sale of Sahara properties whose unencumbered title deeds are in its possession. The step is being taken to recover investors' money that Sahara groups' two companies had collected from public through Optionally Fully Convertible Debentures.

The apex court bench headed by Chief Justice T S Thakur said that the market regulator would appoint an agency to decide the mechanism for the sale of Sahara properties. The court said that the market regulator should evaluate 86 properties of Sahara.

Markets watchdog Securities and Exchange Board of India (Sebi) on Monday slapped a total fine Rs 7 lakh on four firms for failing to register with the online complaint redressal system within the stipulated time, while it disposed proceeding against 21 other companies.

The firms against which fines were imposed are Anand Motor Agencies, Brownia Business, BDBS Associates and Apex Holdings.

Capital markets regulator Securities and Exchange Board of India (Sebi) has told the Enforcement Directorate (ED) to look into complaints by four investors against a Lodha Group company, according to documents accessed by The Indian Express.

The Sebi communication was sent to the ED in January and is currently being investigated by the directorate, ED sources said. This is apart from the ongoing enquiry by the ED into Lodha’s investment in joint ventures with foreign firms and foreign investments of their sister concerns and group companies.

State-owned IDBI Bank said Tuesday it plans to raise Rs 20,000 crore from bonds in one or more tranches next fiscal to fund business growth.

The bank, at its board meeting held today, approved in-principle the rupee bond issuance limit of Rs 20,000 crore, IDBI Bank said in a regulatory filing to stock exchanges.

The Securities and Exchange Board of India or Sebi may get additional powers to regulate money-pooling activities that currently do not come under any other financial sector regulator and those where states have limited powers to act, said three people familiar with the development.

The government is in advanced stages of drafting a new legislation to this effect, confirmed the people cited above, requesting anonymity.

Mutual fund investors will soon be able to know the quantum of commission paid by the fund houses to the distributors as well as salaries drawn by the top brass of the asset management companies (AMCs).

The Securities and Exchange Board of India (SEBI), tightening the disclosure norms for mutual fund houses, directed the entities to make the disclosures a part of the consolidated account statement (CAS) sent to all mutual fund investors.

Securities and Exchange Board of India (Sebi) has approved IRB Infrastructure Developers’ application for Infrastructure Investment Trust (InvIT), paving the way for launch of India’s first such instrument.

In a notice sent to stock exchanges, Mumbai-based road developer said, “Sebi has granted the certificate of registration in terms of Regulation 6 of Sebi (Infrastructure Investment Trusts) Regulations, 2014 (Regulations) to IRB InvIT Fund to which the company is a sponsor”.

The Securities and Exchange Board of India (Sebi) and the Enforcement Directorate (ED) are set to study a transaction between British multinational Diageo and UB group Chairman Vijay Mallya, in which the British firm acquired the South African Breweries' traditional sorghum beer business for close to $77 million.

The January 2013 transaction to acquire 50 per cent in the beer business was announced within months of the sale of United Spirits to Diageo in November 2012. The money was paid to Mallya in two tranches in his offshore accounts. In April 2015, Diageo had taken full control of the business by buying the other 50 per cent from Pestello Investments, a Mallya-owned company.

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