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.

Mumbai: Three years after the National Spot Exchange Ltd (NSEL) scam and eight months after the merger of the Forward Markets Commission (FMC) with the Securities and Exchange Board of India (Sebi), action against NSEL brokers is on the cards.

The capital market watchdog has formed an investigative team to look into their role, said two persons familiar with the development. “Sebi has formed an investigative team-cum-committee to look into the allegations against the brokers of NSEL,” said one of the persons quoted above.

Mumbai: The Securities and Exchange Board of India, or Sebi, on Monday suggested two ways to clear ambiguities in the definition of “control” in a listed firm, a move primarily aimed at making mergers and acquisitions smoother and free of legal hassles.

The market regulator proposed in a discussion paper that to make the definition of “control” clearer, one of the options could be to amend the framework of protective rights and exclude certain business decisions by an entity in the listed firm from the ambit of “control” definition.

In a major clampdown, regulator Sebi has debarred over 1,000 entities from the capital markets after they were found to be misusing stock exchange platforms for tax evasion to the tune of more than Rs 15,000 crore.

Sebi has also suspended trading in shares of as many as 167 companies while the regulator has written to the Income Tax Department in nearly 100 cases where more than 1,800 entities are suspected to have traded in shares valued beyond their disclosed income.

Capital market regulator Securities and Exchange Board of India (Sebi) has provided in-principle not to BSE Ltd for an initial public offering (IPO).

BSE, the country's second-largest exchange in terms of volume, has written to market regulator Securities and Exchange Board of India (Sebi) seeking an approval for the IPO and to list its shares on a recognized stock exchange.

Finance Minister Arun Jaitley is addressing the boards of The Reserve Bank of India and Securities and Exchange Board of India today to discuss the feasability of introducing various financial sector reforms announced in the budget proposals for 2016-17.

The address of the finance minister comes in the backdrop of the government's announcement of meeting the current year's fiscal deficit target and sticking to the target of 3.5%.

The Securities and Exchange Board of India (Sebi) has issued a letter to United Spirits Ltd (USL) seeking details on the severance deal between Vijay Mallya and London-based spirits firm Diageo.

"Sebi is examining intricacies of the deal and may summon officials from USL," said a source.

Amid a huge controversy over loan defaults by Vijay Mallya-led UB Group firms, regulator Sebi plans to choke fund-raising taps for 'wilful defaulters' while fund-raising norms are set to be made easier for start-ups as part of wide-ranging reforms in capital markets.

The proposed moves, likely to be discussed by the Sebi board tomorrow, are aimed at safe-guarding the interest of small investors while deepening the capital market place to provide new products and avenues for institutions, a senior official said.

The Securities and Exchange Board of India (Sebi) has disposed of insider trading proceedings against Reliance Petroinvestments, a group company of the Mukesh Ambani-led Reliance Industries.

The case date backs to 2007, before the merger of Indian Petrochemicals Corporation (IPCL) with Reliance Industries. A Sebi order in May 2013 had charged Reliance Petroinvestments with insider trading and imposed a penalty of Rs 11 crore on it.

Markets regulator Sebi has let off Mukesh Ambani-led RIL Group's Reliance Petroinvestments Ltd (RPIL) in an almost 9-year-old alleged insider trading case involving shares of the erstwhile IPCL on lack of evidence to establish prior access to sensitive information.

Interestingly, Sebi had earlier in May 2013 imposed a penalty of Rs 11 crore on RPIL in the same case, but the order was later set aside by the Securities Appellate Tribunal in December last year and the regulator was asked to look afresh into the case and pass another order within three months.

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