The Securities and Exchange Board of India (Sebi) has banned Trinamool Congress MP Kanwar Deep Singh and his associates from participating in the market for alleged illegal fund raising by an entity called Alchemist Capital. The regulator has asked the company and people associated with it including Singh to refund over Rs 165 crore raised from investors with 15 per cent interest compounded half yearly. Sebi has said if the proof of compliance with the directions of refund were not submitted in three months' time, it would initiate criminal action against promoters and directors.

The Securities and Exchange Board of India (Sebi), equipped with the additional power of taking action in illegal mobilisation of funds through collective investment schemes (CIS), is yet to overcome the hurdle of local constraints, sources say.

According to people familiar with the matter, the markets regulator has adopted a pro-active approach to look into complaints of probable cases of CIS and taking action, but any such action leads only to half a crackdown.

Mumbai: The Securities and Exchange Board of India (Sebi) has cautioned investors against investing money in companies that make a public offer without complying with the necessary legal and regulatory framework. Since January 2013, the capital market watchdog has taken action against 193 such entities, according to a press release issued on Friday.

“Some unlisted companies are luring retail investors by issuing securities, including non-convertible and convertible debentures/ non-convertible and convertible preference shares/ equity shares in the garb of private placement, without complying with the provisions of Companies Act, 1956 read with the Companies Act, 2013, Sebi (Issue and Listing of Debt Securities), Regulations, 2008, Sebi (Issue and Listing of Non-Convertible Redeemable Preference Shares), Regulations, 2013 and Sebi (Issue of capital and Disclosure Requirements) Regulations, 2009,” said the release.

Securities and Exchange Board of India (SEBI) has cancelled Sahara Asset Management Company's license, saying it is not fit to carry out the business of mutual fund.

Sahara's fund management license would reportedly stand cancelled two months from the date of the order.

Markets regulator the Securities and Exchange Board of India (Sebi) has intended to treat brokers of commodity exchanges at par with their counterparts at equity exchanges in terms of registration and transaction fee ahead of registration process.

In a meeting recently held with representatives of commodity broking fraternity, Sebi said that commodity brokers should be treated at par with equity brokers and therefore, pay uniform registration fee of Rs 50,000 per member as currently paid by equity brokers.

The Securities and Exchange Board of India (Sebi) is not in favour of providing the details of the participatory note (PN) holders to the income tax department as desired by the Special Investigative Team (SIT) on black money.

A senior Sebi official told The Financial Express, “It will tantamount to a roving inquiry and that is not right and will hurt investment into the country as no investor would invest after knowing that his details are being given to the income tax department”.

The Securities and Exchange Board of India (Sebi) was gathering legal opinion on the listing of cooperatives, sources said.

Any group of individuals can form a cooperative society to act jointly for common benefit. Shares of cooperative societies in India are not offered to the public.

Market regulator Sebi is working on a platform for reporting securitisation deals, Reserve Bank of India deputy governor R Gandhi said on Tuesday.

Gandhi, speaking at an industry conference in Mumbai, said banks' drive to securitise priority sector loans will revive the segment.

Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked the market regulator to stick to its rules governing related party transactions (RPT). IiAS has slammed the recommendation by the ministry of corporate affairs (MCA) to dilute the Securities and Exchange Board of India (Sebi) rules as an anti-investor move.

The MCA had asked Sebi to align its provisions regarding RPTs with the Companies Act 2013. “IiAS believes Sebi should hold its own. Sebi’s provisions on related party transactions protect minority interest, while MCA has diluted its position to promote the ‘ease of doing business’,” the firm said in a report on Thursday.

To safeguard capital markets from outside risks, regulator Sebi will soon issue a new set of guidelines to govern outsourcing by stock exchanges and other key entities in the marketplace.

The new guidelines will ensure that exchanges, clearing corporations and depositories do not outsource their core and critical activities to third-parties, while they would need to put in place a robust system to monitor outsourced activities on a real-time basis.

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