NEW DELHI: Capital markets regulator Sebi has sought clarification from merchant bankers of five firms including Amar Ujala Publications and Dilip Buildcon regarding their proposed initial public offers (IPOs).

The other companies from which Sebi has sought information are S H Kelkar and Company, Pennar Engineered Building Systems and Syngene International.

Markets continue to gain for the second straight session on anticipation that RBI may slash the key policy rate in the upcoming monetary policy review on June 2, 2015. Further, timely monsoon forecast and slowdown in foreign funds outflows has lifted the trading sentiments.

Meanwhile, foreign institutional investors sold shares worth a net 38 crore rupees on Friday as compared to a selling of Rs 74 crore rupees on Thursday.

Market regulator, Securities and Exchange Board of India (SEBI) has passed an order providing exit to the 78-year old Madras Stock Exchange Limited (MSE). The exchange will be 14th Stock Exchange to exit under SEBI's exit policy, which came into effect in May 2012.

The policy mandated Regional Stock Exchange (RSEs) a minimum net-worth of Rs 100 crore and an annual trading of Rs 1,000 crore and gave two years to comply or exit the business.

The Securities and Exchange Board of India (Sebi) has been going slow on giving approvals to balanced funds, with only one getting the regulator’s nod in three years.

Since January 2012, at least seven fund houses have filed offer documents for launching these but are yet to get a nod.

To protect investors from illegal mobilisation of funds, the Securities and Exchange Board of India (Sebi) has barred four companies and their directors from raising money by issuing securities.

The move follows Sebi receiving a complaint against these companies -- Bishal Horticulture & Animal Projects, Bishal Distillers, Bishal Agri-Bio Industries and Bishal Abasan India -- alleging illegal mobilisation of funds.

To help lenders deal with defaulting borrowers, Securities and Exchange Board of India (Sebi) has notified new norms for banks to convert their debt into equity in distressed companies — a move that might lead to a sharp rise in restructuring of bank loans.

The decision to tweak the pricing formula for conversion of debt into equity would also pave the way for bankers to have a larger say in activities of a distressed company by acquiring a majority stake and taking over the management.

As many as 500 cases have come under the scanner of revenue intelligence agencies and capital markets regulator Sebi for raising a whopping Rs 2 lakh crore illegally in the guise of non-convertible debentures and private placements.

Suspecting that these financial instruments are being misused to launder black money, the revenue intelligence agencies have shared the details with the Securities and Exchange Board of India (Sebi) and other regulators for further action, official sources said.

MUMBAI: Markets regulator Sebi has ordered attachment of bank and securities accounts of over 40 entities so far this year to recover pending dues worth more than Rs 140 crore from defaulters.

The 44 defaulters against whom recovery proceedings were initiated by Sebi include — Wasankar Wealth Management and Kolkata Weir Industries — that had fraudulently raised funds from public.

With liquor giant United Spirits asking its own chairman, Vijay Mallya, to quit, the Securities and Exchange Board of India (Sebi) and other regulatory agencies have started looking into suspected irregularities at the company, including about the alleged fund diversion and disclosure-related lapses.

United Spirits Ltd (USL), in which Mallya-led UB Group has sold controlling stake to UK-based Diageo Plc, asked Mallya to step down as chairman and director after an inquiry revealed fund diversion in the past to various UB Group firms including the now-defunct aviation venture Kingfisher.

NEW DELHI: Securities and Exchange Board of India (Sebi) on Friday approached the Supreme Court seeking its direction for a three-year market ban on real estate giant DLF and its six top officials, including chairman K P Singh and his children Rajiv Singh and Pia Singh.

Agreeing to hear Sebi's plea, a bench of Justices J Chelameswar and R K Agrawal issued notice to DLF and its promoters. The market regulator had approached the court challenging a Securities Appellate Tribunal (SAT) order which had quashed its order to bar DLF and its promoters from the market.

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