Securites and Exchange Board of India (Sebi) on Friday 'reprimanded' HSBC Securities and Capital Markets Pvt Ltd for failing to make adequate disclosures related to an open offer for shares of Global Offshore Services' made in 2008.

Besides HSBC Securities, which acted as the merchant banker, the capital market watchdog also reprimanded India Star (Mauritius) Ltd which had made the open offer. However, Sebi ruled that "a direction in the nature of ordering the acquirer to make another public offer is not warranted".

The board of Securities and Exchange Board of India (Sebi) on Wednesday cleared big-bang market reforms, including a move to replace the two-decade-old insider-trading rules with the new prohibition of insider trading (PIT) regulations, and amending the existing delisting regulations.

The Securities and Exchange Board of India (Sebi) is learnt to be working on facilitating settlement of enforcement proceedings even before formal showcause notices are issued.

According to people privy to the matter, the regulator is considering a mechanism through which it would send its basic findings to the entity under scrutiny, by way of a basic notice, before issuing a formal enforcement showcause notice. The basic notice will ask if the entity wishes to settle the proceedings through the consent mechanism.

The Securities and Exchange Board of India (Sebi) is working on rules to govern how and when promoters will be allowed to reclassify themselves as public shareholders.

The move follows instances of promoters reclassifying themselves to meet the minimum public shareholding (MPS) norms. A discussion paper for public comment is likely to be issued soon, multiple sources have said.

DLF, the country’s largest real estate company, plans to launch Real Estate Investment Trusts (Reits) in the next financial year. The aim is to monetise its commercial properties and it is in discussion for partnerships.

Its net debt grew by Rs 817 crore during the second quarter of this financial year to Rs 19,944 crore. It also plans to raise Rs 3,600 crore through an issue of securities backed by commercial assets, to replace costlier debt.

Realty major DLF has deposited Rs 50 crore with the Supreme Court and will pay the balance by November 25 to comply with its direction to deposit Rs 630 crore fine slapped by fair trade regulator CCI.

In August, the Supreme Court had said that the total amount should be deposited within 3 months with its Registry, pending the outcome of the appeal filed by the DLF against the May 19 order of Competition Appellate Tribunal's upholding the penalty imposed by CCI.

The Securities and Exchange Board of India (Sebi) may soon require persons acting in concert to disclose their Permanent Account Numbers. The move is part of new transparency standards to be included in the listing regulations.

Sources in the know also indicate that board will also discuss regulations for uniform disclosure of share holding pattern and annual results to prevent selective leakage of price sensitive information.

Taking the war on rising non-performing assets (NPAs) and wilful defaulters a step further the markets regulator, Securities and Exchange Board of India (Sebi), is likely to amend its regulations on restrictions on wilful defaulters.

Sources said by way of an amendment to the Sebi Act, 1992, borrowers with a wilful defaulter tag will be barred from raising funds from the market for three years. The changes will be announced in the Sebi board meeting on November 19.

The Securities Appellate Tribunal (SAT) on Tuesday admitted the plea of DLF promoters against the Securities and Exchange Board of India (Sebi) order that had barred the real estate major and six other entities from accessing capital markets.

DLF promoters including KP Singh, his children – Pia Singh and Rajiv Singh and two other key management personnel - DLF Managing Director T C Goyal and former MD Ramesh Sanka had approached SAT earlier this month for relief against the Sebi order.

To make delisting easier and faster, market regulator Sebi will soon announce a new set of regulations wherein time required to complete such an exercise may be more than halved from a minimum of 137 days at present.

The changes are being made after taking into account suggestions made by the industry and other stakeholders, including market entities and investors.

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