Reflecting a record-high success rate for orders passed by Securities and Exchange Board of India (Sebi) in various cases, the number of appeals against these directions have almost doubled at the Securities Appellate Tribunal (SAT) while the count of pleas allowed by SAT halved during the last financial year.

According to the latest details available with regard to cases where Sebi orders have been challenged at SAT, the number of appeals dismissed by the Tribunal rose to 117 in the last financial year (2013-14) from 62 in previous year.

Stung by allegations of going easy in the Bank of Rajasthan (BoR) case, market regulator Securities and Exchange Board of India (Sebi) has shifted the blame on the Reserve Bank of India (RBI).

In a letter to the department of economic affairs (DEA), Sebi has said merger between the erstwhile BoR and ICICI Bank was approved by the banking regulator despite being "fully aware" of the "surrogate acquisitions" made by the former's promoter entities.

The Securities and Exchange Board of India (Sebi) on Friday firmed up regulations that will govern real estate investment trusts, or REITs, and so-called infrastructure investment trusts (InvITs) that the market regulator decided to allow last month. Following a board meeting in August, Sebi had cleared a long-pending proposal to allow Indian firms to launch REITs —a move that will enable easier access to funds for cash-strapped developers and create a new investment avenue for institutions and high net worth individuals, and ultimately ordinary investors. All REIT schemes, to start-off with, will be close-ended real estate investment schemes that will invest in property with the aim of providing returns to unit holders. The returns will be derived mainly from rental income or capital gains from real estate. REITs, Sebi said, will be allowed to invest in commercial real estate assets, either directly or through special purpose vehicles (SPVs).

Sustained dollar demand from importers and weakness in local equities on Wednesday pulled the rupee down for a third straight day, with the currency ending two paise lower at 60.97 against the greenback.

Heavy selling by foreign funds yesterday in local stocks and better dollar overseas also kept the rupee under pressure.

The Securities and Exchange Board of India (Sebi) will soon issue a discussion paper to formalise and address issues pertaining to the Private Investment in Public Equity (PIPE) funding.

"Work is going on to make lives easier for private equity players that invest in listed companies. The discussion paper will address issues the industry is facing, and after public consultation, formal guidelines would be issued," said a source.

The Securities and Exchange Board of India (Sebi) has sought additional information from Reliance Industries (RIL) on the takeover of Network18 and TV18 Broadcast. The two firms, which are being taken over by RIL through its Independent Media Trust (IMT), control an array of media properties, including leading business and general news channels CNBC TV18 and CNN-IBN.

"Sebi has sought additional information from time to time, which has been provided," RIL told Business Standard in response to an email query seeking comments. "Sebi has not asked for any revision of offer price," the RIL spokesman added.

Karuturi Global, the Bangalore-based publicly-held cereals, vegetables and flower exporter, has said it has applied to ROC-Bangalore (registrar of companies) seeking permission to extend the date of the AGM to a maximum period of three months from early September 2014. This move to delay complying with the listing regulations comes after the company’s subsidiary in Kenya has been in legal tangles with its banker in recent times.

The Securities and Exchange Board of India (Sebi) has saved the government from a certain defeat it would have faced at the hands of minority investors of Oil and Natural Gas Corporation (ONGC) in the matter of subsidy payout to downstream marketing companies.

Two weeks before the deadline for implementation of new corporate-governance norms, corporate India could expect some relief from the Securities and Exchange Board of India (Sebi). The announcements were expected this week, people familiar with the developments said.

Sebi is likely to extend the compliance deadline for certain select provisions under the amended listing agreement by six months. The new deadline for these is likely to be April 1.

Ortel Communications, a regional cable television and broadband service provider, has filed draft documents with market regulator Sebi for a public issue of up to 1.42 crore equity shares.

This is the sixth company to file initial papers with Securities and Exchange Board of India (Sebi) this year to garner funds through initial public offer (IPO) route.

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