MUMBAI: Concerned about gullible investors being defrauded by certain companies existing only on paper, capital markets watchdog Sebi is planning to conduct surprise inspections of such entities to bring them to book.

Securities and Exchange Board of India (Sebi) is working on a comprehensive framework to deal with the listing and trading of only-on-paper companies and tackle this menace, a senior official said.

The Securities and Exchange Board of India (Sebi) has directed attachment of bank and demat securities accounts of a former director of Ranbaxy and his wife, to recover dues worth Rs 77.83 lakh from them in a matter related to insider trading in the shares of Orchid Chemicals & Pharmaceuticals.

The Securities and Exchange Board of India (Sebi) has pulled up the mutual fund (MF) sector for not complying with the ‘20-25’ minimum exposure norm and for misuse of funds meant for investor awareness programmes.

By Sebi norms, any MF scheme is required to have at least 20 investors, with each owning less than 25 per cent of the assets. However, U K Sinha, chairman of Sebi, said on Thursday that several MF schemes were in violation of this norm, with investor concentration in some schemes as high as 98 per cent.

Sebi has directed attachment of bank and demat securities accounts of Shiv Impexs to recover pending dues worth about Rs 3.13 crore in a case related to irregularities in the IPO of Edserv Softsystems.

The pending dues to be paid by Shiv Impexs includes Rs 2.41 crore penalty imposed by the regulator on the entity in December 2011.

Capital market regulator Securities and Exchange Board of India (Sebi) has put a spoke in the wheel of AstraZeneca Pharma India's plan to take the company private.

It has said AstraZeneca can purchase shares in the delisting offer only after seeking approval of the stock exchanges. And, directed the two exchanges, BSE and the National Stock Exchange, to "closely monitor the entire delisting process…and allow the final delisting of its shares only after satisfying themselves that the process has been fair and transparent," said Rajeev Kumar Agarwal, wholetime member of Sebi in an order on Tuesday.

Market regulator Sebi has sought clarifications from two rival bidders who have made offers for acquisition of additional stakes in Vijay Mallya-led UB Group's Mangalore Chemicals and Fertilisers Ltd (MCFL).

The clarifications have been sought through merchant bankers of the two rival bidders -- Deepak Fertilisers and Zuari Fertilisers, among which the latter has been joined by the existing promoters of MCFL as 'persons acting in concert'.

Mumbai: The Securities and Exchange Board of India, or Sebi, on Friday directed all debt-oriented and balanced mutual fund schemes to have a minimum subscription amount of Rs.20 crore at the time of a new fund offer (NFO). For other schemes, the minimum subscription requirement will be Rs.10 crore.

Sebi said many debt-oriented schemes are operating with very low assets under management, or AUM. “In the interest of investors, it is important that debt-oriented schemes have an adequate corpus to ensure adherence to the investment objectives...,” said Sebi.

The Securities and Exchange Board of India (Sebi) on Thursday announced it had formulated new norms for research analysts, including minimum requirements in terms of experience and qualification, as well as capital adequacy. The Sebi (Research Analyst) Regulations, 2014, would be applicable to brokerage houses, merchant bankers, proxy advisors, etc, said a Sebi statement issued after a meeting of the regulator's board.

Capital market regulator Securities and Exchange Board of India (Sebi) on Thursday announced a slew of measures to boost equity issuances by India Inc and help rejuvenate the primary market, which at present seems to be in deep slumber.

The Securities and Exchange Board of India (Sebi) would discuss and announce various reforms to revamp India's capital markets, including revision in initial public offerings (IPOs) and offer for sale (OFS) framework at its board meeting in New Delhi on Thursday.

The regulator intends to rectify anomalies and bring more flexibility pertaining to the minimum issue size in IPOs, which many companies have been exploiting. At present, all companies with a post-issue capital of below R4,000 crore are required to offer at least 25% stake in an IPO, while companies with above R4,000 crore post-issue capital are required to offer at least 10%. However, it created anomalies in borderline cases and companies slightly below the R4,000-crore mark showed valuation of the company as R4,000-crore plus.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.