Market regulator Sebi has slapped a total penalty of Rs 60 lakh on nine entities for indulging in manipulative trading in the scrip of Exdon Trading Company Ltd. Out of the nine entities, Henal C Patel, Dantara Amish Vijaykumar and Henal Hemantbhai Shah have been fined Rs 10 lakh each while others including Dhanlaxmi Lease Finance have been fined Rs 5 lakh each. These nine entities are the noticees.

Sebi on Thursday slapped a Rs 2 lakh fine on IFCI Financial Services for “lackadaisical behaviour” as it failed to comply with power of attorney guidelines.

IFCI Financial Services is a depository participant of National Securities Depositories Ltd and Central Depositories Securities Ltd.

Fortis Healthcare Ltd (FHL) informed the Delhi High Court that Sebi has asked it to to recover Rs 403 crore from former Ranbaxy Laboratories Ltd promoters Malvinder and Shivinder Singh, who allegedly diverted funds of FHL and its subsidiary Fortis Hospital Ltd.

FHL made the submission in a recent affidavit filed in an ongoing case by Japanese drugmaker Daiichi Sankyo against the Singh brothers and their firms.

The Securities and Exchange Board of India (Sebi) has sent show-cause notices to Kotak Mut­ual Fund and HDFC Mutual Fund, seeking details about their investments in the debt instruments of Essel Group companies. Essel Group promoters have sought time to repay their lenders.

Both fund houses had exposure to Essel Group companies in their fixed maturity plans (FMPs).

Mumbai: Even after entering his third and final year as the chairman of Securities and Exchange Board of India (Sebi), Ajay Tyagi is yet to implement an institutional mechanism for handle investigations and queries by external agencies such Central Bureau of Investigation (CBI), income tax.

With an aim to enable the further recapitalisation of public sector banks (PSBs), the Finance Ministry may seek a relaxation for PSBs in the market regulator Sebi’s norms for entities requiring promoters to have 75 per cent holdings in them, according to a senior official source

The Securities and Exchange Board of India (Sebi) listing norms mandate that every listed entity will maintain a minimum public shareholding of 25 per cent.

Mumbai: Sebi’s investigation into the NSE co-location scam has found that there was serious misuse of confidential and price sensitive data provided by the NSE to Ajay Shah for creating the Liquidity Index (LIX).

Sebi has held that Shah—a senior academic with the government think-tank National Institute of Public Finance and Policy —along with his sister-in-law and an NSE official,

The Securities and Exchange Board of India (Sebi), which probed alleged lapses in the high-frequency trading offered through National Stock Exchange (NSE)'s co-location facility, has directed the bourse to pay Rs 625 crore along with the interest. Sebi estimated that NSE had earned a profit of Rs 624.89 crore during 2010-11 to 2013-14 from its co-location operation.

New Delhi: A series of top-level promotions last week has ended the suspense over allocation of new portfolios at State Bank of India. In one of the biggest human resource (HR) rejigs in recent years, India’s largest lender has promoted eight top officials as deputy managing directors (DMDs) and 21 as chief general mangers (CGMs).

The internal promotions fills a vacuum created at the bank’s top-deck after the government, in September last year, appointed 10 senior executives from SBI as managing directors and chief executive officers in other state-owned banks. Half of them were DMDs at the bank.

Mumbai: Based on the recommendations of the Kotak panel, the Securities and Exchange Board of India had decided to restrict royalty payments to 2%. Royalty payment is the fee paid by Indian subsidiaries to overseas parent companies for the usage of the brand.

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