Capital market regulator Securities and Exchange Board of India (Sebi) has charged 22 entities, including Gujarat Chief Minister Vijay Rupani’s Hindu Undivided Family (HUF), for “manipulative trades” in little-known company Sarang Chemicals.

The regulator has imposed separate penalties amounting to Rs 6.9 crore on the 22 entities, which Sebi investigation found were “connected or related”. Rupani’s HUF has been asked to pay Rs 15 lakh, while three other individuals would have to shell out Rs 70 lakh or more each.

The income-tax department and the capital markets regulator on Monday said they will be scrutinizing the so-called Paradise Papers—documents obtained by a global network of investigative journalists—to see if any Indian individual or companies were guilty of wrongdoing.

While the income-tax authorities will investigate companies allegedly evading taxes by using complex offshore structures, the market regulator will be scrutinizing disclosures.

Markets regulator Sebi will look into alleged fund diversion and corporate governance lapses at various listed firms and their promoters, including those linked to Vijay Mallya, named in the leaked 'Paradise Papers'.

While some entities linked to Mallya are already being probed by Sebi and other agencies, any fresh disclosure in the leaked documents made public by ICIJ (International Consortium of Investigative Journalists) would be thoroughly looked into, senior officials said.

Markets regulator Sebi has sought clarifications from merchant bankers of 10 firms, including Lemon Tree Hotels and CMS Info Systems, regarding their proposed initial public offers (IPOs). Together, these companies are estimated to raise more than Rs 6,000 crore, according to merchant banking sources. The other companies are ACME Solar Holding, H G Infra Engineering, Apollo Micro Systems, Prince Pipes and Fittings, Newgen Software Technologies, Seven Island Shipping, Karda Constructions and Amber Enterprises, according to the latest update by Sebi. Without disclosing details of clarifications sought, Sebi has said “clarifications (are) awaited from lead manager(s)” for the proposed public issues.

Market regulator Securities and Exchange Board of India (Sebi) on Thursday revised the framework for 'block deals' by providing two separate trading windows of 15 minutes each and increasing the minimum order size to Rs 10 crore.

The move is aimed at ensuring confidentiality of the large trades and stable prices for such transactions. The block deal window is provided for buyers and sellers to execute trades for a large number of shares. Such deals are usually negotiated before their execution.

Capital markets regulator Sebi on Monday disposed of proceedings against Prannoy Roy, Radhika Roy and RRPR Holdings Pvt Ltd in a case related to alleged delay in disclosure about their aggregate shareholding in NDTV.

The three are among the promoters of NDTV, and the case relates to their alleged delay in disclosing their aggregate shareholding and voting rights in the company after the end of the 2011-12 fiscal year. Under Sebi norms, promoter entities are required to make disclosures regarding the aggregate shareholding and voting rights as of March 31 within seven working days from the end of each financial year to stock exchanges concerned.

MUMBAI: Markets regulator Sebi has launched an investigation into a scam which involves unscrupulous agents who are making a killing by fraudulently transferring shares from the account of a deceased holder, which are in physical form and have not been claimed by the nominee or the legal heir, into illegal accounts.

These agents use unlawful means to get hold of shares unclaimed by legal heir of the deceased, convert them into demat (shares into electronic form) mode to sell in the market, transfer the funds into bank accounts set up for the purpose, and make cash withdrawals. It is suspected that the fraud is being carried out by the agents in connivance with employees of share transfer agencies, companies, banks and some government offices, sources said.

Regulator Sebi has banned Grass Root Finance & Investment Company (India) Ltd and 13 others from the capital markets for raising funds without complying with the public issue norms.

A probe by Sebi found that the company had issued equity shares to 9,321 people between 1995-96 and 2006-07 and raised Rs 6.80 crore through such issuance.

The Securities and Exchange Board of India constituted a committee on Monday to review the norms for market infrastructure institutions such as stock exchanges, depositories and clearing corporations. The committee will be headed by former Reserve Bank of India deputy governor R. Gandhi.

Sebi’s move comes after it proposed a review of regulations related to ownership and governance of market infrastructure institutions earlier this year.

Securities and Exchange Board of India (SEBI), the country's market regulator, filed a contempt petition against Sahara's Subrato Roy and other senior executives for allegedly obstructing the auction of its prized Aamby Valley.

Representing SEBI, advocate Pratap Venugopal, mentioned the matter before a bench led by the Chief Justice of India Dipak Misra and submitted that the approximately Rs 37,000 crore project "had adopted subterfuge methods to avoid auction of the property."

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.