Sebi has ordered forensic audit of the financials of Tatia Global Venture and Nu Tek India, which were among the list of 331 suspected companies on whom trading curbs were imposed in August. Even as it has called for forensic audit, the regulator has lifted the trading restrictions imposed on them. Tatia Global Venture Ltd (TGVL) and Nu Tek India Ltd (NTIL) were in the list of 331 suspected shell companies that was provided by the corporate affairs ministry to Sebi. In recent weeks, the regulator has revoked the curbs on many such firms.

New Delhi: To improve corporate governance at listed companies, a high-profile Sebi panel has recommended payments made by such entities to related parties for usage of brand and royalty should need approval from majority of non- promoter shareholders.

In case, where royalty payout levels exceed 5% of consolidated revenues, the panel headed by eminent banker Uday Kotak suggested the terms of conditions of such royalty must require shareholders’ approval.

The corporate governance panel of the Securities and Exchange Board of India (Sebi) has recommended more checks and balances on royalty and brand payments, related-party transactions and sharing of information between management and entities not part of the board.

Among the key recommendations by the committee is one on the aspect of exchange of price-sensitive information between companies and a promoter no longer a part of the board or management.

Mumbai: The Securities and Exchange Board of India (Sebi) has written to Raymond Ltd questioning the textile maker’s real estate agreements for JK House Ltd and a property at Alibaug used as a guest house, said three people with direct knowledge.

The regulator has also questioned whether the firm made any related-party transactions that were not reported to shareholders after Sebi’s Listing Obligation and Disclosure Requirements (LODR) norms came into force in September 2015, these people said.

Sebi has kept processing of Barbeque Nation Hospitality's proposed IPO in abeyance "pending regulatory action for past violations", the latest update with the markets regulator showed.

However, the Securities and Exchange Board of India (Sebi) did not clarify on whether violations have been committed by the company or related entities.

Markets regulator Sebi plans to put in a framework for continuous listing norms for listed entities, according to a regulatory source. The move comes when multiple agencies and regulators are clamping down on suspected shell companies as part of larger efforts to curb undisclosed money.

The Securities and Exchange Board of India (Sebi) has strict norms for listed entities and these are updated on a continuous basis.

The Securities and Exchange Board of India (Sebi) may allow mutual funds to trade in commodity derivatives, the capital markets regulator’s executive director SK Mohanty said on Tuesday. “The participation of mutual funds is in an advanced stage of examination,” Mohanty said, while interacting with reporters on the sidelines of a conference on commodities markets organised by Federation of Indian Chambers of Commerce and Industry (Ficci).“We have taken the feedback. On the basis of that, we will finalise the regulatory mechanism,” he said. The executive director said that a decision on allowing mutual funds could be taken in the next six months.

Mumbai: India’s capital markets regulator is likely to allow mutual funds to trade in commodity derivatives and a decision is expected within six months, a senior official said on Tuesday.

Such a move would help deepen the market and provide hedging opportunities to large companies that trade overseas due to limited liquidity at local exchanges.

New Delhi: Regulator Sebi has lifted trading ban on 244 entities which came under the scanner for alleged misuse of stock market platform for tax evasion, saying it did not find any "adverse evidence" against them.

The move comes after Securities and Exchange Board of India (Sebi) earlier this month revoked ban on more than 500 entities in four separate cases. These are Radford Global case; Pine Animation; First Financial as well as the matter of dealing in shares of Eco Friendly Food Processing Park, Esteem Bio Organic Food Processing, Channel Nine Entertainment and HPC Biosciences.

Markets regulator Sebi has imposed a penalty of Rs 9 lakh on ING Vysya Bank’s former official for violating insider trading regulations. The fine was levied on Vinay Agrawal, who was regional head of business banking in ING from August 2011 till June 20, 2012. Later, he held the position of zonal head of cluster business banking till October 10, 2013. The Securities and Exchange Board of India (Sebi) had initiated adjudication proceedings against Agrawal, who was alleged to have not complied with PIT (Prohibition of Insider Trading) Regulations.

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