The Securities and Exchange Board of India (Sebi) has told the Bombay High Court that it was investigating complaints against Financial Technologies and its connected entities and promoters including founder Jignesh Shah.

The complaints filed by investors of National Spot Exchange Limited (NSEL) alleged several irregularities and violations of Sebi Act and alleged breach of Regulations such as (a) Insider Trading Regulations; (b) Fraudulent and Unfair Trade Practices and (c) Failure of disclosure under the Takeover Code and other issues.

Corporate Affairs Minister Arun Jaitley has informed Parliament that the Securities and Exchange Board of India (SEBI) has not published any list of more than 100 benami, bogus ponzy scheme companies.

He said in a written reply to the Lok Sabha that chit funds are regulated under the Chit Funds Act, 1982 and require previous sanction of the state governments. He also said that the Prize Chit and Money Circulation (Banning) Act, 1978 bans prize chits and money circulation activities is enforced by state governments.

Capital markets regulator Sebi has started cracking down on offshore units of major global banks for their suspected role in manipulation of share prices in the Indian stock market.

Top officials said the regulator is closely looking at possible instances where share prices of companies listed in the domestic stock market are being manipulated through offshore centres of foreign banks.

The Securities and Exchange Board of India (Sebi) has banned Trinamool Congress MP Kanwar Deep Singh and his associates from participating in the market for alleged illegal fund raising by an entity called Alchemist Capital. The regulator has asked the company and people associated with it including Singh to refund over Rs 165 crore raised from investors with 15 per cent interest compounded half yearly. Sebi has said if the proof of compliance with the directions of refund were not submitted in three months' time, it would initiate criminal action against promoters and directors.

The Securities and Exchange Board of India (Sebi), equipped with the additional power of taking action in illegal mobilisation of funds through collective investment schemes (CIS), is yet to overcome the hurdle of local constraints, sources say.

According to people familiar with the matter, the markets regulator has adopted a pro-active approach to look into complaints of probable cases of CIS and taking action, but any such action leads only to half a crackdown.

Mumbai: The Securities and Exchange Board of India (Sebi) has cautioned investors against investing money in companies that make a public offer without complying with the necessary legal and regulatory framework. Since January 2013, the capital market watchdog has taken action against 193 such entities, according to a press release issued on Friday.

“Some unlisted companies are luring retail investors by issuing securities, including non-convertible and convertible debentures/ non-convertible and convertible preference shares/ equity shares in the garb of private placement, without complying with the provisions of Companies Act, 1956 read with the Companies Act, 2013, Sebi (Issue and Listing of Debt Securities), Regulations, 2008, Sebi (Issue and Listing of Non-Convertible Redeemable Preference Shares), Regulations, 2013 and Sebi (Issue of capital and Disclosure Requirements) Regulations, 2009,” said the release.

Securities and Exchange Board of India (SEBI) has cancelled Sahara Asset Management Company's license, saying it is not fit to carry out the business of mutual fund.

Sahara's fund management license would reportedly stand cancelled two months from the date of the order.

Markets regulator the Securities and Exchange Board of India (Sebi) has intended to treat brokers of commodity exchanges at par with their counterparts at equity exchanges in terms of registration and transaction fee ahead of registration process.

In a meeting recently held with representatives of commodity broking fraternity, Sebi said that commodity brokers should be treated at par with equity brokers and therefore, pay uniform registration fee of Rs 50,000 per member as currently paid by equity brokers.

The Securities and Exchange Board of India (Sebi) is not in favour of providing the details of the participatory note (PN) holders to the income tax department as desired by the Special Investigative Team (SIT) on black money.

A senior Sebi official told The Financial Express, “It will tantamount to a roving inquiry and that is not right and will hurt investment into the country as no investor would invest after knowing that his details are being given to the income tax department”.

The Securities and Exchange Board of India (Sebi) was gathering legal opinion on the listing of cooperatives, sources said.

Any group of individuals can form a cooperative society to act jointly for common benefit. Shares of cooperative societies in India are not offered to the public.

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