Tag: SEBI
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Inter Se Promoter Exemption for Takeovers: Computation of Holding Period
Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:Cambria; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin;} A few days ago, SEBI made public its informal guidance issued to Weizmann Forex Ltd. on October 25, 2012. In this case,…
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SEBI’s Recent Securities Markets Announcements
Last week, SEBI took certain decisions in the form of minor reforms to the securities markets, both primary and secondary. As part of a process that began nearly 3 years ago, SEBI has further liberalized the process for dilution of promoter shareholding in listed companies, since a deadline of June 2013 has been set to…
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SEBI’s Proposal to Overhaul Corporate Governance Norms
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Proposed modifications to buyback provisions
SEBI has just placed a discussion paper on its website entitled “Proposed modifications to the existing framework for buy back through open market purchase” for public comments. Comments on the discussion paper have been solicited on or before January 31, 2013. Upon a review of the current regulations and studying the market dynamics, the key…
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SEBI penalises front-running again, does not follow SAT’s order
0 0 1 721 4114 Jayant M. Thakur & Co., CAs 34 9 4826 14.0 Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; mso-pagination:widow-orphan; font-size:12.0pt; font-family:Cambria; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin; mso-fareast-language:JA;} There is yet another…
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Another SAT Order on Front Running
Last month, Mr. Jayant Thakur had discussed an order of the Securities Appellate Tribunal (SAT) in the case of Dipak Patel where SAT interpreted the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Markets) Regulations, 2003 (the “PFUTP Regulations”) to mean that front running is not a crime unless it is committed…
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RTI Act and SEBI Investigations
This is a bit dated (academic duties prevented regular blogging over the last few weeks), but on November 6, 2012, the Chief Information Commissioner (CIC) passed an order requiring SEBI to provide information regarding its investigation “into allegations of insider trading and short sale of shares pertaining to the shares of Reliance Petroleum in 2007”.…
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Should Government Companies Be Exempt From the Takeover Regulations?
Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:Cambria;} Today’s Business Standard carries a report indicating that SEBI is in the process of considering a general exemption to the Government from making a mandatory open…
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Regulatory Reforms in the Capital Markets
SEBI has taken steps in the last few weeks to bring about reforms in the capital markets, particularly in the primary market segment. The first set of reforms essentially gives effect to decisions taken at SEBI’s board meeting on August 16, 2012. These include matters relating to both the equity markets, where the SEBI (Issue…
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AIF Regulations: Meaning of Ownership Interests and Investor Interests in a Company – Part III
[The following post is the last of the series contributed by Vinod Kothari and Soma Bagaria. The authors can be reached at vinod@vinodkothari.com and soma@vinodkothari.com respectively. The first two posts in the series can be found here and here.] In India, a company form of a fund is not very prevalent because of several constraining…
