Tag: SEBI
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SEBI Bans Anil Ambani from Trading for 5 Years, Fines Him Rs 25 Crore !
Industrialist Anil Ambani and 24 other entities, including former senior officials of Reliance Home Finance, have been banned from the securities market for five years by the markets regulator Securities and Exchange Board of India (Sebi) for diverting cash from the company. Ambani has been fined Rs 25 crore by Sebi and is prohibited for…
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Vijay Mallya Faces Three-Year Ban from Securities Market by SEBI
India’s markets regulator, Securities and Exchange Board of India (Sebi), has recently issued an order that prohibits fugitive businessman Vijay Mallya from participating in the securities market for a period of three years. This decision was made after discovering that Mallya had channeled funds into the Indian securities market using intricate transactions to conceal his…
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“SEBI Labels L&T AMC Exoneration ‘Erroneous,’ Slaps Rs 5 Lakh Fine on HSBC AMC”
Sebi has fined HSBC Asset Management (India) Rs 5 lakh after finding that a 2023 order which cleared the fund house during an investigation was incorrect. The penalty is related to activities by L&T AMC, which was purchased by HSBC Group in May 2023 and later merged with HSBC AMC in October 2023. Sebi was…
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“SEBI Introduces New AIF Norms on Dissolution Period and Distribution Regulations”
To enhance the efficiency of the liquidation process, the Securities and Exchange Board of India (SEBI) has introduced new regulations that govern Alternative Investment Funds (AIFs) during the dissolution and asset distribution stages. The updated rules require AIF schemes that are nearing dissolution to submit an information memorandum through a designated merchant banker before the…
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“KMIL Clarifies: Hindenburg Was Never a Client or Investor of the Firm”
KMIL and KIOF have clarified that Hindenburg has never been a client or investor with them. The spokesperson for KMIL stated that the fund was not aware of any partnership with Hindenburg. Additionally, KMIL has received confirmation from the fund’s investor that investments were made independently. KIOF, a Sebi-registered foreign portfolio investor based in Mauritius,…
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SEBI Notice Sparks Controversy: Kotak Bank Fund and Hindenburg’s Alleged Short-Selling Against Adani !
Hindenburg Research criticized India’s markets regulator for its failure to address the alleged fraud in a report on the Adani Group last year. The short-seller claimed to have made gains of over $4 million during the market turmoil that followed the release of the report. According to Hindenburg, the Securities and Exchange Board of India…
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“Transparency in Action: Quant Mutual Fund Clarifies Sebi Investigation into Front-Running Case”
Quant Mutual Fund has released a statement following a media report that implied an investigation by the Securities and Exchange Board of India (Sebi) into alleged front-running activities. The company has reassured investors of its dedication to cooperation and transparency. The statement emphasized that Quant Mutual Fund is a regulated entity and is fully committed…
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“SEBI Mandates KRAs to Update KYC Information on Central KYC Records Registry”
The Securities and Exchange Board of India (Sebi) has taken a step towards simplifying the Know Your Customer (KYC) process by instructing KYC Registration Agencies (KRAs) to integrate their systems with the Central KYC Records Registry (CKYCRR) and commence uploading verified KYC information of clients from August 1, 2024. Previously, market intermediaries such as stock…
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“Death of Subrata Roy” unveils a massive hidden sum of 25,000 crores in an SEBI account !
Subrata Roy passed away on Tuesday evening. He passed away at his residence in Mumbai after a long-term illness. Subrata’s company account of over 25,000 crore rupees is again being discussed. The order to distribute the money among the customers. A new practice has started after Subrata’s death. However, Subrata Roy got into legal trouble.…