SEBI issues settlement order to Utkarsh Small Finance Bank
The Securities and Exchange Board of India (SEBI) has issued a settlement order to Utkarsh Small Finance Bank upon the payment of Rs 1.24 crore by the lender.
The Securities and Exchange Board of India (SEBI) has issued a settlement order to Utkarsh Small Finance Bank upon the payment of Rs 1.24 crore by the lender.
The SEBI said this in an adjudication order where it imposed a penalty of Rs 2 lakh on Williamson Magor and Company Ltd (WMCL).
In FY2024, the Indian equity market witnessed a phenomenal performance as benchmark indices soared to unprecedented all-time highs
The RBI said the rupee is among the least volatile currencies and is steadily appreciating. "The INR has been bolstered by a pick-up in foreign direct investment by 11.4 percent year-on-year in October-December 2023," it said.
Reacting to the development, the IREDA stock fell 3.2% to quote Rs 125.2 apiece on the NSE in the early morning trade.
AT-1 bonds are considered perpetual in nature, similar to equity shares as per the Basel III guidelines. They form part of the tier-I capital of banks.
In a radical shift from the current methodology where the call option date of the bond was considered for calculation, the regulator has also directed MFs to value perpetual bonds (AT1) based on a 100-year maturity.
The Surat-based company has decided to reserve a portion of the offer for its employees and may consider a discount for eligible staff.
SAT, however, has directed Future Group promoters to deposit a sum of Rs 11 crore as an interim measure. The case will now come up on April 12, 2021.
As per the Companies Act, 2013, every buyback needs to be completed within one year from the date of passing of the special resolution at a general meeting, or the resolution passed by the board of directors of the company.
