Former Kerala Chief Minister and Leader of the Opposition Pinarayi Vijayan has moved the Securities and Exchange Board of India (SEBI), seeking its intervention in the Adani Group's proposed $1.4 billion (Rs 13,220 crore) stake sale in the Vizhinjam Port project, alleging that the move violates the project's concession agreement.
The Securities and Exchange Board of India (Sebi) has proposed extending the facility of Direct Market Access (DMA) to all categories of investors, a move that could allow retail and other investors to directly access trading platforms without routing orders through brokers.
The National Stock Exchange (NSE) filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Wednesday, June 17, according to official documents.
NSE has filed draft IPO documents with SEBI for an offer involving nearly 149 million shares. The issue is expected to be worth around Rs 30,000 crore and could become India's largest-ever public offering.
In its interim order, SEBI's investigation prima facie revealed instances of routing and layering of funds via personal accounts and related entities without adequate disclosures or supporting documentation.
All three complaints were dismissed, and the allegations were termed vexatious, frivolous, and politically motivated attempts to sensationalise regulatory matters.
Data from the SEBI website reveals that January saw the highest activity, with 28 companies filing draft papers, followed by 15 in February, 11 in March, 24 in April, and 12 so far in May.
Scam-hit Gensol Engineering Ltd informed the stock exchanges on Monday that the company’s Managing Director Anmol Singh Jaggi and his brother, whole-time Director Puneet Singh Jaggi, have resigned from their posts and, consequently, also cease to be members of various committees of the company.
While the company aims to bolster its working capital through the fresh issue of shares, financial details disclosed in the DRHP suggest some underlying challenges.
The crisis-ridden electric cab service BluSmart has appointed Grant Thornton to conduct a forensic audit of its operations, reports said.
