SEBI

"Kunal Ashok Kashyap and M/s Allegro Capital Private Limited shall not buy, sell or otherwise deal in the securities market in any manner whatsoever or access the securities market, directly or indirectly, for a period of one year from the date of this order," it said. The market regulator has also imposed a penalty of Rs 10 lakh each on the investment advisory firm and its head.

The capital market regulator, defining 'same line of business', said that at least 50 per cent of revenue from the operations of the listed holding and listed subsidiary company must come from the same line of business. Further, not less than 50 per cent of the net tangible assets of the listed holding and listed subsidiary must have been invested in the same line of business.

On Monday, the Securities and Exchange Board of India (SEBI) released the standard operating procedures for handling of technical glitches by Market Infrastructure Institutions. The penalties or the financial disincentives by stock exchanges, depositories and their MDs would be credited to the Investor Protection Fund and that from the clearing corporations would go to the Core Settlement Guarantee Fund.

As per the amended norms to be effective from January 1, 2022, appointment, re-appointment and removal of independent directors shall be made through a special resolution of shareholders for all listed entities. Further, the composition of NRC has been modified to include two-third IDs instead of existing requirement of majority of IDs.

As per the current norms, a mandatory open offer of 26 per cent is required for acquisition of shares held by all shareholders other than the acquirer, if the acquirer has agreed to acquire shares representing an entitlement to vote (25 per cent or more), or control over a listed company.

"The current resolution bearing item no. 1 of EGM notice dated May 31, 2021 is ultra-vires of AOA (articles of association) and shall not be acted upon until the company undertakes the valuation of shares as prescribed under 19(2) of AOA, for purpose of preferential allotment, from an independent registered valuer as per the provisions of applicable laws," a regulatory filing by PNB Housing Finance quoted the letter as saying.

The SEBI has asked the depositories and stock exchanges to make necessary arrangements such that the disclosures pertaining to listed debt securities, along with equity shares and equity derivative instruments, are disseminated on the websites of respective stock exchanges with effect from July 1, 2021.

The capital market regulator on Monday imposed a penalty of Rs 3 crore on Franklin Templeton Trustee Services and a Rs 2 crore penalty on Franklin Templeton Asset Management (India) Pvt Ltd CEO Sapre. CIO Santosh Kamat, Chief Compliance Officer Saurabh Gangrade, along with fund managers Kunal Agarwal, Pallab Roy, Sachin Padwal Desai and Umesh Sharma, have also been fined.

The move would also allow the company to meet SEBI's minimum public shareholding norms. In a regulatory filing on Sunday, Ruchi Soya said that the Issue Committee, constituted by the board, on June 12 approved the raising of funds and also approved the draft red herring prospectus to be filed with the capital market regulator.

In a letter to the investors, Franklin Templeton Asset Management (India) Pvt Ltd President, Sanjay Sapre, said that the order has no impact on any scheme across segments managed by the fund house. "The SEBI order does not impact the current monetisation process of the six debt schemes under winding up being undertaken by the liquidator.