SEBI

A notification on this count was issued by the Securities & Exchange Board of India (SEBI) on Monday, a copy of which is available with IANS. As per the notification, the market regulator is arranging for the auction following a direction of the one- man committee of Justice SP Talukdar.

SEBI in its order said, "It is apparent that the issuance of LoC to Yes Bank by Mr. Subhash Chandra in support of Associate Entities, the default by associate entities leading to appropriation of ZEEL's FD by Yes Bank, the circuitous transactions through connected entities to show receipt of funds by ZEEL from the associate entities.

Manoj Purohit, Partner and Leader, Financial Services Tax, BDO India, said risk-based classification is proposed in the consultation paper released by the Securities and Exchange Board of India (Sebi) last week. FPIs holding more than 50 per cent of their equity AUM in a single corporation or with an overall holding in Indian equity markets of over Rs 25,000 crore will be classified as 'high risk'.

While the SEBI investigation output was available to investors only on April 13, 2023, by which time the price had already eroded by around 85 percent from the peak, irregularities were there to be observed much before the dramatic rise and subsequent fall of BGL's share price, media reports said.

Sebi further added, "The application for extension of time filed by Sebi is meant to ensure carriage of justice keeping in mind the interest of investors and the securities market since any incorrect or premature conclusion of the case arrived at without full facts material on record would not serve the ends of justice, and hence would be legally untenable."

Market regulator SEBI, along with the exchanges, conducts regular inspection of brokers based on certain criteria and takes action as per its regulations and bye-laws of the Exchanges, Minister of State for Finance, Pankaj Chaudhary told the Lok Sabha in a written reply.

A division bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad also asked Yes Bank and the asset reconstruction company to respond. However, no formal notice was issued in the matter. Filed as a PIL, Swamy has also sought direction from the Centre, RBI and SEBI to formulate proper and comprehensive guidelines in view of recommendations of the committee to check similar agreements or transactions in future.

As per the CCI, the Proposed Combination envisages the acquisition of 51 per cent and 49 per cent of equity share capital of L&T IDPL from Larsen and Toubro Limited and CPPIB India Private Holdings Inc., respectively, by ECPL; and 100 per cent of the equity share capital of KTL (a wholly-owned subsidiary of L&T IDPL) by IYP II.

The research is an analysis of reports from top 1,000 listed entities over the past three fiscal years. A stark improvement in the ESG disclosures by companies was noted based on their Integrated Reports, Sustainability Reports, and Business Responsibility and Sustainability Reports (BRSR). This further led to an upgrade in the ESG scores of these companies.

The Centre also wanted to provide details such as names and the scope of the panel’s mandate in a “sealed cover”.  The Securities and Exchange Board of India (SEBI) also informed the Supreme Court that it was already conducting an investigation into the Hindenburg report and related market activities. SEBI submitted a 25-page note to a bench led by Chief Justice of India Dhananjaya Y Chandrachud, stating that it did not object to the formation of a committee, as proposed by the court on February 10.