had ordered Kolkatabased Saradha Realty India to close all its collective schemes and refund the money collected from investors within three months.
It also wants to prevent a repeat of cases like property developer DLF, penalised by SEBI
last year for disclosure problems around its record 2007 listing.
said the ban follows DLF's failure to provide key information on subsidiaries and pending legal cases at the time of its record-breaking 2007 initial public offering.
In fact SEBI
did not initiate action on the complaints of investors, but on grounds of Sahara violating company laws on raising funds from the public.
International investors have disposed of a net $3bn worth of Indian stocks since 3 June, according to SEBI
Since ULIPs comprise insurance policy as also the mutual fund, SEBI
had issued an order in April this year asserting its authority over the scheme.
The new rules follow the lines of a draft issued by Sebi
Besides addressing growing volumes of data, SAS gives SEBI
a single view of customers across exchanges.
officials say that despite increased monitoring and financial education programmes since the Sahara case and a spate of other scandals, they are still overwhelmed by a backlog of cases, as a financially illiterate adult population, less than half of whom have access to formal banking, continues to put its trust in local agents for such schemes.
Global Banking News-December 5, 2014--SBI to settle with Sebi
The Securities and Exchange Board of India, or Sebi
, has overhauled the regulations governing Employee Stock Option Plans (ESOPs).
17 ( ANI ): India's securities market, SEBI
, has issued a 'please explain' notice to Etihad Airways over its minority acquisition of Jet Airways.