-PTI MUMBAI: A long-drawn case involving funds raised by two Sahara firms through 'various illegalities' seems to have made SEBI a preferred agency for all kinds of queries about the group, with the latest being whether the Lucknow-based conglomerate falls under the purview of RTI Act. After SEBI rejected the information sought from it through an RTI (Right To Information) application in this regard, the appellant approached the Appellate Authority but the...
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Where there is a will, not bill, there is a way
-The Telegraph Two companies running investment schemes have been shut down in Bengal within 48 hours of little more than an assertion by the chief minister, raising questions why the Trinamul government dragged its feet on Saradha by citing lack of legislation and complaints. Police have sealed some offices of MPS Greenery Developers Ltd and Prayag Infotech Hi-Rise Ltd following complaints of cheating. Both figure on a list of companies against which...
More »Reliance Industries unit fined Rs. 11 crore for insider trading
-Reuters Mumbai: The Securities and Exchange Board of India (SEBI) has fined a unit of energy conglomerate Reliance Industries Ltd Rs. 11 crore over a 2007 insider trading case. The company, Reliance Petroinvestments Ltd, has 45 days to pay the fine, the SEBI said in its ruling published late on Thursday. The regulator said Reliance Petroinvestments made a profit of Rs. 3.83 crore through several trades between February and March 2007 that were...
More »The curious case of 5,984 Kalawatis in Sahara list -Appu Esthose Suresh
-The Indian Express By May 2, Sahara India Real Estate Corporation Ltd (SIRECL) has to prove the "genuineness" of all its investors to the Supreme Court. It has a difficult task on its hands: the name ‘Kalawati' figures 5,984 times on that list, same names appear against different locations, and geography takes a giant leap with ‘Jaipur Nagpur Maharashtra' and ‘187 Aurangabad Lucknow UP' mentioned as addresses. SIRECL had given the list...
More »SEBI says working hard to protect investors from ponzi schemes
-PTI The regulator is working hard to ensure that small investors' savings are not put to risk, says SEBI chief U.K Sinha With lakhs of investors getting defrauded by Ponzi schemes in West Bengal, Securities and Exchange Board of India (SEBI) chairman U.K Sinha on Wednesday said the regulator is working hard to ensure that small investors' savings are not put to risk. "Within the powers given to us, SEBI is working extremely...
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