SEBI Relaxes Restrictions on 201 Entities
Sebi has eased restrictions on 201 entities against whom it had taken action in two different cases of alleged misuse of stock market platform for tax evasion and suspected money-laundering activities.
The entities, which were barred from the securities market in two different cases, have now been given certain relaxations, including permission to deal in government securities and invest in ETF (exchange-traded funds).
Besides, they can enter into delivery-based transactions in cash segment in NSE Nifty 500 index as well as S&P BSE 500 shares and subscribe to mutual funds.
Among others, these entities can tender shares lying in their demat account in any open offer/delisting under the relevant Sebi regulations.
In the matter of Radford Global Ltd, the watchdog had barred the company and 108 related entities in December 2014.
Out of them, 102 entities including Radford Global have been given the relaxations.
In a separate case of Mishka Finance and Trading, Sebi had barred the company and 128 other entities from the securities market. Now, relaxations have been extended to 99 entities.
“I deem it appropriate to make further relaxations so as to address the issues of the personal and business exigencies or other liquidity problems,” Sebi Whole-time Member Rajeev Kumar Agarwal said in two separate but similarly-worded orders.
As per the latest orders, the entities for whom relaxations have been extended can sell the securities lying in their demat accounts as on the date of interim orders. This will exclude shares of the companies which are suspended from trading by stock exchanges concerned.
Besides, sale proceeds lying in the escrow account can be used for certain purposes.
Sebi said, “up to 25 per cent of the value of the portfolio as on the date of the interim order or the amount in excess of the profit made/loss incurred or value of shares purchased to give exit, whichever is higher, may be utilised for business purposes and/or for meeting any other exigencies or addressing liquidity problems etc”.
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
