Reliance Industries, a leading Indian conglomerate, has received a warning from the Securities and Exchange Board of India (Sebi) over alleged insider trades in its shares. The company has assured investors that it will take necessary steps to address the concern mentioned in the Sebi letter.
The long-awaited NSE IPO is set to move a step closer, with the country’s largest stock exchange expected to file its preliminary papers with SEBI next week. The public issue will be entirely an offer for sale (OFS), with no fresh issue component, and is expected to be among the largest in India’s capital markets.
The Reserve Bank of India (RBI) has issued final guidelines on lending to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) in India. Banks can lend to these trusts if they meet certain eligibility criteria and risk weightages.
Sebi has ordered a ban on Rajesh Exports chief, Rajesh Mehta, for allegedly inflating the company’s revenues over several years. The company’s stock price has taken a hit, with investors advised to closely monitor the situation.
Sebi bars Rajesh Mehta, promoter and CEO of Rajesh Exports, from dealing in the company’s securities due to alleged financial misrepresentation and fund diversion. The company’s stock has declined significantly, hitting the lower circuit limit on both the BSE and NSE.
Sebi cracks down on Rajesh Exports, alleging extensive financial irregularities and non-cooperation. The market regulator’s interim order restricts Rajesh Mehta and appoints a new forensic auditor.
Sebi’s investigation reveals prima facie evidence of financial irregularities at Rajesh Exports, with allegations of overstated revenues and non-cooperation during the investigation. Learn more about the market impact and what’s next for the company.
The SEBI panel is considering a proposal to cap dividend payout by clearing corporations to strengthen their balance-sheets and ensure stability in the face of growing trading volumes. Other regulatory measures being examined include directly crediting interest earned by clearing corporations to the SGF and exchanges sharing a bigger slice of transaction charges with clearing corporations.
