The recent allegations by Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch, have ignited a political storm, with opposition parties demanding a Joint Parliamentary Committee (JPC) to investigate the matter. Now Leader of Opposition in Lok Sabha, Rahul Gandhi has commented that the integrity of SEBI "has been gravely compromised".&nbsp;

<h2 bis_size="{&quot;x&quot;:8,&quot;y&quot;:103,&quot;w&quot;:723,&quot;h&quot;:26,&quot;abs_x&quot;:41,&quot;abs_y&quot;:1979}">Rahul Gandhi slams PM Modi</h2>

"The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by the allegations against its chairperson," alleged the Rae Bareli MP.

Slamming Indian Prime Minister Narendra Modi, Gandhi said, "It is now abundantly clear why Prime Minister Modi is so afraid of a JPC probe and what it might reveal."

Also read |&nbsp;<a bis_size="{&quot;x&quot;:8,&quot;y&quot;:264,&quot;w&quot;:692,&quot;h&quot;:34,&quot;abs_x&quot;:41,&quot;abs_y&quot;:2140}" href="https://www.wionews.com/india-news/hindenburg-allegations-on-sebi-chief-adani-opposition-reacts-to-reports-findings-749103">Modi govt steeped in corruption...: Indian opposition reacts to Hindenburg's report on SEBI chief, Adani Group</a>

Addressing the Indian public, Gandhi asked them to imagine "an international cricket match between India and Australia, and every single person who is watching the match and those playing the match know that the umpire is compromised."

"What would happen to the match? What would happen to the fairness of the match and the outcome? How would you feel as somebody who is participating in the match? This is exactly what is happening in the Indian stock market," he said in the video message.

Gandhi said that honest investors across India have pressing questions for the Modi government.&nbsp;

"Why hasn't SEBI Chairperson Madhabi Puri Buch resigned yet?" asked Gandhi.&nbsp;

"If investors lose their hard-earned money, who will be held accountable—PM Modi, the SEBI Chairperson, or Gautam Adani?"

Watch what he said here:

<div bis_size="{&quot;x&quot;:8,&quot;y&quot;:594,&quot;w&quot;:723,&quot;h&quot;:236,&quot;abs_x&quot;:41,&quot;abs_y&quot;:2470}" class="ui-state-default" contenteditable="false">
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<blockquote bis_size="{&quot;x&quot;:121,&quot;y&quot;:605,&quot;w&quot;:495,&quot;h&quot;:215,&quot;abs_x&quot;:154,&quot;abs_y&quot;:2481}" class="twitter-tweet" data-media-max-width="560">
The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by the allegations against its Chairperson. 
 
Honest investors across the country have pressing questions for the government: 
 
- Why… <a bis_size="{&quot;x&quot;:336,&quot;y&quot;:751,&quot;w&quot;:154,&quot;h&quot;:14,&quot;abs_x&quot;:369,&quot;abs_y&quot;:2627}" href="https://t.co/vZlEl8Qb4b">pic.twitter.com/vZlEl8Qb4b</a>
— Rahul Gandhi (@RahulGandhi) <a bis_size="{&quot;x&quot;:445,&quot;y&quot;:779,&quot;w&quot;:93,&quot;h&quot;:14,&quot;abs_x&quot;:478,&quot;abs_y&quot;:2655}" href="https://twitter.com/RahulGandhi/status/1822638113753317572?ref_src=twsrc%5Etfw">August 11, 2024</a></blockquote>
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He also questioned whether India's top court will look into the "very serious allegation".

"In light of the new and very serious allegations that have surfaced, will the Supreme Court look into this matter suo moto once again?"

<h2 bis_size="{&quot;x&quot;:8,&quot;y&quot;:932,&quot;w&quot;:723,&quot;h&quot;:26,&quot;abs_x&quot;:41,&quot;abs_y&quot;:2808}">'Colonial arrogance of days bygone'</h2>

Senior advocate Mahesh Jethmalani has dismissed the Hindenburg allegations as a "pathetic damp squib".

"The announcement prior to its alleged big revelation itself reveals its motive: to destabilise India’s stock markets," alleged the&nbsp;former Rajya Sabha MP from the Bhartiya Janata Party.

"This reeks of colonial arrogance of days bygone and contempt by a rich country national fortified by safe harbour, of the economic sovereignty of an emerging nation," he added.

<div bis_size="{&quot;x&quot;:8,&quot;y&quot;:1108,&quot;w&quot;:723,&quot;h&quot;:190,&quot;abs_x&quot;:41,&quot;abs_y&quot;:2984}" class="ui-state-default" contenteditable="false">
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<blockquote bis_size="{&quot;x&quot;:121,&quot;y&quot;:1119,&quot;w&quot;:495,&quot;h&quot;:169,&quot;abs_x&quot;:154,&quot;abs_y&quot;:2995}" class="twitter-tweet">
<a bis_size="{&quot;x&quot;:198,&quot;y&quot;:1157,&quot;w&quot;:74,&quot;h&quot;:14,&quot;abs_x&quot;:231,&quot;abs_y&quot;:3033}" href="https://twitter.com/hashtag/Hindenburg?src=hash&amp;ref_src=twsrc%5Etfw">#Hindenburg</a>’s “Something big” is a pathetic damp squib, The announcement prior to its alleged big revelation itself reveals its motive: to destabilise India’s stock markets. The pre publicity ill behoves a reputed “research analyst “. As regards the “big” something there is… <a bis_size="{&quot;x&quot;:379,&quot;y&quot;:1219,&quot;w&quot;:147,&quot;h&quot;:14,&quot;abs_x&quot;:412,&quot;abs_y&quot;:3095}" href="https://t.co/QeKNO4gEFp">https://t.co/QeKNO4gEFp</a>
— Mahesh Jethmalani (@JethmalaniM) <a bis_size="{&quot;x&quot;:462,&quot;y&quot;:1247,&quot;w&quot;:93,&quot;h&quot;:14,&quot;abs_x&quot;:495,&quot;abs_y&quot;:3123}" href="https://twitter.com/JethmalaniM/status/1822586469812236409?ref_src=twsrc%5Etfw">August 11, 2024</a></blockquote>
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Also read |&nbsp;<a bis_size="{&quot;x&quot;:88,&quot;y&quot;:1314,&quot;w&quot;:565,&quot;h&quot;:16,&quot;abs_x&quot;:121,&quot;abs_y&quot;:3190}" href="https://www.wionews.com/india-news/for-a-discredited-short-seller-adani-group-hits-back-over-hindenburg-report-749115">'For a discredited short-seller...': Adani Group hits back over Hindenburg report</a>

<h2 bis_size="{&quot;x&quot;:8,&quot;y&quot;:1350,&quot;w&quot;:723,&quot;h&quot;:26,&quot;abs_x&quot;:41,&quot;abs_y&quot;:3226}">Hindenburg research allegations</h2>

On Saturday, US short seller Hindenburg alleged SEBI chairperson Madhabi Buch was in cahoots with Adani.

"We had previously noted Adani's total confidence in continuing to operate without the risk of serious regulatory intervention, suggesting that this may be explained through Adani’s relationship with SEBI Chairperson, Madhabi Buch."

"What we hadn't realised: the current SEBI Chairperson and her husband, Dhaval Buch, had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds, found in the same complex nested structure, used by Vinod Adani," said the US firm.

It said that its allegations were based on documents provided by a whistleblower and investigations carried out by other entities.

<h2>SEBI urges calm, points to ‘short positions’ disclaimer in report</h2>

India’s market regulator SEBI has meanwhile issued a statement on Sunday and urged investors to remain calm and conduct due diligence before reacting to the Hindenburg Research report, pointing out that it includes a disclaimer that the short-seller may hold short positions in the securities covered. 
 
“Investors should remain calm and exercise due diligence before reacting to such reports. Investors may also like to take note of the disclaimer in the report that states that readers should assume that Hindenburg Research may have short positions in the securities covered in the report,” the statement read.

(With inputs from agencies)

The recent allegations by Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch, have ignited a political storm, with opposition parties demanding a Joint Parliamentary Committee (JPC) to investigate the matter.

The recent allegations by Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch, have ignited a political storm, with opposition parties demanding a Joint Parliamentary Committee (JPC) to investigate the matter. Now Leader of Opposition in Lok Sabha, Rahul Gandhi has commented that the integrity of SEBI "has been gravely compromised". Rahul Gandhi slams PM Modi "The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by the allegations against its chairperson," alleged the Rae Bareli MP. Slamming Indian Prime Minister Narendra Modi, Gandhi said, "It is now abundantly clear why Prime Minister Modi is so afraid of a JPC probe and what it might reveal." Also read | Modi govt steeped in corruption...: Indian opposition reacts to Hindenburg's report on SEBI chief, Adani Group Addressing the Indian public, Gandhi asked them to imagine "an international cricket match between India and Australia, and every single person who is watching the match and those playing the match know that the umpire is compromised." "What would happen to the match? What would happen to the fairness of the match and the outcome? How would you feel as somebody who is participating in the match? This is exactly what is happening in the Indian stock market," he said in the video message. Gandhi said that honest investors across India have pressing questions for the Modi government. "Why hasn't SEBI Chairperson Madhabi Puri Buch resigned yet?" asked Gandhi. "If investors lose their hard-earned money, who will be held accountable—PM Modi, the SEBI Chairperson, or Gautam Adani?" Watch what he said here: The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by the allegations against its Chairperson. Honest investors across the country have pressing questions for the government: - Why… pic.twitter.com/vZlEl8Qb4b — Rahul Gandhi (@RahulGandhi) August 11, 2024 × He also questioned whether India's top court will look into the "very serious allegation". "In light of the new and very serious allegations that have surfaced, will the Supreme Court look into this matter suo moto once again?" 'Colonial arrogance of days bygone' Senior advocate Mahesh Jethmalani has dismissed the Hindenburg allegations as a "pathetic damp squib". "The announcement prior to its alleged big revelation itself reveals its motive: to destabilise India’s stock markets," alleged the former Rajya Sabha MP from the Bhartiya Janata Party. "This reeks of colonial arrogance of days bygone and contempt by a rich country national fortified by safe harbour, of the economic sovereignty of an emerging nation," he added. #Hindenburg’s “Something big” is a pathetic damp squib, The announcement prior to its alleged big revelation itself reveals its motive: to destabilise India’s stock markets. The pre publicity ill behoves a reputed “research analyst “. As regards the “big” something there is… https://t.co/QeKNO4gEFp — Mahesh Jethmalani (@JethmalaniM) August 11, 2024 × Also read | 'For a discredited short-seller...': Adani Group hits back over Hindenburg report Hindenburg research allegations On Saturday, US short seller Hindenburg alleged SEBI chairperson Madhabi Buch was in cahoots with Adani. "We had previously noted Adani's total confidence in continuing to operate without the risk of serious regulatory intervention, suggesting that this may be explained through Adani’s relationship with SEBI Chairperson, Madhabi Buch." "What we hadn't realised: the current SEBI Chairperson and her husband, Dhaval Buch, had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds, found in the same complex nested structure, used by Vinod Adani," said the US firm. It said that its allegations were based on documents provided by a whistleblower and investigations carried out by other entities. SEBI urges calm, points to ‘short positions’ disclaimer in report India’s market regulator SEBI has meanwhile issued a statement on Sunday and urged investors to remain calm and conduct due diligence before reacting to the Hindenburg Research report, pointing out that it includes a disclaimer that the short-seller may hold short positions in the securities covered. “Investors should remain calm and exercise due diligence before reacting to such reports. Investors may also like to take note of the disclaimer in the report that states that readers should assume that Hindenburg Research may have short positions in the securities covered in the report,” the statement read. (With inputs from agencies)

Hindenburg report: Rahul Gandhi says SEBI integrity ‘gravely compromised’, demands accountability from PM Modi

Opposition parties in India have strongly reacted to the US-based short-seller Hindenburg's allegations on Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch and the Adani group. In its report, Hindenburg alleged on Saturday (Aug 10) that Buch previously held investments in certain offshore funds that were also used by Adani Group.

SEBI chief vs Hindenburg: Hindenburg targets SEBI Chief in new report

SEBI chief vs Hindenburg: Hindenburg links SEBI Chief to Adani report

US-based short seller Hindenburg Research on Saturday (Aug 10) released a report citing whistleblower documents that&nbsp;Madhabi Buch, chairperson of market regulator Securities and Exchange Board of India (SEBI), and her husband, had stakes in offshore entities linked to&nbsp;the Adani Group's alleged financial misconduct.

Weeks before Buch's appointment to SEBI, her husband, Dhaval Buch,&nbsp;requested to transfer their investments into his sole control&nbsp;to avoid any scrutiny that may come with the high-profile regulatory job, the report said.&nbsp;

"She had a&nbsp;100 per cent interest in an offshore Singaporean consulting firm, called Agora Partners. On March 16, 2022, two weeks after her appointment as SEBI chairperson, she quietly transferred the shares to her husband," the report said.&nbsp;

It added that the couple's investments were siphoned through a complex, multi-layered offshore structure - raising suspicions over the purpose and legitimacy of the entire operation. Moreover, the money was parked in a fund, linked to&nbsp;associates of Vinod Adani, brother of Gautam Adani, who is chairman of Adani Group.

The report also highlighted the SEBI chief's role in&nbsp;promoting Real Estate Investment Trusts (REITs) in India - an asset class that significantly benefitted Blackstone, where her husband is a senior adviser.&nbsp;Prior to his adviser role,&nbsp;Dhaval had not worked for a fund, in real estate or capital markets.&nbsp;

The report&nbsp;comes 18 months after Hindenburg released its 'expose' on Adani --&nbsp;questioning the group's debt levels and use of tax havens. At the time, the report sent the conglomerate's fortunes into a tailspin which forced the company to abandon a $2.5 billion share sale.

<a href="https://www.wionews.com/videos/wikipedia-accuses-adani-staff-of-manipulation-while-adani-groups-market-rout-deepens-further-564787" target="_blank">WATCH |&nbsp;Wikipedia accuses Adani staff of Manipulation while Adani Group's market rout deepens further</a>

<iframe allowfullscreen="" autoplay="1" frameborder="0" height="350" src="https://www.wionews.com/videos/wikipedia-accuses-adani-staff-of-manipulation-while-adani-groups-market-rout-deepens-further-564787/embed" width="560"></iframe>

<h2>Opposition reacts&nbsp;</h2>

The Opposition has latched onto the new report and said it was now evident why the market regulator had not investigated the Adani Group comprehensively.&nbsp;

“SEBI's strange reluctance to investigate the Adani MegaScam has been long noted, not least by the Supreme Court's Expert Committee. That Committee had pointed out in its report that SEBI had in 2018 diluted and, in 2019, entirely deleted the reporting requirements relating to the ultimate beneficial (i.e. actual) ownership of foreign funds,” said senior Congress leader Jairam Ramesh.

<div class="ui-state-default" contenteditable="false">
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Here is our statement on the latest Hindenberg revelations 
 
Quis Custodiet Ipsos 
Custodies <a href="https://t.co/D1wGN2uJop">pic.twitter.com/D1wGN2uJop</a>
— Jairam Ramesh (@Jairam_Ramesh) <a href="https://twitter.com/Jairam_Ramesh/status/1822336942228287625?ref_src=twsrc%5Etfw">August 10, 2024</a></blockquote>
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Meanwhile, Trinamool Congress (TMC) MP Mahua Moitra also took a dig over the allegations, saying that “in true Adani style, even the SEBI chairman is an investor in his group”.

“Crony Capitalism at its finest,” she wrote on X.

<a href="https://www.wionews.com/business-economy/indias-market-regulator-slams-hindenburg-with-show-cause-notice-736946">Also read |&nbsp;India's market regulator slams Hindenburg Research with show-cause notice</a>

<h2>Buch reacts</h2>

On Sunday (Aug 11), Buch described the allegations against her as "baseless" and an attempt at "character assassination".&nbsp;

"Our life and finances are an open book," said Buch in a joint statement with her husband.&nbsp;

"It is unfortunate that Hindenburg Research, against whom SEBI has taken enforcement action and issued a show cause notice, has chosen to attempt character assassination in response to the same," they added.&nbsp;

(With inputs from agencies)

US-based short seller Hindenburg Research on Saturday (Aug 10) released a report citing whistleblower documents that Madhabi Buch, chairperson of market regulator Securities and Exchange Board of India (SEBI), and her husband, had stakes in offshore entities linked to the Adani Group's alleged financial misconduct.

US-based short seller Hindenburg Research on Saturday (Aug 10) released a report citing whistleblower documents that Madhabi Buch, chairperson of market regulator Securities and Exchange Board of India (SEBI), and her husband, had stakes in offshore entities linked to the Adani Group's alleged financial misconduct. Weeks before Buch's appointment to SEBI, her husband, Dhaval Buch, requested to transfer their investments into his sole control to avoid any scrutiny that may come with the high-profile regulatory job, the report said. "She had a 100 per cent interest in an offshore Singaporean consulting firm, called Agora Partners. On March 16, 2022, two weeks after her appointment as SEBI chairperson, she quietly transferred the shares to her husband," the report said. It added that the couple's investments were siphoned through a complex, multi-layered offshore structure - raising suspicions over the purpose and legitimacy of the entire operation. Moreover, the money was parked in a fund, linked to associates of Vinod Adani, brother of Gautam Adani, who is chairman of Adani Group. The report also highlighted the SEBI chief's role in promoting Real Estate Investment Trusts (REITs) in India - an asset class that significantly benefitted Blackstone, where her husband is a senior adviser. Prior to his adviser role, Dhaval had not worked for a fund, in real estate or capital markets. The report comes 18 months after Hindenburg released its 'expose' on Adani -- questioning the group's debt levels and use of tax havens. At the time, the report sent the conglomerate's fortunes into a tailspin which forced the company to abandon a $2.5 billion share sale. WATCH | Wikipedia accuses Adani staff of Manipulation while Adani Group's market rout deepens further Opposition reacts The Opposition has latched onto the new report and said it was now evident why the market regulator had not investigated the Adani Group comprehensively. “SEBI's strange reluctance to investigate the Adani MegaScam has been long noted, not least by the Supreme Court's Expert Committee. That Committee had pointed out in its report that SEBI had in 2018 diluted and, in 2019, entirely deleted the reporting requirements relating to the ultimate beneficial (i.e. actual) ownership of foreign funds,” said senior Congress leader Jairam Ramesh. Here is our statement on the latest Hindenberg revelations Quis Custodiet Ipsos Custodies pic.twitter.com/D1wGN2uJop — Jairam Ramesh (@Jairam_Ramesh) August 10, 2024 × Meanwhile, Trinamool Congress (TMC) MP Mahua Moitra also took a dig over the allegations, saying that “in true Adani style, even the SEBI chairman is an investor in his group”. “Crony Capitalism at its finest,” she wrote on X. Also read | India's market regulator slams Hindenburg Research with show-cause notice Buch reacts On Sunday (Aug 11), Buch described the allegations against her as "baseless" and an attempt at "character assassination". "Our life and finances are an open book," said Buch in a joint statement with her husband. "It is unfortunate that Hindenburg Research, against whom SEBI has taken enforcement action and issued a show cause notice, has chosen to attempt character assassination in response to the same," they added. (With inputs from agencies)

Hindenburg report alleges market regulator chief, her spouse held stake in Adani Group's offshore funds

Paytm, India's digital payments pioneer, is again in the news owing to a regulatory crackdown. The company has notified its investors of an administrative warning from the country's market regulator, SEBI, over related-party transactions with Paytm Payments Bank in FY22 without auditor approval.

Paytm's troubles began with Paytm Payments Bank, when India's central bank barred it from further transactions due to regulatory non-adherence. Paytm's troubles have spiked since then, with falling stock prices and employee troubles weighing on the already troubled landscape. However, Paytm remains confident of its rebound, signalling a renewed sense of functioning and eyeing new avenues for growth.&nbsp;

On the recent SEBI's warnings, Paytm said and I quote, 'The warning pertains to the excess related party transactions (RPTs) entered into by Paytm and/or its subsidiaries with Paytm Payments Bank Limited (PPBL) during FY 2021-22, which were allegedly conducted without the due approval of either the audit committee or shareholders.'

'The company stated in its stock exchange filing that it is committed to upholding and demonstrating the highest compliance standards and will submit a detailed response to SEBI, addressing the regulator’s concerns on the matter,' the response added.

Paytm has assured stakeholders that this administrative warning will not impact its financial, operational, or other activities. However, the gravity of the situation is yet to be deciphered.

Paytm, India's digital payments pioneer, is again in the news owing to a regulatory crackdown. The company has notified its investors of an administrative warning from the country's market regulator, SEBI, over related-party transactions with Paytm Payments Bank in FY22 without auditor approval.

Paytm, India's digital payments pioneer, is again in the news owing to a regulatory crackdown. The company has notified its investors of an administrative warning from the country's market regulator, SEBI, over related-party transactions with Paytm Payments Bank in FY22 without auditor approval. Paytm's troubles began with Paytm Payments Bank, when India's central bank barred it from further transactions due to regulatory non-adherence. Paytm's troubles have spiked since then, with falling stock prices and employee troubles weighing on the already troubled landscape. However, Paytm remains confident of its rebound, signalling a renewed sense of functioning and eyeing new avenues for growth. On the recent SEBI's warnings, Paytm said and I quote, 'The warning pertains to the excess related party transactions (RPTs) entered into by Paytm and/or its subsidiaries with Paytm Payments Bank Limited (PPBL) during FY 2021-22, which were allegedly conducted without the due approval of either the audit committee or shareholders.' 'The company stated in its stock exchange filing that it is committed to upholding and demonstrating the highest compliance standards and will submit a detailed response to SEBI, addressing the regulator’s concerns on the matter,' the response added. Paytm has assured stakeholders that this administrative warning will not impact its financial, operational, or other activities. However, the gravity of the situation is yet to be deciphered.

Paytm assures adherence amid SEBI warning for related party transactions

Hindenburg&nbsp;Research&nbsp;refuted allegations on Monday (July 1) from India's securities regulator accusing the company of colluding with a US&nbsp;asset manager to use non-public information to set up its short bet against Adani Group last year.

In a statement posted to its website, US-based short-seller&nbsp;Hindenburg&nbsp;provided a copy of a 46-page show cause notice from the Securities and Exchange Board of India (SEBI) outlining the allegations that six entities including&nbsp;Hindenburg, asset manager Kingdon Capital Management and a Mauritus-based trading fund set up by Kotak Mahindra Bank violated certain rules under the Prevention of Fraud and Unfair Trade Practices regulation.

While SEBI has not made the notice public, two sources at the regulator with direct knowledge of the matter confirmed its authenticity.

The allegations, if proven, could result in monetary penalties and the payback of any illegal gains.

Hindenburg&nbsp;responded saying the notice is "nonsense" and an attempt to silence and intimidate by alleging that&nbsp;Hindenburg's report contained misrepresentations and inaccurate statements meant to mislead readers.

"In our view, SEBI has neglected its responsibility, seemingly doing more to protect those perpetrating fraud than to protect the investors being victimized by it,"&nbsp;Hindenburg&nbsp;said.

The disclosure of the SEBI notice adds a new twist in the saga that began last year when&nbsp;Hindenburg, founded by Nathan Anderson, alleged improper business dealings by Adani.

Adani, which refuted the allegations, suffered a loss of as much as $150 billion in combined market value after the report, but has since rebounded.

In the notice, SEBI alleges&nbsp;Hindenburg&nbsp;colluded with its client Kingdon Capital Management by providing a draft of its report on Adani Group before it was released publicly.

SEBI alleges that Mark Kingdon, the owner of Kingdon Capital, then set up a fund able to trade Indian equities known as K Indian Opportunities Fund. That fund created short positions in Adani group stocks between Jan. 10, 2023, and Jan. 20, 2023, five days ahead of the&nbsp;Hindenburg&nbsp;report being published, according to the SEBI documents.

In its statement,&nbsp;Hindenburg&nbsp;said a Mauritius registered unit of Kotak Mahindra Bank, an Indian firm, created and oversaw an offshore fund structure that was used by its "investor partner" to bet against Adani's shares.

The positions were squared off in February, leading to gains of $22.25 million, the SEBI documents said.

Hindenburg&nbsp;in its statement does not comment on its relationship with Kingdon.

An email to&nbsp;Hindenburg&nbsp;Research&nbsp;and Kingdon Capital was not immediately answered.

SEBI has not replied to a request for comment on&nbsp;Hindenburg's statement and to confirm the authenticity of the show cause order.

Kotak did not reply to a request for comment.

Hindenburg's response sheds some light on the mechanics of its Adani short trade, the details of which intrigued other investors because Indian securities rules make it hard for foreigners to bet against companies there.

Hindenburg&nbsp;said it made $4.1 million in gross revenue through "gains related to Adani shorts from that investor relationship" and just $31,000 through its short position of Adani's U.S. bonds. It did not name the investor.

"It was a tiny position," it said. "But, to date, our&nbsp;research&nbsp;on Adani is by far the work we are most proud of."

Hindenburg Research refuted allegations on Monday (July 1) from India's securities regulator accusing the company of colluding with a US asset manager to use non-public information to set up its short bet against Adani Group last year.

Hindenburg Research refuted allegations on Monday (July 1) from India's securities regulator accusing the company of colluding with a US asset manager to use non-public information to set up its short bet against Adani Group last year. In a statement posted to its website, US-based short-seller Hindenburg provided a copy of a 46-page show cause notice from the Securities and Exchange Board of India (SEBI) outlining the allegations that six entities including Hindenburg, asset manager Kingdon Capital Management and a Mauritus-based trading fund set up by Kotak Mahindra Bank violated certain rules under the Prevention of Fraud and Unfair Trade Practices regulation. While SEBI has not made the notice public, two sources at the regulator with direct knowledge of the matter confirmed its authenticity. The allegations, if proven, could result in monetary penalties and the payback of any illegal gains. Hindenburg responded saying the notice is "nonsense" and an attempt to silence and intimidate by alleging that Hindenburg's report contained misrepresentations and inaccurate statements meant to mislead readers. "In our view, SEBI has neglected its responsibility, seemingly doing more to protect those perpetrating fraud than to protect the investors being victimized by it," Hindenburg said. The disclosure of the SEBI notice adds a new twist in the saga that began last year when Hindenburg, founded by Nathan Anderson, alleged improper business dealings by Adani. Adani, which refuted the allegations, suffered a loss of as much as $150 billion in combined market value after the report, but has since rebounded. In the notice, SEBI alleges Hindenburg colluded with its client Kingdon Capital Management by providing a draft of its report on Adani Group before it was released publicly. SEBI alleges that Mark Kingdon, the owner of Kingdon Capital, then set up a fund able to trade Indian equities known as K Indian Opportunities Fund. That fund created short positions in Adani group stocks between Jan. 10, 2023, and Jan. 20, 2023, five days ahead of the Hindenburg report being published, according to the SEBI documents. In its statement, Hindenburg said a Mauritius registered unit of Kotak Mahindra Bank, an Indian firm, created and oversaw an offshore fund structure that was used by its "investor partner" to bet against Adani's shares. The positions were squared off in February, leading to gains of $22.25 million, the SEBI documents said. Hindenburg in its statement does not comment on its relationship with Kingdon. An email to Hindenburg Research and Kingdon Capital was not immediately answered. SEBI has not replied to a request for comment on Hindenburg's statement and to confirm the authenticity of the show cause order. Kotak did not reply to a request for comment. Hindenburg's response sheds some light on the mechanics of its Adani short trade, the details of which intrigued other investors because Indian securities rules make it hard for foreigners to bet against companies there. Hindenburg said it made $4.1 million in gross revenue through "gains related to Adani shorts from that investor relationship" and just $31,000 through its short position of Adani's U.S. bonds. It did not name the investor. "It was a tiny position," it said. "But, to date, our research on Adani is by far the work we are most proud of."

Hindenburg refutes allegations from Indian regulator on Adani short bet

The Securities and Exchange Board of India (SEBI) has slammed US-based short-seller Hindenburg Research with a show-cause notice over suspected violations of Indian regulations during the showdown with Adani last year.

Hindenburg published a report alleging Adani was 'engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.' This triggered a $150 billion rout in Adani stocks.&nbsp;

Hindenburg responded to SEBI in a <a href="https://hindenburgresearch.com/adani-update-sebi/">blog post</a>. The firm starts by saying, 'We have been aware that Indian securities regulator SEBI has been grappling with how they are going to respond to us, a U.S.-based research firm with no presence or operations in India, after we presented overwhelming evidence in January 2023 of why we believed Indian conglomerate Adani Group was operating “the largest con in corporate history. We had anticipated fierce opposition to our report before we ever published it, regardless of how comprehensive and truthful our body of evidence was.'

The post mentioned how Kotak Mahindra Bank created and oversaw an offshore fund structure that was used by its 'investor partner' to bet against the conglomerate. Interestingly, Hindenburg revealed making $4.1 million in gross revenue through 'gains related to Adani shorts from that investor relationship', and $31,000 from their short position on Adani US bonds. SEBI is yet to respond to the allegations.

The post also mentioned how 'Big-4' auditor Deloitte resigned from its role as statutory auditor for Adani Ports, citing undisclosed related-party transactions flagged in the report.

The Securities and Exchange Board of India (SEBI) has slammed US-based short-seller Hindenburg Research with a show-cause notice over suspected violations of Indian regulations during the showdown with Adani last year.

The Securities and Exchange Board of India (SEBI) has slammed US-based short-seller Hindenburg Research with a show-cause notice over suspected violations of Indian regulations during the showdown with Adani last year. Hindenburg published a report alleging Adani was 'engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades.' This triggered a $150 billion rout in Adani stocks. Hindenburg responded to SEBI in a blog post. The firm starts by saying, 'We have been aware that Indian securities regulator SEBI has been grappling with how they are going to respond to us, a U.S.-based research firm with no presence or operations in India, after we presented overwhelming evidence in January 2023 of why we believed Indian conglomerate Adani Group was operating “the largest con in corporate history. We had anticipated fierce opposition to our report before we ever published it, regardless of how comprehensive and truthful our body of evidence was.' The post mentioned how Kotak Mahindra Bank created and oversaw an offshore fund structure that was used by its 'investor partner' to bet against the conglomerate. Interestingly, Hindenburg revealed making $4.1 million in gross revenue through 'gains related to Adani shorts from that investor relationship', and $31,000 from their short position on Adani US bonds. SEBI is yet to respond to the allegations. The post also mentioned how 'Big-4' auditor Deloitte resigned from its role as statutory auditor for Adani Ports, citing undisclosed related-party transactions flagged in the report.

India's market regulator slams Hindenburg Research with show-cause notice

US-based short-seller Hindenburg Research wrote in a note on Monday that it has received a show cause notice from market regulator Securities and Exchange Board of India (SEBI) in the Adani Group case.

Indian regulator Sebi sends notice to Hindenburg

Quant Mutual Fund, one of India's largest asset managers overseeing $11 billion, is facing a regulatory probe by the Securities and Exchange Board of India (SEBI). SEBI is probing alleged irregularities in Quant's Management and investment practices, with search and seizure operations conducted at locations in Mumbai and Hyderabad, according to a Moneycontrol Report.

Quant Mutual Fund has reacted to the probe. The company stated, 'We will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis.' The fund house has grown exponentially in the recent year, from managing Rs 100 crore in 2019 to over Rs 93,000 crore currently. The fund has been a key beneficiary of the surging inflows into the stock market from local individual investors.

At the core of SEBI's investigation is the practice of 'front-running.' Front-running is the illegal practice of trading stock or any other financial asset by a broker with inside knowledge of a future transaction that could affect prices. In this, a fund manager executes orders from their own account before executing orders from their clients.

This is detrimental to ordinary investors, who are exploited for profits. Investors end up paying more for securities due to artificial price movements.

SEBI has taken similar actions in 2022 on Axis Mutual Fund for front-running. This resulted in 21 entities being barred from capital markets.

Quant Mutual Fund faces severe penalties and possible suspension if the claims hold ground. The probe is set to weigh on smaller stocks the fund holds, such as RBL Bank, Aasti Pharmalabs, and metal machinery maker Ador Welding.

Quant Mutual Fund, one of India's largest asset managers overseeing $11 billion, is facing a regulatory probe by the Securities and Exchange Board of India (SEBI).

Quant Mutual Fund, one of India's largest asset managers overseeing $11 billion, is facing a regulatory probe by the Securities and Exchange Board of India (SEBI). SEBI is probing alleged irregularities in Quant's Management and investment practices, with search and seizure operations conducted at locations in Mumbai and Hyderabad, according to a Moneycontrol Report. Quant Mutual Fund has reacted to the probe. The company stated, 'We will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis.' The fund house has grown exponentially in the recent year, from managing Rs 100 crore in 2019 to over Rs 93,000 crore currently. The fund has been a key beneficiary of the surging inflows into the stock market from local individual investors. At the core of SEBI's investigation is the practice of 'front-running.' Front-running is the illegal practice of trading stock or any other financial asset by a broker with inside knowledge of a future transaction that could affect prices. In this, a fund manager executes orders from their own account before executing orders from their clients. This is detrimental to ordinary investors, who are exploited for profits. Investors end up paying more for securities due to artificial price movements. SEBI has taken similar actions in 2022 on Axis Mutual Fund for front-running. This resulted in 21 entities being barred from capital markets. Quant Mutual Fund faces severe penalties and possible suspension if the claims hold ground. The probe is set to weigh on smaller stocks the fund holds, such as RBL Bank, Aasti Pharmalabs, and metal machinery maker Ador Welding.

India's Quant Mutual Fund faces regulatory enquiry

The Securities and Exchange Board of India (SEBI), India's market watchdog, has proposed that multiple agencies regulate cryptocurrency transactions, the clearest indication yet that some authorities in the country are willing to consider private virtual assets. This differs from the Reserve Bank of India (RBI), which continues to see private digital currencies as a macroeconomic threat, according to documents examined by Reuters.

The records, provided to a government group charged with developing policy for the finance ministry, indicate SEBI's previously undisclosed viewpoint. This contrasts with India's previously strict stance on cryptocurrencies, which began in 2018 with the RBI prohibiting lenders and financial intermediaries from engaging with crypto firms. The restriction was overturned by the Supreme Court in 2020. The administration proposed a bill to ban private cryptocurrencies in 2021, but it has yet to be introduced. India proposed a worldwide regulatory framework for such assets last year while holding the G20 presidency.

The RBI is firmly opposed to stablecoins, citing macroeconomic dangers. A source acquainted with the panel's talks, who asked to remain anonymous, stated that the panel plans to complete its findings by June. Stablecoins are cryptocurrencies that have a stable value because they are pegged to fiat currencies, minimising volatility.

In contrast, SEBI's recommendations propose that multiple regulators control bitcoin operations within their respective sectors, rather than establishing a single unified digital asset regulator. SEBI recommended that it monitor cryptocurrencies that are regarded securities as well as handle Initial Coin Offerings (ICOs). SEBI may also grant licenses for stock market-related cryptocurrency products, comparable to the role of the Securities and Exchange Commission in the United States.

SEBI suggested that the RBI regulate cryptocurrency assets backed by fiat currencies. The Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA) would oversee virtual assets relating to insurance and pensions, respectively. SEBI proposed that investor issues be addressed through India's Consumer Protection Act.

The RBI's proposal highlighted fiscal policy risks, claiming that cryptocurrencies could promote tax evasion and that decentralised peer-to-peer transactions rely on voluntary compliance, posing a threat to fiscal stability. The central bank also cautioned about a probable loss of "seigniorage" income, which is the profit from currency production.

According to a PwC analysis in December, 31 nations have policies in place that allow for bitcoin trading. Following the Supreme Court's reversal of the RBI's 2018 order, the central bank increased compliance with rigorous anti-money laundering and foreign exchange regulations, thereby keeping cryptocurrencies out of India's formal financial system. Despite these measures, the crypto trade thrived. In 2022, the government put a levy on cryptocurrency transactions and required local registration for exchanges that facilitate cryptocurrency trades in India.

(With inputs from Reuters)

The Securities and Exchange Board of India (SEBI), India's market watchdog, has proposed that multiple agencies regulate cryptocurrency transactions, the clearest indication yet that some authorities in the country are willing to consider private virtual assets.

The Securities and Exchange Board of India (SEBI), India's market watchdog, has proposed that multiple agencies regulate cryptocurrency transactions, the clearest indication yet that some authorities in the country are willing to consider private virtual assets. This differs from the Reserve Bank of India (RBI), which continues to see private digital currencies as a macroeconomic threat, according to documents examined by Reuters. The records, provided to a government group charged with developing policy for the finance ministry, indicate SEBI's previously undisclosed viewpoint. This contrasts with India's previously strict stance on cryptocurrencies, which began in 2018 with the RBI prohibiting lenders and financial intermediaries from engaging with crypto firms. The restriction was overturned by the Supreme Court in 2020. The administration proposed a bill to ban private cryptocurrencies in 2021, but it has yet to be introduced. India proposed a worldwide regulatory framework for such assets last year while holding the G20 presidency. The RBI is firmly opposed to stablecoins, citing macroeconomic dangers. A source acquainted with the panel's talks, who asked to remain anonymous, stated that the panel plans to complete its findings by June. Stablecoins are cryptocurrencies that have a stable value because they are pegged to fiat currencies, minimising volatility. In contrast, SEBI's recommendations propose that multiple regulators control bitcoin operations within their respective sectors, rather than establishing a single unified digital asset regulator. SEBI recommended that it monitor cryptocurrencies that are regarded securities as well as handle Initial Coin Offerings (ICOs). SEBI may also grant licenses for stock market-related cryptocurrency products, comparable to the role of the Securities and Exchange Commission in the United States. SEBI suggested that the RBI regulate cryptocurrency assets backed by fiat currencies. The Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund Regulatory and Development Authority (PFRDA) would oversee virtual assets relating to insurance and pensions, respectively. SEBI proposed that investor issues be addressed through India's Consumer Protection Act. The RBI's proposal highlighted fiscal policy risks, claiming that cryptocurrencies could promote tax evasion and that decentralised peer-to-peer transactions rely on voluntary compliance, posing a threat to fiscal stability. The central bank also cautioned about a probable loss of "seigniorage" income, which is the profit from currency production. According to a PwC analysis in December, 31 nations have policies in place that allow for bitcoin trading. Following the Supreme Court's reversal of the RBI's 2018 order, the central bank increased compliance with rigorous anti-money laundering and foreign exchange regulations, thereby keeping cryptocurrencies out of India's formal financial system. Despite these measures, the crypto trade thrived. In 2022, the government put a levy on cryptocurrency transactions and required local registration for exchanges that facilitate cryptocurrency trades in India. (With inputs from Reuters)

India's SEBI recommends multi-regulator approach for cryptocurrencies amid RBI opposition

The financial aftermath following the passing of the Chief of Sahara group Subrata Roy. SEBI, the Capital Market regulator, is grappling with undistributed funds exceeding 25,000 CR rupees. As per SEBI's latest annual report, the regulator issued $16 million in refunds over 11 years to investors of two Sahara group firms. However, the total amount deposited in specially open bank accounts for repayment has aged to more than 3 billion US dollars.

Sahara Group Chief Subrata Roy's passing and regulatory challenges

After the largest commodity derivatives exchange in India received approval from the Securities and Exchange Board of India (SEBI) Technical Advisory Committee to launch a new web-based commodity derivatives platform (CDP), shares of Multi Commodity Exchange of India (MCX) surged 5% to reach a new 52-week high of Rs 2,139 in Monday's trade on the BSE.

India approves new web-based platform

India’s capital markets regulator has submitted a status report to the Supreme Court detailing its probe into the allegations made against the Adani group, a copy of which was made available to Bloomberg News by one of the petitioners, Vishal Tiwari.

India SEBI submits Adani probe status report in Supreme Court

The Securities and Exchange Board of India (SEBI) has filed a fresh status report before the Supreme Court apprising it that out of 24 investigations arising out of the Hindenburg report, 22 are final in nature and 2 are interim in nature. 
SEBI submitted that with respect to the interim investigation reports SEBI has sought information from external agencies and entities and upon receipt of such information will evaluate the same vis-a-vis the interim investigation report to determine further course of action, if any, in the matters.

SEBI submitted that it shall take appropriate action based on the outcome of the investigations in accordance with law in various aspects.

The investigation was carried out in compliance with the directions of the top court's order dated March 2, 2023, SEBI has investigated 24 matters.

Also Read | <a href="https://www.wionews.com/india-news/indias-chandrayaan-3-to-make-historic-attempt-at-moon-landing-today-628136">India's Chandrayaan-3 to make historic attempt at moon landing today</a>

SEBI has conducted its probe in the matter relating to the violation of rule 19A of the Securities Contracts (Regulation) Rules, 1957 (Minimum Public Shareholding) and alleged non-compliance with minimum public shareholding ("MPS") requirements specified in rule 19A of the Securities Contracts (Regulation) Rules, 1957 (SCRR). 
 
Scope of investigation (s):&nbsp;To ascertain alleged non-compliance with minimum public shareholding ("MPS") requirements specified in rule 19A of the Securities Contracts (Regulation) Rules, 1957 (SCRR).

Also Read | <a href="https://www.wionews.com/india-news/chandrayaan-3-soft-landing-will-offer-basic-tech-for-landing-missions-to-other-planets-628071">Chandrayaan-3 soft-landing will offer basic tech for landing missions to other planets</a>

Apart from that, SEBI has examined possible violation of SEBI (Foreign Portfolio Investors) Regulations, 2014 ("FPI Regulations, 2014") and SEBI (Foreign Portfolio Investors) Regulations, 2019 ("FPI Regulations, 2019"), SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011("SAST Regulations"), SEBI (Prohibition of Insider Trading) Regulations, 2015 (Insider Trading Regulations") and examination of all the trades in Adani Group of companies pre and post-release of Hindenburg Report.

Earlier Securities and Exchange Board of India (SEBI) filed an application before the Supreme Court seeking 15 more days to conclude the investigation and submit the status report into its probe into the Hindenburg report.

Watch | Decoding Chandrayaan-3 landing: 'If problem arises, landing could be delayed'

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In the mid of May, the top court gave three months more time to the Securities and Exchange Board of India (SEBI) to conduct a probe into the Hindenburg report SEBI was granted time till 14 August 2023 to conduct the probe.

On March 2, the apex court directed the capital market regulator SEBI to investigate any violations of securities law by the Adani Group in the wake of the Hindenburg report, which led to a massive wipeout of more than USD140 billion of the Adani Group's market value.

Supreme Court, on March 2, set up an expert committee on the issue arising from the Hindenburg Research report on Adani Group companies. The committee will consist of six members, headed by former apex court judge Justice AM Sapre.

The top court had then asked SEBI to file a status report within two months.

The apex court was then hearing petitions pertaining to the Hindenburg report, including the constitution of a committee relating to regulatory mechanisms to protect investors' interests.

The January 24 Hindenburg report alleged stock manipulation and fraud by the conglomerate.

The Adani Group has attacked Hindenburg as "an unethical short seller", stating that the report by the New York-based entity was "nothing but a lie". A short-seller in the securities market books gains from the subsequent reduction in the prices of shares.&nbsp;

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The Securities and Exchange Board of India (SEBI) has filed a fresh status report before the Supreme Court apprising it that out of 24 investigations arising out of the Hindenburg report, 22 are final in nature and 2 are interim in nature.

The Securities and Exchange Board of India (SEBI) has filed a fresh status report before the Supreme Court apprising it that out of 24 investigations arising out of the Hindenburg report, 22 are final in nature and 2 are interim in nature. SEBI submitted that with respect to the interim investigation reports SEBI has sought information from external agencies and entities and upon receipt of such information will evaluate the same vis-a-vis the interim investigation report to determine further course of action, if any, in the matters. SEBI submitted that it shall take appropriate action based on the outcome of the investigations in accordance with law in various aspects. The investigation was carried out in compliance with the directions of the top court's order dated March 2, 2023, SEBI has investigated 24 matters. Also Read | India's Chandrayaan-3 to make historic attempt at moon landing today SEBI has conducted its probe in the matter relating to the violation of rule 19A of the Securities Contracts (Regulation) Rules, 1957 (Minimum Public Shareholding) and alleged non-compliance with minimum public shareholding ("MPS") requirements specified in rule 19A of the Securities Contracts (Regulation) Rules, 1957 (SCRR). Scope of investigation (s): To ascertain alleged non-compliance with minimum public shareholding ("MPS") requirements specified in rule 19A of the Securities Contracts (Regulation) Rules, 1957 (SCRR). Also Read | Chandrayaan-3 soft-landing will offer basic tech for landing missions to other planets Apart from that, SEBI has examined possible violation of SEBI (Foreign Portfolio Investors) Regulations, 2014 ("FPI Regulations, 2014") and SEBI (Foreign Portfolio Investors) Regulations, 2019 ("FPI Regulations, 2019"), SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011("SAST Regulations"), SEBI (Prohibition of Insider Trading) Regulations, 2015 (Insider Trading Regulations") and examination of all the trades in Adani Group of companies pre and post-release of Hindenburg Report. Earlier Securities and Exchange Board of India (SEBI) filed an application before the Supreme Court seeking 15 more days to conclude the investigation and submit the status report into its probe into the Hindenburg report. Watch | Decoding Chandrayaan-3 landing: 'If problem arises, landing could be delayed' × In the mid of May, the top court gave three months more time to the Securities and Exchange Board of India (SEBI) to conduct a probe into the Hindenburg report SEBI was granted time till 14 August 2023 to conduct the probe. On March 2, the apex court directed the capital market regulator SEBI to investigate any violations of securities law by the Adani Group in the wake of the Hindenburg report, which led to a massive wipeout of more than USD140 billion of the Adani Group's market value. Supreme Court, on March 2, set up an expert committee on the issue arising from the Hindenburg Research report on Adani Group companies. The committee will consist of six members, headed by former apex court judge Justice AM Sapre. The top court had then asked SEBI to file a status report within two months. The apex court was then hearing petitions pertaining to the Hindenburg report, including the constitution of a committee relating to regulatory mechanisms to protect investors' interests. The January 24 Hindenburg report alleged stock manipulation and fraud by the conglomerate. The Adani Group has attacked Hindenburg as "an unethical short seller", stating that the report by the New York-based entity was "nothing but a lie". A short-seller in the securities market books gains from the subsequent reduction in the prices of shares. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

Adani-Hindenburg issue: 22 investigations are final in nature, 2 are interim, SEBI files fresh status report

The Securities Exchange Bureau of India (Sebi) on Wednesday announced that the Initial Public Offering (IPO) listing timeline will be&nbsp;reduced to T+3 days from T+6 days. The new rules, which will come into&nbsp;effect in December this year, will allow&nbsp;IPOs to be listed three days after the issue closing date, The Economic Times reported.

“Consequent to extensive consultation with the market participants and considering the public comments received pursuant to the consultation paper on the aforesaid subject matter, it has been decided to reduce the time taken for the listing of specified securities after the closure of the public issue to three working days (T+3 days) as against the present requirement of six working days (T+6 days); ‘T’ being issue closing date,” The Economic Times quoted Sebi as saying.

The offer documents for public issues must properly disclose the T+3 schedule for listing, the report&nbsp;stated.

For public issues opening on or after September 1, 2023, the new guidelines will be voluntary, and they will be required for issues starting on or after December 1, 2023.

The market regulator said that stakeholders will gain from the shortened listing schedule since issuers and allottees will receive their funds and securities earlier, the report noted.&nbsp;

Additionally, the action guarantees that subscribers who were not given shares would immediately refunds. All stakeholders’ resources, including those of stock exchanges, banks, depositories, and brokers, will be used for a shorter period of time throughout the public offering process.

Companies must complete allocations under the new rules by 6 p.m. on T+1 day. On the T+2 day, funds will be returned to unsuccessful applicants.

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The Securities Exchange Bureau of India (Sebi) on Wednesday announced that the Initial Public Offering (IPO) listing timeline will be reduced to T+3 days from T+6 days.

The Securities Exchange Bureau of India (Sebi) on Wednesday announced that the Initial Public Offering (IPO) listing timeline will be reduced to T+3 days from T+6 days. The new rules, which will come into effect in December this year, will allow IPOs to be listed three days after the issue closing date, The Economic Times reported. “Consequent to extensive consultation with the market participants and considering the public comments received pursuant to the consultation paper on the aforesaid subject matter, it has been decided to reduce the time taken for the listing of specified securities after the closure of the public issue to three working days (T+3 days) as against the present requirement of six working days (T+6 days); ‘T’ being issue closing date,” The Economic Times quoted Sebi as saying. The offer documents for public issues must properly disclose the T+3 schedule for listing, the report stated. For public issues opening on or after September 1, 2023, the new guidelines will be voluntary, and they will be required for issues starting on or after December 1, 2023. The market regulator said that stakeholders will gain from the shortened listing schedule since issuers and allottees will receive their funds and securities earlier, the report noted. Additionally, the action guarantees that subscribers who were not given shares would immediately refunds. All stakeholders’ resources, including those of stock exchanges, banks, depositories, and brokers, will be used for a shorter period of time throughout the public offering process. Companies must complete allocations under the new rules by 6 p.m. on T+1 day. On the T+2 day, funds will be returned to unsuccessful applicants. WATCH WION LIVE HERE

IPO rules changed, listing time brought down further: Sebi 

The National Stock Exchange (NSE) in consultation with its broker members is considering a gradual extension of the trade timings, which is currently set at six hours and 15 minutes of the regular market, Mint reported quoting a top official of India’s largest stock market.

"We have already started the consultation with broker members on how to increase trade timings at least in a more convenient way for office-goers in the evening," Mint quoted&nbsp;Ashishkumar Chauhan, Managing Director and Chief Executive Officer of the NSE,&nbsp;as saying.&nbsp;

The report added that the SEBI, India's capital markets regulator, must accept the idea before it can be expanded to include derivatives transactions.

There is currently a pre-open session from 9am to 9:15am, followed by the normal trade timing period for stocks on NSE and BSE from 9:15am to 3:30pm.&nbsp;

The trading hours for commodity derivatives on the exchanges are 9 am to 11:30 pm and 11:55 pm (in winters), as many commodities are mirror contracts of those traded on the US CME bourse.&nbsp;

The trading hours for currency derivatives on the exchanges are 9 am to 5 pm.

But an increase in trade timings would mean an additional cost burden on small brokers, reports said.&nbsp;

Derivatives markets - key focus of time change

According to the report in Mint, In order to boost interest in its derivatives business, the Bombay Stock Exchange switched the expiration day of its Sensex and Bankex derivatives contracts from Thursday to Friday in mid-May.&nbsp;

The modification was made in order to avoid competing with its larger rival, NSE, whose weekly and monthly derivatives contracts for the Nifty and Bank Nifty expire on Thursday.&nbsp;

But soon after BSE’s action, NSE declared that it would keep Thursday for Nifty expiration while moving its weekly and monthly Bank Nifty expiration to Friday. This was seen as an attempt to restrict competition.

In late June, NSE changed its decision following negotiations between the two parties. The Bank Nifty expiry has now been requested to be moved to Wednesday. This gave rise to market rumors that SEBI was pressuring NSE to reverse its decision to avoid concentration risk.

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The National Stock Exchange (NSE) in consultation with its broker members is considering a gradual extension of the trade timings, which is currently set at six hours and 15 minutes of the regular market, Mint reported quoting a top official of India’s largest stock market.

The National Stock Exchange (NSE) in consultation with its broker members is considering a gradual extension of the trade timings, which is currently set at six hours and 15 minutes of the regular market, Mint reported quoting a top official of India’s largest stock market. "We have already started the consultation with broker members on how to increase trade timings at least in a more convenient way for office-goers in the evening," Mint quoted Ashishkumar Chauhan, Managing Director and Chief Executive Officer of the NSE, as saying. The report added that the SEBI, India's capital markets regulator, must accept the idea before it can be expanded to include derivatives transactions. There is currently a pre-open session from 9am to 9:15am, followed by the normal trade timing period for stocks on NSE and BSE from 9:15am to 3:30pm. The trading hours for commodity derivatives on the exchanges are 9 am to 11:30 pm and 11:55 pm (in winters), as many commodities are mirror contracts of those traded on the US CME bourse. The trading hours for currency derivatives on the exchanges are 9 am to 5 pm. But an increase in trade timings would mean an additional cost burden on small brokers, reports said. Derivatives markets - key focus of time change According to the report in Mint, In order to boost interest in its derivatives business, the Bombay Stock Exchange switched the expiration day of its Sensex and Bankex derivatives contracts from Thursday to Friday in mid-May. The modification was made in order to avoid competing with its larger rival, NSE, whose weekly and monthly derivatives contracts for the Nifty and Bank Nifty expire on Thursday. But soon after BSE’s action, NSE declared that it would keep Thursday for Nifty expiration while moving its weekly and monthly Bank Nifty expiration to Friday. This was seen as an attempt to restrict competition. In late June, NSE changed its decision following negotiations between the two parties. The Bank Nifty expiry has now been requested to be moved to Wednesday. This gave rise to market rumors that SEBI was pressuring NSE to reverse its decision to avoid concentration risk. WATCH WION LIVE HERE

NSE considers gradual extension of trade timings: Report 

India's securities regulator SEBI has said that there will soon be a mechanism to facilitate real-time settlement of transactions in India’s stock exchanges. This would address the lag that comes between trade and settlement involving the transfer of funds and securities on the same date. This announcement made by the SEBI chairperson Madhabi Puri Buch comes months after the regulator cut the settlement cycle from trade-plus-two (T+2) to T+1.

The settlement process is presently delayed by a day, which means the settlement date and the trade date are different. Trade settlements are complete when the seller receives the money and the securities bought are delivered to the buyer.

The ‘T+1’ cycle was introduced in January this year. This indicates that settlements can be complete within 24 hours of the actual transaction instead of the earlier 48 hours after the transaction. This revised cycle intends to improve operational efficiency, speedy fund remittances, share delivery and an overall simplification of transactions for stock market participants. After China, India became the second country to implement the T+1 settlement cycle for top listed securities.

SEBI is developing a method such that trade settlements in the securities market can be made on the same day. Such settlements (T+0) are to be made possible via Unified Payments Interface (UPI), online depositaries and technology stack.

“Certainly, one of the things that we think is not very far off is the instantaneous settlement on the stock exchanges. We are currently working on that. We are also engaged with the ecosystem. We believe that in future we will have a mechanism which will facilitate instantaneous settlement of transactions on stock exchanges,” media reports quoted Buch as saying.

Currently, if an investor sells shares under the T+1 settlement cycle, the money gets credited to their account the next day. In comparison, investors will receive immediate payment under the T+0 settlement cycle, while buyers will receive the shares in their demat account on the same day.

The SEBI chairperson further said that full migration to the T+0 settlement cycle would take time. She added that if the Application Supported by Blocked Amount (ASBA) framework, which aims to bring transparency and safeguard investor’s money held by stock brokers, succeeds then the next action would be “instantaneous settlement”.

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India's securities regulator SEBI has said that there will soon be a mechanism to facilitate real-time settlement of transactions in India’s stock exchanges. This would address the lag that comes between trade and settlement involving the transfer of funds and securities on the same date.

India's securities regulator SEBI has said that there will soon be a mechanism to facilitate real-time settlement of transactions in India’s stock exchanges. This would address the lag that comes between trade and settlement involving the transfer of funds and securities on the same date. This announcement made by the SEBI chairperson Madhabi Puri Buch comes months after the regulator cut the settlement cycle from trade-plus-two (T+2) to T+1. The settlement process is presently delayed by a day, which means the settlement date and the trade date are different. Trade settlements are complete when the seller receives the money and the securities bought are delivered to the buyer. The ‘T+1’ cycle was introduced in January this year. This indicates that settlements can be complete within 24 hours of the actual transaction instead of the earlier 48 hours after the transaction. This revised cycle intends to improve operational efficiency, speedy fund remittances, share delivery and an overall simplification of transactions for stock market participants. After China, India became the second country to implement the T+1 settlement cycle for top listed securities. SEBI is developing a method such that trade settlements in the securities market can be made on the same day. Such settlements (T+0) are to be made possible via Unified Payments Interface (UPI), online depositaries and technology stack. “Certainly, one of the things that we think is not very far off is the instantaneous settlement on the stock exchanges. We are currently working on that. We are also engaged with the ecosystem. We believe that in future we will have a mechanism which will facilitate instantaneous settlement of transactions on stock exchanges,” media reports quoted Buch as saying. Currently, if an investor sells shares under the T+1 settlement cycle, the money gets credited to their account the next day. In comparison, investors will receive immediate payment under the T+0 settlement cycle, while buyers will receive the shares in their demat account on the same day. The SEBI chairperson further said that full migration to the T+0 settlement cycle would take time. She added that if the Application Supported by Blocked Amount (ASBA) framework, which aims to bring transparency and safeguard investor’s money held by stock brokers, succeeds then the next action would be “instantaneous settlement”. WATCH WION LIVE HERE

Mechanism for immediate settlement of trades in progress: SEBI chief

A day after India's market regulator barred Zee promoter Subhash Chandra and CEO Punit Goenka from holding key board positions, Zee group promoters moved to the Securities Appellate Tribunal, the SAT. Earlier in the day Zee Entertainment's board said that it was reviewing the order for the next course of action. The Securities and Exchange Board of India or the SEBI has directed Zee Entertainment Enterprises Limited to place the interim order before its board within the next seven days while Chandra and Goenka have 21 days to respond to the market watchdog's allegations.

Zee promoters move appellate tribunal

The Securities and Exchange Board of India (SEBI) has unveiled an ambitious proposal to cut the time required to list shares on the country's stock exchanges to bolster India's stock market and facilitate faster access to capital. According to a consultation paper released on SEBI's website cited by Reuters, the market regulator aims to reduce the listing timeline from the closure of initial public offerings (IPOs) to just three days. The proposed change has been hailed as a significant stride toward enhancing the ease of doing business and benefiting both issuers and investors.

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SEBI emphasized the potential advantages of the proposed timeline reduction for listing and trading shares. In its consultation paper, the regulator stated that issuers would enjoy swifter access to the capital they raised, fostering a more efficient business environment. Simultaneously, investors would have the opportunity for early credit and greater liquidity in their investments. This move is expected to inject dynamism into the market, attracting more participation and stimulating economic growth.

&nbsp;

The proposed changes have elicited keen interest and stakeholder feedback, with SEBI inviting public comments on the matter until June 3. Market participants, industry experts, and investors have been encouraged to provide their insights and opinions on the potential implications of the proposed reduction in listing time.

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SEBI: Quick IPOs and Restricting Extreme Price Movement

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SEBI's endeavor to streamline the IPO process and boost market efficiency comes on the heels of another significant development. The market regulator also proposed measures to curb extreme price movements in shares actively traded through futures and options. The proposal, outlined in the consultation paper, includes extended trading suspensions and stricter restrictions on price fluctuations.

&nbsp;

Under the new measures, if a share in the futures and options segment experiences a daily rise or fall of 10 percent, trading would be suspended for an hour—a significant increase from the current 15-minute suspension period. Additionally, the share would be allowed to move only an additional 2 percent, down from the current 5 percent. These safeguards are designed to address concerns raised by recent market events, such as the precipitous decline in shares of Gautam Adani's group companies earlier this year. Following allegations of governance issues raised by U.S.-based short-seller Hindenburg Research, the group collectively suffered a staggering loss of over $100 billion in market value.

&nbsp;

SEBI stressed the importance of such safeguards in maintaining market stability, managing risks, and safeguarding investor interests. The proposed measures seek to strike a balance between facilitating efficient trading and preventing excessive volatility that may compromise the market's integrity.

&nbsp;

Inputs From Reuters)

The Securities and Exchange Board of India (SEBI) has unveiled an ambitious proposal to cut the time required to list shares on the country's stock exchanges to bolster India's stock market and facilitate faster access to capital.

The Securities and Exchange Board of India (SEBI) has unveiled an ambitious proposal to cut the time required to list shares on the country's stock exchanges to bolster India's stock market and facilitate faster access to capital. According to a consultation paper released on SEBI's website cited by Reuters, the market regulator aims to reduce the listing timeline from the closure of initial public offerings (IPOs) to just three days. The proposed change has been hailed as a significant stride toward enhancing the ease of doing business and benefiting both issuers and investors. SEBI emphasized the potential advantages of the proposed timeline reduction for listing and trading shares. In its consultation paper, the regulator stated that issuers would enjoy swifter access to the capital they raised, fostering a more efficient business environment. Simultaneously, investors would have the opportunity for early credit and greater liquidity in their investments. This move is expected to inject dynamism into the market, attracting more participation and stimulating economic growth. The proposed changes have elicited keen interest and stakeholder feedback, with SEBI inviting public comments on the matter until June 3. Market participants, industry experts, and investors have been encouraged to provide their insights and opinions on the potential implications of the proposed reduction in listing time. SEBI: Quick IPOs and Restricting Extreme Price Movement SEBI's endeavor to streamline the IPO process and boost market efficiency comes on the heels of another significant development. The market regulator also proposed measures to curb extreme price movements in shares actively traded through futures and options. The proposal, outlined in the consultation paper, includes extended trading suspensions and stricter restrictions on price fluctuations. Under the new measures, if a share in the futures and options segment experiences a daily rise or fall of 10 percent, trading would be suspended for an hour—a significant increase from the current 15-minute suspension period. Additionally, the share would be allowed to move only an additional 2 percent, down from the current 5 percent. These safeguards are designed to address concerns raised by recent market events, such as the precipitous decline in shares of Gautam Adani's group companies earlier this year. Following allegations of governance issues raised by U.S.-based short-seller Hindenburg Research, the group collectively suffered a staggering loss of over $100 billion in market value. SEBI stressed the importance of such safeguards in maintaining market stability, managing risks, and safeguarding investor interests. The proposed measures seek to strike a balance between facilitating efficient trading and preventing excessive volatility that may compromise the market's integrity. Inputs From Reuters)

SEBI's Turbo Boost: Quicker IPOs and Trading on the Horizon for Indian Market

India's market regulator, Sebi, has proposed halving the time required to list shares on stock exchanges from IPO closure to just three days. This move aims to enhance the ease of doing business and provide faster access to raised capital for issuers while offering early credit and liquidity for investors. In addition, Sebi has proposed measures to address extreme price movements, including longer trading suspensions and tighter restrictions on price fluctuations.

India’s stock market makeover

A Reuters report shows India's market regulator has requested an additional six months to finish its investigation into the Adani group. Billionaire Gautam Adani-led Indian empire is alleged of violations of stocks market regulations and regulatory disclosures.

India's Sebi seeks more time to complete Adani probe

After market regulator Securities and Exchange Board of India (SEBI) moved the Supreme Court seeking a six-month extension to complete the Adani Group probe, the company has released a statement.

After market regulator Securities and Exchange Board of India (SEBI) moved the Supreme Court seeking a six-month extension to complete the Adani Group probe, the company has released a statement. The conglomerate said SEBI has not concluded any wrongdoing in its application to the country's top court. "It is pertinent to note that in the SEBI application filed before the Hon'ble Supreme Court, there are no conclusions of any alleged wrongdoing," Adani Group said in a statement. "The SEBI application only cites the allegations made in the short-seller's report, which are still under investigation," it added. The Gautan Adani-owned company said it welcomed the investigation which provided a fair opportunity to address all the issues. "We are fully compliant with all laws, rules and regulations and are confident that truth will prevail. We are fully cooperating with SEBI and will continue to provide all our support and cooperation." ALSO READ | Adani-Hindenburg: Market regulator SEBI seeks six-month extension to complete probe Notably, SEBI on Saturday requested an extension to complete the probe. It listed as many as eight possible violations that required more time to complete the probe. "Given the complexity of the matter, SEBI in the normal course would take at least 15 months for completion of the investigation of these transactions, but is making all reasonable endeavours to conclude the same within six months," SEBI said in the plea. On March 2, the apex court directed SEBI to complete its probe and submit a status report in two months. The regulator, however, informed it had submitted a detailed report and prima facie findings to the Expert Committee constituted by the court. WATCH | Wikipedia accuses Adani staff of Manipulation while Adani Group's market rout deepens further SC forms the committee In March, the bench led by the Chief Justice of India ordered SEBI to investigate whether the conglomerate failed to disclose transactions with related parties to the regulator and if it manipulated the stock prices. The conglomerate has been under the scanner ever since US short-seller Hindenburg Research raised questions about the group's debt levels and use of tax havens. ALSO READ | Adani-Hindenburg: Supreme Court constitutes expert panel, issues two-month deadline to SEBI In the brutal fallout of Hindenburg's report, investors dumped Adani shares while the company was forced to abandon a $2.5 billion share sale. The group, meanwhile, has denied the allegations and has rubbished subsequent exposé reports claiming it had tapered down its growth projections and that it had not repaid loans against promoter's shares. (With inputs from agencies) WATCH WION LIVE HERE:

No allegation of wrongdoing in SEBI report, claims Adani Group after regulator seeks extension

Market regulator&nbsp;Securities and Exchange Board of India (SEBI) on Saturday moved the Supreme Court seeking a&nbsp;six-month extension to complete its investigation into allegations of stock price manipulation by the Adani Group. On March 2, the apex court directed SEBI to complete its probe and submit a status report in two months.&nbsp;

"Pass an order extending the time to conclude the investigation as directed by this Court by the common order dated March 2 by a period of 6 months or such other period as this court may deem fit and necessary in the facts and circumstances of the present case," read the plea filed by SEBI.&nbsp;

The regulator, however, informed it had submitted a detailed report and prima facie findings to the Expert Committee constituted by the court. It listed as many as eight possible violations that required more time to complete the probe.&nbsp;

"Given the complexity of the matter, SEBI in the normal course would take at least 15 months for completion of the investigation of these transactions, but is making all reasonable endeavours to conclude the same within six months," SEBI added in the plea.&nbsp;

<a href="https://www.wionews.com/india-news/adani-hindenburg-supreme-court-constitutes-expert-panel-issues-two-month-deadline-to-sebi-567516">ALSO READ |&nbsp;Adani-Hindenburg: Supreme Court constitutes expert panel, issues two-month deadline to SEBI</a>

<h2>SC forms the committee&nbsp;</h2>

In March, the bench led by the Chief Justice of India ordered&nbsp;SEBI to investigate whether the conglomerate failed to disclose transactions with related parties to the regulator and if it&nbsp;manipulated the&nbsp;stock prices.

Prior to constituting the committee, the court&nbsp;took a grim view of the rout in shares of the Adani Group and stated that Indian investors need to be protected against market volatility.&nbsp;

<a href="https://www.wionews.com/videos/wikipedia-accuses-adani-staff-of-manipulation-while-adani-groups-market-rout-deepens-further-564787">WATCH |&nbsp;Wikipedia accuses Adani staff of Manipulation while Adani Group's market rout deepens further</a>

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It was only after the apex court took a stern view that the central government agreed to the proposal of setting up the committee.&nbsp;The panel has the likes of OP Bhat (former Chairman of SBI), retired Justice JP Devdat, KV Kamath, Nandan Nilakeni and Somasekharan Sundaresan who will now study SEBI's preliminary report.&nbsp;

<a href="https://www.wionews.com/india-news/adani-hindenburg-indian-government-says-yes-to-supreme-court-panel-to-protect-investors-561694">ALSO READ |&nbsp;Adani-Hindenburg: To protect investors, Indian govt. says yes to Supreme Court panel probe</a>

The Gautam Adani-owned conglomerate has been under the scanner ever since US short-seller Hindenburg Research raised questions about the group's debt levels and use of tax havens.

In the brutal fallout of Hindenburg's report, investors dumped Adani shares while the company was forced to abandon a $2.5 billion share sale. The group, meanwhile, has denied the allegations and has rubbished subsequent exposé&nbsp;reports claiming it had tapered down its growth projections and that it had not repaid loans against promoter's shares.&nbsp;

(With inputs from agencies)

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Market regulator Securities and Exchange Board of India (SEBI) on Saturday moved the Supreme Court seeking a six-month extension to complete its investigation into allegations of stock price manipulation by the Adani Group.

Market regulator Securities and Exchange Board of India (SEBI) on Saturday moved the Supreme Court seeking a six-month extension to complete its investigation into allegations of stock price manipulation by the Adani Group. On March 2, the apex court directed SEBI to complete its probe and submit a status report in two months. "Pass an order extending the time to conclude the investigation as directed by this Court by the common order dated March 2 by a period of 6 months or such other period as this court may deem fit and necessary in the facts and circumstances of the present case," read the plea filed by SEBI. The regulator, however, informed it had submitted a detailed report and prima facie findings to the Expert Committee constituted by the court. It listed as many as eight possible violations that required more time to complete the probe. "Given the complexity of the matter, SEBI in the normal course would take at least 15 months for completion of the investigation of these transactions, but is making all reasonable endeavours to conclude the same within six months," SEBI added in the plea. ALSO READ | Adani-Hindenburg: Supreme Court constitutes expert panel, issues two-month deadline to SEBI SC forms the committee In March, the bench led by the Chief Justice of India ordered SEBI to investigate whether the conglomerate failed to disclose transactions with related parties to the regulator and if it manipulated the stock prices. Prior to constituting the committee, the court took a grim view of the rout in shares of the Adani Group and stated that Indian investors need to be protected against market volatility. WATCH | Wikipedia accuses Adani staff of Manipulation while Adani Group's market rout deepens further × It was only after the apex court took a stern view that the central government agreed to the proposal of setting up the committee. The panel has the likes of OP Bhat (former Chairman of SBI), retired Justice JP Devdat, KV Kamath, Nandan Nilakeni and Somasekharan Sundaresan who will now study SEBI's preliminary report. ALSO READ | Adani-Hindenburg: To protect investors, Indian govt. says yes to Supreme Court panel probe The Gautam Adani-owned conglomerate has been under the scanner ever since US short-seller Hindenburg Research raised questions about the group's debt levels and use of tax havens. In the brutal fallout of Hindenburg's report, investors dumped Adani shares while the company was forced to abandon a $2.5 billion share sale. The group, meanwhile, has denied the allegations and has rubbished subsequent exposé reports claiming it had tapered down its growth projections and that it had not repaid loans against promoter's shares. (With inputs from agencies) WATCH WION LIVE HERE:

Adani-Hindenburg: Market regulator SEBI seeks six-month extension to complete probe

India's market regulator, SEBI is investigating possible violation of transaction rules in the Adani Group's dealings with at least three offshore entities that have links to the brother of the conglomerate's founder.

SEBI investigates Adani's offshore deals for possible rule violations

Indian actor Arshad Warsi and 45 others have been barred by&nbsp;the Securities and Exchange Board of India (SEBI)&nbsp;from taking part in the securities market. The decision&nbsp;was made following an examination into claims that two firms, Sharpline Broadcast Ltd. and Sadhna Broadcast Ltd., through certain entities, had manipulated share prices by posting misleading videos on YouTube channels, as per reports.

The Indian stock market watchdog discovered that certain people uploaded videos containing false and misleading advice for investors to purchase shares of Sharpline Broadcast Ltd. and Sadhna Broadcast Ltd. in order to make extraordinary profits.

In addition to the ban, SEBI has confiscated illegal earnings totaling Rs 54 crore that the organisations made as a result of deceptive videos that were published on YouTube channels. The results of the inquiry are described in two distinct interim orders.

Once SEBI received complaints stating that some entities were manipulating prices and selling shares of Sadhna Broadcast Ltd. and Sharpline Broadcast Ltd., an inquiry was launched

Until further orders, SEBI has prohibited the 45 firms from "buying, selling, or dealing in securities either directly or indirectly, in any manner whatsoever." Furthermore, until the seized funds are put in the escrow account, the firms have been instructed not to part with any assets, including cash in bank accounts, without first obtaining SEBI's consent. 
 
(With inputs from agencies)

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Indian actor Arshad Warsi and 45 others have been barred by the Securities and Exchange Board of India (SEBI) from taking part in the securities market. The decision was made following an examination into claims that two firms, Sharpline Broadcast Ltd.

Indian actor Arshad Warsi and 45 others have been barred by the Securities and Exchange Board of India (SEBI) from taking part in the securities market. The decision was made following an examination into claims that two firms, Sharpline Broadcast Ltd. and Sadhna Broadcast Ltd., through certain entities, had manipulated share prices by posting misleading videos on YouTube channels, as per reports. The Indian stock market watchdog discovered that certain people uploaded videos containing false and misleading advice for investors to purchase shares of Sharpline Broadcast Ltd. and Sadhna Broadcast Ltd. in order to make extraordinary profits. In addition to the ban, SEBI has confiscated illegal earnings totaling Rs 54 crore that the organisations made as a result of deceptive videos that were published on YouTube channels. The results of the inquiry are described in two distinct interim orders. Once SEBI received complaints stating that some entities were manipulating prices and selling shares of Sadhna Broadcast Ltd. and Sharpline Broadcast Ltd., an inquiry was launched Until further orders, SEBI has prohibited the 45 firms from "buying, selling, or dealing in securities either directly or indirectly, in any manner whatsoever." Furthermore, until the seized funds are put in the escrow account, the firms have been instructed not to part with any assets, including cash in bank accounts, without first obtaining SEBI's consent. (With inputs from agencies) WATCH WION LIVE HERE:

Arshad Warsi, wife banned from India stock market by SEBI over YouTube fraud

Hours after he was banned by the Securities and Exchange Board of India (SEBI), Indian actor Arshad Warsi took to Twitter to deny charges levied on him and stated he and his wife, TV host Maria Goretti, had no knowledge of stocks. Earlier on Thursday, SEBI banned several entities, including Warsi, his wife Maria Goretti, YouTuber Manish Mishra and promoters of Sadhna Broadcast - Shreya Gupta, Gaurav Gupta, Saurabh Gupta, Pooja Aggarwal and Varun Media - from the securities market in a case related to uploading misleading videos on YouTube channels recommending investors to buy the company's shares. 
 
According to the interim order, Arshad Warsi made a profit of Rs 2.94 million and Maria Goretti earned a profit of Rs 3.75 million. 
 
Hours later, Arshad Warsi took to Twitter and requested everyone not to believe in hearsay. He also mentioned that he and his wife lack knowledge of the stock market. 
 
"Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda, and like many others, lost all our hard earned money," he tweeted.

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Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda, and like many other, lost all our hard earned money.
— Arshad Warsi (@ArshadWarsi) <a href="https://twitter.com/ArshadWarsi/status/1631242225496489984?ref_src=twsrc%5Etfw">March 2, 2023</a></blockquote>
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The investigation began after SEBI received complaints alleging that certain entities were engaging in price manipulation and offloading shares of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd.&nbsp;

Hours after he was banned by the Securities and Exchange Board of India (SEBI), Indian actor Arshad Warsi took to Twitter to deny charges levied on him and stated he and his wife, TV host Maria Goretti, had no knowledge of stocks.

Hours after he was banned by the Securities and Exchange Board of India (SEBI), Indian actor Arshad Warsi took to Twitter to deny charges levied on him and stated he and his wife, TV host Maria Goretti, had no knowledge of stocks. Earlier on Thursday, SEBI banned several entities, including Warsi, his wife Maria Goretti, YouTuber Manish Mishra and promoters of Sadhna Broadcast - Shreya Gupta, Gaurav Gupta, Saurabh Gupta, Pooja Aggarwal and Varun Media - from the securities market in a case related to uploading misleading videos on YouTube channels recommending investors to buy the company's shares. According to the interim order, Arshad Warsi made a profit of Rs 2.94 million and Maria Goretti earned a profit of Rs 3.75 million. Hours later, Arshad Warsi took to Twitter and requested everyone not to believe in hearsay. He also mentioned that he and his wife lack knowledge of the stock market. "Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda, and like many others, lost all our hard earned money," he tweeted. Please do not believe everything you read in the news. Maria and my knowledge about stocks is zero, took advice and invested in Sharda, and like many other, lost all our hard earned money. — Arshad Warsi (@ArshadWarsi) March 2, 2023 × The investigation began after SEBI received complaints alleging that certain entities were engaging in price manipulation and offloading shares of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd.

Arshad Warsi clarifies after SEBI ban, says his knowledge about stocks is zero

Firms backed by Indian billionaire Gautam Adani have now lost a staggering $107 billion in market cap in the wake of damaging claims by U.S. short-seller Hindenburg Research. Molly Gambhir explains.

Gravitas: Adani stock rout worsens after FPO withdrawal

Indian regulator SEBI has begin a full-scale investigation into the stock market rout of companies linked to Indian billionaire Gautam Adani. Earlier, Swiss global brokerage firm Credit Suisse said it would no longer accept Adani bonds as collateral for marginal loans. Molly Gambhir reports.

Gravitas: Adani shares plunge after credit suisse decision

India's capital market regulator SEBI has approved the government's proposal to convert dues of over $1.92 billion by telecom operator Vodafone Idea to equity.

World Business Watch: India's SEBI clears govt proposal to turn Vodafone Idea dues into equity

The country's capital market regulator approved the government's proposal to convert dues of over $1.92 billion by telecom operator Vodafone Idea into equity, two senior government officials said on Thursday.

Last year, the government had approved a rescue package for debt-strapped telecom companies that allowed them to convert interest on deferred adjusted gross revenue owed to the government into equity.

Among the country's three major telecom players, including Bharti Airtel and Reliance Industries' Jio, the government package was seen as a bailout for Vodafone Idea, which was on the verge of bankruptcy.

"SEBI (Securities and Exchange Board of India) has approved the government's proposal to come in as a financial investor. This has been communicated to the telecom ministry," one of the officials, who did not want to be named, told Reuters.

The government's stake in Vodafone Idea after the conversion could be more than 30 per cent, the official added, which would make it one of the largest shareholders in the company along with UK's Vodafone Group and Aditya Birla Group.

SEBI has also approved the government's request to classify its shareholding in Vodafone Idea as public float, both officials said.

The market regulator's guidelines state that only stakes up to 10 per cent can be classified as public shareholding.

The finance and telecom ministries, SEBI and Vodafone Idea did not immediately reply to request for comments.

The government will sell its stake in the telecom operator once it is turned around, one of the officials said.

The country's capital market regulator approved the government's proposal to convert dues of over $1.92 billion by telecom operator Vodafone Idea into equity, two senior government officials said on Thursday.

The country's capital market regulator approved the government's proposal to convert dues of over $1.92 billion by telecom operator Vodafone Idea into equity, two senior government officials said on Thursday. Last year, the government had approved a rescue package for debt-strapped telecom companies that allowed them to convert interest on deferred adjusted gross revenue owed to the government into equity. Among the country's three major telecom players, including Bharti Airtel and Reliance Industries' Jio, the government package was seen as a bailout for Vodafone Idea, which was on the verge of bankruptcy. "SEBI (Securities and Exchange Board of India) has approved the government's proposal to come in as a financial investor. This has been communicated to the telecom ministry," one of the officials, who did not want to be named, told Reuters. The government's stake in Vodafone Idea after the conversion could be more than 30 per cent, the official added, which would make it one of the largest shareholders in the company along with UK's Vodafone Group and Aditya Birla Group. SEBI has also approved the government's request to classify its shareholding in Vodafone Idea as public float, both officials said. The market regulator's guidelines state that only stakes up to 10 per cent can be classified as public shareholding. The finance and telecom ministries, SEBI and Vodafone Idea did not immediately reply to request for comments. The government will sell its stake in the telecom operator once it is turned around, one of the officials said.

Indian regulator greenlights govt proposal to convert Vodafone Idea's $1.92 billion dues into equity

Securities and Exchange Board of India (SEBI) has made a striking revelation. The one that nobody can&nbsp;ignore. &nbsp;

In a probe, the market regulator has found that the former head of one of India's largest stock exchanges used to share confidential information with a yogi to seek his advice on crucial decisions. &nbsp;

It is a case of "bizarre misconduct" and "glaring breach" of regulations. This comes ahead of the market's much-awaited public listing. &nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/new-ipo-in-market-indias-lic-files-draft-papers-to-sell-5-shares-to-raise-8-billion-453134" hreflang="en">New IPO in market: India's LIC files draft papers to sell 5% shares to raise $8 billion</a>

Former chief executive of National Stock Exchange (NSE) Chitra Ramkrishna shared crucial information including the market's business plans, financial projections and board agenda with a purported spiritual guru in the Himalayas, the SEBI said. &nbsp;

In an order, SEBI said, "The sharing of financial and business plans of NSE ... is a glaring, if not unimaginable, act that could shake the very foundations of the stock exchange." &nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/up-goa-assembly-polls-2022-polling-underway-in-two-indian-states-55-seats-in-up-40-in-goa-up-for-grabs-453098" hreflang="en">UP, Goa Assembly Polls 2022: Polling underway in two Indian states; 55 seats in UP, 40 in Goa up for grabs</a>

The guru was running the exchange, and Ramkrishna was "merely a puppet in his hands", the SEBI added. &nbsp;&nbsp;

The regulator has also imposed penalties on Ramkrishna, the market and other top former executives for the lapses.&nbsp;

In 2016, Ramkrishna quit NSE citing "personal reasons". &nbsp;&nbsp;

(With inputs from agencies)&nbsp;

Securities and Exchange Board of India (SEBI) has made a striking revelation. The one that nobody can ignore. In a probe, the market regulator has found that the former head of one of India's largest stock exchanges used to share confidential information with a yogi to seek his advice on crucial decisions.

Securities and Exchange Board of India (SEBI) has made a striking revelation. The one that nobody can ignore. In a probe, the market regulator has found that the former head of one of India's largest stock exchanges used to share confidential information with a yogi to seek his advice on crucial decisions. It is a case of "bizarre misconduct" and "glaring breach" of regulations. This comes ahead of the market's much-awaited public listing. Also Read: New IPO in market: India's LIC files draft papers to sell 5% shares to raise $8 billion Former chief executive of National Stock Exchange (NSE) Chitra Ramkrishna shared crucial information including the market's business plans, financial projections and board agenda with a purported spiritual guru in the Himalayas, the SEBI said. In an order, SEBI said, "The sharing of financial and business plans of NSE ... is a glaring, if not unimaginable, act that could shake the very foundations of the stock exchange." Also Read: UP, Goa Assembly Polls 2022: Polling underway in two Indian states; 55 seats in UP, 40 in Goa up for grabs The guru was running the exchange, and Ramkrishna was "merely a puppet in his hands", the SEBI added. The regulator has also imposed penalties on Ramkrishna, the market and other top former executives for the lapses. In 2016, Ramkrishna quit NSE citing "personal reasons". (With inputs from agencies)

Ex-chief of India's largest bourse NSE let a 'guru' to control her decisions, fined

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