HDFC Ltd Chairman Deepak Parekh Settles Matter With SEBI; Pays Rs 9 37 Lakh As Settlement Charges moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Mortgage lender HDFC Ltd s Chairman Deepak Parekh has settled with markets regulator Sebi a matter of non-compliance with an erstwhile listing agreement. Parekh has settled the matter by paying Rs 9.37 lakh towards settlement charges without admitting or denying the findings of fact and conclusions of law . The matter pertains to non-compliance with the erstwhile listing agreement by Parekh with respect to an Inter-Corporate Deposit (ICD) advanced by HDFC Ltd to Gliders Buildcon Realtors Pvt Ltd, a group company of Piramal Realty Pvt Ltd. According to an examination by Sebi, apart from the ICD, an additional loan facility of Rs 875 crore was approved to Gilders Buildcon in December 2014. Based on a request from Gliders Buildcon, the outstanding ICD was converted into a loan facility of Rs 750 crore without any additional disbursement.
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Future Retail CEO Kishore Biyani barred from securities market for insider trading
The Securities and Exchange Board of India (SEBI) has barred Future Retail CEO Kishore Biyani, among others, from the securities market for a period of one year for insider trading in the scrip of Future Retail (FRL). The other entities and individuals barred from the securities market are Future Corporate Resources Private Limited (FCRPL), Kishore Biyani s brother Anil Biyani, Rajesh Pathak and Rajkumar Pande.
An investigation found that some of the entities traded in shares of Future Retail on the basis of unpublished price sensitive information (UPSI) violating SEBI norms during the period between March 10 and April 20, 2017.
Indian regulator bars Kishore Biyani from securities market for insider trading
Kishore Biyani (Livemint)
February 4, 2021
India’s markets regulator on Wednesday barred Future Group founder Kishore Biyani and several related entities, including his brother Anil, from accessing the securities market in an insider trading case dating back to 2017.
Biyani, a pioneer of Indian retail, has also been barred from transacting in securities of Future Retail for two years. The regulator said it reached the decision after a probe into the 2017 case pertaining to the use of unpublished price-sensitive information to trade in Future Retail shares.
The decision comes even as Biyani’s sale of his businesses to Mukesh Ambani’s Reliance Retail is facing legal challenges from Amazon.com Inc.
The Securities and Exchange Board of India (Sebi) on Wednesday barred Future Group founder Kishore Biyani from the capital markets for a period of one year for alleged breach of insider trading regulations. The regulator directed Biyani and three other entities to disgorge more than Rs 20 crore made wrongfully by dealing in shares while in possession of unpublished price sensitive information (UPSI). The matter dates back to 2017, when company Biyani and other ‘insiders’ traded in shares of Future Retail during the period of UPSI, pertaining to a scheme of arrangement involving its home retail businesses. Sebi has also imposed a ban on Biyani and four other entities from dealing in shares of Future Retail for a period of two years.