Read more about Infosys to initiate internal investigation into insider trading case on Business Standard. Infosys on Tuesday said it will initiate an internal investigation into an insider trading matter after markets regulator Sebi barred two of its employees from the securities market in the case.
The Securities Appellate Tribunal (SAT) has granted an interim stay on markets regulator Sebi order that had slapped a penalty of Rs 25 crore on Yes Bank in a case of mis-selling AT-1 bonds. Apart from penalising Yes Bank, Sebi in its order in April, imposed a fine of Rs 1 crore on Vivek Kanwar, who was the head of the private wealth management team, and Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga. The two individuals were part of the private wealth management team at the time of the violation.
Sebi alleged misrepresentation by the bank and certain officials for not informing investors of the risk involved while selling the AT -1 (Additional Tier-1) bonds in the secondary market.
Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer s permission we will charge your card/ payment instrument each month automatically and renew your subscription.
In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
Morepen Laboratories announced that the Hon ble Securities Appellate Tribunal (SAT) by an order pronounced on 15 April 2021 (hosted on website of the SAT on 24 April 2021), quashed and set aside the Order dated 24 September 2019 passed by the Securities and Exchange Board of India (SEBI) whereby SEBI had restrained the company from buying, selling or otherwise dealing in securities and accessing the securities markets for one year from the date of the SEBI Order.
It may be mentioned that the SEBI order relates to a GDR issued made by the company way back in 2003.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Markets regulator Sebi on Wednesday prohibited Ashika Capital from accepting any new clients for three months for lapses in its role as a merchant banker in the IPO of Sudar Industries. The present matter emanates from an investigation carried out by Sebi into the IPO of Sudar Industries Ltd (SIL) for which Ashika Capital Limited was the Book Running Lead Manager (BRLM). Consequent to such investigation, lapses in Ashika Capital s role as the BRLM were found. In its order, Sebi said that the issuer company did not disclose the transactions of Addon Exports, A R Fabrics, ElimTraders, R J Traders and Shalom Fashion, which were proprietorship firms of employees of SIL and persons connected or related to key management personnel of SIL, in the Related Party Transactions.