SEBI seeks discretion in prosecutions - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Mahesh Chauhan was betting that the markets would fall after the Budget. He built his positions accordingly. All he could do was watch when the S&P BSE Sensex rose over 2,000 points instead. There was a technical glitch at his discount brokerage. He had no way to cut his losses. And he’s been fighting for compensation since. Somewhere along the way, he realised that two clauses on a form he signed absolve the broker and the stock exchange of any liability in the event of a technical glitch. This may also affect any investor who seeks compensation for a subsequent outage at the National Stock Exchange (NSE) on February 24. It may also absolve HDFC Securities and Zerodha Broking, which reportedly faced technical issues on Monday, March 1. Upstox (RKSV Securities) users had faced issues on February 1.
Sebi proposes stricter rules on independent directors timesnownews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesnownews.com Daily Mail and Mail on Sunday newspapers.
By Abhirup Roy MUMBAI (Reuters) - India s market regulator proposed on Monday tighter eligibility and appointment rules for independent directors of listed companies, a move seen aimed at protecting minority investors. The Securities and Exchange Board of India (SEBI) proposed that if listed companies in India wish to appoint or remove independent directors they should require the dual approval of shareholders and a majority of the company s minority investors. If either of the requirements are not met, a new person will not be appointed and existing independent directors can t be removed, SEBI said in its proposal, which is open for public consultation until April 1.