SEBI seeks debate on the concept of ‘accredited investor’
Moneylife Digital Team
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The capital market regulator, Securities and Exchange Board of India, has floated a consultation paper to introduce the concept of ‘accredited investors’ in the Indian securities market and sought public comments on the same. The comments can be sent to the regulator latest by 18 March 2021. According to SEBI, the new regulatory framework is expected to help in designing more customised investment products, reduced compliance, better risk labeling (product classification) and increased transparency.
Accredited investors or qualified investors or professional investors, are considered to be informed investors on the assumption that their financial capacity (generally ascertained from income and/ or net worth) enables them to hire expert managers/ advisors as required. They already have an understanding of various financial products and the risks and returns associated with them and
Reliance Industries Ltd (RIL) says after its reorganisation to transfer its refining, marketing and petrochemicals (oil-to-chemicals) businesses to a wholly-owned subsidiary, Reliance O2C Ltd (O2C), there will be no change in its shareholding.
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A top corporate tribunal has rejected the plea of Jet Airways employees seeking a copy of the resolution plan of the successful consortium of Murari Lal Jalan and Kalrock Capital.
According to the National Company Law Tribunal (NCLT), it noted that the statutory mandate requires that the resolution plan can only be presented to the committee of creditors (CoC) before its approval and presented before the adjudication authority for its satisfaction in approving the same.
The code or the regulation there under do not contemplate presentation or supply of the resolution or a copy thereof to any other body or entity, said the order by a two-bench judge of the Mumbai bench of NCLT.