The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 crore on former Yes Bank managing director (MD) and chief executive officer (CEO)
As per the SEBI notice, a total of 1,346 individual investors had invested approximately Rs 679 crore in the AT1 bonds, out of which 1,311 individual investors were existing customers of Yes Bank.
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 crore on former Yes Bank managing director (MD) and chief executive officer (CEO)
SAT stays SEBI’s ₹25 cr penalty order on YES Bank
May 24, 2021
Case relates to mis-selling of AT-1 Bonds
The Securities Appellate Tribunal (SAT) has granted an interim stay on a penalty of ₹25 crore imposed by market regulator SEBI on YES Bank and three of its executives in the AT-1 Bond matter.
SEBI in its order on April 12 had penalised YES Bank and its executives for allegedly not informing investors of the risk factors while facilitating the sale of AT-1 bonds.
Risk factors known: SAT
“We prima facie find that the risk factor was already existing on the website, and it was in the knowledge of everyone. Considering the aforesaid,
Nifty, Sensex may move in a narrow range – Monday closing report
Moneylife Digital Team
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We had mentioned in the previous week’s closing report that Nifty, Sensex may continue to rally. On Monday, the indices opened higher and ended with decent gains. On the NSE, there were 1,199 advances, 795 declines and 85 unchanged.
State Bank of India reported a standalone profit of Rs 6,450.7 crore for the January-March 2021 quarter, compared to a profit of Rs 3,580.81 crore in the corresponding period of the previous financial year (YoY).
JSW Steel reported consolidated net profit at Rs 4,198 crore compared to Rs 231 crore YoY. Sales grew 51% YoY to Rs 26,934 crore. The company has said it will spend over Rs 25,000 crore on projects in Odisha, Karnataka and Jammu & Kashmir.