Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: articles on VAT and GST in India :: empanelment :: cpt :: due date for vat payment :: VAT RATES :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: form 3cd :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« General »
 Simplified one page Income Tax Return Form: Changes to keep in mind before filing tax return for AY2017-18
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 GST coming July 1 despite calls for delay: Revenue Secretary Hasmukh Adhia
 Centre introduces provision of taxation on NPS in Income Tax Act
 Income Tax Department Clarifies On Cash Withdrawal From Banks, Post Offices
 The Goods And Services Tax (Compensation To States) Bill, 2017
  Goods and Service Tax (GST) and Real Estate Sector
 New Income Tax Rules On Home Loan Come Into Effect
 Here's how late filers can save on stress and taxes
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib ?Kalyan Yojana, 2016
 Companies should invest in upgradation of tax technology

Sebi unearths demat irregularities
October, 15th 2009

Even as the Securities and Exchange Board of Indias (Sebi) judicial proceedings on demat irregularities in Parsoli Corporation continues, it has cancelled the registration of its share transfer agent - Pinnacle's shares registry, reports Priyal Guliani.

It is a very crucial case. Judicial proceedings in Parsoli Corporation have been going on as you mentioned and essentially there has been demat irregularities in the shares of Parsoli Corporation where allegedly the genuine shareholders have been transferred to promoter entities or promoter groups and fronting entities.

According to Sebis investigation, 450 cases of these have been found. Pinnacle has been the share transfer agent of Parsoli.

Sebi's order is on Pinnacle and right now it has cancelled the registration of its share registry. It has asked Pinnacle to wind up its entire business by February 2010.

What Sebi says is that Pinnacle did not take the records of signature cards. Throughout this, Parsoli Corporation carried out the verification of signature cards and as a result anything which was regard to the demat request was based on the confirmation of Parsoli Corporation.

As a result it did not fulfil its fiduciary responsibility. Sebi says that Pinnacle is guilty of criminal gross negligence and also is guilty of delaying demat request and misleading demat request on all these grounds, so clearly a very important order here coming in from Sebi.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions