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: due date for vat payment :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: ACCOUNTING STANDARD :: empanelment :: VAT Audit :: cpt :: list of goods taxed at 4% :: form 3cd :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS
 
 
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 mulls tightening noose on share sale to institutions
December, 06th 2010

Market regulator Sebi is considering greater oversight over share sale in listed firms, especially small and mid-size companies, through large open market deals and QIP (Qualified Institutional Placement) route.

Besides tightening disclosure norms for such deals, the market watchdog is considering enhancing its oversight on developments preceding and following these transactions to keep a watch on share price manipulation attempts by promoters or other market intermediaries, a senior official said.

The move follows probes by the regulator into the recent cases of insider trading as also the initial findings from the ongoing investigation into the recent loan bribery scam, the official added.

It is suspected that some entities, which could include those related to the promoters or market intermediaries like brokers and investment banks, push up the share prices of some mid or small-size companies and create heavy volumes on those counters before approaching the unsuspecting institutional investors for a share sale deal.

Such deals are generally done through large-size open market transactions, known as bulk and block deals, or through QIP route where shares are sold to institutional investors at a price generally discovered through book-building process.

Sources said that Sebi might look into all the large-size transactions having taken place in the shares of small and mid-size companies ever since the recovery begun on the bourses in March-April this year.

The Sebi is already probing possible front-running and insider trading in shares of over two dozen companies, including some blue chips, by entities and persons involved in the case unearthed by CBI.

The initial findings, when corroborated with the charges made by the CBI, indicate towards a large-scale front-running deals or shares being purchased or sold in these companies on the basis of prior knowledge about investment decisions being made by large institutional investors.

These large institutional investors could be LIC, whose Secretary (Investments) figures among those arrested by CBI, as also those investors who participated in share or debt placements arranged by investment banking and financial services firm Money Matters, sources said.

The probe would encompass large dealings and any irregular spurt in volumes or prices of shares of all the companies where these institutional investors had bought or sold shares over the past two years, they said.

Given the sensitivity of the matter and the probe being in preliminary stages, the official declined to disclose the names of the companies, while adding that all the companies whose shares have been manipulated might not be themselves at fault.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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