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RBI’s QE Offers Little Relief As Underwriters Rescue Bond Sale

Posted under Business, Regulatory, by Neha Sonker / 17 hours ago

Primary dealers rescued an Indian government debt auction for the seventh time this year, indicating weak appetite despite the central bank’s pledge to buy as much as 1 trillion rupees of sovereign notes this quarter. Underwriters bought 109.3 billion rupees ($1.5 billion) of the 110 billion rupees of new 2026 bonds on offer, the Reserve Bank of India said in a statement.

Read more at Bloomberg

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SEBI Asks 20 Entities To Disgorge Over Rs 3.3 Crore

Posted under Business, Regulatory, by Neha Sonker / 18 hours ago

Markets regulator SEBI directed 20 entities to disgorge a total amount of over Rs 3.3 crore for violation of market norms. The amount has to be paid jointly and severally by the entities, an order said. During the probe, SEBI found that certain entities -- Beejay Investment and Financial Consultants, Sudhir Jain and Eversight Tradecomm -- who were earlier barred from accessing the securities market engaged in trading.

Read more at Economic Times

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Shriram Properties Files Draft Papers With SEBI To Launch Rs 800 Cr IPO

Posted under Business, Regulatory, by Neha Sonker / 20 hours ago

Bengaluru-based Shriram Properties has filed a draft document with market regulator SEBI to raise to Rs 800 crore through an initial public offer. According to sources, Shriram Properties filed the draft red herring prospectus. In offer for sale, each of the selling shareholders will be entitled to their respective portion of the proceeds from the offer for sale in the proportion of the shares offered by them.

Read more at Financial Express

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Tata-Mistry Case: SC Verdict Puts Spotlight On Duties Of Nominee Directors

Posted under Business, Judgement, Legal, by Neha Sonker / 1 day ago

The Supreme Court’s recent judg­ment in the six-year-old boardroom and courtroom battle between the two principal stakeholders of the Tata group has put the sp­­o­t­light on the role and duties of no­minee directors of a charitable trust in a holding company. The apex court, in its judgment, dismissed the minority shareholders’ claims of “oppression and mismanagement” at Tata Sons, the holding company of the conglomerate.

Read more at Business Standard

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Amazon Moves SC, Challenges Lifting Of Stay On Future-RIL Deal By Delhi HC

Posted under Business, Legal, by Neha Sonker / 2 days ago

Amazon has moved the Supreme Court challenging the Delhi High Court's division bench order that had vacated a stay on Kishore Biyani-led Future Group, proceeding with its Rs 24,713 crore asset sale to Reliance Industries. Amazon, in the petition, sought a stay on the March 22 order of the division bench, terming it "illegal", "random", "inequitable and unfair".

Read more at Business Standard