Notice to SEBI, MCA and Enforcement Directorate in NSE co-location case : Madras HC

 The Madras High Court has admitted a Public Interest Litigation (PIL) filed by the Chennai Financial Markets and Accountability (CFMA) in the National Stock Exchange (NSE) co-location case and issued notices to the SEBI, the Ministry of Corporate Affairs (MCA), the CBI, Enforcement Directorate (ED) and the NSE. According to the PIL, SEBI has not […]

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SAT Stays SEBI Order Barring Prannoy Roy & Radhika Roy From Holding Directorial Or Managerial Positions In NDTV

In a temporary relief to Prannoy Roy and Radhika Roy, the Securities Appellate Tribunal has stayed the June 14 order issued by Securities and Exchange Board of India restraining them from holding manegerial or directorial posts in New Delhi Television Ltd (NDTV). Admitting the appeal filed by Roys and RPPR Ltd, the promoters of NDTV, […]

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SC takes note of deposit of Rs 710.22 cr by Sahara chief

The Supreme Court today noted that embattled Sahara chief Subrata Roy has deposited Rs 710.22 crore in the SEBI-Sahara account, but warned that its cheque of Rs 552.21 crore must be realised within the July 15 deadline. The apex court rejected Roy’s request to extend time beyond July 15 for realisation of this cheque. Roy […]

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SC asks Sahara chief to deposit Rs 600 cr for staying out of jail

The Supreme Court today asked Sahara Group chief Subrata Roy to deposit Rs 600 crore more by February 6 next year in the SEBI-Sahara refund account to remain out of jail and cautioned him that in case of failure, he would have to return to prison. A bench comprising Chief Justice T S Thakur and […]

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Participatory notes are regulated under the law: HC

Delhi High Court today said that Participatory Notes (P-Notes) are not illegal and were regulated under the law. The ruling by a bench of justices Badar Durrez Ahmed and Sanjeev Sachdeva came while dismissing a PIL, which had claimed that Finance Minister Arun Jaitley had wrongly made a statement that P-Notes were not illegal and […]

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SC gives Sahara 18 months to pay up Rs.36,000 crore

While approving the manner in which Sahara would furnish its bank guarantee, the Supreme Court on Friday directed that the group will have to pay the remaining liability it owes to the market regulator, Securities and Exchange Board of India (Sebi), within 18 months from the time its chief Subrata Roy is released. Accepting the […]

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SC refuses to release Subrata Roy on bail or parole

The Supreme Court today refused to release Sahara Chief Subrata Roy, who has been behind bars for nearly five months, on interim bail or parole but allowed selling of his luxury hotels in New York and London to raise money to deposit Rs 10,000 crore with SEBI as directed to get regular bail. The apex […]

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Andhra HC lifts stay on Ranbaxy, Sun Pharma merger

Shares of Sun Pharmaceutical Industries and Ranbaxy Laboratories are trading higher by up to 3% in early morning deals after the Andhra Pradesh High Court cleared the decks for the $4-billion deal to go through by lifting the stay. The Andhra Pradesh High Court on Saturday vacated a status quo order it had issued earlier […]

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Daiichi plea HC to vacate Sun-Ranbaxy merger stay

Daiichi Sankyo, owner of Ranbaxy Laboratories Limited, has filed a petition in Andhra Pradesh High Court requesting it to vacate the ‘status quo’ order it issued earlier on Sun Pharma-Ranbaxy merger process. The HC may take up hearing on the petition on May 15. Based on a petition filed by two individual investors, the court […]

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Supreme court to hear Sahara Group proposal

The Supreme Court will on Friday hear a proposal by the Sahara Group to pay SEBI a substantial amount as surety to return investors the Rs.19,000 crore it had collected through Optionally Fully Convertible Debentures. Senior counsel Rakesh Dwivedi, appearing for the Sahara Group, told the apex court bench headed by Justice K.S. Radhakrishnan that […]

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