SEBI SET TO PUT IPOs ONLINE
Article Abstract:
Securities and Exchange Board of India (Sebi) has come out with a scheme, On-line Securities offer for IPOs. It has completed the modalities for public issues sales through electronic network of stock exchanges. The scheme is likely to remove delays and hold up of investor's money. It will also help reduce the issue process and listing will be speeded up. The scheme will be on the wide broker network and use electronic infrastructure of the stock exchanges. Sebi has consulted the National Stock Exchange before finalising the scheme. An expert group is giving finishing touches to the scheme. The issuer will offer a prospectus giving details of the issue and invite brokers to place orders on behalf of the investors for buying shares through their terminals. The broker will be buyer at fixed offer price and the issuer will be the seller. After the offer period, shares will be allotted after matching the buy and sell positions. (rk)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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HC RESTORES COMPENSATION POWERS TO SEBI IN HLL CASE
Article Abstract:
The Bombay High Court, in an interim order, has given the Securities and Exchange Board of India (Sebi) the powers to award compensation to the aggrieved party and prosecute the persons who indulged in insider trading. Sebi had filed a petition against the decision of the Appellate Authority (AA) in the case of Hindustan Lever Ltd (HLL). AA had barred Sebi from initiating prosecution against HLL or awarding compensation to the aggrieved party. It had exonerated HLL of the charges of insider trading on July 14, 1998. (rk)
Comment:
India: Bombay HC gives SEBI powers to award compensation to aggrieved party & prosecute persons who indulged in insider trading
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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