SEBI SHOULD BE SOLE SECURITIES REGULATOR: DHANUKA PANEL
Article Abstract:
The Justice DR Dhanuka Committee constituted by the Securities and Exchange Board of India (Sebi) to look into the deficiencies in the securities related acts has recommended that Sebi be the sole watchdog for the securities market. But before this, the committee has suggested consolidation of the Securities Contract (Regulation) Act, 1956, and the Sebi Act, 1992, into one composite act. It has also called for comprehensive changes in the draft Securities Bill, 1998, the draft Companies Bill and the Depository Act, 1996. Regarding the draft Securities Bill, the committee has suggested bringing the Unit Trust of India (UTI) under Sebi's purview as a mutual fund. In case of the draft Companies Bill, it wants Sebi to be the sole authority for framing regulations in relation to the subjects entrusted to it under the new legislation. Regarding the Depository Act, 1996, the committee has recommended barring of consumer fora in relation to disputes in dematerialised securities and exemption from stamp duty in respect of issue and transfer of such securities. (gsh)
Comment:
India: Justice DR Dhanuka Committee recommends that Securities & Exchange Board of India be sole watchdog of securities market
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
CRISIL REVAMPS EQUITY INDICES
Article Abstract:
The Credit Rating & Information Services of India Ltd (Crisil) has restructured its Crisil 500 Equity Index and Crisil Midcap 200 Index. Crisil has replaced some of the constituents with new companies. The changes will come into effect from June 22, 199. Nearly 16 companies have been deleted from the Crisil 500 Index, six new companies have been added and eight companies have been reclassified under the new industry classification. In the Crisil Midcap 200 Index, 26 companies have replaced as they no longer qualify as mid-cap companies. The Crisil 500 index will represent 72 percent of the total market capitalisation and over 98 percent of the total turnover of the Bombay Stock Exchange. (gsh)
Comment:
Restructures its Crisil 500 Equity Index and Crisil Midcap 200 Index
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
SEBI TO ALLOW CORPORATES TO SET UP CREDIT RATING AGENCIES
Article Abstract:
The Securities and Exchange Board of India has decided to permit corporates, banks and financial institutions to start credit rating agencies but they are to have an entry barrier of Rs100 crore continuous net worth for five years. The promoters will have to set up the agency in India and will have to hold a minimum 26 percent stake for at least three years. Companies that get rated by agencies promoted by them will have to get an independent rating from another agency. (khr)
Comment:
India: Securities & Exchange Board decides to permit corporates, banks & financial institutions to start credit rating agencies
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: NORMS RELAXED FOR PUBLIC OFFERS FROM INFRASTRUCTURE COS NORMS FOR SWEAT EQUITY FINALISED NORMS FOR EURO, ADR ISSUES RELAXED
- Abstracts: PLANTATION SECTOR: OVER-REGULATED, OVER-ADMINISTERED HARRISONS MALAYALAM TO ACQUIRE PLANTATION AREAS
- Abstracts: WIPRO LTD NET UP 87%, TURNOVER 15% WIPRO FINANCE REVAMPS BUSINESS OPERATIONS. WIPRO APPOINTS 3 VCS IN TOP MANAGEMENT RECAST
- Abstracts: HLL TO SPLIT BUSINESS LINES IN MAJOR REVAMP. GAIL GETS OKAY FOR DELHI GAS DISTRIBUTION JV WITH BPCL FIS GIVE OKAY TO THREE-WAY SPLIT OF RADICO KHAITAN
- Abstracts: BANGALORE DEVELOPMENT AUTHORITY: LOOK NOW, I'M CHANGING MODEL FLORICULTURE VILLAGE COMING UP NEAR BANGALORE HYDERBAD Vs BANGALORE