Tag: Sebi

Latest StoriesRegulatory

ED Alerts Supreme Court to IHFL’s Financial Transaction Issues

NEW DELHI: On Wednesday, the Enforcement Directorate (ED) highlighted significant irregularities in the financial dealings of Indiabulls Housing Finance Ltd, now referred to as Sammaan Capital Ltd. This comes as an NGO informed the Supreme Court that the Ministry of Corporate Affairs (MCA) overlooked numerous corporate governance violations by IHFL, disregarding adverse reports from the market regulator, SEBI. Despite strong objections raised by senior advocate Harish Salve, representing Indiabulls, a bench comprising Justices Surya Kant, Ujjal Bhuyan, and N K Singh directed a ‘responsible officer’ from MCA to present original documents related to IHFL in court on November 19. The…

Latest StoriesRegulatory

SC Requests MCA Records on Indiabulls Complaint Closures

NEW DELHI: The Supreme Court on Wednesday instructed the Ministry of Corporate Affairs to submit the original records related to the closures of irregularities identified by the Securities Exchange Board of India (SEBI) concerning Indiabulls Housing Finance Limited, now known as Sammaan Capital Limited. A bench comprised of Justices Surya Kant, Ujjal Bhuyan, and N Kotiswar Singh requested Additional Solicitor General SV Raju, representing central investigating agencies, to clarify how many cases have been closed. “We wish to understand the extent of your leniency in resolving hundreds of objections,” Justice Kant remarked, directing that a senior official from the Ministry…

IndustryLatest Stories

Anant Raj Shares Drop 4% After QIP Launch, Floor Price at ₹695.83

Shares of Anant Raj Ltd experienced a decline, dropping by up to 4% to a low of Rs 708.40 on the NSE on Wednesday, October 8. This dip followed the company’s board decision to initiate a qualified institutional placement (QIP) of equity shares with a minimum price set at Rs 695.83 per share, representing a 5.5% discount relative to the previous closing price of Rs 736. The floor price aligns with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as stated in a regulatory filing from October 7. Anant Raj noted that the…

Latest StoriesRegulatory

Lucknow seals Sahara Shaher for lease violations; company appeals

File Photo LUCKNOW: Sahara Shaher, located in Lucknow’s upscale Gomti Nagar, was sealed by municipal authorities on Monday due to alleged lease violations. Lucknow Mayor Sushma Kharkwal stated, “The decision to seal the premises was made because Sahara authorities breached the terms of their 30-year lease, which expires in 2024.” A team from the municipal corporation, supported by police, executed the sealing. According to SEBI regulations, Kharkwal mentioned that Sahara India violated the agreement signed in 1994 by failing to construct homes or develop any projects as mandated. The 170-acre Sahara Shaher land is now under the control of the…

IndustryLatest Stories

Grand Housing in Chennai Files DRHP for IPO

NEW DELHI: Grand Housing, based in Chennai, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO). The offer, priced at ₹5 per equity share, includes a sale of up to 35,500,000 shares by promoter Vijay Surana J. Established in 2004, Grand Housing primarily concentrates on plotted developments in Tamil Nadu. The company is focused on acquiring adjacent land parcels to create larger, more economically viable areas for future development. Its real estate offerings include two main segments: the residential segment, which focuses on the development…

Latest StoriesRegulatory

Sebi, stock exchanges drop fines on Unitech

The Securities and Exchange Board of India (Sebi), along with the NSE and BSE, has decided to waive fines and penalties previously imposed on Unitech due to non-compliance issues linked to its former management, according to the government-appointed board of the embattled real estate firm. The leading stock exchanges have also lifted trading restrictions on Unitech securities. Starting October 7, Unitech Ltd’s securities will be transitioned from the restricted Z category to the actively traded B category on the BSE, while the NSE will move the company from the restricted BZ series to the default EQ series. “Shareholders have long…

CommercialLatest Stories

WeWork India Reports ₹14.14 Crore Loss Ahead of IPO

NEW DELHI: WeWork India, a major player in co-working spaces, is set to launch its Initial Public Offering (IPO) this week. The company has reported a loss of Rs 14.14 crore for the first quarter of this fiscal year, despite an increase in revenue, driven by robust office demand. The loss in the same quarter last year was Rs 29.17 crore. WeWork India’s revenue from operations rose by 19% to Rs 535.31 crore in the April-June quarter, compared to Rs 448.65 crore during the same period last year, as indicated in the latest Red Herring Prospectus (RHP) submitted to SEBI.…

IndustryLatest Stories

Sahara Seeks SC Approval for Asset Sale to Adani Properties

NEW DELHI: Sahara India Commercial Corporation Ltd (SICCL) has approached the Supreme Court for permission to sell various properties, including Amby Valley in Maharashtra and Shahara Saher in Lucknow, to Adani Properties Private Limited. The petition, mentioned for hearing recently, is expected to come up on October 14. In the plea filed by advocate Gautam Awasthi, it states, “..to outright sell various properties belonging to the Sahara Group to Adani Properties Private Limited under the terms outlined in the term sheet dated September 6, 2025.” The interlocutory application, filed in ongoing matters concerning the Sahara Group, outlined the challenges faced…

IndustryLatest Stories

Indiabulls AMC, others resolve AIF violations case with Sebi

NEW DELHI: Indiabulls Asset Management Company, now known as Groww AMC, along with its schemes and former officials, settled a case with SEBI regarding alleged breaches of alternative investment fund regulations after a payment of ₹1.43 crore. Those involved in the settlement include Indiabulls AIF, Indiabulls Dual Advantage Real Asset Fund (IBDARA), Indiabulls Real Estate Fund (IBREF), Ambar Maheshwari, Amit Jain, and Parth Muria, as stated in a SEBI order. The case was related to violations reportedly dating back to 2017. In 2023, Indiabulls AMC was acquired by the fintech company Groww. It has three business sectors: mutual funds, alternative…

Latest StoriesResidential

SEBI Leases ₹7L/month Apartment for Chairman in Prabhadevi

Here’s a rewritten version of the provided content: The Securities and Exchange Board of India (SEBI) has leased a luxury apartment in the upscale Prabhadevi area of south Mumbai for its chairman, with a monthly rent of ₹7 lakh. The three-year lease, signed on September 3, 2025, covers a five-bedroom unit spanning 3,000 sq ft in a premium residential complex overlooking the Arabian Sea. The current Chairman of the capital market regulator is Tuhin Kanta Pandey, who assumed office on March 1. Situated on the 51st floor of Rustomjee Crown, which is part of a 5.75-acre development, the apartment includes…