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Capital markets regulator Sebi has imposed penalties totalling Rs 28.95 crore on Suzlon Energy, its chairman and managing director Vinod R Tanti, promoter Girish R Tanti and others for alleged misstatements in the company’s financial disclosures spanning several years, PTI reported.In a 96-page order issued on Friday, Sebi said Suzlon Energy Ltd’s financial statements did…
NEW DELHI: Continuing its operation against alleged fraudulent corporate resolutions of bankrupt companies and money laundering activities during insolvency proceedings at National Company Law Tribunal (NCLT), ED on Thursday arrested Arvind Kumar, a former resolution professional (RP) of Richa Industries Ltd.Kumar, who was the company’s RP between 2018 and 2025, is the first ever RP…
The budget has announced a major overhaul in the taxation of share buybacks, shifting them from dividend taxation to the capital gains framework, while imposing a higher effective tax on promoters to curb misuse of the route. Once legislated, it will apply to buy backs after April 1.The silver linings: Many shareholders could end up…
NEW DELHI: Four years after RBI ordered insolvency action against Srei Infrastructure Finance and Srei Equipment Finance, Punjab National Bank on Friday reported a loan fraud of Rs 2,434 crore committed by the erstwhile promoters of the two non-bank finance companies to the regulator.It reported a fraud of Rs 1,241 crore in the case of…
NEW DELHI: Infosys promoters and promoter group, including Nandan M Nilekani and Sudha Murty, have decided not to participate in the company’s Rs 18,000 crore share buyback, according to a regulatory filing on Wednesday.The promoters collectively hold nearly 13.1% of the company’s equity as on the buyback announcement date. “…the promoter and promoter group of…
SEBI bans 17-year-old Indian IT company and its promoters from market: Securities and Exchange Board of India (SEBI) has banned Mumbai-based IT company Synoptics Technologies and its promoters from the securities market. According to a report by news agency PTI, the regulator has also barred the 17-year-old company’s promoters – Jatin Shah, Jagmohan Manilal Shah…
MUMBAI: Sebi’s recent clarification that listed companies should disclose information about the relatives of the promoter including the spouse’s parents, the married children’s spouses, and their parents, as well as entities where these relatives hold over 20% in their shareholding filings, even if they do not own any shares in them, has sparked a debate…
