Sebi withdraws permanent recognition granted to ICEX
时间:2024-06-17 03:52:33 阅读(143)
Markets regulator Sebi on Thursday said it has withdrawn the recognition granted to the Indian Commodity Exchange Limited (ICEX).“The Securities and Exchange Board of India has withdrawn the recognition granted to the Indian Commodity Exchange Limited, vide notification dated May 18, 2022,” according to a press release issued by the regulator.
The withdrawal of recognition follows an order passed by Sebi on May 10 after finding the bourse non-compliant on several grounds like net worth and infrastructural requirements.
Besides, it has been asked to set aside sufficient funds to provide for settlement of any claims, clear the dues outstanding to Sebi and pay Sebi registration fees as per brokers’ norm by its trading members.
Further, ICEX has been directed to refrain from using the expression ‘stock exchange’ or any variant in its name or in its subsidiary company’s name.ICEX was recognised as an exchange under forward contracts through a notification issued in October 2009 by the central government on a permanent basis.
Also Read: Zerodha’s Nikhil Kamath tells when to buy stocks, shares Buffett formula to find the right time
FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.
猜你喜欢
- India Shelter Finance makes strong market debut with over 25% premium; Should you invest now -
- In Pictures – Muslims around the world celebrate Eid-Al-Fitr 2022
- India turns 10% of its petrol green, targets a fifth by 2025
- Improved earnings to lift Sensex, Nifty higher; private banks, IT space attractive for investors
- Year-ahead -Top realtors expect 10-15% jump in home sales
- India bond yields seen rising on elevated US peers
- Thousands evacuated as devastating floods hit northeastern China – In pics
- bi, Daiichi Sankyo has said that going ahead with the open offer at this stage would be “illegal”, “an abuse of process of law”, and “gross overreach” of the pending proceedings before the Delhi High Court and also in violation of the orders of the Supreme Court. The market regulator should, therefore, hear it out before taking any call on the IHH’s proposal, it said.
The Japanese pharma major is also filing a plea before the Delhi HC seeking appointment of forensic auditors to analyse transactions involving IHH, Fortis Healthcare and RHT, Singapore, as directed by the HC on October 18.
The development is likely to create legal hurdles and delay the proposed open offer as IHH had recently told FE that it could only go ahead if Sebi agreed with its legal interpretation that the SC’s September 22 order has lifted all such restraints.
IHH managing director and CEO Kelvin Loh told FE on November 9 that the company would like to go ahead with the open offer “as soon as possible” as there has already been a delay of four years. Ravi Rajagopal, chairman of Fortis Healthcare, had added that their legal counsel has advised that the company can go ahead with the open offer as the SC order has disposed of various appeals, including the suo motu contempt. “We have represented to the Sebi and the matter is with them,” Rajagopal had said.
However, legal observers told FE that the matter is not that straightforward and simple as the Delhi HC has to take the final call on the matter of open offer as well as whether a forensic audit has to be done in the share sale which was executed in 2018.
Also Read: IHH to float open offer for Fortis if Sebi concurs with our legal view: MD & CEO
Loh and Rajagopal had said the possibility that the matter may take a different turn when it comes up in Delhi HC cannot be ruled out.
IHH had in July 2018 acquired a 31% stake in Fortis Healthcare for Rs 4,000 crore through the bidding route. It had also earmarked Rs 3,000 crore to make an open offer for an additional 26% to the public shareholders as required under the law.
Daiichi has written to Sebi that the SC in its September 22 order had asked the HC to consider ordering a forensic audit into the dilution of FHL shareholding, repeated violation of undertakings and assurance by former FHL promoters — Malvinder and Shivinder Singh — and the transaction between FHL, IHH and the clandestine transfer of Rs 4,666 crore to RHT Singapore.
Daiichi is “severely prejudiced” with IHH’s clandestine attempt to subvert the status quo order directed by the SC on December 14, 2018, and September 22 with respect to the conduct of forensic audit and the pending proceedings before the HC by purportedly consulting regulatory authorities, including Sebi, on the proposed FHL-IHH transaction. It has reiterated that the FHL-IHH transaction was currently sub-judice before the HC where FHL is also a party, its solicitors, P&A Law Offices, have said in the letter.
“We further state that any such attempt by FHL and/or IHH to proceed with the FHH-IHH transaction would be in direct contravention of the HC and SC orders,” the letter sent by the law firm has stated. Daiichi Sankyo is pursuing the enforcement of Rs 3,500-crore arbitration award against the Singh brothers pronounced by a Singapore tribunal for concealing information when they sold Ranbaxy Laboratories to it for $4.6 billion in 2008. The apex court had in 2018 put on hold the sale of Fortis Healthcare to IHH on a contempt plea filed by the Japanese drugmaker against the Singh brothers.
- This is how Indian Railways’ Vande Bharat Express trains are manufactured – See PHOTOS