SEBI Act and SCRA

Actions against Directors and Promoters of Exclusively Listed Companies

Background In 2008, the Securities and Exchange Board of India (SEBI) started de-recognition of regional stock exchanges. The companies which were exclusively listed on these de-recognized stock exchanges (the Exclusively Listed Company or ELCs) were transferred to the Dissemination Board (DB) hosted by nationwide exchanges (NSE and BSE) and were given two options: (i) to list on nationwide…

SEBI has powers to regulate GDRs

SEBI, through its order dated June 20, 2013, had barred Pan Asia Advisors and one Mr. Arun Panchariya from rendering services in connection with securities, dealing in securities and accessing the capital market for 10 years, for having manipulated the securities market by issuing global depository receipts. This order was challenged before the Securities Appellate…

© Finsec Law Advisors | 2017
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