Saturday, October 17
India's markets regulator has threatened two Mauritus-based funds with investments in the Adani Group that they could face penalties and cancellation of licences for not sharing shareholding details despite repeated requests over two years, according to a document reviewed by Reuters. The Adani Group and its 13 offshore investors have been facing an investigation by the Securities and Exchange Board of India (SEBI) since Hindenburg Research in 2023 alleged improper use of tax havens by the group, triggering a stock sell-off. The group has repeatedly denied wrongdoing, and its shares have since recovered. Indian regulations require that at least 25% of the shares of listed companies be held by public shareholders, but Hindenburg alleged the Adani Group breached those rules since some offsho
India's markets regulator is investigating six IndusInd Bank officials for insider trading to determine if they sold stock options while being aware of accounting lapses at the bank before these were publicly disclosed, two sources with direct knowledge of the matter said. The Securities and Exchange Board of India (SEBI) is examining the timing of trades by these six officials to ascertain whether the sales violated regulations and the internal code of conduct of India's fifth-largest lender, they said. Investigations are in preliminary stages and show cause notices to the individuals and to the bank, a formal request from the regulator for a response, have not yet been sent, the sources said. The sources declined to be identified as the investigations are confidential. IndusInd and SEBI
The Indian Cybercrime Coordination Centre (I4C), which comes under the Ministry of Home Affairs, introduced the new e-Zero FIR initiative to nab cybercriminals with unprecedented speed, Union Home Minister Amit Shah said on Monday. Launched as a pilot project for Delhi, the new system will automatically convert cyber financial crimes filed on the National Cybercrime Reporting Portal (NCRP) and helpline number 1930 to FIRs, initially above the threshold limit of Rs 10 lakh, he said. The minister said the initiative will soon be extended to the entire nation. "The MHA's Indian Cybercrime Coordination Centre (I4C) introduced the new e-Zero FIR initiative to nab any criminal with unprecedented speed. "Launched as a pilot project for Delhi, the new system will automatically convert cyber fi
