Market SBI’s Hunter, Banned These 4 Share Broker Companies Together, Run On Closing Day
SEBI New Order: In two separate orders, SEBI found in its investigation that these companies were providing investment advisory services without a certified certificate as an investment advisor। Some more information was also revealed। Now the news is coming that all four of those companies have been banned.
SEBI News: Today the stock market is closed। This is the first time in this financial year that there are locks in the market twice in a week। With the stock market closing, the biggest news that has come to investors today is the ban of four big share broker firms by SEBI। This order from SEBI has stirred investors। Explain that capital market regulator SEBI on Friday banned four companies from the security market for six months for providing investment consulting services without approval। Indian Securities and Exchange Board (SEBI) has course work focus and its owner Shashank Hirwani, Capital Research owner Gopal Gupta and Capers owner Rahul Patel have been barred from participating in the securities market for six months। Of the two separate orders, SEBI found in its investigation that these companies were providing investment advisory services without a certified certificate as an investment advisor.
Millions of rupees were made incorrectly
According to the market regulator, Course Work Focus and Hirwani collectively raised more than Rs 96 lakh from investors during March 2018 to July 2020। At the same time, Gupta and Patel collected Rs 60.84 lakh from investors between June 2014 and November 2019। SEBI said in its final order passed on Wednesday that such actions violated the IA ( Investment Advisor ) rules। SEBI, in its order, has directed companies to refund the investors’ money paid for such services within three months। Please tell a few days ago, SEBI had decided to amend the rules to increase transparency in operating arrangements in listed companies and to ensure timely disclosure of necessary information। According to the statement of the Indian Securities and Exchange Board ( SEBI ),In the meeting of the Board of Directors, it was decided that the deadline for disclosure of necessary information would be strictly followed। At the same time, the regulator has decided to end the system of seats for the permanent members of the board of directors of listed companies। The statement said that the listed companies have to verify the market rumors and confirm or dismiss them according to whatever the situation.
New rule will be applicable from October 2023
This arrangement will be applicable from October 1, 2023 for Top-100 companies in terms of market capitalization। At the same time, it will be applicable from April 1, 2024 for the top-250 listed companies in terms of market capitalization। To strengthen the operating arrangements in the listed companies, Sebi said that any special rights granted to the shareholder of a listed unit require the approval of the shareholders from time to time Will be to address the issue of long-term rights of special rights। To remain on the board of directors of a listed entity, shareholders will need periodic approval। It aims to end the trend of permanent board of directors.
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