Budget 2018-19

  Sebi has also barred Biyani, four others from dealing in shares of Future Retail for two years The Securities and Exchange Board of India (Sebi) on Wedn­esday barred Future Group founder Kishore Biyani from the capital markets for a period of one year for alleged breach of insider trading regulations. The regulator directed Biyani and three other entities to disgorge more than Rs 20 crore made wrongfully by dealing in shares while in possession of unpublished price sensitive information (UPSI). The matter dates back to 2017, when company Biyani and other ‘insiders’ traded in shares of Future Retail during the period of UPSI, pertaining to a scheme of arrangement involving its home retail businesses. Sebi has also imposed a ban on Biyani and four other entities from dealing in shares of Future Retail for a period of two years. “I find that violations committed by the noticees are serious in nature and calls for regulatory directions for debarment from the securities market and for...

  The Securities and Exchange Board of India (SEBI) allowed the deal with some riders, five months after it was announced last August Market regulator SEBI gave a go-ahead on Wednesday to Future Group’s scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its “no adverse observation” report to the Rs 24,713-crore deal. The Securities and Exchange Board of India (SEBI) allowed the deal with some riders, five months after it was announced last August. ALSO READ:  Delhi HC rules Amazon’s attempt to control Future violative of FEMA FDI The SEBI has said the litigation pending before the Delhi High Court and arbitration proceedings by the global e-commerce major Amazon contesting the deal should be specifically mentioned by Future Group while seeking shareholders or the National Company Law Tribunal approval, the BSE stated in its observation letter. It has also held that SEBI’s go-ahead on the draft scheme of arrangement would...