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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Called out for misrepresenting financials and resorting to practices that harmed investors, the Bombay Dyeing chairman may still find a loophole to exploit.
The Securities and Exchange Board of India has found that Nusli Wadia’s flagship firm, Bombay Dyeing and Manufacturing Co. Ltd, misreported revenue and profits pertaining to its real estate business for seven years.
In an order dated 21 October, the market regulator slapped a fine of Rs 4 crore on Wadia and restrained him from accessing the capital market for two years. It also imposed fines on his two sons, Jehangir and Ness, along with several executives of his group companies and imposed restrictions on them too.
The SEBI order is significant for two reasons. One, this may well be …
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
