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Indian Express
5 days ago
- Indian Express
Penalty for securities market violations surged 11 times to Rs 813.83 cr in 2024-25: Sebi annual report
The total amount of penalty imposed by Securities and Exchange Board of India (SEBI) for violation of various market regulations surged 11 times to Rs 813.83 crore during 2024-25, compared to Rs 74.66 crore in the previous fiscal. While the amount of penalty increased substantially, the number of entities found violating different securities regulations declined 26 per cent to 463 in 2024-25, down from 629 in 2023-24, according to Sebi's Annual Report for 2024-25. The regulator saw the highest number violations under Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) category with 155 entities found flouting regulations. This was followed by 116 entities violating Listing Obligations and Disclosure Requirements (LODR) regulations. In 2024-25, direction of debarment was issued against 202 entities, both debarment and disgorgement directions were issued against 89 entities and only disgorgement direction was issued against 15 entities, the annual report showed. In its effort to unearth market misconduct, Sebi conducted search and seizure operations involving 89 entities at 71 locations covering 18 cities across the country. During the year, Sebi initiated investigations in 400 cases pertaining to various violations of securities laws and 301 cases were completed. Investigations were taken majorly for insider trading (287 cases) and market manipulation and price rigging (106 cases). Sebi said that it identified Rs 77,800.4 crore as 'difficult to recover' dues at the end of fiscal 2024-25, as against Rs 76,292.9 crore as on March 31, 2024. Sebi said it received 68,132 complaints through its online grievance redressal platform SCORES in 2024-25, with nearly 38 per cent against stock brokers. Of the 68,132 complaints received, 63,971 grievances were disposed of while 4,074 are still pending, the report showed. Further, Sebi Chairman Tuhin Kanta Pandey, in the annual report, said the regulator was looking at further simplifying the regulatory framework for foreign portfolio investors, with an aim to ensure long-term foreign capital flows into the domestic market. 'The priority of Sebi for the coming year is rationalizing and simplifying regulatory framework for foreign portfolio investors (FPIs) with the objective of enhancing the ease of operations and encouraging long-term foreign capital flows,' Pandey wrote in his statement in the annual report. He said the regulator will make efforts to streamline processes, remove regulatory frictions and strengthen engagement with FPIs and stakeholders. Foreign capital has played a vital role in the development of India's securities markets and contributed to sustained capital formation. Markets regulator has already undertaken a host of reforms to ease regulations for FPIs. Last week, Sebi had floated a consultation paper to improve ease of investments by simplifying onboarding and ongoing compliances for a specific set of Foreign Portfolio Investors (FPIs) like government-owned funds and certain regulated public retail funds – that are objectively verified as belonging to a low-risk category. In the coming year, Sebi has proposed to initiate a comprehensive exercise to rationalize and optimize existing regulations. 'To address this, the focus will be on identifying and removing regulatory redundancies, simplifying procedural requirements and leveraging technology to ease the compliance burden,' Pandey said.
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Business Standard
7 days ago
- Business Standard
Committee reports, legislative business to be discussed in Lok Sabha today
The Standing Committee on Finance will table its 25th report on the 'Evolving Role of the Competition Commission of India in the Economy, particularly the Digital Landscape' ANI The Lok Sabha is set for a packed agenda on Monday, with multiple committee reports, ministerial statements, and significant legislative business scheduled for discussion. The day's proceedings will begin at 11 am with questions entered in a separate list to be asked and answers given. This will be followed by the laying of papers on the table by ministers from various departments, including Gajendra Singh Shekhawat for the Ministry of Culture; Jayant Chaudhary for the Ministry of Education; Pankaj Chaudhary for the Ministry of Finance; Kirtivardhan Singh for the Ministry of Environment, Forest and Climate Change; and Sukanta Majumdar for Ministry of Education. Among the key reports to be presented is the Eighth Report of the Standing Committee on External Affairs on the 'Evaluation of India's Indian Ocean Strategy' by Shashi Tharoor and Arun Govil. The Standing Committee on Finance will table its twenty-fifth Report on the 'Evolving Role of the Competition Commission of India in the Economy, particularly the Digital Landscape' by Bhartruhari Mahtab and Thiru Arun Nehru. For the Standing Committee on Railways, C.M. Ramesh and Bhola Singh will present two reports, including one on the construction and maintenance of rail tunnels and bridges and another on action taken regarding Demands for Grants (2025-26). For the Standing Committee on Water Resources, Pratap Chandra Sarangi and Rodmal Nagar will present four action-taken reports on Demands for Grants (2024-25 and 2025-26) for the Departments of Drinking Water & Sanitation and Water Resources, River Development & Ganga Rejuvenation. For the Standing Committee on Rural Development and Panchayati Raj, Saptagiri Sankar Ulaka and Raju Bista will present reports on 'Clean and Green Village: Role of Panchayats' and action taken on Demands for Grants (2025-26). For the Standing Committee on Social Justice and Empowerment, P.C. Mohan and Anoop Pradhan Valmiki will present three action-taken reports covering the Ministries of Social Justice and Empowerment, Tribal Affairs, and Minority Affairs. For the Standing Committee on Education, Women, Children, Youth and Sports, Angomcha Bimol Akoijam and Darshan Singh Choudhary will present the 362nd Report on action taken regarding the implementation of the National Education Policy, 2020, in Higher Education. Ministers will also make statements. Pankaj Chaudhary will make statements on the implementation status of committee recommendations regarding credit flows to the MSME sector, cyber security and white-collar crimes, and the regulation of the insurance sector. Harsh Malhotra will make statements on recommendations related to Demands for Grants (2024-25 and 2025-26) pertaining to the Ministry of Corporate Affairs. On the legislative front, the House will take up three significant bills for consideration and passing. First is the National Sports Governance Bill, 2025, introduced by Mansukh Mandaviya. This bill seeks to provide for the development and promotion of sports, welfare measures for sportspersons, and ethical practices based on the Olympic and Paralympic Charters. It also proposes a unified mechanism for resolving sports disputes and grievances. Second is the National Anti-Doping (Amendment) Bill, 2025, also to be moved by Mansukh Mandaviya. This amendment aims to amend the National Anti-Doping Act, 2022. Both sports-related bills will be discussed together. Third is the Indian Ports Bill, 2025, to be moved by Sarbananda Sonowal. This bill aims to consolidate port laws, promote integrated port development, establish State Maritime Boards and a Maritime State Development Council, manage environmental and security issues, and provide mechanisms for resolving port-related disputes. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
22-07-2025
- Time of India
US-Iran strikes: Tehran admits nuclear facilities were 'seriously damaged'; Trump warns 'will do it again, if necessary'
Iranian nuclear infrastructure suffered 'serious damage' after US missile strikes last month, but the regime has vowed to restart uranium enrichment as soon as its facilities are rebuilt, foreign minister Abbas Araghchi said on Monday. Speaking to Fox News' Special Report, Araghchi admitted that Tehran's enrichment programme had been halted after three major sites were targeted on 22 June, under orders from US President Donald Trump. 'Our facilities have been damaged, seriously damaged, the extent of which is now under evaluation,' Araghchi told host Bret Baier. 'The facilities have been destroyed.' President Trump quickly reacted to the remarks, saying he was proven right in a post on Truth Social. 'Iran's Foreign Minister, Abbas Araghchi, on the Iran Nuclear Sites: 'Damages are very severe, they are destroyed.' "Of course they are, just like I said, and we will do it again, if necessary!" he said. The US President further went on to demand an apology from CNN, accusing the network of downplaying the effectiveness of the strikes and calling for the sacking of one of its journalists. "As interviewed by Bret Baier. Fake News CNN should immediately fire their phony 'reporter' and apologize to me and the great pilots who 'OBLITERATED' Iran's nuclear sites. CNN is a major ratings loser, as is MSDNC!" The Iranian minister added that the country had not been able to refine nuclear fuel since the airstrikes, but stressed the country would not abandon its nuclear ambitions, which he insisted were for 'peaceful purposes.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Citadel by Mahindra – Homes with a Modern Edge Mahindra Citadel Enquire Now Undo 'It is now stopped because, yes, damages are serious and severe, but obviously we cannot give up our enrichment,' he said. 'It is an achievement of our own scientists." "And now, more than that, it is a question of national pride,' the minister further added. Araghchi also highlighted Tehran's firm stance ahead of any potential talks with Washington. He ruled out accepting any nuclear agreement that restricts domestic uranium enrichment, calling it a 'matter of dignity for the Iranian people.' 'If the goal is to make sure that Iran will never have nuclear weapons, that is achievable,' he said. 'But if the goal is to deprive Iran from its rights, including the right of enrichment, I think we have, we have difficulty,' New York Post cited Araghchi. Despite the destruction of several key sites, Araghchi insisted Iran retained the technical knowledge and personnel needed to resume enrichment in the future. 'Buildings can be rebuilt. Facilities can be rebuilt. Machines can be replaced,' he said. 'The technology is there.' When asked whether Iran's existing stockpile of enriched uranium had survived the strikes, he said he had 'no detailed information.' Araghchi also rejected any suggestion that Tehran would scale back its ballistic missile programme or withdraw support for regional proxy groups such as Hamas, Hezbollah and the Houthis. 'They are fighting for a just cause, and we have always supported them,' he said. 'On our missiles, as I said, that is our most reliable means of defense.' 'How we can disarm ourselves? Who can [Iran] accept anything like that?' The foreign minister did leave the door open to renewed diplomacy but ruled out direct talks with the Trump administration for the time being. 'If they are coming for a win-win solution, I am ready to engage with them,' he said.
