On Tuesday(12th March), SEBI has directed Vedanta to pay Rs.77.6 crore plus 18% interest to Cairn UK Holdings Limited for delayed dividend payments spanning from January 22, 2014, to June 20, 2017. The directive resulted from a complex legal and financial dispute, signaling SEBI’s commitment to enforcing corporate governance and financial fairness. The order also has significant implications for Vedanta’s corporate governance, including a temporary ban on the company’s Vice-Chairman and other executive directors from accessing the securities market.
The Supreme Court criticized SEBI for taking a decade to issue a show-cause notice to a finance company accused of misappropriating funds, emphasizing the need for regulatory efficiency. The court questioned SEBI’s delayed investigation, signaling a call for accountability and improvement within the regulatory body. This critique highlights the challenges in regulatory oversight and the necessity for timely and effective regulation.
In a recent turn of events in the ongoing Adani-Hindenburg controversy, a plea has been filed in the Supreme Court, seeking contempt proceedings against the Securities and Exchange Board of India (SEBI) for its alleged failure to adhere to the court-mandated timeline in investigating the Adani Group’s alleged stock price manipulation. Also read- Adani-Hindenburg Case: […]
SEBI Accused of Concealing DRI Alert on Adani Group: Petitioner Approaches Supreme Court In a recent development that has sent shockwaves through India’s financial sector, the Securities and Exchange Board of India (SEBI) finds itself under scrutiny. Anamika Jaiswal, a petitioner, has approached the Supreme Court with a detailed affidavit, alleging that the market regulator […]