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19 September 2021
12:23 hour

Sebi penalises 2 promoter companies of Videocon Industries

Money Works 4 Me

14/09/2021 - 14:59

The entities have violated Prohibition of Insider Trading (PIT) norms


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  2. Sebi catches up with changing corp landscape (13/05/2021 - Financial Express)
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  3. Non-Compliance: Sebi, DRI probing Adani firms, says govt (20/07/2021 - Financial Express)
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  4. Protecting IBC’s spirit: NCLT focus on confidentiality clause in Videocon Industries resolution welcome (18/06/2021 - Financial Express)
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  5. No takers for Videocon’s energy biz; September 30 new deadline for resolution (07/09/2021 - Financial Express)
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  6. Promoter pledged shareholding continues to fall; Adani Ports, Sun Pharma promoters trim pledges (12/08/2021 - Financial Express)
    The value of pledged promoter holdings as a percentage of the value of total promoter holdings fell to 1.61% in the April-June quarter from 1.64% in the January-March quarter.
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  7. Videocon to give Anil Agarwal’s group majority stake in Ravva oilfield (09/06/2021 - Financial Express)
    "Mr. Anil Agarwal's visionary leadership has successfully turned around various stressed assets in the past. The Videocon acquisition shall be no different and we are really excited to nurture the asset for overall value creation for our employees, customers, and stakeholders," the filing said.
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  8. Cassini Partners acquires stake in Hind Rectifiers (26/08/2021 - Money Works 4 Me)
    As on June 2021, promoter and promoter group holding stood at 42.25 percent
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  9. NCLT directs freezing, attaching assets of Videocon promoters (01/09/2021 - Financial Express)
    The NCLT Mumbai bench has directed the Central Depository Services Ltd (CDSL) and National Securities Depository Ltd (NSDL) that securities owned or held by the Videocon promoters "in any company or society be frozen, and be prohibited from being transferred or alienation" and the details be shared with the Ministry of Corporate Affairs (MCA).
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  10. Promoters’ pledged shareholding falls to 1.64% in Q4; value of pledged shares at Rs 1.6 lakh cr (12/05/2021 - Financial Express)
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  11. Reverse proposed mutual funds AT-1 norms, Finance Ministry tells Sebi (13/03/2021 - Financial Express)
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  17. Tega Industries plans Rs 700-750-crore IPO, files draft documents with Sebi (19/08/2021 - Financial Express)
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  25. A warning about exploration companies (25/08/2021 - Reddit Stock Market)
    This post reflects what I have found after looking at countless exploration companies, mostly in the Americas.. Occasionally, there is real value that can be found, but more often than not, there are common attributes that are easy indicators that the company is probably going nowhere: There is zero revenue Their balance sheet is growing in two spots: equity issues and negative retained earnings They sometimes have excess capital from capital raised, but it is always less than the total proceeds from equity issuance. They have never been profitable, and usually never had any revenue The properties they own have a history of changing hands, and/or the company has a history of restructuring and refinancing. There is occasionally a major issue with land claimed (E.g. in a protected area, under private property, under public property, in an unstable political environment, the resources are not profitably accessible) I have seen advertisements, articles (not just from motley fool), and many reddit posts on these companies. Mini case study This is one of the worst examples I have seen TSX:VUI, a Canadian registered company based in Virginia . They have a claim of uranium under the CEOs farm, valued at most $3 million. Over 14 years, they have accumulated a retained deficit of $47 million, raised $50 million in equity, and the current market cap is $12 million. After researching the CEO, it is quite visible that over the years he has become delusional. The company is continuously fighting with the Virginia state government, and the government consistently wins because the uranium deposit crosses under a public road. More concerning is the fact that the CEO is willing to spend 15 times the total value of the claim just on legal fees. I have come up with the following reasons why somebody might be promoting companies like this: The promoter is trying to pump the stock after losing a significant portion of their principal from dilution. The promoter is just trying to pump a small cap company for short term gains, and they have chosen the exploration companies because the promoter can create enough content to represent most of the media coverage on a company. The promoter has not done adequate research or they fail to understand what the company is doing. The promoter has determined that the company will create real value, and they are producing honest research There are opportunities in the exploration industry, but the chances are, the information you are reading about why one of these companies is a great investment idea is dishonest. There are a few very skilled analysts in the field that can make huge profits, but for most of us, it’s much more likely that investing in an exploration company is worse than burning money.   submitted by   /u/sixth-edition-value [link]   [comments]
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  39. Glenmark Life Sciences files IPO papers with SEBI; plans to sell over 73 lakh shares via OFS (17/04/2021 - Financial Express)
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  40. Franklin Templeton disagrees with Sebi order; to move SAT (08/06/2021 - Financial Express)
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  41. SEBI to allow accredited investors, make capital markets investing easier, tighten independent director norms (30/06/2021 - Financial Express)
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  43. Emcure Pharmaceuticals files draft IPO papers with SEBI; plans to raise over Rs 1,100 crore (19/08/2021 - Financial Express)
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  45. CarTrade Tech files IPO papers with SEBI, issue entirely an OFS; key things to know about public issue (17/05/2021 - Financial Express)
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  46. Sebi cancels Alliance Intermediaries and Network registration as stock broker (10/03/2021 - Financial Express)
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  47. Delisted Chemplast Sanmar files IPO papers with SEBI; plans to launch Rs 3,500 crore public issue (03/05/2021 - Financial Express)
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  48. ESAF Small Finance Bank files Rs 998-cr IPO papers with SEBI; will join Ujjivan SFB, Equitas SFB upon listing (27/07/2021 - Financial Express)
    ESAF Small Finance Bank has filed a draft red herring prospectus (DRHP) with capital markets regulator SEBI to launch Rs 998-crore IPO.
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  49. Franklin Templeton CEO, fund managers fined Rs 15 cr by SEBI; forensic audit reveals discrepancies (15/06/2021 - Financial Express)
    The SEBI order imposes a Rs 3 crore penalty on Franklin Templeton Trustee Services and another Rs 2 crore each on Franklin Templeton AMC CEO, Sanjay Sapre and CIO Santosh Kamat.
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