All posts tagged: SEBIs

Indian Web3 Players Call SEBI’s Vision for Distributed VDA Governance Encouraging, Pragmatic

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The Securities and Exchange Board of India’s (SEBI), this week, said it could work with the RBI and Insurance Regulatory and Development Authority of India (IRDAI) to monitor India’s digital assets sector. In its suggestion to the government, the Indian markets regulator said it could oversee cryptocurrencies that can be seen as securities as well as keep an eye on Initial Coin Offerings (ICOs). As part of SEBI’s advice, the RBI and the IRDAI could respectively keep checks on fiat-backed stablecoins, and virtual assets related to insurance and pensions. Essentially, the SEBI has suggested that instead of having one particular body governing the virtual digital assets sector, a collection of already established government bodies can distribute the oversight on this up-and-coming sector. In conversation with Gadgets360, Edul Patel who heads the crypto investment platform Mudrex said, SEBI’s recognition of the VDA sector in India is a positive sign in itself. In addition, its advice to distribute the oversight on the VDA sector among different bodies will leverage the expertise of various financial authorities, thereby enhancing …

Respecting SEBI’s mandate, expertise, functional freedom

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On January 3, the Supreme Court (SC) disposed of four writ petitions filed in the wake of two reports (by Hindenburg Research and Organized Crime and Corruption Reporting Project) that raised multiple allegations against the Adani group of companies. Following the judgment, a statement was issued on behalf of the Adani group, claiming that its position has been vindicated. Whether this is an accurate claim is a matter for another day. However, while answering the questions raised in the writ petitions, the judgment has given rise to a few other issues that need to be discussed. PREMIUM The contentions in the petitions centred around the alleged dilatoriness and the absence of competence of the Securities and Exchange Board of India (SEBI) to deal with the issues that the research reports had raised. (REUTERS) The contentions in the petitions centred around the alleged dilatoriness and the absence of competence of the Securities and Exchange Board of India (SEBI) to deal with the issues that the research reports had raised. The first question that needs to be …

Tewari criticises SEBI`s `lackadaisical attitude` in Adani-Hindenburg probe

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Congress MP Manish Tewari criticised the Securities and Exchange Board of India (SEBI) on Wednesday for its sluggish approach in investigating the allegations made in the Hindenburg report against Adani Group, reported news agency ANI. Raising concerns on the delay in Adani-Hindenburg probe, Manish Tewari pointed out that the Hindenburg report came out a year ago and alleged that SEBI has been delaying it since then, reported ANI. “The fundamental fact remains that the Hindenburg report came into the public domain exactly one year ago and since one year, SEBI has been dragging its feet on the allegations made in the Hindenburg report,” the Congress MP said while speaking to ANI. He emphasized the sensitive nature of the matter and expressed dissatisfaction with SEBI`s attitude in Adani-Hindenburg probe, reported ANI. “If on a matter as sensitive as this, it takes one year to even complete an investigation, it just goes to show how lackadaisical the attitude of SEBI is,” Tewari said, reported ANI. “If SEBI wanted, it could have completed the investigation a long time …