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Veyini Ramamoorthy at 08:27 PM - Apr 07, 2014 ( ) Views: 728

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P-Notes holders may be taxed in next budget: Shome

 

"So far PNs issued by the FIIs to overseas investors were not taxed by the Income Tax department. But after deliberations in the finance department, the PN holders may be taxed in the next budget", Shome said at an interaction organised by ICAI here today.

NO RESPONSE FROM fii.....

 


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Veyini Ramamoorthy at 10:57 PM - Oct 13, 2014 ( )

hello Mr Sebi...

Your penalty is ok.. Can you do something to get the Investors money back... that Rs 525/= was paid on Rs 2 stock? 

Veyini Ramamoorthy at 10:51 PM - Oct 13, 2014 ( )

Oct 13, 2014, 06.51 PM IST | Source: Moneycontrol.com

SEBI bars DLF, chairman KP Singh from capital mkt for 3 yrs

The SEBI is now awake, is watching and noticing. Anybody who makes a false or incomplete or incorrect disclosure is in for trouble, says JN Gupta, Former ED, SEBI
 
SEBI bars DLF, chairman KP Singh from capital mkt for 3 yrs

The SEBI is now awake, is watching and noticing. Anybody who makes a false or incomplete or incorrect disclosure is in for trouble, says JN Gupta, Former ED, SEBI

The Securities and Exchange Board of India (SEBI) has barred India's largest real estate comopany DLF Ltd from accessing the capital market for three years for non-disclosure of its 2007 IPO documents.In addition, DLF chairman KP Singh and Vice Chairman Rajiv Singh, among others, have been barred from the securities market for three year.

SEBI found that the RHP/Prospectus of DLF contained misleading disclosures with regard to the material information and did not contain fair and clear disclosures with regard to material information. SEBI noted that DLF had misled and defrauded investors in securities market by knowingly suppressing  several material facts and information in the RHP/Prospectus in connection with the issue of shares of DLF.

Other DLF executives who are facing the three-year ban include TC Goyal, Pia Singh, GS Talwar, Kameshwar Swarup and Ramesh Sanka.

DLF came out with an Initial Public Offer (IPO) in the year 2007 for issuance of 17,50,00,000 equity shares of Rs 2 each at a price of Rs 525 per equity share aggregating to Rs 9187.5 crore. In respect of the said IPO, DLF had filed its draft Red Herring Prospectus (DRHP) dated January 2, 2007 with SEBI. Before the said IPO, DLF had filed a DRHP dated May 11, 2006 which was withdrawn by DLF and subsequently it filed the second DRHP dated January 2, 2007. SEBI issued its observations on the second DRHP on May 7, 2007. Thereafter, DLF issued the RHP dated May 25,2007. The issue opened on June 11, 2007 and closed on June 14, 2007.

Welcoming the decision, JN Gupta, Former ED, SEBI told CNBC-TV18 the order is a lesson that needs to be learnt by all issuers including merchant bankers. "The Sebi is now awake, is watching and noticing; and anybody who makes a false disclosure or incomplete disclosure or incorrect disclosure is in for trouble sooner or later."

Speaking about the SEBI restriction on DLF and its promoters, IIAS COO Hetal Dalal said he feels such a a strong stand will help strengthen corporate governance standards in India. "Companies should be careful about what they disclose in their prospectus."

Meanwhile, shares of DLF closed down Rs 5.65, or 3.71 percent at Rs 146.70 on Monday.

Veyini Ramamoorthy at 08:08 AM - Apr 08, 2014 ( )

in the last five years, the present government achived degrowth from 9.5 - 4.5 with a well planned monetary policy.. if some one attampts to digest the facts from the NAV'S and the invested amount of the Indian retailers, the loss is just 5 of the GDP......

In end of 2007, there came fresh IPO around 1000 in numbers in mutual funds and stocks that those subscribers fund were carefully distilled by the FII'S with the aid of governments monetary policy.... 

They could never able to achieve either inflation target or growth target and forget about rupee devaluation.... they had only one target: loot india loot india loot india....

Veyini Ramamoorthy at 07:58 AM - Apr 08, 2014 ( )

"So far PNs issued by the FIIs to overseas investors were not taxed by the Income Tax department."

this sentance makes the impression that the ECONOMISTS GOVT deliberatly wanted the sell-off in equity during last 5 years that made many of companies bankrupt due to the disadvantages of their increasing loan growth and sell-off of the hypothecated shares from the lending institutions, as the FII are the kith &Kin of the ruling government....

Veyini Ramamoorthy at 08:30 PM - Apr 07, 2014 ( )

I think FII crooks are now happy about this taxing I guess.... bcs this news put a safety net for their investment already made at bottom ( need to  stay here for more than 1 year for tax free usually)..

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