Sebi passes final order on Adventz Finance

Must read

Goodbye trolls! Instagram’s new feature will stop people from posting offensive comments on your photos

Keyword moderation tool enables the user to block offensive words  Previously only available to business users but now open to all  The tool...

The Right Gifts That You Need to Have Now

Ok, the dress does not make the monk. But against a recruiter, the saying flies. A good first impression also goes through your clothes....

Top 8 Essential Mobile App Designing Tools

Introduction Every designer needs the appropriate app design platform to create an attractive and enticing user experience for smartphone apps. And to make that happen, they're...

Naya Rivera: The story behind my abortion

Editor's note: Naya Rivera is an actress, singer, and author of the new memoir, Sorry Not Sorry: Dreams, Mistakes, and Growing Up (TarcherPerigee). For six seasons,...
Lucille Barretthttps://bloggingkits.org
Future teen idol. Hardcore tv lover. Social media guru. Zombie aficionado. Travel scholar. Biker, shiba-inu lover, audiophile, Mad Men fan and proud pixelpusher. Working at the junction of minimalism and elegance to answer design problems with honest solutions. I'm fueled by craft beer, hip-hop and tortilla chips.




Mumbai: The Securities and Change Board of India (Sebi), as in line with submission earlier than the Securities Appellate Tribunal (SAT), passed a final order on Adventz Finance Ltd on 30 July.

Inside the order, Sebi declined to offer any also meantime alleviation to Jai Annanya Investments. Jai Annaya has become searching for interim relief to repay a mortgage well worth Rs.40crore to Adventz Finance.
FinanceSAT had directed Sebi on 26 July to pass a final order on Adventz Finance within a week (from the date of the order). Within the order, SAT had withdrawn the Rs.1lakh penalty on Sebi after the market regulatory frame filed a evaluate petition on an earlier SAT order dated 16 July.

In that order, the tribunal had wondered Sebi’s behavior and changed into disappointment over the put off in passing a very last order on the problem. The marketplace regulator rejected the business enterprise’s plea and claimed that Jay Annanya and Adventz Finance had been unconnected entities.

“The cloth furnished using those entities and records as available on Trade/ depositories /MCA (Ministry of Company Affairs) web sites, it’s far noted that the declare of Adventz that its miles unconnected to Jai Annanya are false,” stated Sebi’s complete-time member Rajeev Kumar Agarwal.

But, Sebi has allowed Jai Annanya to continue its Non-Banking Monetary organization (NBFC) business and allowed it to open a new account tagged as ‘consumer margin account,’ create a pledge on client securities for the cause of giving them a loan, promote customers’ securities from ‘purchaser margin account’ resulting from default by the patron to pay the margin money.

Read More Articles :

The matter pertains to a Sebi meantime order passed on 20 August 2015. The order prohibited 59 entitiesincludinged Jai Annanya, from securities markets, any referred the case to the Earnings Tax Department for similar investigations.




More articles

Latest article

Goodbye trolls! Instagram’s new feature will stop people from posting offensive comments on your photos

Keyword moderation tool enables the user to block offensive words  Previously only available to business users but now open to all  The tool...

The Right Gifts That You Need to Have Now

Ok, the dress does not make the monk. But against a recruiter, the saying flies. A good first impression also goes through your clothes....

Top 8 Essential Mobile App Designing Tools

Introduction Every designer needs the appropriate app design platform to create an attractive and enticing user experience for smartphone apps. And to make that happen, they're...

Naya Rivera: The story behind my abortion

Editor's note: Naya Rivera is an actress, singer, and author of the new memoir, Sorry Not Sorry: Dreams, Mistakes, and Growing Up (TarcherPerigee). For six seasons,...

Gold ETFs Are Still A Smart Volatility Hedge

Gold is not bereft of volatility, but the yellow metal is often thought of as a hedge against equity market turbulence. Treasury yields rest...