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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
SEBI’s strictures and fines against the Chennai-based company and its leadership may be a case of too little, too late.
Editor's note: In December, the Securities and Exchange Board of India issued an order againstChennai-based SecureKloud Technologies (previously known as 8K Miles Software Services) and some of its key management personnel. The market regulator found the company and three of its directors guilty of misrepresenting financials as well as siphoning funds. It imposed penalties adding up to Rs 10 crore and barred the company and three individuals—Suresh Venkatachari, R.S. Ramani and Gurumurthi Jayaraman—from accessing the securities market for a period ranging from one to three years. In the case of Venkatachari, the company’s CEO, the penalty was Rs 3 crore and the ban was for three years. It also said that the three cannot associate themselves with any SEBI-registered entity or act as directors of any listed public company that intends to raise money from the public for a period ranging from six months to a year. This is a big shift from five years ago, when 8K Miles was a stock market favourite and Venkatachari a regular on CNBC, India’s most watched business news channel. The company, which described itself as …
SEBI’s strictures and fines against the Chennai-based company and its leadership may be a case of too little, too late.
Editor's note: In December, the Securities and Exchange Board of India issued an order againstChennai-based SecureKloud Technologies (previously known as 8K Miles Software Services) and some of its key management personnel. The market regulator found the company and three of its directors guilty of misrepresenting financials as well as siphoning funds. It imposed penalties adding up to Rs 10 crore and barred the company and three individuals—Suresh Venkatachari, R.S. Ramani and Gurumurthi Jayaraman—from accessing the securities market for a period ranging from one to three years. In the case of Venkatachari, the company’s CEO, the penalty was Rs 3 crore and the ban was for three years. It also said that the three cannot associate themselves with any SEBI-registered entity or act as directors of any listed public company that intends to raise money from the public for a period ranging from six months to a year. This is a big shift from five years ago, when 8K Miles was a stock market favourite and Venkatachari a regular on CNBC, India’s most watched business news channel. The company, which described itself as …
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
