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Updated: Nov 17 2012, 07:16am hrs
Srei Infra gets Sebi nod for debt fund

Srei Infrastructure on Friday said that it has received the Certificate of Registration from Sebi for its infrastructure debt fund. "We are delighted to receive the approval for mutual fund. Infrastructure Debt Fund (IDF) via the mutual fund route opens up long-term funding options for the infrastructure sector, which is the need of the hour, Srei Infrastructure Finance CMD Hemant Kanoria said in a statement. The company, however, did not mention the expected date of launch of the fund and the amount it is going to raise. Institutions like pension funds, insurance companies and provident funds, which have long-term liabilities, require investment opportunities with matching cash flows. IDF via the mutual fund route would make a good investment vehicle for these institutions," said Srei Mutual Fund Asset Management CEO Mohit Sachdev.

Sebi bars 2 entities from securities market for 1 yr

Sebi has barred two entities from the securities market for a year after an investigation into unfair trading in the shares of four companies. As per an order, dated November 15 and released on Friday, Sebi said that Flex Trade and Rashmi Jain are being restrained from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner for a period of one year. However, Sebi said it has discontinued its earlier interim directions restraining Rashmi Jains husband, Sudhir Jain, and another entity, Beejay Investment & Financial Consultants, from the securities market in the same matter. Sebi said that Rashmi Jain and Flex Tube have been found to be involved in circular trading of shares of four companies Temptation Foods, Confidence Petroleum India, Cals Refineries and Shree Precoated Steels (currently known as Ajmera Realty & Infra India).

Registration certificate of Knack Corporate suspended

Sebi has suspended the registration certificate of Knack Corporate Services for three months for alleged lapses in its functioning as a Registrar to an Issue (RTI) and Share Transfer Agent (STA). Sebi said Knack Corporate Services was guilty of major non-compliances regarding the rights issue of Ram Kaashyap Investments as well. RTIs/STAs work as documentation and payment processing agencies. In its order dated November 8, Sebi said that it is suspending the certificate of registration "granted to Knack Corporate Services, as a registrar to an issue and share transfer agent, for a period of three months. Sebi directed Knack Corporate Services to write to all its clients to make alternate arrangements for their registry and share transfer work during the suspension period. Moreover, the entity would have to hand over all the physical and the demat records of shareholders of its clients along with the database, after certifying their correctness, to the RTI and STA arranged by respective clients, under intimation to Sebi.