Great Eastern Energy Corp, a coal-bed methane explorer, has received market regulator Sebi's go-ahead to raise funds through an initial public offer (IPO). The company, in September last year, had filed its draft red-herring prospectus (DRHP) with Sebi for the proposed public offer. In a regulatory filing on London Stock Exchange, Great Eastern Energy Corp said it is pleased to announce that in relation to the DRHP of the company, the Sebi has vide its letter dated March 5 has given its final observation on the DRHP filed with Sebi.
SAT rejects Sebi plea to review Triveni order
The Securities Appellate Tribunal (SAT) has rejected Sebi's plea seeking a review of tribunal's order reducing the fine imposed on Triveni Management Consultancy Services for violating norms. On October 10, 2013, the tribunal had upheld Sebi's order against Triveni Management Consultancy Services but had reduced the penalty imposed on the entity to R50,000 from R1.50 lakh on the ground that Triveni's former CEO Manish Mathur had also been penalised by Sebi with R10 lakh. In its application, Sebi contended that the R10 lakh penalty imposed on Mathur was related to his fraudulent dealings in the scrip of Asian Star Company and the same was "not the subject matter" of appeal filed by Triveni with SAT.
Sebi issues summons in case of fraudulent dealings
Sebi summoned Reena Bansal, wife of a former sub-broker, for a personal appearance for her alleged involvement in defrauding investors through illicit dealings in shares of many bluechip firms. The Sebi has summoned Bansal to appear for a personal hearing at the market regulator's headquarters in Mumbai on March 26. The Sebi notice has been issued in relation to an interim order passed by Sebi against Bansal in April 2011 wherein the market regulator had sought reply from her on the case within a period of 15 days.