‘For some companies, compliance is an unavoidable nuisance’
Former SEBI chief M Damodaran×
Former SEBI chief M Damodaran on how only a few companies view compliance as an investment
Be it the unearthing of the NSDL IPO scam, banning of hot money instruments linked to P-notes in derivatives, passing of first order in a front-running matter or returning money to investors under disgorgement concept, market regulator SEBI was a trend-setter during the tenure of Meleveetil Damodaran between 2005 and 2007. Damodaran is currently an observer of corporate governance practices. A recent report by Excellence Enablers, a think-tank founded by Damodaran, has highlighted how some of the top corporations are not complying with corporate governance norms. In an interview with Palak Shah, he shares his views on SEBI’s functioning and evolving corporate governance practices.
To set up International Bullion Exchange at GIFT CityMulti Commodity Exchange of India
(MCX) has signed a Memorandum of Understanding with National Stock Exchange of India
(NSE), India INX International Exchange (IFSC) (India INX), National Securities
Depository (NSDL) and Central Depository Services (India) (CDSL) for setting
up Market Infrastructure Institutions comprising of International Bullion Exchange, Clearing
Corporation and Depository at Gujarat International Financial Trade (GIFT) City in lines with the
Government of India objective to make India a price setter in bullion through GIFT International
Finance Service Centre (IFSC) and in accordance with the International Financial Services Centres
Authority (Bullion Exchange) Regulations, 2020 and other applicable laws.
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HDFC Securities said it is halting trading in the NSE cash segment and resumed the same in 15, saying trading in the segment has been restored. NSE said all its systems were working smoothly
March 01, 2021
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National Stock Exchange of India, Multi Commodity Exchange, BSE subsidiary India INX International Exchange, National Securities Depository and Central Depository Services have signed a Memorandum of Understanding for setting up Market Infrastructure Institutions comprising International Bullion Exchange, Clearing Corporation and Depository at Gujarat International Finance Tec-City (GIFT).
This move is in line with the government’s objective to make India a price-setter in bullion trade through GIFT International Finance Service Centre.
This is in accordance with the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020 and other applicable Laws.
Last October, the Centre had notified a Bullion Spot contract and Bullion Depository receipt under the IFSCA Act, 2019. Though NSE, MCX and BSE had expressed interest to set up a bullion exchange separately, the newly appointed regulator the International Financial Services Centre Au