SpiceJet matter: Sebi disposes of adjudication proceedings against Axis Capital
SpiceJet matter: Sebi disposes of adjudication proceedings against Axis Capital
Sebi on Friday disposed of adjudication proceedings against Axis Capital, saying the alleged violation of the merchant banker norms could not be established against it with respect to foreign currency convertible bonds issuance by SpiceJet India Ltd back in 2010.
It was alleged that Axis Capital (formerly known as Enam Securities) had amended the Share Purchase Agreement (SPA) on October 5, 2010, after the issuance of observation letter by Sebi on October 4, 2O10.
The share purchase agreement was entered into between acquirers KAL Airways and Kalanithi Maran SpiceJet and four WLR entities WLL Recovery III Ltd, WLR Recovery IV/ ESC Ltd, India Asset Recovery Fund Ltd and WLR/GS India Ltd.
With the Securities and Exchange Board of India (Sebi) insisting on a physical agreement between financial advisors and investors, a move that will increase the costs of acquiring clients, these new-age firms providing algorithm-driven investment advice — known as robo advisory — are revisiting the viability of such platforms in their current form.
A new Sebi role is creating a snag for Robo Wealth Advisers
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With the Securities and Exchange Board of India (Sebi) insisting on a physical agreement between financial advisors and investors, a move that will increase the costs of acquiring clients, these new-age firms providing algorithm-driven investment advice known as robo advisory are revisiting the viability of such platforms in their current form.
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fintech firms, prompting some large firms to scrap plans to be in the business.
With the Securities and Exchange Board of India (Sebi) insisting on a physical agreement between financial advisors and investors, a move that will increase the costs of acquiring clients, these new-age firms providing algorithm-driven investment advice known as robo advisory are revisiting the viability of such platforms in their current form.