Quick view: Sebi bars Kolkata Weir from raising funds from public

Pulling the plug on alleged illegal mobilisation of funds by Kolkata Weir Industries, Sebi has barred the company, its promoters and directors from raising money by issuing securities. Citing the Sahara case and the Supreme Court?s order in this regard, Sebi said the R47.9 crore raised by Kolkata Weir (KWIL) from over 1 lakh investors amounted to a public offer and not a private placement.

MFs withdraw R24,000 crore from debt schemes in July

Mutual fund investors pulled out nearly R24,000 crore in debt schemes in July after investing a staggering R64,000 crore in the preceding month. The funds offloaded debt securities worth about R23,740 crore during July, according to the Sebi data. The debt market witnessed a net inflow of R2.7 crore in the first seven months of the year.

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NSEL crisis: Deora seeks PM intervention

With no end in sight to the National Spot Exchange (NSEL) crisis, minister of state for telecom & shipping Milind Deora has written to PM Manmohan Singh and sought his intervention.