Sebi has extended the ban on Farm Tech Silo LLP, known as Growpital, and related entities from the securities markets pending a probe into unauthorized investment schemes. However, it has unfrozen the bank accounts of Growpital’s directors.
Sebi’s investigation revealed multiple LLPs associated with Growpital and mobilization of over ₹184 crore, indicating potential investor threat. The ban aims to prevent misuse of funds and protect investors, as the investigation continues to uncover additional details.
Shares of BSE dropped 18% today after Sebi instructed the exchange to pay regulatory fees based on the notional value of its options contracts rather than the premium value. This change is expected to significantly increase BSE’s regulatory fee payment, leading investors to sell off the stock.
BSE’s shares traded at Rs 2,682.70 on the NSE, marking the biggest single-day drop since listing. Trading volumes surged, with 34 lakh shares changing hands compared to the one-month daily average of 14 lakh shares.
The directive requires BSE to pay fees within a month, including for past periods, with 15% interest per annum on unpaid amounts.
Banks’ deposit growth has picked up after trailing advances in previous quarters, as per analysis of top private sector banks’ March 2024 results. However, this growth led to higher interest outgo, squeezing net interest margins (NIMs) year-on-year.
NIMs for several banks contracted, with ICICI Bank, Axis Bank, and Yes Bank seeing declines of 20-50 basis points. Deposit growth is crucial for banks in FY25 to support credit expansion.
The Confederation of Indian Industry (CII) has introduced a corporate governance charter specifically designed for startups. It offers tailored suggestions and guidelines to enhance governance practices, structured across four key stages: inception, progression, growth, and going public.
The charter includes an online self-evaluative governance scorecard to measure progress, addressing concerns raised by startups like Byju’s, BharatPe, and others regarding governance standards. Kunal Bahl, chairman of CII National Startup Council, highlighted that while startups thrive on innovation, robust corporate governance is essential for quality decision-making and long-term strategic thinking.
Brookfield Asset Management, a top global investor, plans to invest over $10 billion in India’s real estate sector in the next 3-5 years, doubling its current assets. With a focus on steady expansion, they aim to diversify into housing, industrial, and retail sectors, emphasizing the importance of rental housing for affordability. The strategy includes collaborative ventures and partnerships for future growth, as seen in their major investments in India’s hospitality sector, including The Leela hotel portfolio.
