After a thorough investigation,
Securities and Exchange Board of India (SEBI)told the Calcutta High Court that
Alchemist Group chairman K D Singh is trying to siphon off money which was deposited by innocent investors to tax havens, including for purchasing strip clubs and vacation homes abroad.
On Wednesday, August 1st, 2018 SEBI approached division bench of
Justice Aniruddha Bose and Justice Joymalyo Bagchi with a plea that court should direct competent agencies to investigate the matter. SEBI claimed that K D Singh
, a businessman had a deal with a Greek business owner where he created a new entity in Cyprus and 10 million euro has been kept in an escrow account till the Greek company's ownership is transferred to Cyprus.
The Application which was submitted by Securities and Exchange Board of India said "
K D Singh is in the process of siphoning off around USD 100 million, earned by way of duping the innocent public in the guise of fake deposit scheme, in buying companies abroad via tax havens," and prayed for an order by the bench directing competent agencies to recover the money from Singh and hand over to a one-man committee as directed by the high court on December 21, 2017. The bench has posted the matter for further hearing on August 6.
SEBI Approves Live Testing Of New Fintech Products
Executive
Feb 18, 2020
Lawstreet News Network
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Securities and Exchange Board of India (SEBI) - the Stock market regulator of India, on 17th February, 2020 (Monday) has approved the live testing of the newly launched fintech products, services and business models made available by the market players to help in the facilitation of the use of latest upcoming innovations in capital markets. All registered entities enlisted under SEBI will be eligible to participate in the live testing simulation where the basis of new product...
Job Post: Assistant Manager, Legal & General Stream @ Securities and Exchange Board of India (SEBI) [Apply by October 7]
Jobs
Sep 17, 2018
Editor : Shreya Bansal
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Securities & Exchange Board of India (SEBI) invites applications from Indian citizens for the post of Officer Grade A (Assistant Manager) Legal & General Stream.Total Vacancies18 (UR: 12, OBC: 4, ST: 2) (under Law category)Note: Law Graduates may also apply under the general category for which there are 80 Vacancies.Educational QualificationBachelor’s Degree in LawPayThe pay scale of officers in Grade A is Rs. 28150-1550(4)-34350-1750(7)-46600-EB-1750(4)-53600-2000(1)-55600...
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