20 years ago today

Twenty Years Ago Today - July 14

July 15 | Updated on July 14, 2021

SEBI to have stronger board, more investigative powers

The Government has finalised the amendments to the SEBI Act, featuring strengthening of the SEBI board and linking the monetary penalties to be imposed for market offences to the amount involved in such offences. The proposals which have been approved by the Finance Minister, Mr Yashwant Sinha, and the Law Ministry, include increasing the number of fulltime members on the board to four, excluding the Chairman, and enhancing the capital markets regulator's investigative powers. The penalties proposed now for capital market offences is three times the amount involved — in terms of the money lost by investors.

Package deal for investors eludes UTI

It was an anti-climax for anxious investors and mediapersons who had gathered at the UTI office here today expecting the announcement of a package to bail out US-64 unitholders. The board of trustees of Unit Trust of India which met for the fourth time over the week, along with the consultative group formed earlier, however, could not find any definite solution to the US-64 imbroglio.

Musharraf begins trip with peace prayer

The Pakistani President, Gen Pervez Musharraf, got a ceremonial welcome in the land of Mahatma Gandhi and began his historic visit on Saturday with a tribute to the man who died deeply disappointed by the creation of a country the military strongman now leads. The general visited Raj Ghat, dressed nattily in a cream-coloured sherwani (long coat) and white pyjamas, and placed a wreath of red and white flowers at the shrine. “Never has the requirement of his (Gandhi's) ideals been more keenly felt than today, especially in the context of Pakistan-India relations,” Gen Musharraf wrote in the visitor’s book.

Published on July 14, 2021

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