A look at the recent rulings which can affect you.
Print Edition: 01 May, 2010
Markets
The Delhi High Court has directed stock market regulator Sebi to conduct a probe against real estate giant DLF for alleged 'mis-statement' in its red herring prospectus while launching its IPO in 2007.
Sebi has made it mandatory for companies to list shares within 12 days of the closure of a public issue. This would be applicable to public issues opening on or after 1 May. With this, the number of days between the closing of a public issue and its listing has been reduced by 10 days, from the existing 22 days.
Banking
An RBI report on asset price monitoring system has recommended that a real estate index tracking rental and property price trends should be compiled and revised every quarter to gauge the asset price movement in the country.
Telecom
The Department of Telecom has said that number portability, which allows users to switch providers without changing their phone numbers, will be launched by 30 June. The facility was initially supposed to be implemented by 31 December 2009, in select circles. The deadline was later changed to 31 March for the country and has now been extended by three months.
Insurance
The Pension Fund Regulatory and Development Authority has instituted an independent, quarterly review of the seven pension funds for monitoring their performance and compliance to investment guidelines.
