Probe to find if Sharepro scam extended to demat
National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) will together probe Sharepro Services, a registrar and transfer agent (RTA), to find if the said diversion of dividends and shares from investors went as far as demat (dematerialised) shares.Meanwhile, market regulator Securities and Exchange Board of India (Sebi) is planning an audit of RTAs. Indian stock market astrology prediction
Last week, the regulator had barred Sharepro from the markets for the said diversion of unclaimed dividends and shares of investors. Most of these shares were in physical form."The unclaimed or unpaid dividends need to be monitored more closely," a Sebi official said. The regulator is also collecting feedback from other RTAs, depositories, and stock exchanges on ways to avoid a similar scam. Sensex Astrology
An official at a depository said, "Payment of dividends or physical shares isn't our domain. We are worried about any illegal activities in shares in demat form."According to the official, there were at least 75,000 demat transactions with Sharepro. "The probe will go into each of these requests to see if they were genuine." Share Market Astrology
Sector players out noted the said diversion of shares and dividends was mostly of inactive shareholders. "This typically happens with the dormant accounts, where there is no business activity for a long period. The regulator is increasing vigilance and inspections over dormant accounts, which have been and are likely to be misused by various intermediaries and even companies," said Prithvi Haldea, chairman of Prime Database. Nifty Trading Tips
On March 22 (Tuesday), the market regulator barred Sharepro and 15 of its officials, including managing director G R Rao, from the securities market.The regulator's preliminary findings showed that between 2005 and 2015, at least Rs 21 crore was transferred illegally to entities related to Indira Karkera, vice-president of Sharepro. Jackpot Stocks Trading Tips
Last week, the regulator had barred Sharepro from the markets for the said diversion of unclaimed dividends and shares of investors. Most of these shares were in physical form."The unclaimed or unpaid dividends need to be monitored more closely," a Sebi official said. The regulator is also collecting feedback from other RTAs, depositories, and stock exchanges on ways to avoid a similar scam. Sensex Astrology
An official at a depository said, "Payment of dividends or physical shares isn't our domain. We are worried about any illegal activities in shares in demat form."According to the official, there were at least 75,000 demat transactions with Sharepro. "The probe will go into each of these requests to see if they were genuine." Share Market Astrology
Sector players out noted the said diversion of shares and dividends was mostly of inactive shareholders. "This typically happens with the dormant accounts, where there is no business activity for a long period. The regulator is increasing vigilance and inspections over dormant accounts, which have been and are likely to be misused by various intermediaries and even companies," said Prithvi Haldea, chairman of Prime Database. Nifty Trading Tips
On March 22 (Tuesday), the market regulator barred Sharepro and 15 of its officials, including managing director G R Rao, from the securities market.The regulator's preliminary findings showed that between 2005 and 2015, at least Rs 21 crore was transferred illegally to entities related to Indira Karkera, vice-president of Sharepro. Jackpot Stocks Trading Tips
posted by Naresh Jain @ 00:42
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