SEBI has shut the exit door to two FIIs holding shares in Essar Group firm India Securities. SEBI has told Essar Capital, the acquirer, not to accept the shares tendered by the FIIs till further instructions. The two FIIs together hold 19% in India Securities. They bought into India Securities through a preferential allotment of compulsorily convertible preference shares (CCPS) in March 2010 which were later converted into equity shares.
The Public Gambling Act, 1867 also known as the "Gambling Act" is the primary law which governs gambling in India. However, the state legislatures, under the Constitution of India, are currentl More
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