India’s Ministry of Law and Justice has twice refused to formally serve summons issued by the United States Securities and Exchange Commission (SEC) on Adani Group chairman Gautam Adani and his nephew Sagar Adani. Court filings in New York reveal that the Ministry cited missing ink signatures, absent official seals,…
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SEBI Bars Mutual Funds from Pre-IPO Investments
New Delhi, October 24: The Securities and Exchange Board of India (SEBI) has barred mutual fund schemes from investing in pre-IPO placements of equity shares and related instruments, restricting them to participate only in the Anchor Investor portion or the public issue of an Initial Public Offering (IPO). The directive,…