'Shall fully cooperate with SEBI': JM Financial on investigation into public debt issue

Posted on: 08 Mar, 03:25 AM

Key Points

JM Financial on Thursday said that it would fully cooperate with market regulator Securities and Exchange Board of India in its investigation into the public issue of debt securities..

Earlier this evening, Sebi imposed curbs on the parent company JM Financial from acting as the lead manager for any new debt public issue...

The Noticee (JMFL-MB) is barred from taking any new mandate for acting as a lead manager for any public issue of debt securities, Ashwani Bhatia, Whole Time Member, Sebi said in an interim ex parte order...

For any existing mandates, JMFL-MB can continue to act as a lead manager for public issue of debt securities for a period of 60 days from the date of order, he said...

The examination considered the role of three different businesses -- one of the parent company and merchant banker JM Financial Limited, wholly owned subsidiary and broker JM Financial Services (JMFSL) and subsidiary and a non-banking financial corporation (NBFC) JM Financial Products Limited (JMFPL) -- in a debt issue...

Full story at Business Today |

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