Informist New Delhi

The Securities and Exchange Board of India has extended the deadline for foreign portfolio investors to adhere to new stringent rules and disclosures on the issue of overseas derivatives instruments to Nov. 17 from Saturday, it said in a circular Friday. The market regulator had issued the circular tightening the rules for FPIs on Dec. 17 and had given five months for compliance.

The market regulator said it had received representations from FPIs and other market participants which apparently sought more time to comply with the new rules. SEBI said it had decided to extend the deadline so that there can be a "smooth implementation" of the changes made in the Dec. 17 circular. 

A key change by SEBI was in getting a FPI wanting to issue overseas derivatives instruments to do so only through separate dedicated FPI registration with no proprietary investments. Foreign portfolio investors were prohibited from having derivatives as the underlying or reference in any overseas derivatives instruments issued by them.

Sebi asks investors of Karvy to file claims as June 2 deadline nears

Sebi on Friday asked investors of Karvy Stock Broking Ltd (KSBL), which has defaulted on payments, to file their claims before June 2 deadline. KSBL was declared a defaulter by the NSE on November 23, 2020. Following this, investors were invited to submit claims against the defaulting broker, with the final date for submission set as June 2, 2025.

Highlighting the urgency, Sebi, in its statement, said, "As the deadline for submitting investors' claims against default broker Karvy Stock Broking Ltd is approaching shortly, investors are advised to take note of the above deadline and are urged to file their claims before the deadline, if not lodged already.”