SEBI bars HDFC AMC exec, three others from market

The Securities and Exchange Board of India (Sebi) today barred Nilesh Kapadia, Assistant Vice President – Equities, HDFC Mutual Fund, from participating in the securities markets for irregularities in trading. Kapadia has been with HDFC MF for the last 10 years. The regulator also asked Kapadia and HDFC MF to jointly deposit Rs 2.38 crore — losses estimated due to trading irregularities — to the Trustees of HDFC Mutual Fund within a month.

According to Sebi, the investigation revealed 38 instances over 24 days spread across the BSE and NSE during April-July 2007. In these instances, three individuals — Rajiv Ramniklal Sanghvi, Chandrakant Mehta and Dipti Paras Mehta — were placing buy/sell orders ahead of substantial buy/sell orders of HDFC AMC. Known as front-running, the three squared off their trades within the same trading session, substantially against the orders of HDFC AMC.

Source: http://www.indianexpress.com/news/SEBI-bars-HDFC-AMC-exec--three-others-from-market/635317

Tata Mutual Fund announces dividend under its scheme Tata Equity Opportunities Fund

Tata Mutual Fund has declared dividend under its scheme Tata Equity Opportunities Fund. The quantum of dividend decided for distribution will be Rs. 0.50 per unit on the face value of Rs. 10 per unit. The record date decided for declaration of dividend is 22nd June, 2010. Tata Equity Opportunities Fund is an open ended equity scheme with an investment objective to provide income distribution and medium to long term capital gains while at all times emphasizing the importance of capital appreciation. The scheme is managed by Mr. M Venugopal and benchmarked against BSE Sensex.

Source: http://finance.indiamart.com/cgi-bin/mutual_top_stories.cgi?news_headline=Tata+Mutual+Fund+announces+dividend+under+its+scheme+Tata+Equity+Opportunities+Fund+@MF031