Holding Physical Shares? They Will Become Worthless Soon

The market regulator, Securities and Exchange Board of India (SEBI) has made it mandatory for all classes of investors that, except in case of transmission or transposition, requests for transfer of physical shares will be accepted only if the securities are held in demat form. SEBI has given 5 December 2018 as the deadline for all shareholders to convert physically held securities into...

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    Crisil downgrades Dewan Housing Finance commercial papers worth Rs 850 cr
    Ratings agency Crisil has downgraded the rating of Dewan Housing Finance Corporation's (DHFL) commercial papers worth Rs 850 crore to "A4+" due to a more-than-expected reduction in the company's liquidity.
     
    The previous rating of the company was "A3+", a statement by the rating agency said on Monday. 
     
    The rating continues on "rating watch with negative implications", it added. 
     
    "The downgrade is driven by more-than-expected reduction in the company's liquidity because of further delays in fund raising from sell down of project finance loans and lower inflows from securitisation of non-housing loans," it said. 
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    IL&FS Mess: Where Is IFIN’s Ex-CEO Ramesh C Bawa?
    Even as the Supreme Court has dismissed a petition filed by Ramesh C Bawa, former chief executive officer (CEO) of IL&FS Financial Services (IFIN), the man himself appears to have given investigation agencies like the Serious Fraud Investigation Office (SFIO) and the Enforcement Directorate (ED) the slip.
     
    According to sources, Mr Bawa has stopped using his old mobile number and is not traceable. Sources close to Infrastructure Leasing & Financial Services (IL&FS) told us that he had changed his SIM card. 
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