INDIA BUSINESS UPDATE - Sebi Probes Insider Trading In Housing Loan Racket; Sensex Sheds 181 Pts; Demolition Threat On Lavasa City Bldgs

Friday, Nov 26, 2010 SPECIAL LEAD   Click here for India Business Update Mobile Version SEBI PROBES INSIDER TRADING IN HSG LOAN RACKET   Market watchdog Sebi has initiated a probe into possible front-running and insider trading in shares of over two dozen companies, including some blue chips. The initial findings, indicate towards a large-scale front-running deals or shares being purchased or sold in these companies on the basis of prior knowledge about investment decisions being made by large institutional investors. The probe would encompass large dealings and any irregular spurt in volumes or prices of shares of all the companies where these institutional investors had bought or sold shares over the past two years. read more     LEAD STORIES SENSEX SHEDS 181 PTS ON HOUSING LOAN RACKET   Sensex slumped as the housing loan racket continued to hammer realty stocks. It settled at 19,136.61, Nifty tanked 47.80 points to finish at 5,751.95. read more DEMOLITION THREAT ON LAVASA CITY BLDGS   The Environment Ministry has issued a showcause notice to Lavasa Corporation for carrying out construction activities without its approval. read more ASIAN GAMES DAY 14: INDIA MEDAL TALLY AT 64   India continued their golden run as star pugilist Vijender Singh punched his way to seal the 14th gold. read more TOP STORIES • 2G scam: Logjam in Parliament for 11th day   • CBI probe into 21 cos in housing loan racket   • Housing loan racket a bribery case, not fraud: CBI   • Vodafone gets SC nod to wire-transfer Rs 2,500 cr   • M&M to buy 5.5% of BT stake in Tech Mahindra   • Rupee ends at 10-week low of 45.84/$   • India to auction foreign debt limits on Dec 2   • SC notice to K'taka govt on iron ore export ban   • No directions to lenders to cut real estate exp: FinMin   • MOIL IPO subscribed 0.76 times on Day 1   • Shipping Corp sets FPO price band at Rs 135-140/sh   • Claris Life cuts IPO price band, extends issue close   • ChrysCapital buys 12% stake in Pratibha for Rs 100 cr   • Steel Strips in talks with Korean co for stake sale   • Showcause notice issue to Jindal's Orissa plant   • Kerala ports open to private invst upto Rs 4,000 cr   • I-T dept inks Rs 50 cr deal with BSNL, gets Blackberry   • West Bengal worst among the 5-highly indebted states   • Nitish Kumar sworn in as 32nd CM of Bihar   • China issues warning ahead of US-S Korea drills   more stories TOP VIDEOS Real Estate Is Bad Corporate Governance And All The Corruption In India Happens In That Sector: Samir Arora, Fund Manager, Helios Capital   No Loans Syndicated From Money Matters: A Subba Rao, Group CFO, GMR Infrastructure   Emerging Markets To See $450 Bn In IPOs, FPOs This Year: Mark Mobius, MD, Templeton Asset Management  < /a> For hassle-free subscription to Forbes India just give us your contact details and our customer care agent will get in touch with you. Mobile:  Email:  AT A GLANCE BSE 19136.61 -181.55 NSE 5751.95 -47.8 TURNOVER Rs. 168,630 cr BSE CASH Rs. 6,450 cr NSE CASH Rs. 22,673 cr NSE F&O Rs. 139,507 cr BULLION GOLD 20245 -120 SILVER 40861 -931 CRUDE WTI 83.02 -0.84 BRENT 3901.76 -22.72 FOREX $ / Re 45.84 +0.32 £ / Re 71.647 -0.2 € / Re 60.598 -0.27 EVENTS 29 November National Conference On Mergers & Acquisitions & Joint Venture Alliances, The Oberoi, New Delhi 30 November-1 December 5th CII ITC Sustainability Awards 2010, The Grand, New Delhi 30 November-2 December 8th Conference On Successful EPC Contracting In India, ITC Grand Central, Mumbai 1 December India Airports Conference 2010, The Taj Mahal, New Delhi 1-2 December Media & Entertainment Business Conclave 2010, Hyderabad 2-5 December Global Energy 2010, Palace Ground, Bengaluru 3-5 December India International Travel Mart, Peoples Plaza, Hyderabad 3-6 December Agro Tech 2010, Parade Ground, Chandigarh   EXPERT VIEWS "Some developers will bring down the prices and sell... the unsold stock with developers is huge across the country. In this scenario, prices cannot go up definitely." Deepak Parekh Chairman, HDFC "I would like to clarify as some channels had reported it (racket) as a fraud. It is not a fraud case as on today. Later, investigation may reveal that but as on today it is primarily a case of bribery and corruption." Balwinder Singh CBI Special Director "To the best of my knowledge we have not suggested anything like this (recalling corporate loans)." R Gopalan Banking Secretary WATCH OUT   Sultans of South   This week we travel to Hyderabad to talk business with India's molecule millionaire, Dr Anji Reddy and the men who run his business GV Prasad and Satish Reddy. While Dr Reddy plans to be hands-on and bring back a discovery-led model for DRL; the next generation is gearing to handover to a professional CEO. But this "family in business" is very clear: they have no plans to sell out. 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