Sebi suspends BSE broker-directors
Mumbai: The Securities and Exchange Board of India today suspended all the broker-directors of the Bombay Stock Exchange. Mr. DR Mehta, chairman of Sebi has said that following the decision the administration of the exchange will now be in the hands of Mr. A N Joshi, executive director, BSE and other public nominees on the board.

The Sebi’s announcement follows allegations that some broker-directors used their position to access privileged information, which figured in subsequent insider trading and caused a sharp market decline. The seven broker-directors suspended by Sebi included Mr. Rathi and Mrs. Deena A Mehta, the vice-president of the board who was appointed to serve as interim board president, after Rathi resigned last Thursday.
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NPC to issue bonds worth Rs 200 crore
Mumbai: The government-owned Nuclear Power Corporation (NPC) will make two separate private placements of secured non-convertible bonds to raise at least Rs 200 crore ($42.96 million). Both issues will be priced through book building.

The first issue, is a seven-year infrastructure bond with tax benefits under section 10 (23) G of the Income Tax Act and a five-year put and call option offered at a book-building range of 9.75-10.0 percent. It has an issue size of Rs 50 crore with an unspecified greenshoe option.

The second issue, a five-year taxable bond with staggered redemption at the end of the third, fourth and fifth years in the ratio 30, 35 and 35 percent has a yield band of 10.25-10.75 percent. It has an issue size of Rs 150 crore with an unspecified greenshoe option. Both issues have a AAA rating by Credit Rating Information Services of India (Crisil).
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