Sebi issues Thomas Cook showcause notice
Mumbai: The countrys capital markets regulator, the Securities & Exchange Board of India (Sebi) has issued a show cause notice to C&N Touristic, the parent company of Thomas Cook India, for failing to make an open offer as per the Indian takevover code. It has asked the company why action should not be taken against it for violation of the takeover regulations.

This move comes in the wake of a recent special resolution seeking exemption from making such an open offer was defeated by the shareholders of Thomas Cook India at their meeting held on Sebi move comes in after a special resolution seeking an exemption from making the open offer was defeated at the TCIL shareholders meet on June 21.

Under the regulations, the company was required to make an announcement for the open offer within four working days following the special resolution. According to company sources, the delay in the company making the offer is because C&N Touristic, a privately held company, has been unable to furnish certain details about its financials to the Indian regulator.
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Sebi to look into insider trading by former Niskalp chief
Mumbai: Following complaints by the Mumbai-based National Association of Small Investors (NISA), the capital markets regulator, Securities and Exchanges Board of India (Sebi) has announced that it is planning to to probe the charges of insider trading against J E Talaulicar, chairman of Niskalp Investment & Trading, the erstwhile subsidiary of Tata Finance.

Mr. Talaulicar, who continues to be on the board of Tata Finance, allegedly along with his family members, sold one lakh shares of the company on March 30, 2001 at Rs 69 while the share price in the market was around Rs 35.
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