Sebi, FMC a merged entity

Mumbai, Sept. 27: In the first ever merger of two regulators, over 60-year-old Forward Markets Commission (FMC) will merge on Monday with market watchdog Sebi to create a unified regulatory body. Sebi was set up in 1988 as a non-statutory body for regulating the securities market. It became an autonomous body in 1992 with fully independent powers. FMC has been regulating commodities market since 1953, but lack of powers has led to wild fluctuations and alleged irregularities remaining untamed in this market segment.

MCFL board

New Delhi, Sept. 27: Zuari Group is set to gain a representation on the MCFL board after gaining a controlling stake in Vijay Mallya-led UB Group promoted fertiliser firm. In May, the group had acquired an additional 36.56 per cent stake in MCFL and became a majority shareholder with a 53.03 per cent stake.

FDI proposals

New Delhi, Sept. 27: Inter-ministerial body FIPB on September 29 will take up 31 FDI proposals, including that of Cipla, Aditya Birla Nuvo and HDFC Capital Advisors.

Amtek Auto

Mumbai, Sept. 27: Lenders of Amtek Auto have agreed to give additional funds to the troubled auto parts maker but have asked the promoters to bring in some equity first. "A corrective action plan is being worked out," said a senior official from a state-run bank.

Cash mop-up

Mumbai, Sept. 27: India Inc has raised over $750.76 million from overseas markets in August, up about 48 per cent from $507.40 million a year ago. The figure stood at over $2.14 billion in the previous month.