A quick capsule of top news stories: SEBI looking into valuation methodology for startups, seeks details from VCs and PEs. Banks seek help from the government as the chip shortage hurts credit card issuances. In corporate news, Reliance Infra takes on Adani in a $1.7 billion arbitration over a 2017 contract. Health headlines from New York as the state declares a medical emergency as polio emerges in the city and four surrounding counties.

Roopsha Dasguupta  

This is the Daily Edit from the economic times. It's September 12. And this is your quick news capsule. Here is what we are tracking, kickstarting with the big et exclusive.

The capital market regulator, SEBI is taking a close look at how private equity houses PE and venture capital funds VCF value the startups and unicorns they bankroll most likely driven by complaints from investors and recent reports of opaque accounting of a few unicorns. The Securities and Exchange Board of India in a communication on September 6, asked a large number of funds to disclose their valuation practices, and share details, like the qualification of the valuer whether the value or hired is an associate of the fund, or its manager or sponsor, and if there was a significant change in the valuation methodology in the past three years, among other things, to persons aware of the matter told et banks have sought the government's intervention to address the shortage of semiconductor chips that has hit card issuance. People familiar with the matter told Economic Times that banks have collectively through the Indian banks association that I ve reached out to the government and have also suggested an investigation by the Competition Commission of India CCI into the practices of chip suppliers. bank executives say local vendors had raised prices despite existing supply contracts, and were colluding with each other to keep prices inflated.

Anil Ambani group's Reliance Infrastructure has filed an international arbitration claim of rupees 13,400 Crore against Adani transmission before the Mumbai center for international arbitration. The arbitration claim is over what is described as the breach of terms of its December 2017 share purchase agreement with Adani transmission related to the transfer of its Mumbai power distribution business. The Adani group in 2017 had acquired our infra then Reliance energies, Mumbai power business, including generation distribution and transmission in an 18,800 Crore deal. 

In Global News, New York has declared a state of emergency over polio as wastewater samples in New York City and four adjacent counties have tested positive for a polio virus that can cause paralysis. The US was declared polio free in 1979 due to a vaccine drive that started in 1955. But lately, the vaccine rates have fallen. New York's State Health Department said it aims to boost vaccination rates from the current state wide average of about 79 percentage to above 90 percentage. 

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