had first passed an order against Saradha in April 2013 after the fraud, committed through a massive Ponzi scheme, was detected.
has sought help from its US counterpart SEC into an alleged insider trading case involving foreign hedge fund, Factorial.
spokesman did not comment on market participants' complaints that it was slow to approve IPOs.
also prohibited them from buying, selling or otherwise dealing in securities, directly or indirectly, or in any other manner.
An intriguing aspect of the case is the absence of a clamor for return of funds from the holders of bonds that SEBI
had earlier cleared the deal with a caveat that if another regulator says the deal involves a change in control they will reopen the case, the source told Reuters.
This is yet another example of SEBI
over reaching itself in its attempts to control the securities markets in India whilst working to a concealed agenda.
The easing comes after SEBI
relaxed rules for corporate debt purchase for FIIs, allowing them to freely buy up to 90% of the $51bn limit.
Stock Market and Insurance regulators SEBI
and IRDA were at loggerheads over the jurisdiction of hybrid insurance products like ULIPs with both claiming their authority over these popular schemes.
We are saying that we are fast-tracking the system of registration," Sebi
chairman M Damodaran said after its board approved the new regulations.
To handle data growth and build a tighter fraud surveillance and investigation platform, SEBI
sought a robust warehouse, high-end analytics, and better predictive modeling and text mining.
As late as November, months after PACL was put under investigation and barred by regulators, local media reported that SEBI
told the Corporate Affairs Ministry it was still raising funds from depositors.