consent order

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Sebi ordinance gives regulator more teeth

The government announced on July 18 that it had issued an ordinance to give Sebi more powers against illegal collective investment schemes and to curb insider trading. The release went on to say that

A. Sebi would have powers to regulate any collective investment schemes with a corpus of Rs 100 crore or more,

B. Sebi could seek information, including call records, from anybody in connection with its investigations, and lastly

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HDFC Bank settles with Sebi in IPO case

Sebi has issued a consent order, accepting HDFC Bank’s application to settle the case filed against it in the IPO scam. It has paid Rs 1 lakh as part of the consent procedure. The Sebi order says that it had launched an investigation into share dealings in shares issued through IPOs during 2003-05.
 

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