Securities and Exchange Board of India chairman D R Mehta today pitched hard for giving the capital market regulator powers parallel to the income-tax department including plea-bargaining, impounding documents and disgorging ill-gotten profits from companies which indulge in stock market irregularities.
Mehta was speaking at the India Economic Summit organised by CII. Later in the day, he met senior finance ministry officials including C M Vasudev, secretary, economic affairs, to finalise the amendments to the Securities Contracts Regulation Act. The amendments to arm Sebi with more powers are, however, not likely to be passed during the ongoing winter session of Parliament.
The Sebi chairman came down heavily against those who charged him with delaying the introduction of rolling settlement in the Indian markets.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app