No scrutiny by Sebi in shares trading of Jai Corp: Govt

The government today said that market regulator Securities and Exchange Board of India (Sebi) has not launched any investigation in the trading of scrips of Jai Corp, which is engaged in the business of developing SEZ, infrastructure and real estate.

"...During the period of last two years, no formal investigation has been initiated by Sebi into the dealing in the shares of Jai Corp as preliminary analysis did not reveal any adverse observations that required further examination," Minister of State for Finance Namo Narain Meena informed the Lower House.

He further said Sebi and the exchanges have put in place surveillance systems to monitor trading activity of listed companies.

During the year 2007-08 and 2008-09, Sebi had completed investigations in 169 and 116 cases, respectively, for various types of irregularities that include market manipulation, price rigging, insider trading and others.

"Sebi remains vigilant at all times to detect any malpractices in the market and wherever warranted, takes actions against the entities violating the provision of Sebi Act, Rules and Regulations," he added.