Sebi takes up 116 cases to probe violation of securities law during FY17-18

Regulator Sebi has taken up as many as 116 cases to probe alleged violation of securities law including market manipulation and price rigging, the government said on Friday.

The cases were related to market manipulation, price rigging, insider trading, takeover violations and illegal collective investment schemes, Minister of State for Finance Pon Radhakrishnan said in a written reply to the Lok Sabha.

During 2017-18 (till December last year), as many as 116 cases were taken up for investigation compared to 256 in the preceding financial year, 179 in 2015-16 and 135 in 2014-15, the minister noted.

Of these cases, a total of 36 matters related to market manipulation and price rigging, illegal CIS (14) and insider trading (9).

In a separate reply, Minister of State for Corporate Affairs P P Chaudhary said that Sebi has mandated listed companies to appoint at least one women director.

As on March 2017, 1,664 out of 1,728 active companies listed on NSE and 3,945 out of 4,107 listed on BSE have appointed women directors, he added.