'Sebi carries out probes based on alerts, references'

Sebi has issued orders in two cases recently based on preliminary probes that looked into the nexus between promoters, investment bankers and foreign funds for suspected market manipulation, the government said today.
Minister of State for Finance Nirmala Sitharaman said that Sebi carries out investigation from time to time based on alerts and references from various stakeholders.
In recent times, Sebi has issued two orders -- in the matter of AstraZeneca Pharma India and L&T Finance Holdings, she noted.
"... (these were) based on preliminary investigation/ examination conducted by Sebi with regard to nexus between promoters of listed companies, investment bankers and foreign funds for suspected insider trading, market manipulation and misuse of participatory notes," she told the Lok Sabha in a written reply.

The two orders were passed in June.
The Minister was replying to a query on whether Sebi has intiatited investigation into a nexus between promoters of listed companies, investment bankers and foreign funds for suspected insider trading and market manipulation through misuse of participatory notes in recent times.
The Securities and Exchange Board of India (Sebi) carries out investigation from time to time based on alerts and references received from various stakeholders.
"Based on the findings of the investigation, actions such as debarment and/or monetary penalties are levied. Thus, investigation and the resultant enforcement actions is an ongoing process," Sitharaman said.