Sebi ensures 'quality levels are high' in securities market

Extensive surveillance system along with a good investigation department is helping Sebi ensure high quality levels in the securities market, according to a senior official.
The Securities and Exchanges Board of India (Sebi) has put in place stringent measures to prevent manipulations in the market and protect the investor interests.
Sebi Whole Time Member Prashant Saran today said the regulator has got very extensive surveillance systems which are highly computerised and provide alerts about any unusual activities in the market.
There is also a good investigation department, he added.
"With these two tools, we are able to maintain high quality in the securities market," Saran said.

When asked whether Securities Appellate Tribunal (SAT) rejecting many orders passed by Sebi is becoming a trend, Saran replied in the negative.

(REOPENS DCM 68)
In a separate order, Sebi ordered Shubham Karoti Foods and its directors to refund in three months money collected from investors through unauthorised collective investment schemes (CIS).
A Sebi probe found that the company was running illegal CIS without obtaining regulatory approvals.
Besides barring the firm and its directors from the capital markets for four years, the company has also been restrained from collecting any money from the investors or carrying out any CIS.
In an order passed today, Sebi has directed the company and its directors to "wind up the existing CIS and refund the money collected under the schemes with returns which are due to its investors...Within a period of three months.