Sebi to finalise crowd-funding norms in 'a few months'

Capital markets regulator Sebi will put in place norms to help entrepreneurs raise funds through crowd-funding in a few months, Sebi chairman UK Sinha said today.
"We have still not been able to finalise it because there were a lot of divergent views," Sinha told reporters here.
"We hope to finalise it in a couple of months."
Sinha was speaking on the sidelines of the inauguration of private lender Bandhan bank's 600th branch in Mumbai.
Sebi had constituted a committee headed by Infosys co-founder N R Narayana Murthy to suggest ways for raising funds through crowd-funding.
Earlier this month, Sinha had said the committee was likely to submit its report in a month. The regulator had earlier come out with a discussion paper on crowd-funding norms.

(REOPEN DCM 23)

In a separate order, Sebi has ordered attachment of three properties of Bharat Krishi samridhi Industries to recover pending dues.
The company had illegally raised money from the public without complying with the public issue norms, as per Sebi.
The regulator had earlier attached demat and bank accounts. The recovery proceeding was initiated after the company and its directors failed to comply with Sebi's directive of refunding investors' money along with interest.