 "Investors say Sebi has taken a very wide view without understanding the nuances.")
A key finance ministry official said the markets regulator acted in haste by not giving 331 companies a chance to tell their side of story before placing a trading ban on these on the grounds that these might be shell companies.
He said quite a few of these might not be entities of this type. "I think it was unfair to not give these companies a chance to explain themselves. Sebi (Securities and Exchange Board of India) acted in haste," he said. "Bankruptcy and insolvency proceedings may have been filed against them but they are not necessarily shell companies."
In
