Can Sebi shed responsibilities and keep powers?

It cited illegal fund raising to acquire more powers; it doesn't want to monitor such schemes now

In the summer of 2013, when the heat was on the Securities and Exchange Board of India (Sebi) for not acting in time to prevent scams such as Saradha and Rose Valley, officials then cited lack of powers to search, seize and attach assets of these unscrupulous money pooling schemes.

Even at the Sebi's silver jubilee celebrations in May 2013, the issue of money pooling schemes and the powers needed figured prominently the chairman's speech (Click here to read the story).

Some of these powers were granted through the ordinance route. Even as Sebi was warming up, in May