Regulating unlisted firms: One too many for Sebi?

Experts say the market regulator doesn't have the capacity to take on more responsibilities

The Securities and Exchange Board of India (Sebi) seems to be emerging as the poster boy for effective enforcement in matters related to capital markets, with the government and courts increasingly relying on the regulator to look into several existing grey areas. 

The abuzz in the streets is that the government will soon amend the Companies Act, to give Sebi powers to regulate an unlisted company in the cases where it is a subsidiary of a listed player. The possible move comes in the wake of the Uday Kotak-headed corporate governance committee’s recommendations.

This is not the first time the markets regulator