Joginder Singh Holds Talks With Sebi On Crb Case

The Securities and Exchange Board of India (Sebi) was conspicuous by its absence at seminar organised here by the Federation of Indian Chambers of Commerce and Industries (Ficci) to debate the redrafted Companies Bill. The reason: CBI chief Joginder Singh visited the Sebi office yesterday to discuss the CRB issue with the top brass.

While representatives from all leading associations made presentations on their view on the new Companies Bill, Sebi made its presence felt by the absence of a speaker at the seminar where a debate was to take place on giving more powers to the Sebi.

According to Sebi sources, the visit of the chief of the Central Bureau of Investigation was in connection with a meeting to be held with the Sebi top brass to take stock of the situation arising out of the CRB issue.

 

Commented a Sebi source: It was a general review of the situation. We were busy giving information to the CBI. However, the source quickly commented that it was a part of a routine meeting of the co-ordination panel set up to tackle the CRB issue.

When asked if Sebi officials were interrogated by the Central Bureau of Investigation chief, Sebi sources declined to make any comment on the issue. However, it was confirmed that Singh visited the office of the Securities and Exchange Board of India yesterday.

Market players opine that the Central Bureau of Investigation would have asked Sebi to give all inspection reports and details concerning the CRB.

Participants at the FICCI seminar expressed concern about the absence of the Sebi top brass in context of the debate on giving more powers to Sebi. When FICCI officials were contacted, they told Business Standard that Sebi had not intentionally kept out of the deliberations.