Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Sebi seeks greater powers to thwart financial fraud cases

PTI
Updated: March 24th, 2019, 15:24 IST
in Business
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: With an aim to thwart financial frauds, regulator Securities and Exchange Board of Indian (Sebi) has sought powers to conduct inspection of books of accounts of listed companies for contravention of any securities law and also to take direct action against the fraudsters.

Besides, Sebi has also proposed a heavy penalty for altering, destroying, mutilating, concealing or falsifying records and documents or other tangible objects with the intent to obstruct, impede or influence a legal investigation.

Also Read

Ashwini Vaishnaw

Indian electronics exports hit $40 billion: Union Minister Ashwini Vaishnaw

9 hours ago

How to Evaluate an NFO Before Investing: Tips for Smart Investors

10 hours ago

At present, Sebi is empowered to conduct such inspections in case of violations relating to insider trading and fraudulent or unfair trade practices.

However, the regulator has now asked the government that its power to undertake inspection of books at listed companies should be for contravention of any securities laws without limiting it to violations relating to one or two regulations, a senior official said. In its new proposal, the body has asked the government to broaden this power to all cases where the regulator suspects a violation of any securities law.

Sebi has also proposed that any disgorgement order for recovery of illegal gains should be applicable to all joint actors, without making it conditional on the gains or averted losses of the violators.

In another amendment to the ‘Sebi Act’, the regulator has sought to replace the term ‘material or non-public information’ with ‘unpublished price sensitive information’ to bring in greater consistency of legal phrases used for insider trading laws.

Also, the penalty for insider trading violations is currently imposed on those dealing in securities ‘on the basis’ of material or non-public information, which the regulator has suggested changing to ‘while in possession’.

Regarding the additional penalty, Sebi is of the view that there is a need to create an obligation on an individual not to alter, destroy, mutilate, conceal or falsify the records to hamper investigation and therefore all such acts should be treated as ‘fraudulent’ and actionable under the securities laws.

Such acts would lead to a minimum penalty of Rs 5,00,000, which may extend to Rs 10 crore or three times the amount of profit made from such an act, whichever is higher.

Officials said the final decision on the proposed changes would be taken only after taking into account the views of the Finance Ministry and also of the Corporate Affairs Ministry in a few cases. While the Finance Ministry is already in agreement on some proposals, there are differences in case of a few others.

PTI

Tags: Finance MinistrySEBISecurities law
Share2TweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

slide 2 to 4 of 30
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Pratyasharani Ghibela

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
#MyPaperBagChallenge

Dibya Ranjan Das

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019

Archives

Select Month

    Editorial

    Indefinite Tenure

    Power of Continuity
    July 19, 2025

    There was a time when “superannuation” meant something. Now it’s just the date you pencil in until the next extension...

    Read more

    Use & Abuse

    Courtesy: Tech Crunch
    July 16, 2025

    Freedom of speech and expression is the soul of democracy and to rob an individual of that fundamental right is...

    Read more

    Trump Targets BRICS

    July 15, 2025

    US President Donald Trump is opening new theatres of his global tariff war. This appears to be a strategy he...

    Read more

    ECI & Aadhaar

    Election Commission of India
    July 14, 2025

    Many of the acts of omission and commission by the Election Commission of India (ECI) in the recent past have...

    Read more
    • Home
    • State
    • Metro
    • National
    • International
    • Business
    • Editorial
    • Opinion
    • Sports
    • About Us
    • Advertise
    • Contact Us
    • Jobs
    Developed By Ratna Technology

    © 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST

      • News in Odia
      • Orissa POST Epaper
      • Video
      • Home
      • Trending
      • Metro
      • State
      • Odisha Special
      • National
      • International
      • Sports
      • Business
      • Editorial
      • Entertainment
      • Horoscope
      • Careers
      • Feature
      • Today’s Pic
      • Opinion
      • Sci-Tech
      • About Us
      • Contact Us
      • Jobs

      © 2024 All rights Reserved by OrissaPOST