Sebi plans to introduce measures to address the issue of major announcements by listed companies so as to reduce the element of uncertainty in the market and to dis-incentivise misuse of unpublished price sensitive information by insiders.
Countering the regulator's objection that all payments are to be done through banking channel, Sahara Group said it must be recalled here that, till 4 years back, as per the statement of World Bank and Reserve Bank, 50-60 per cent of Indians did not have bank accounts.
According to Sebi recently various stakeholders and industry bodies have shown interest in listing on ITP. As a result , the regulator on Friday, proposed to rename ITP as Innovators Growth Platform (IGP).
The Securities and Exchange Board of India (Sebi) had conducted an investigation into the company's shares, listed on BSE, for the period April 2010 to January 2011 for possible violation of the regulatory norms.