Curb on Sebis powers sought

The bill,which is awaiting Parliamentary clearance,has already been promulgated as an ordinance twice by the President and is likely to be promulgated a third time as the standing committee failed to submit its report to the parliament in the recently concluded winter session.

While the Standing Committee invited certain individuals and institutions to submit their opinion in November,the committee has not been able to finalise a final report.

A source close to the development told The Indian Express that the standing committee has been provided with opinions on various facets of the bill.

Concerns have been raised on the likelihood of misuse of the power of arrest that the bill seeks to provide to Sebi. It has been proposed that such power can be misused and therefore these should be available to the regulator only after all other means have been exhausted.