Sebi action against 1,365 persons/entities

Sebi took actions against 1,365 persons/entities/companies for carrying irregular transactions in 2011-12.

Listen to this article

00:00

1x 1.5x 1.8x

Capital market regulator Sebi took actions against 1,365 persons/entities/companies for carrying irregular transactions in 2011-12,Parliament was informed today.

“Complaints that are received from time to time regarding irregular transactions are examined as per extant Sebi guidelines and it takes civil and/or criminal actions as deemed necessary,” Minister of State for Finance Namo Narain Meena said in a written reply to Rajya Sabha.

The reply said the total number of persons,entities or companies against whom action was taken by SEBI in 2011-12 was 1,365.

Story continues below this ad

Irregular transactions in individual companies do not normally cause fluctuations in the share market. However,it may cause fluctuations in the shares of the affected company,he added.

“Fluctuations in market are not unusual. Market movements are the outcome of perceptions of the investors about the economy,the sector and companies,” Meena said.

Sebi took actions against 389 persons/entities/companies in FY11,932 in FY10,461 in FY09 and 629 in FY08.

Sebi observed abnormality in price movement of certain mid-cap stocks viz Pipavav Defence and Offshore Engineering Company Ltd,Parsvnath Developers,Tulip Telecom and Glodyne

Story continues below this ad

Technoserve Ltd on July 26,he said,adding accordingly Sebi restrained 19 entities from accessing the securities market.

These entities were further prohibited from buying,selling or dealing in securities in any manner till further directions,the Minister said.