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Oct 22, 2014
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Sebi to empanel administrators to look after refund process
To help it refund money to those duped by fraudsters, regulator Sebi has decided to appoint administrators to supervise the entire refund-payment process including identification of eligible investors and payment of their dues. This follows an earlier decision by Sebi to empanel third-party agencies to work as receivers for management and sale of assets attached through its regulatory orders for recovery of penalties and investors' money from defaulters.
Source -
http://economictimes.indiatimes.com
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