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Mar 30, 2015
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Sebi targets firms raising funds from large number of investors
The Securities and Exchange Board of India (Sebi) is coming down heavily on companies that are raising money from a large number of investors without obtaining regulatory approvals, much like two Sahara Group entities that fell afoul of the capital market watchdog. In less than a week’s time, Sebi has passed orders against as many as 11 companies, barring them from raising fresh funds, prohibiting their directors from dealing in the securities market and barring them from disposing of any assets until a final order is passed.
Source -
http://www.livemint.com
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