Capital market regulator, the Securities and Exchange Board of India (Sebi), will soon be able to attach the properties of fraudsters, file application for winding up of market intermediaries under the Companies Act to recover money that investors have lost and will get powers similar to that of a civil court.
With these significant powers, which Sebi's board approved by recommending amendments to the Sebi Act and the Securities and Contract Regulation Act (SCRA), the market regulator will become stronger and more autonomous. There is also talk of doubling the amount of maximum penalty which Sebi can levy on wrong doers from the current Rs 50 crore.
SOURCE: BUSINESS STANDARD
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