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JPC asks SEBI to submit report on 200 scrips by next week
The Joint Parliamentary Committee (JPC), set up to probe the multi-crore securities muddle, has asked Securities and Exchange Board of India to submit its report on 200 scrips for price movements since 1999 by next week.
The Joint Parliamentary Committee (JPC), set up to probe the multi-crore securities muddle, has asked Securities and Exchange Board of India to submit its report on 200 scrips for price movements since 1999 by next week.
"JPC has sent queries on 800 scrips and after scrutiny we have zeroed in on 200 scrips for price movement and trade volume data beginning 1999", SEBI sources said. The trends may throw light on price manipulation, which would be placed before the parliamentary panel, they said.
Despite staff shortage, specially in the investigation wing, extra members have been put on the job to meet the JPC deadline, they said.
SEBI officials, including the chairman D R Mehta, have been summoned by the JPC for questioning from October 15 for the March 2, 2001, crash and the probe conducted by the market regulator till date. The JPC has also summoned five former executive directors (eds) of SEBI to depose before it in Delhi from October 8.
The executive director’s who had served SEBI during this period include L K Singhvi, who had prepared the first preliminary report which was presented to Union Finance Minister Yashwant Sinha.
Others to present themselves include Ashok Kacker, executive director-in-charge mutual funds, collective investment schemes, O P Gahrotra, an IAS officer from Maharashtra and Vijay Ranjan, they said. A fifth member M I Patel is, however, not available and is in us following his retirement.
Bureau Report
"JPC has sent queries on 800 scrips and after scrutiny we have zeroed in on 200 scrips for price movement and trade volume data beginning 1999", SEBI sources said. The trends may throw light on price manipulation, which would be placed before the parliamentary panel, they said.
Despite staff shortage, specially in the investigation wing, extra members have been put on the job to meet the JPC deadline, they said.
SEBI officials, including the chairman D R Mehta, have been summoned by the JPC for questioning from October 15 for the March 2, 2001, crash and the probe conducted by the market regulator till date. The JPC has also summoned five former executive directors (eds) of SEBI to depose before it in Delhi from October 8.
The executive director’s who had served SEBI during this period include L K Singhvi, who had prepared the first preliminary report which was presented to Union Finance Minister Yashwant Sinha.
Others to present themselves include Ashok Kacker, executive director-in-charge mutual funds, collective investment schemes, O P Gahrotra, an IAS officer from Maharashtra and Vijay Ranjan, they said. A fifth member M I Patel is, however, not available and is in us following his retirement.
Bureau Report