NEW DELHI, Dec 20 (PTI): In its biggest crackdown on suspected tax
evasion and laundering of black money via stock-trading platforms, the
Securities and Exchange Board of India (Sebi0 on Friday barred 260,
including individuals and companies, from the securities markets.
While it will further probe the cases, it has decided to refer the matter to the income-tax department, the enforcement directorate, and the financial intelligence unit, among others.
Through two separate interim orders, Sebi said that these 260 entities would be restrained from accessing the securities market and from buying, selling or dealing in securities, either directly or indirectly, with immediate effect till further directions.
It has also asked stock exchanges and the depositories to ensure that all its directions are strictly enforced.
While it will further probe the cases, it has decided to refer the matter to the income-tax department, the enforcement directorate, and the financial intelligence unit, among others.
Through two separate interim orders, Sebi said that these 260 entities would be restrained from accessing the securities market and from buying, selling or dealing in securities, either directly or indirectly, with immediate effect till further directions.
It has also asked stock exchanges and the depositories to ensure that all its directions are strictly enforced.
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