Sebi order on NSDL in January

On Tuesday, the Sebi board heard NSDL. Sebi chairman C.B. Bhave stayed away from the meeting to avoid any conflict of interest as he was heading NSDL at the time of the scam. A Sebi board member told Mint the hearing is over and the members will have one meeting sometime in January before passing the order.

Earlier, a three-member committee found NSDL guilty of failing to carry out its duties by not taking take appropriate action when thousands of demat accounts were opened for cornering shares meant for retail subscription in initial public offerings during the year 2005-06.

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR

Anirudh Laskar

Anirudh reports on significant corporate matters including large mergers and acquisitions, India's emerging e-commerce sector and regulatory issues in the corporate and financial services industry. Over the past 17 years, he has covered many beats including banking, NBFCs, aviation, automobile, insurance, markets, SEBI, IRDAI, mutual funds, investment banking, private equity, deals, and conglomerates.

Read more from this author