Experts

Here’s what experts have to say on Sebi’s list of shell companies

Aug 08, 2017 09:33 AM IST | Source: CNBC-TV18

Market regulator Securities and Exchange Board of India (Sebi) releases names of 331 suspected shell companies as identified by the corporate affairs ministry. There are some widely traded companies in this list.

Market regulator Securities and Exchange Board of India (Sebi) releases names of 331 suspected shell companies as identified by the corporate affairs ministry. There are some widely traded companies in this list.

In an interview to CNBC-TV18, Deena Mehta, MD of Asit C Mehta Investments and Prithvi Haldea, MD of Prime Database analysed the order that has come in.

Mehta said better homework needs to be done by Sebi with regards to identifying shell companies.

According to her, Sebi need to be very sure before curtailing trading of identified shell companies.

Prithvi Haldea of Prime Database said a lot of cleaning-up needs to be done.

He is sure that the corporate affairs ministry has enough evidence to initiate proceeding.

According to him Sebi and corporate affairs ministry are giving signals to the market about suspect practices.

Also watch accompanying video of Justice MB Shah, Former Supreme Court Judge.

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