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Sebi may get greater powers to check money-pooling frauds

Sebi may get greater powers to check money-pooling frauds

Times of India
NEW DELHI: Market regulator Sebi may get greater powers to check money-pooling frauds by various entities across the country, as the government is considering a major overhaul of regulations governing such schemes.

The proposed critical amendments to the securities laws, would also involve the capital markets regulator getting direct powers for attachment of properties, search and seizure of assets and powers to seek information from any entity in relation to its probes against erring persons and entities.

The amendments could be made to a host of regulations, including the Sebi Act, the Securities Contracts (Regulation) Act and the Depositories Act, a senior official said.

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