Published on Wed, Feb 03, 2010 at 19:46 | Source : Moneycontrol.com
Updated at Thu, Feb 04, 2010 at 12:57
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SEBI disposes of interim order against NSDL
Market regulator Securities and Exchange Board of India (SEBI) has disposed of the interim ex-parte order cum show-cause notice against National Securities Depository Ltd (NSDL) that it had issued in 2006 relating to the IPO scam case.
Market regulator Securities and Exchange Board of India (SEBI) has disposed of the interim ex-parte order cum show-cause notice against National Securities Depository Ltd (NSDL) that it had issued in 2006 relating to the IPO scam case.
The IPO scam took place in 2005 when depositories and some market participants were learnt to have cornered a major chunk of IPO shares meant for retailer investors.
"There was no evidence of lapse in NSDL's inspection and audit procedure," SEBI said. "None of the directions issued under the earlier order stand. Most of the charges had already been thrown out by the Securities Appellate Tribunal (SAT)."
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Market regulator Securities and Exchange Board of India (SEBI) has disposed of the interim ex-parte order cum show-cause notice against National Securities Depository Ltd (NSDL) that it had issued in 2006 relating to the IPO scam case.
