SEBI probing dealings in shares of 58 firms: MoS

New Delhi, March 28

The Ministry of Finance today informed the Rajya Sabha that as on February 28, 2023, markets regulator SEBI was investigating the dealings in the shares of 58 companies for violation of rules.

In a written reply to a question asked by Shiv Sena (Uddhav Thackeray) member Priyanka Chaturvedi seeking to know the data on companies currently being investigated by the SEBI for market manipulation and their market shareholding, Union Minister of State (MoS) for Finance Pankaj Chaudhary said, “As on February 28, 2023, SEBI is investigating the dealings in the shares of 58 companies for violation of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 which includes market manipulation and attendant unfair trade practices.”

To another question, the minister said the SEBI has informed the Ministry that it “does not identify shell companies”. However, earlier this month while replying to a question in the Lok Sabha, the MoS (Finance) had said the SEBI was investigating allegations against Adani Group, whose nine listed companies saw a 60% decline in their market capitalisation between January 24 and March 1, triggering a politic.

Choudhary had then said, the SEBI is mandated to put in place regulatory frameworks for effecting stable operations and development of the securities including protection of investors.

Nomination deadline extended till Sept 30

• Markets regulator SEBI on Tuesday extended the deadline till September-end for existing trading and demat account holders to provide choice of nomination or opt out of nomination. Earlier the deadline was March 31, 2023
• In July 2021, the SEBI asked all existing eligible trading and demat account holders to provide choice of nomination on or before March 31, 2022, failing which the trading and demat accounts would have been frozen for debits