Partner Channels: Bill Pay | Health | IT Education | Jobs | Technology | Travel
May 19, 2001
|
|
|
|
|
|
||
|
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Wedding | Women Partner Channels: Bill Pay | Health | IT Education | Jobs | Technology | Travel |
||
|
|
||
|
Home >
Money > Business Headlines > Report May 19, 2001 |
Feedback
|
|
|
L K Singhvi calls it a day at SebiBS Markets Bureau L K Singhvi, the Securities & Exchange Board of India's chief of investigation, enforcement and surveillance, relinquished charge on Friday. Sebi is yet to appoint his successor. The post cannot be kept vacant for long especially as investigations into market manipulations are still on. Sebi chairman D R Mehta said that the appointment will be made soon. "Wait for sometime," he said. Singhvi, the author of the 90-odd page interim investigation report into the market events which led to the stock markets index crashing on March 2, told reporters that he had had an interesting time in the markets regulator. Reminiscing about his years in Sebi, Singhvi said that he joined the organisation in 1995 when the markets were just recovering from the 1992 securities scandal. He was instrumental in introducing strict margining requirements, the imposition of price bands and the concept of de-activation of terminals, if margins were not adequate. The stock-watch system was introduced in 1997 and instructions were sent to the exchanges asking them to beef up their surveillance wings. The interim investigation report also suggests maintaining the independence of the surveillance department from the management of the stock exchange. Powered by YOU MAY ALSO WANT TO READ:
|
||||
