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Action against non-implementation of earlier JPC mooted

The Joint Parliamentary Committee probing the stock scam proposes stringent action for non-implementation of the recommendations of the previous JPC that went into the 1992 security scam involving big bull Harshad Mehta, its Chairman Prakash Mani Tripathi said on Wednesday.

"The committee will scrutinise Action Taken Report on the recommendations of JPC on the 1992 security scam and will issue note for any non-implementation," Tripathi told reporters in New Delhi.

Tripathi, however, said he would not be able to say anything further as the report is yet to be scrutinised.

Admitting that the JPC proceedings have been a 'bit slow', he said it would be speeded up with long sessions to be held between June 12 and June 15.

He said the JPC will try to finish its task by the stipulated time and if necessary would seek an extension.

The JPC has been asked to submit its report by the last week of the Monsoon session of the Parliament.

The session is expected to end by the last week of August.

On Wednesday's meeting, Tripathi said the representatives of three stock related organisations namely the Stock Holding Corporation of India, National Securities Depository Limited and Central Depository Securities Limited gave a presentation on the working and other modalities of the organisations during the technical briefing.

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