Govt rejects IPO probe demand
The government has turned down a Parliamentary Panel’s recommendation that a complete investigation of all IPOs floated since 1999 be carried out to detect any irregularities.
By Agencies |
NEW DELHI: The government has turned down a Parliamentary Panel’s recommendation that a complete investigation of all IPOs floated since 1999 be carried out to detect any irregularities.
In a statement in the Lok Sabha, Finance Minister P Chidambaram said Sebi felt that its available resources and time would be better employed for finalising follow up actions and any probe is unlikely to throw up new names other than those already identified by the regulator. After going through 105 public offers during 2003-05, Sebi found irregularities in 21 IPOs.
In a statement in the Lok Sabha, Finance Minister P Chidambaram said Sebi felt that its available resources and time would be better employed for finalising follow up actions and any probe is unlikely to throw up new names other than those already identified by the regulator. After going through 105 public offers during 2003-05, Sebi found irregularities in 21 IPOs.
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