SEBI probing Educomp share deals: Bansal

NEW DELHI: The government on Thursday said market regulator SEBI is probing the dealings in the shares of education software firm Educomp Solutions on bourses.

"SEBI is examining the matter with regard to dealings in the shares of Educomp Solutions on the stock exchange. As far as RBI is concerned, it is not investigating the matter," Minister of State for Finance P K Bansal informed the Rajya Sabha in a written reply.

Bansal added, "Further, with regard to allegations pertaining to irregularities in the financial statements of the company, the matter has also been referred to Ministry of Corporate Affairs. On February 4, MCA has ordered inspection into the matter."

The Gurgaon-based firm has been in news since January 20 when a media report said the company's profits were inflated and promoters had made big profits by trading their own shares and diverting funds to unlisted subsidiaries.