Mutual funds have shovelled money into these segments and scored massive returns over the past year. But Puri-Buch is concerned that these returns won’t sustain and investors may be badly singed when the froth in the markets disappears
The development came on a day the Mumbai bench of the National Company Law Tribunal (NCLT) accepted a petition filed by a Zee shareholder, which sought implementation of the merger of the Indian entity with Sony
Speaking at the annual convention of the Association of Investment Bankers of India, Sebi chairperson Madhabi Puri Buch disclosed the regulator has found three merchant bankers frequently indulging in inflating subscriptions during share sales, and that action would be taken against them
The clarification led to a recovery if the Zee stock, which had slumped over fears of an imminent deal collapse with the extended deadline of January 21 approaching fast
While the Congress indicated its dissatisfaction with the Supreme Court by describing its approach to Sebi’s deficient surveillance as 'extraordinarily generous', it asserted that the allegations of misuse of office by Modi to help the Adani group were beyond the remit of the regulatory body