SEBI board to take stock of market situation

NEW DELHI, MARCH 14. The capital market regulator Securities and Exchange Board of India will hold its board meeting here tomorrow amidst crisis in the bourses and far reaching measures taken to stabilise and effect orderly functioning of the market.

The meeting, which will be chaired by the SEBI Chairman, Mr. D. R. Mehta, will take stock of the market situation and discuss ways of implementing steps announced by the Finance Minister, Mr. Yashwant Sinha, including corporatisation of bourses.

Mr. Mehta has come under sharp attack for SEBI's failure to check insider trading in the market that is believed to have brought down the Sensex thrice by over 170 points after the budget presentation.

There were demands for Mr. Mehta's resignation from certain quarters but Mr. Sinha yesterday gave a clean chit to the SEBI chairman saying his integrity was unquestionable and the regulator had acted swiftly to deal with the situation.

On the eve of the board meeting, coincidentally, the markets chinned up with the Sensex gaining more than 180 points.

Mr. Sinha has made it clear that those found guilty should be brought to book without fear or favour and no one shall be spared.

He also assured that the Government and SEBI would continue to make every effort to ensure that the capital market operate in a orderly, transparent, safe and fair manner for all investors.

- PTI

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Section  : Business
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