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SEBI asks RBI, CBI, IT to prosecute operators

SEBI on Friday asked Reserve Bank of India, CBI and Income Tax Department to start prosecution against 24 operators and 12 depository participants.

india Updated: Apr 28, 2006 12:51 IST

In a major action against those involved in the multi-crore IPO scam, market regulator SEBI on Friday asked Reserve Bank of India, CBI and Income Tax Department to start prosecution against 24 operators and 12 depository participants.

SEBI said the major stock exchanges BSE and NSE and depositories NSDL and CDSL are directed to ensure that all the directions in its 256 page order are strictly enforced.

With regard to findings of SEBI investigations on IPO finance to fictitious benami applications, it said RBI has been asked to look into the involvement of certain banks.

First Published: Apr 28, 2006 12:51 IST