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Sebi to give MCA names of over 500 cos who violated CIS rules

Market regulator Sebi has decided to share with the Ministry of Corporate Affairs the names of over 500 companies, which have garnered money from investors in violation of its Collective Investment Scheme (CIS) rules.
Sebi would also give the names of the directors of such entities to the MCA, so that necessary actions can be taken to prevent these companies and persons from being associated with any new company, a senior official said.

The Collective Investment Schemes, where an entity pools in money from investors for certain pre-specified purposes and later distributes the profits or income, come under the ambit of the Securities and Exchange Board of India (Sebi).


http://economictimes.indiatimes.com/markets/regulation/sebi-to-give-mca-names-of-over-500-cos-who-violated-cis-rules/articleshow/11805720.cms
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