'133 complaints on share price irregularities since Apr'11'
Market regulator Sebi has received 133 complaints regarding alleged irregularities in share prices of companies since April last year, Parliament was informed today.
Besides, the regulator has initiated adjudication proceedings in eight cases for alleged violations of takeover regulations so far this fiscal, Minister of State for Finance Namo Narain Meena informed the Lok Sabha in a written reply.
Sebi had received a total of 344 complaints regarding irregularities in share prices during the period April 1, 2009 to November 30, 2012, Meena said.
Of these, 144 complaints were received by the regulator in fiscal 2009-10 and another 67 complaints were registered in fiscal 2010-11.
Companies such as Jaybharat Textile and Real Estate, Pyramid Samaira Theater, DFM Foods, GHCL Ltd, Fact Enterprises, Tata Tele Maharashtra among others were probed by the regulator for irregularities in their share prices between April 2009 to end of November this year, the Minister said.
Meanwhile, other than eight adjudication proceedings initiated by Sebi in the current fiscal so far, over alleged violations of takeover regulations, proceedings were initiated in 18 cases in 2011-12, 17 in 2010-11 and 20 in 2009-10.
Replying to a query relating to prevention of flash-crashes in stock markets, the Minister informed the house that Sebi in 2001 had advised the bourses to "implement an index based market-wide circuit breaker at three stages of the index movement either way at 10 per cent, 15 per cent and 20 per cent resulting in halt of 30 minutes, one hour, 2 hours and remainder of the day subject to
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