Sahara case: Sebi to take another shot at selecting certifier
“We are very serious... And we want some good and reliable agencies to come forward. Maybe we didn’t have enough confidence in some of the agencies (that had showed interest),” said UK Sinha, chairman, Sebi.
On Tuesday, the capital market watchdog put on hold the process of appointing an in-person verification (IPV) agency to help it ascertain the genuineness of bondholders in the Sahara case, wherein two entities have been directed to refund over R24,000 crore to more than 2 crore investors.
“The notice inviting tender for assisting Sebi in KYC-related ‘in person verification’ of bondholders (in the Sahara matter) is hereby withheld until further notice,” Sebi said in a notice. Interestingly, Sebi had extended the deadline twice for submission of bids by public sector banks and KYC registration agencies (KRAs) for selection as an IPV agency.
Sebi had first floated the tender on November 2 and asked PSU banks and KRAs to submit their applications by November 22. Later, it extended the deadline for bid submission to December 21, which was again extended until January 15.
Reports suggest that a pre-bid meeting was held by Sebi with interested parties on November 7, wherein at least four entities — Karvy, CAMS, NSDL and CDSL — had
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