Sebi gets new powers to launch crackdowns against fraudsters

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Sebi notified new norms empowering its Chairman to order search and seizure operations during investigations (Reuters) Sebi notified new norms empowering its Chairman to order search and seizure operations during investigations (Reuters)
SummaryNew Sebi powers aimed at making Sebi more effective in protecting investor interest...

an aircraft.

Besides, the authorised officer would have the power to search any person if there is "reason to suspect that such person has secreted about his person any such books of account or other document". If the person being searched is a female, the search could be made only by another female officer.

For searching computer, the norms lay out that an authorised officer could use any reasonable measures to access a computer system or other data storage device, that the person being searched has in physical possession.

A statement could be recorded by the authorised officer in the presence of two witnesses. In the case where there is no witness the statement would have to be video-graphed.

An intermediary found to be in non-compliance with rules liable for adjudication.

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