Our Economic Bureau

New Delhi, June 14: The Joint Parliamentary Committee (JPC) was not satisfied with the working of the Special Cell created by the government to oversee and expedite investigations against those found guilty in the 1992 securities scandal.

“Quick action against guilty will be our main area of concern”, said SPM Tripathi, chairman of the JPC probing the stock market meltdown in the aftermath of the presentation of the Union Budget in February. The JPC members, who were keen to know about the action taken against those found guilty in the 1992 scam, remained dissatisfied by the reply given by the finance ministry officials and sought more details about the persons prosecuted and punished, stage of inquiry and information about nexus between large industrial houses and brokers.

Mr Tripathi, expressed the sentiment of the committee by stating, “JPC felt there was room for improvement in the working of the investigating agencies.”

The JPC chairman also dispelled the impression that the committee has been working at a very slow pace.