(a) whether instances of high upheaval in share market and irregularities
committed in shares have come to light during the last two years;
(b) if so. the details thereof;
(c) the action taken by Securities and Exchange Board of India (SEBI)
against persons found committing irregularities;
(d) the names of the shares where complaints of irregularities have been
received by SEBI during the last two years; and
(e) the action taken or proposed to be taken by the Government/
SEBI in the matter?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) The Securities and Exchange Board of India (SEBI), has reported that
fluctuations in markets are not unusual. Market movements are the outcome of
perceptions of the investors about the economy, the sector and companies.
This perception is influenced by many factors including the macro-economic
environment, the growth potential of the economy /companies, policy credibility
of the government, corporate performance, domestic and international events and
market sentiments. The stock market capitalizes the present and future values
of growth opportunities while evaluating the growth of all sectors in the economy.
Certain irregularities in share transactions have come to the notice of SEBI.
Complaints that are received from time to time are examined as per extant SEBI
guidelines and it takes civil and/or criminal actions as deemed necessary under
various relevant Acts. Rules and Regulations.
(b) The details of investigation taken up and completed by SEBI during the
last two years are as under:-
Particulars Investigations Taken Up Investigations Completed
2009-10 2010-11 2009-10 2010-11
Market Manipulation and Price 44 56 46 51 Rigging
Capital `Issue` related 2 6 7 2 Manipulation
Insider Trading 10 28 10 15
Takeovers 2 4 5 4
Miscellaneous# 13 10 6 10
Particulars Number of Entities
2009-10 2010-11
Cancellation of certificate of registration 0 5 of market participants
Suspension of certificate of registration 48 36 of market participants
Warning issued to market participant 37 17
Prohibitive directions issued u/s 11 of 691 268 SEBI Act against intermediaries and non- intermediaries
Deficiency Observations issued/ 156 63 Administrative warning
Total# 932 389