Question : Public Issues of Private Companies

(a): whether many private companies which had floated public issues in the Share Market, have vanished;
(b): if so, the names of all these companies along with the details of amount of money owed by them;
(c): the details of action taken against those companies under the various provisions of the Companies Act, 1956;
(d): whether the Securities and Exchange Board of India (SEBI) had made a proper assessment regarding the functioning of these companies at the time of floating of shares by them;
(e): if so, whether SEBI had allowed those companies to issue their shares in the market by neglecting the shortcomings noticed by it in their claims after its assessment; and
(f): if so, whether the Government has taken or proposes to take any action against the officers of SEBI and if so, the details thereof?

Answer given by the minister

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANURAG SINGH THAKUR)

(a): No, Sir No private company can raise money through public issues.

(b) to (f): In view of (a) above these questions do not arise.

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