In a swift action, capital markets regulator Securities and Exchange Board of India (Sebi) has eliminated Roopal Panchal, Sugandh Estates and 11 other entities from the allotment process of ICICI Bank’s recent follow-on public offering (FPO). These entities were found to be involved in alleged abuse of the allotment process in Yes Bank’s initial public offering (IPO). Sources familiar with the development said these entities adopted the same modus operandi in the ICICI Bank FPO as was used in the Yes Bank IPO. The fact that the same set of investors were active in the ICICI Bank FPO also was brought to Sebi’s notice by the National Stock Exchange (NSE) on Thursday evening.

Few months ago there were reports of insider trading on the stocks of various companies and dabba trading being back.
But what i would like to know is that whether SEBI has been able to fulfil its duties?? What is SEBI doing to protect the interest of poor and ignorant retail traders.????

Madhur Khandelia

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