Sebi Clarifies Rule Changes, Promises Action Against Violations
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Introduction: The Securities and Exchange Board of India (Sebi) has provided clarification regarding its 2019 rule changes, emphasizing that the amendments do not impede the identification of beneficiaries of offshore funds. Sebi has assured that it will take appropriate action if any violations are found. The regulatory body has continuously strengthened rules related to beneficial ownership and related-party transactions, which are crucial aspects in the allegations of stock price manipulation against the Adani Group. Sebi's response counters certain findings and recommendations made by an expert committee appointed by the Supreme Court. Sebi: Strengthening regulations and promising action against violations in the capital markets. Sebi Disputes Expert Committee Findings: In response to the expert committee's interim report, Sebi firmly disagrees with the committee's assertion that there is no evident pattern of manipulation in Gautam Adani's companies and that ther...