The jointparliamentary committee on stock scam has asked the Securities and Exchange Board of India (Sebi) to expedite its inquiry into the role of the corporate sector in the scam.
The members of the committee told Sebi chairman G N Bajpai that they were unhappy with the pace at which the inquiry into the role of the accused companies was going on. They asked Sebi to provide reports on all companies involved in the stock scam. Sebi has so far provided reports only on DSQ Software, Shonkh Technologies and Padmini to the JPC.
JPC chairman SPM Tripathi said he had left it to the discretion of the Sebi chairman to decide which companies it should report on, but said the companies should be from among those that had been mentioned in the earlier Sebi reports.
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Tripathi said this would help the committee to finalise its report by the monsoon session of Parliament.
Along with Sebi, the department of company affairs, the Enforcement Directorate, the direct tax department and the Industrial Development Bank of India deposed before the JPC today and yesterday.
Tripathi said the committee had also examined the role played by the auditors vis-a-vis the companies and found that action taken by different government departments against the 27 auditors mentioned in the last JPC report was dismal.
He said of these, only four had been punished.