| Sebi clamps down on PNs |
| BS Reporter / Mumbai October 17, 2007 |
| The Securities and Exchange Board of India (Sebi) today proposed to tighten the rules for purchase of shares and bonds in Indian companies through the participatory note (PN) route. |
| The move is aimed at arresting the surge in foreign inflows through PNs, which are offshore derivative instruments that allow foreign investors to invest indirectly in a country |
