Sebi lens on Rajiv Kochhar's Avista Advisory clients in ICICI loan case

Regulator to check end use of funds raised by companies that availed Rajiv Kochhar-led firm's services

Listed companies that availed of services from the Rajiv Kochhar-led Avista Advisory have come under regulatory glare.  According to sources, the Securities and Exchange Board of India (Sebi) is likely to examine the end-use of funds and other securities law compliance by these companies -- including Suzlon, GTL Infra, Jindal Stainless and Sterling Biotech.

These companies had employed Avista Advisory—owned by Rajiv Kochhar, brother-in-law of ICICI Bank managing editor Chanda Kochhar—for loan restructuring and other corporate needs.

Sources say Union finance ministry officials met Sebi chairman Ajay Tyagi last week on the issue. 

The Centre has asked the markets watchdog