The Securities and Exchange Board of India today won the right to undertake search and seizure operations for insider trading and market manipulations but with the rider that only the chairman or a magistrate can authorise such an exercise.
The decision was taken at a meeting between the finance ministry and the department of company affairs, which was also attended by Sebi chairman G N Bajpai, paving the way for the introduction of a Bill to amend the Sebi Act in the monsoon session of Parliament.
