BS Number Wise: How good is Sebi at recovering money?

The value of notices Sebi has sent out since getting recovery powers in 2013 is more than twice Mumbai's annual municipal budget

The Securities Appellate Tribunal recently granted an interim say on the Securities and Exchange Board of India's (Sebi's) order requiring Franklin Templeton Asset Management (India) to refund over Rs. 500 crores over losses because of ‘mismanagement' of debt schemes. While the stay is an interim one, an analysis of Sebi's recovery efforts shows some collection difficulties.

The value of notices it has sent out since getting recovery powers in 2013 is more than twice Mumbai's annual municipal budget. The latter is often referred to as India's richest civic body.  The notices worth Rs 81,085.7 crore cover collective investment schemes, deemed