Join all hands to catch shell companies

Sebi's position is that the order was not against the companies themselves

The Securities and Exchange Board of India (Sebi) caught the market off-guard last week with an order to the stock exchanges. The regulator sent on a list of 331 entities suspected to be shell companies, shared by the ministry of corporate affairs (MCA). Some trade restrictions were imposed on these stocks, even as the exchanges were entrusted with the task of judging whether these companies had any substance or were only shells.
 
A couple of large companies became examples for experts who were critical of the Sebi move. These had a significant market capitalisation, decent turnover and were widely