The Securities and Exchange Board of India (Sebi) is considering dropping Ranbaxy Laboratories from the list of scrips found eligible for trading in the derivatives segment.
The markets regulator has included Ranbaxy Laboratories in its additional list of 31 stocks found eligible for derivatives trading despite the company facing investigations related to stock scam.
This has comes as a surprise to market players, since the regulator had last week decided to remove stocks like HFCL, Zee Telefilms, Aftek Infosys, SSI from its expanded derivatives list for the time being citing pending scam-related investigations.
Sources familiar with developments said the decision to exclude some of the stocks came at the behest of the finance ministry which took cognisance of the market reactions, where an immediate outcry was raised at the inclusion of stocks which are being probed by Sebi for irregularities in transactions.
SEBI had recently informed the JPC , that entities associated with the promoters of Ranbaxy Laboratories appears to have benefited by selling over 27 lakh shares at the increased market price and have funded the entities associated with Ketan Parekh which were involved in market manipulations.
In fact, the JPC has also held that the role of Ranbaxy promoters need to be looked into for
