 "Sebi")
The Securites and Exchange Board of India (Sebi) on Wednesday set rules under which it could hold back approvals for proposed share sales by companies that are under investigation for possible violations.
The capital markets regulator has said that for current investigations, “observations” on the draft offer may be kept in abeyance for 30 days from filing of the draft offer. If Sebi is unable to conclude its investigation, the document may be kept in abeyance for a further 30 days. If the delay is on account of conduct of the entities under investigation, the document may be kept in abeyance
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